Positive test results from the Simrit-2 well

Afren plc (AFR LN)

Positive test results from the Simrit-2 well on the Ain Sifni Block, Kurdistan Region of Iraq

London, 13 March 2013 - Afren plc ("Afren" or the "Group") announces an update on the on-going testing programme on the Hunt Oil Middle East (HOME) operated Simrit-2 well, yielding incremental flow rates of 5,368 bopd, with a cumulative rate of 18,952 bopd from six of the 12 zones tested.

Following the conclusion of drilling operations at the Simrit-2 well, located on the northern part of the Ain Sifni PSC, Kurdistan region of Iraq, the Partners have successfully completed three further DSTs in the Jurassic Mus, Adiayah and Butmah formations yielding incremental flow rates of 5,368 bopd of 21o API oil using the Hitech-3 rig. The Partners have now achieved aggregate flow rates of 18,952 bopd to date. The remaining testing operations will focus on Upper Jurassic and Cretaceous reservoirs.

The Simrit-2 exploration well was drilled to a depth of 12,467 ft and encountered an estimated 1,509 ft of net oil pay.

Drilling on the Simrit-3 well, exploring the eastern extent of the large scale Simrit anticline is continuing. The well is currently operating at 11,483 ft having drilled and logged hydrocarbon bearing intervals in the Cretaceous, Jurassic and Triassic reservoirs. A multi-zone testing programme is being prepared when drilling operations conclude.

Afren has a 20 per cent interest in the Ain Sifni PSC and is partnered by Hunt Oil Middle East (60 per cent. and operator) and Kurdistan Regional Government (20 per cent.).

Osman Shahenshah, Chief Executive of Afren, commented: 

"The latest test results on the Simrit-2 exploration well continue to suggest excellent production capability and the transformational potential of this discovery to Afren. The Simrit-3 well is drilling ahead and confirms the eastern extent of the large scale Simrit anticline."

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Notes to Editors

Afren plc

Afren is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange and constituent of the Financial Times Stock Exchange Index of the leading 250 UK listed companies. Afren has a portfolio of 28 assets across 12 countries spanning the full cycle E&P value chain. Afren is currently producing from its assets in Nigeria, Côte d'Ivoire and the Kurdistan region of Iraq and holds further interests in Ghana, Nigeria, Côte d'Ivoire, the Kurdistan region of Iraq, Congo Brazzaville, the Joint Development Zone of Nigeria - São Tomé & Príncipe, Kenya, Ethiopia, Madagascar, Seychelles, Tanzania and South Africa. For more information please refer to www.afren.com.