Afren PLC ('Afren' or 'the Company'), an independent oil and gas company focused on establishing itself as the leading pan-African exploration and production company, today announces its maiden preliminary results for the year ended 31 December 2005.

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Afren (AIM: AFR), an independent oil and gas company focused on establishing itself as the leading pan-African exploration and production company, is pleased to announce that its Nigerian subsidiary Afren Energy Resources ("AER") has signed a drilling contract to contract the Seadrill-7 Jack-up drilling unit for two wells offshore Nigeria in 2006. The Company also announces the appointment of a new Drilling Manager.

Afren (AIM:AFR) notes recent media speculation regarding the drilling of the Obo-1 well in Block 1 of the Nigeria Sao Tome and Principe Joint Development Zone ("JDZ"). On 23 January 2006, Afren announced that Chevron, the Operator of Block 1 had confirmed that it had commenced drilling of the first exploration well on this license on 14 January 2006 and that it should be completed in approximately 60 days. Initial drilling of the well has been completed and the results are currently being evaluated. The results of this well will not be known until the Operator has completed its evaluation and authorised the release of further information.

Afren plc (AIM:AFR), the oil and gas company focused on establishing itself as the premier pan-African independent exploration and production company, announces that it intends to release preliminary results for the year ended 31 December 2005 on Thursday 30 March 2006.

Afren (AIM:AFR), the oil and gas company focused on establishing itself as the premier pan-African independent exploration and production company, announces that Chevron, the Operator of Block 1 of the Nigeria - Sao Tome and Principe Joint Development Zone ("JDZ"), has confirmed that it has commenced drilling of the first exploration well on this licence on 14 th January 2006.