Company Information for Gasol Plc

AIM-GAS

www.gasolplc.com

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AIM; GAS

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Company Statement

Gasol plc is an African-focused gas independent.

The Company’s prime focus is on the monetisation of gas reserves in Sub-Sahara Africa by its aggregation, liquefaction and shipment to high-value markets world-wide, whilst working closely with host governments and communities to align our business to local priorities.

Gasol Plc is an African-focused pure-play Liquefied Natural Gas (LNG) company. Founded in 2005, and listed on London’s AIM stock exchange, its strategic plan is to become the premier independent LNG company, sourcing gas from the Gulf of Guinea.

Operations and Technology

Gasol seeks to create value by procuring and liquefying gas in Central and West Africa and supplying to high-value growth markets in the USA and Europe; the Company intends to participate across the gas chain – procurement, liquefaction, transportation, regasification and marketing, with an initial aim of selling 5 million tonnes of LNG within five years.

In September 2007, Soumo Bose was appointed CEO of Gasol. For the last ten years Mr. Bose has worked in the gas industry with his most recent appointment being CFO of Egyptian LNG, a US$2 billion LNG joint venture between BG Group, Petronas, Gaz de France and Egyptian state gas companies. Prior to this he worked at BG Group, SHV Gas, Calor Gas and ICI.

Gasol derives the benefit of a strong board and management team which includes Mr. Osman Shahenshah, CEO of Afren Plc, who is a board member and Dr. Rilwanu Lukman, the former OPEC President and Secretary General, who is currently Honorary Advisor to the President of Nigeria on energy and strategic matters. Dr. Lukman is Strategic Advisor to the Gasol board.

The worldwide natural gas markets are growing rapidly, due to high oil prices, growth in demand for energy, and natural gas being competitive for power generation. The increasing demand, and the substantial distances between where gas is needed and where gas is produced, has fuelled the growth in the LNG business. Worldwide LNG markets are expected to show high growth (9-10% till 2015).

Gasol’s strategy for creating value by connecting LNG produced in West and Central Africa to high value markets is particularly timely. It is a well known fact that West and Central Africa, especially Nigeria, has one of the largest untapped gas reserves (reserves estimated at 300 tcf, out of which 80% is in Nigeria). Its gas reserves are significantly larger than those of major producers such as Algeria, Australia, Canada and Venezuela, and they are comparable with reserves of Western Europe, the US and the United Arab Emirates respectively. Much of the gas has fragmented ownership providing an opportunity to pool the gas into economic sizes for liquefaction and export. The region also has large quantities of gas being flared, which provides an opportunity for monetising flared gas by putting in place appropriate technology and infrastructure.

With calls from the Nigerian Government to cut down flaring and to impose penalties, Gasol is well positioned to provide a solution and capitalize on what is currently a redundant source of gas. Gasol, through its investment in African LNG (AfLNG), is seeking to access these substantial gas reserves and flared gas to underpin development of multiple LNG trains in the region.

It is increasingly accepted that West Africa will become a major supply point for LNG for countries throughout the Atlantic Basin including the key markets of Europe and North America. The quantum growth in LNG-consuming markets can be sustained only if West African gas can be transported to these markets via the LNG route. Utility and energy majors and large financial institutions have become very interested in taking strategic gas and LNG positions in the region, which provides scope for mutually beneficial partnerships and strategic alliances.

Gasol works in partnership with governments, energy majors, utilities and independents in Africa, the USA and Europe. Significant progress has been made through its investee company, AfLNG (in which Gasol holds a 20 per cent shareholding and has an option to acquire the remaining 80 per cent) which is developing multiple conventional / floating LNG projects in Central and West Africa. AfLNG recently entered into a co-operation agreement with Afren Plc and E.ON Ruhrgas AG to assess the feasibility of developing, aggregating and monetizing Nigerian gas reserves for domestic and export purposes. AfLNG is Afren’s exclusive downstream liquefaction partner in developing an LNG monetization.

Mr. Bose told oilbarrel.com that “Afren’s statement of intention to assemble gas reserves in partnership with African LNG marked a major step forward for Gasol”.

With its potential to access substantial gas reserves through upstream partners like Afren, an experienced board, credible partners with financial muscle, high profile government/stakeholder connections and a global market place hungry for LNG, Gasol is uniquely positioned in comparison to any other LNG company to be the major player in its field in the Gulf of Guinea.

Board of Directors and Key Management

Chief Executive	Soumo Bose
Director	Haresh Damodar Kanabar
Non-Executive Director	Osman Shahenshah
Non-Executive Director	Charles Osezua
Non-Executive Director	Paul Biggs
Chief Financial Officer	Rachel June English
Non-Executive Chairman	Theo Oerlemans

Company Address

40 New Bond Street
London, United Kingdom W1S 2RX


Telephone:	+44 (0)20 7290 3300
Facsimile:	+44 (0)20 7504 8631
Email:	info[at]gasolplc.com
Website:	http://www.gasolplc.com

Additional Address/Key Contact

Investor Relations:
Tel: +44 (0)20 7290 3300
Fax: +44 (0)20 7290 3330
Email: ir@gasolplc.com

Nominated Brokers

Jefferies International Limited

Nominated Advisors