Afren

London, 3 August, 2007 - Afren plc ("Afren" or “the Company”) announces that Dr Rilwanu Lukman, KBE, Legion d'honneur, Founder and non-executive Chairman of Afren has been appointed Honourary Advisor on Energy and Strategic Matters to the President of Nigeria.

The Board of Afren announces that President Umaru Musa Yar'Adua, the newly elected President of Nigeria, has approved the appointment of Dr Rilwanu Lukman as his Honourary Advisor on Energy and Strategic Matters. The role is one of a number of advisory appointments in other sectors of Government activities made by the President, is an honourary role, and does not include a paid office.

Dr Lukman has previously served as the Nigerian Minister of Petroleum Resources, Special Adviser to the Nigerian President for Oil and Gas, Nigerian Minister of Foreign Affairs, Nigerian Minister of Mines, Secretary General of OPEC (6 years), President of OPEC (9 sessions), and Founder and Chairman of the African Petroleum Producers Association.

As a Founder of Afren and current non-executive Chairman, Dr Lukman will continue to drive the Company's vision to become the premier pan-African independent exploration and production company, through partnering with indigenous companies and governments and acquiring equity stakes in exploration and development assets.

Enquiries:

Afren plc
+44 20 7182 1800
Osman Shahenshah - Chief Executive
Evert Jan Mulder - Chief Operating Officer
Galib Virani - Investor Relations

Jefferies International Limited
+44 20 7618 3500
Toby Hayward
Oliver Griffiths

Tristone Capital Limited
+44 20 7399 2480
Simon Ashby-Rudd
Majid Shafiq

Pelham Public Relations
+44 20 7743 6673
James Henderson
Alisdair Haythornthwaite

Background information

Afren Plc

Afren (www.afren.com) was founded in December 2004 by a management team including Dr Rilwanu Lukman, (Chairman), Osman Shahenshah, (Chief Executive) and Bert Cooper (Advisor to the Board), with the vision to become the premier pan African independent Exploration and Production company. Afren's Chief Operating Officer is Evert Jan Mulder, who was most recently Chief Operating Officer of Addax Petroleum, Nigeria's largest independent oil producer.

Since its listing on the AIM market of the London Stock Exchange, Afren has rapidly expanded its portfolio and the management team has delivered 11 assets in the Joint Development Zone of Nigeria-Sao Tome and Principe, Nigeria, Gabon, Angola and Congo Brazzaville. In addition, Afren has built an executive and non-executive management and advisory team with broad and extensive experience in the industry, both in West Africa and internationally; in identifying and completing corporate expansion opportunities and in public company financing. Afren also looks to leverage key relationships across the region to gain preferential access to opportunities.

Afren will continue to add to its diversified portfolio of near term development and high impact exploration, with the overall objective of creating substantial shareholder value.

Current portfolio

Nigeria

Afren is partnered with indigenous companies on all four assets in Nigeria. This is consistent with the strategy and commitment of partnering with indigenous companies to target low cost development options that yield near-term production.

- Okoro Setu development - Two appraisal wells were successfully drilled in Q4 2006 by Afren, the Technical Service Provider. A nine-month rig contract is in place for the Adriatic VI, with development drilling due to commence in Q4 2007. An FPSO has been secured, reserves certified by Netherland, Sewell and Associates (2P of 32 mmbbl) and the Field Development Plan has been approved by the Department of Petroleum Resources in Nigeria. First oil is targeted in Q1 2008 and circa 15,000 -20,000 bopd of oil achieved by mid 2008.

- Ofa development - Discovered by Shell in 1970. Upon a successful well test, production should be achieved within eight to nine months at up to 4,000 bopd.

- Ogedeh development - Existing discovery made by Chevron in 1993 in an area lying close to existing infrastructure. Various development options are currently under review.

- Eremor development - Initially discovered by Shell in 1978. Phase I of the approved Field Development Plan is to re-enter and complete Eremor-1.

Angola Cabinda Block B

Heads of agreement have been signed for a 5 per cent. interest in Block B, a high quality exploration license containing existing discoveries (32 wells previously drilled without Seismic (4 wells testing light oil and 7 wells with oil shows). A 2D seismic programme is planned, followed by a 5-well exploration programme from 2008 onwards once Force Majeure is lifted.

Congo

The La Noumbi field (Afren: 14% interest) lies adjacent to the M'Boundi field and contains a number of high impact exploration opportunities. A well will be drilled on the Doungou prospect in August 2007.

Gabon

Afren has interests in Themis and Iris Marin (12.86%) and the Ibekelia Study Area (20%), which offer low cost exploration upside. The Admiral prospect in Themis Marin is due to be drilled in H2 2007.

Nigeria - Sao Tome Joint Development Zone

Afren's 4.41% interest in Block 1 of the JDZ offers exposure to a world class exploration acreage and in March 2006 Chevron made the Obo-1 discovery which contained 150 feet of net pay and proved a working hydrocarbon system in the JDZ.