PetroNor E&P ASA — Share Issue/Capital Change 2017

May 3, 2017

3 May 2017

African Petroleum Corporation Limited ("African Petroleum Corporation" or the "Company")

Key Dates Announcement – Repair Offering

Reference is made to the announcement by African Petroleum on 3 May 2017 at 8.01 CET regarding the allocation of the Private Placement.

The key dates and information relating to the subsequent repair offering are as follows:

2 May 2017:	Last day (inclusive)
3 May 2017:	Announcement date
3 May 2017:	Ex-date
3 May 2017:	Date of approval
4 May 2017:	Record date
Maximum number of new shares:	5,550,000
Subscription price:	NOK 7.75 per share

For further information, please contact:

Jens Pace, Chief Executive Officer Stephen West, Chief Financial Officer Tel: +44 20 3655 7810

Manager for the Repair Offering:

Pareto Securities AS Davide Finelli Tel: +44 20 7786 4398

Media Contacts:

Buchanan Ben Romney/Chris Judd Tel: +44 207 466 5000

About African Petroleum Corporation

African Petroleum is an independent oil and gas exploration company with an equity interest in eight licences in four countries offshore West Africa (Senegal, the Gambia, Cote d'Ivoire and Sierra Leone). The Company's assets are located in proven hydrocarbon basins in the West African Transform Margin and the Atlantic Margin, where several discoveries have been made in recent years. The Company is working with its partner Ophir Energy (operator) on the CI-513 licence in Côte d'Ivoire to drill an exploration well in May 2017.

For more information about African Petroleum, please see www.africanpetroleum.com.au

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.