Interim Results for the six months ended 31 August 2006

Gasol plc ('Gasol' or 'the Company')

Gasol plc (AIM: GAS), the company formed to capitalise on acquisition and investment opportunities in the oil and gas sectors, is pleased to announce its interim results for the six months ended 31 August 2006.

Highlights in the year to date

Acquisitions and Operations

• Acquisition of a 20 per cent stake in African LNG Holdings Ltd ("African LNG"), a company whose strategic objective is to become the premier integrated LNG company in West Africa
• Acquisition of an option over the remaining 80 per cent of African LNG
• Strategic alliance entered into with Afren Plc, an independent pan-African Exploration and Production company focused on upstream oil and gas opportunities in Africa

Management and Corporate

• Appointment of Jefferies International Limited as the Company's Nominated Adviser and Broker
• Appointment of Osman Shahenshah as Non-Executive Director
• Re-admission of the Company's shares to AIM on 1 September 2006

Financial

• Successful placing of 16.7 million new ordinary shares to raise £3 million, after the balance sheet date
• The Company is well capitalised with £4.07 million net cash as at 31 August 2006, which excludes proceeds from the equity placing

Haresh Kanabar, Chief Executive of Gasol plc, commented: "We have made significant progress during the first half of 2006 in capitalising on opportunities in the LNG sector. We were delighted to announce our first acquisition of a stake in African LNG, giving us exposure to the fastest growing sub-segment of the international oil and gas industry. We look forward to providing an update on African LNG's progress in developing Gulf of Guinea LNG related projects during the second half."

Download the Interim Results (PDF).

For further information:

Gasol plc
Haresh Kanabar, Chief Executive
+44 (0)20 7297 0010

Buchanan Communications
Mark Court
James Strong
+44 (0)20 7466 5000

Editors' Notes

About Gasol plc

Gasol plc was formed in February 2005 to identify and secure acquisition and investment opportunities in the oil and gas sectors. It joined the AIM market of the London Stock Exchange on 16 March 2005 and has since refined its strategy to focus on opportunities in liquefied natural gas in the Gulf of Guinea region of West Africa. Gasol made its first acquisition, of a 20 per cent shareholding in African LNG Holdings Ltd, in September 2006. Gasol shares trade under the ticker symbol GAS. Further information is available from the Company's website, www.gasolplc.com.

About African LNG

African LNG was established in late 2005 with the intention of becoming the premier independent integrated LNG company in the Gulf of Guinea with a focus across the LNG value chain from gas gathering and liquefaction to shipping, storage and regasification in the Atlantic Basin.

About Afren plc

Afren (www.afren.com) was founded in December 2004 by a management team including Dr Rilwanu Lukman with the vision to become the leading pan African independent Exploration and Production company. Since the Initial Public Offering in March 2005, Afren has rapidly expanded its African portfolio across five countries; Nigeria, São Tomé and Príncipe, Gabon, Congo and Angola.

END