Preliminary results for the year ended 28 February 2007

Gasol plc (AIM: GAS), whose strategy is to become the premier integrated natural gas company in West and Central Africa, is pleased to announce its preliminary results for the year ended 28 February 2007.

Highlights

• Significant progress to date in building the Company's management team, investment portfolio and strategic relationships
• 20 per cent shareholding acquired in African LNG, a business focussed on developing liquefied natural gas (LNG) projects in the Gulf of Guinea
• Subsequent to the year end a 75 per cent shareholding acquired in Afgas Infrastructure Limited, a company formed to build and operate gas pipelines
• Careful cost control resulted in net cash at the balance sheet date of £5.00 million (28 February 2006: £4.35m). Post tax loss of £1.04 million (period to 28 February 2006: £1.4 million)

Haresh Kanabar, Gasol's Chief Executive, said: "We have made significant progress to date in creating the platform from which the Company can move towards the next stage in its development: the production, liquefaction, shipping and sale of significant volumes of LNG. Via our investee company African LNG we are in discussions with a number of major European utilities in terms of long term sales agreements, which will form the basis of the project financing of our first LNG production project."

Download Preliminary Results for year ended 28 February 2007 (PDF).

For further information:

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

Jefferies International Ltd
Toby Hayward
Oliver Griffiths
+44 (0) 20 7618 3500

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

END