NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL

Reference is made to the extended stock exchange announcement released on 19
March 2019 by African Petroleum Corporation Limited (“African Petroleum” or the
“Company”; OSE ticker: “APCL”) regarding the agreement to combine with PetroNor
E&P Ltd for an all share consideration of c. 816 million shares in African
Petroleum (the "Transaction").

In accordance with the Oslo Stock Exchange Continuing Obligations for listed
companies section 3.5, African Petroleum has prepared an information memorandum
(the "Information Memorandum") in relation to the contemplated Transaction. The
Information Memorandum was approved by the Oslo Stock Exchange on 29 March 2019.

Completion of the Transaction is subject to certain conditions, including
approval with requisite majority of the shareholders of the Company in a
shareholders meeting to be held on 24 April 2019. Subject to fulfilment of
applicable conditions, completion of the Transaction is targeted to occur by the
end of April 2019. See the Information Memorandum for further information.

The Information Memorandum is attached hereto and is also available on the
Company’s website: www.africanpetroleum.com.au

******

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 licence
interests in offshore West Africa (Senegal and The Gambia). The Company’s assets
are located in proven hydrocarbon basins in the Atlantic Margin, where several
discoveries have been made in recent years.

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

IMPORTANT INFORMATION This release does not constitute an offer, invitation or
solicitation of an offer to buy, subscribe or sell any shares in the Company.
The distribution of this release in certain jurisdictions is restricted by law.
This release is not for distribution or release, directly or indirectly, in or
into any jurisdiction in which the distribution or release would be unlawful.
Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, Forward-looking statements concern
future circumstances and results and other statements that are not historical
facts, sometimes identified by the words "believes", expects", "predicts",
"intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates",
"targets", and similar expressions. Any forward-looking statements contained in
this release, including assumptions, opinions and views of the Company or cited
from third party sources are solely opinions and forecasts which are subject to
risks, uncertainties and other factors that may cause actual events to differ
materially from any anticipated development. Neither the Company nor any of its
subsidiary undertakings or any such person's affiliates, officers or employees
provides any assurance that the assumptions underlying such forward-looking
statements are free from errors, nor do any of them accept any responsibility
for the future accuracy of the opinions expressed in this release or the actual
occurrence of the forecasted developments. The Company assumes no obligation to
update any forward-looking statements or to confirm these forward-looking
statements to our actual results.