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Afren PLC - Gas Monetization Strategy.

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| December 07, 2006 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From AFX CNF)

RNS Number:4087N Afren PLC 07 December 2006 Afren plc (AIM: AFR) Gas Monetization Strategy London, 7 December 2006 - Afren plc ("Afren" or "the Company") is pleased to announce that African Gas Development Corporation ("Afgas") and Sociedad Nacional de Gas, GE. ("Sonagas") yesterday announced the signature of an exclusive joint venture agreement ("JV") to monetize gas supplies from Nigeria, Cameroon and Equatorial Guinea through infrastructure and facilities in Equatorial Guinea. Afren has the first right of refusal to supply upstream gas to the JV. Exclusive Joint Venture between Sonagas and Afgas Sonagas is the national gas company of the Republic of Equatorial Guinea which has the exclusive responsibility for the State's interest in all existing and future gas related projects in the…

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