Reference is made to the announcements made by African Petroleum
Corporation Limited ("African Petroleum" or the "Company") on 16 March 2015,
regarding (i) the result of the general meeting and (ii) the approval of the
prospectus dated 16 March 2015 (the "Prospectus") and the commencement of
the Subsequent Repair Offering.
On 18 March 2015 the Board of Directors of African Petroleum has, in
accordance with the mandate granted by the shareholders in the general
meeting held on 16 March 2015, issued 271,732,000 new shares (the "New
Shares") and 135,866,000 options which were allocated in the private
placement. The options have been issued in the VPS on ISIN AU0000AOQOZ6.
The New Shares will be delivered on a delivery-versus-payment basis
commencing today. The New Shares have been issued in CHESS on the
Company's ordinary ISIN AU000000AOQ0, and in the VPS on temporary ISIN
AU0000AOQNB9 and will be moved to the same ISIN as the existing shares of
the Company, and listed on Oslo Axess upon completion of settlement,
expected on or about 19 March 2015. As a result of the share capital increase,
the Company has 957,589,456 shares in issue. This figure may be used by
shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a change
to their interest in the Company. The shares have no par value.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
*****
For further information, please contact:
Stuart Lake, Chief Executive Officer
Stephen West, Finance Director
Tel: +44 20 3761 6900
Angeline Hicks, Company Secretary
Tel: + 61 401 489 883
Media Contacts:
For UK and International media - Buchanan
Ben Romney/Helen Chan
Tel: +44 207 466 5000
For Norwegian media - First House
Geir Arne Drangeid
Tel: +47 913 10 458
Geir Gjervan
Tel: +47 908 79 108
About African Petroleum Corporation
African Petroleum Corporation is a dynamic, independent oil and gas
exploration company operating ten licences in five countries offshore West
Africa. The Company's assets are located in fast-emerging hydrocarbon
basins, principally the West African Transform Margin, where several
discoveries have been made in recent years, including African Petroleum
Corporation's Narina-1 discovery in February 2012, which proved a working
hydrocarbon system in the Liberian basin. With a combined net acreage
position of 30,967km2 through its licences in Côte d'Ivoire, Liberia, Senegal,
Sierra Leone and The Gambia, the Company has matured its portfolio rapidly,
acquiring more than 18,500km2 of 3D seismic data and successfully drilling
three wells, one of which was the first hydrocarbons discovery in the offshore
Liberian deep-water basin.
For more information about African Petroleum Corporation, please see
www.africanpetroleum.com.au