African Petroleum Corporation Limited ("African Petroleum" or the "Company"), an
independent oil and gas exploration company with licence interests in four
countries offshore West Africa, provides the following update on its licences in
Senegal.

SOSP:
As previously announced on 16 October 2017, the term of the current first
renewal phase of the Senegal Offshore Sud Profond ("SOSP") production sharing
contract ("PSC") expired on 15 December 2017.  Prior to the expiry of the
current phase, and in accordance with the terms of the PSC, the Company lodged
an application ("PSC Application") to enter into the second renewal phase of the
contract, and also requested to exchange the outstanding well commitment in the
current phase for a 3D seismic acquisition programme, and to transfer this
revised outstanding commitment to the second renewal phase.

Both prior to and after lodgement of the PSC Application, the Company held
several meetings with the relevant authorities in Senegal to discuss the
Company's PSC Application.  All of these meetings led the Company to believe
that the PSC Application would be favourably considered prior to expiry of the
current phase.

The Company has received no formal response to the PSC Application; however, at
a recent meeting with the newly appointed Minister of Energy, the Company was
advised that all decisions pertaining to amendments to PSC's held by all
companies in the country are being deferred until the new Petroleum Code is
issued, which is expected to be in Q2 2018.

In addition, the Company notes recent media reports stating that the Ministry of
Energy has outlined a change of policy that only major companies will be
considered for new PSCs in Senegal going forward.  Such a policy has clear
negative implications for smaller exploration led companies.

The Company is disappointed and frustrated with this latest development and is
reviewing its options under the PSC in order to protect its contractual rights
and to expediate the decision making process.

A further update will be provided to shareholders once the Company has received
and considered relevant legal advice on the issues.

ROP:
African Petroleum continues to reserve its rights on the Rufisque Offshore
Profond ("ROP") PSC.

Jens Pace, African Petroleum's CEO, comments:
"We are disappointed and frustrated that our application to move into the next
phase of the PSC on SOSP has become complicated by the introduction of a new
hydrocarbon code, and changes to government policy built on the success of a
region in which the Company took a pioneering position.  Whilst we still hope
for an amicable solution that sees us move into the next phase of the SOSP PSC,
we will be seeking advice and reviewing our options to protect our considerable
investment in the Senegal licences.  We will provide shareholders with a further
update as soon as we have more clarity on the situation."

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For further information, please contact:
Jens Pace, Chief Executive Officer
Stephen West, Chief Financial Officer
Tel: +44 20 3655 7810

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

About African Petroleum 
African Petroleum is an independent oil and gas exploration company with an
equity interest in licences in four countries offshore West Africa (Senegal, The
Gambia, Côte 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.

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