The board of African Petroleum Corp. Ltd. has entered into a MoU with PetroChina International Investment Co. Ltd., a subsidiary of China National Petroleum Corp.

Under the MoU PetroChina has until August 31 to agree to invest up to 20% in Block LB-09 in Liberia and up to 20% in one or more exploration blocks in Cote d’Ivoire, Gambia, Liberia, Senegal, and Sierra Leone.

Any investment made by PetroChina will be at a value to be agreed and will be subject to receiving appropriate governmental, regulatory, and other third party consents.

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