African Petroleum : Last Day of Trading With Right to Receive Warrants

24 April 2019

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

Last Day of Trading With Right to Receive Warrants

Reference is made to the key date announcement released on 10 April 2019. The Company advises that today is the last day of trading in the Company's shares with the right to receive the APCL Warrants. The Company's shares will trade inclusive of the right to receive the APCL Warrants until close of market today. The holders of the Company's shares as at close of market today will be entitled to receive the APCL Warrants.

The issuance of the APCL Warrants is subject to approval by the general meeting of African Petroleum Corporation Ltd which is being held today. The issuance of the APCL Warrants are furthermore conditional upon the satisfaction or waiver of the conditions precedent for completion of the Transaction.

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For further information, please contact:

Jens Pace, Chief Executive Officer

Stephen West, Chief Financial Officer

Tel: [phone]

Media Contacts:

Buchanan

Ben Romney/Chris Judd

Tel: [phone]

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