any specific reason why, page-9

Wasa,

it was announced today that there will be a private placement taking place in Norway, of 3.1 to 3.8 million USD.

African Petroleum Corporation Limited ("African Petroleum" or the "Company"), an independent oil and gas exploration company with high impact licences offshore West Africa, intends to carry out a private placement to raise between NOK 26 million to NOK 32 million (approximately US$3.1 million to US$3.8 million) through the issue of new fully paid ordinary shares to certain existing and new investors (the "Private Placement"). Mirabaud Securities LLP has been appointed to act as Lead Manager for the Private Placement.

Proceeds from the Private Placement will be used to strengthen the Company's balance sheet and liquidity position, to fund the Company's ongoing working capital and for general corporate purposes.

The Private Placement will be directed at a limited number of selected investors pursuant to applicable exemptions from local prospectus requirements and other filing requirements and in compliance with Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), including in the United States to qualified institutional buyers ("QIBs") as defined in, Rule 144A under the U.S. Securities Act

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