Flex LNG Ltd.

Regulatory Filings • Apr 12, 2010

FLEX LNG LTD ("FLEX LNG") - Announces Advanced Talks to Join Floating Liquefaction Project Being Developed By Asian National Oil Company

Road Town, Tortola, 12 April 2010. FLEX LNG (Oslo

Axess: FLNG) is pleased to announce that it is in

advanced talks with an Asian National Oil Company

(NOC) to join a floating liquefaction project that

would monetise gas resources controlled by the NOC in

Australia. The proposed project would be developed by

a JV where FLEX LNG is in advanced discussions to

join the FLNG project together with one or more

technical and commercial partners.

Commenting on the talks with the NOC, Chief Executive

Officer of FLEX LNG Management Ltd, Philip Fjeld

stated:

"We are happy that FLEX LNG has been selected for

detailed discussions to join the FLNG project being

developed to monetise the gas resources in Australia.

We are confident that the work undertaken to date by

FLEX LNG and Samsung Heavy Industries to develop one

of the world's first LNG FPSOs will enable this

project to move ahead and achieve its near term goal

of producing LNG as soon as practically possible.

It is the aim to reach common commercial and

technical agreements between all project participants

shortly and FLEX LNG will provide further information

as various discussions are completed."

About FLEX LNG LTD

FLEX LNG was incorporated in 2006 with the objective

of commercialising among the world's first floating

liquefaction units (LNG Producers) and has signed

four ship building contracts with Samsung Heavy

Industries for LNG Producer hulls utilising the SPB

LNG containment system. In addition FLEX LNG on 17

September 2008 signed a contract with SHI for the

Engineering, Procurement, Construction, Integration

and Commissioning of the world's first floating

liquefaction unit. This provides the LNG industry

with a unique possibility of accessing currently

uncommitted gas reserves for LNG production from 2013

onwards.

By using the proven nitrogen expander liquefaction

cycle, the most robust and flexible liquefaction

technology in use in the LNG industry, the LNG

Producer is to source gas from numerous potential

offshore locations worldwide where natural gas today

is either left stranded or is being flared.

For further information please contact:

Investor.relations@flexlng.com