Preliminary Results for the Twelve Months Ended 29 February 2008

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

Preliminary Results for the Twelve Months Ended 29 February 2008

Gasol plc (AIM: GAS), the AIM-listed company founded to identify and secure commercially attractive opportunities in the newly-emerging African gas sector, is pleased to announce its preliminary results for the year ended 29 February 2008.

Highlights

• Option to acquire the remaining 80% of African LNG Holdings successfully exercised since year-end.
• Co-operation agreement signed between African LNG, E.ON Ruhrgas AG and Afren plc to assess the feasibility of developing, aggregating and monetising Nigerian gas reserves for domestic and export purposes.
• Significant strengthening of the Board with the appointments of the Chief Executive Officer and two Non-Executive Directors during the year under review, of Dr Lukman as Strategic Advisor to the Board, and, since the year-end, of a Non-Executive Chairman, a Chief Financial Officer and Mr Ethelbert Cooper as Strategic Advisor to the Board.
• Acquisition of 75% of Afgas Infrastructure Limited, a project company established to support the gas infrastructure-related activities in the Gulf of Guinea region, and of 75% of Afgas Nigeria Limited.
• A loss for the year of £2.73m (2007: £1.13m), equating to a loss per share of 1.75p; (2007: 0.89p).
• Placing since year-end raising £4.0m.

Soumo Bose, Chief Executive Officer of Gasol plc, commented:

“The year ahead is promising; with strong fundamentals in the gas and LNG business and key acquisitions in place, Gasol is now in position to take its business to the next level. We expect to see good progress in the various projects and opportunities being pursued by the Company.”

Download Preliminary Results (PDF).

Enquiries

Gasol plc Tel: 020 7290 3300
Soumo Bose, Chief Executive Officer
Rachel English, Chief Financial Officer
Uzo Ijewere, Investor Relations

Pelham PR Tel: 020 7743 6670
Alex Walters
Charles Goodwin

Jefferies International Ltd Tel: 020 7029 8000
Jack Pryde
Oliver Griffiths