Amities . l have been discreetly buying this stock since it was 39p . And the more i learn the bolder are the positions i take . .....Floated in Dec 2004 it was oversubscribed and before costs the required $15 million was raised. At the helm is ex BP head of Global exploration and Resavoir management . Furthermore a success story at Global Expo . Now Nick Johnstone wants to set up on his own . And after speaking to him l am not at all surprised . He is like a "Who s Who " of the hydrocarbon world ...He has ALL the prerequisites for success so why work for some other lackey ! .. namely connections from his ertwhistle employers . He has assembled a first class management team from ex colleauges at BP ; and is his business model is simple . AFR farms in on "Big Oils " inception upstream ; and with its scale of economy it works closely with "Big oils" fields on the look out for excellent workovers oppertunities .... Already lt has via a complicated j/v a percentage of the Sao Tome and Principe acreage -Located between the oil rich waters of Nigeria and those of Sao Tome and operated by Texaco / Chevron and Esso; and believed by many to be the new North sea . . 3D Seismic testing and magnetic graphic imagery and satellite imaging has located a labyrinth of channels leading to a main resavoir which is believed to14-15 mmbbls of oil and which would leave AFR with its share of 120/140 million barrels for NO cash outlay .To ensure early cash generation Afren has entered into a production sharing agreement in the developed Ogedeh field { adjacent to the BP operated Olowi marin field which is believed to yield 180 mmbbloe. Furthernore AFR has agreed to drill the lbekelia project for Ascent resources which is expected to produce 2,500 b/pdoe to satisfy AFR percentile share ,ln addition it is a believed resouce of several years . .. , .Not a bad start for a company with little more than six months in the making . ....and well worthy of investigation !! .....@+ J

good morning all

Afren PLC
17 July 2006



Afren plc (AIM: AFR)

Upsizing of Convertible Bond Issue by US$25 million to US$75 million

London, July 17, 2006 - Afren plc ('Afren' or the 'Company') is pleased to
announce that it has upsized the previously announced private placement by US$25
million to US$75 million equivalent in British Pounds of Convertible Senior
Unsecured Bonds due 2011 (the 'Bonds').

On July 4, 2006 the Company announced the closing of a private placement of
US$50 million equivalent in British Pounds of Bonds, to be used to fund the
exploration, development and production programme of its diversified portfolio
of 10 assets across Nigeria, Nigeria Sao Tome and Principe, Gabon and Congo.

The entire upsizing of the Bond issue of US$25 million has been placed with a
private investment fund of the Heerema Group, a Dutch based market leader in
global oilfield services, focused on the design, fabrication, transportation and
installation of offshore facilities. The Heerema Group has an expanding presence
in, and commitment to, West African offshore activities and this investment
reflects its support for developing indigenous African energy companies. The
additional Bonds have been issued under identical terms to those previously
announced, as summarised below.

Brian O'Cathain, Chief Executive, commented:

'The upsizing of the issue highlights investor support for Afren and its plans
to create shareholder value through rapid expansion in the Gulf of Guinea
region. We are particularly pleased that the Heerema Group has chosen to become
a significant Afren stakeholder, which offers strategic benefit for the
Company.'


Enquiries:

Afren +44 20 7182 1800
Brian O'Cathain
boc@afren.com
Osman Shahenshah
os@afren.com


Pelham Public +44 020 7743 6673
Relations
James Henderson
james.henderson@pelhampr.com
Alisdair
alisdair.haythornthwaite@pelhampr.com
Haythornthwaite


Background information

Summary of the Bonds

The Bonds were issued at 100 per cent. of the principal amount and denominated
in British Pounds. The Bonds bear a coupon of 9 percent per annum (payable
semi-annually), mature in 2011 and are convertible into ordinary shares of the
Company. The conversion price of 60 pence per ordinary share, was set at a 25
percent premium to the price determined in the pricing period leading up to
closing. The Bonds also contain other terms, including anti-dilution provisions
effective in the event of certain future issuances, a bondholder put option,
payable in cash or shares (at a discount to the share price during the period
prior to the payment) at the Company's option, a Company call option, and the
ability to make coupon payments in cash or shares (at a discount to the share
price during the period prior to the payment) at the Company's option.

Afren

Afren (
www.afren.com
) was founded in December 2004 by a management team
including Dr Rilwanu Lukman with the vision to become the leading pan African
independent Exploration and Production company. Since its listing on the AIM
market of the London Stock Exchange, Afren has rapidly expanded its portfolio
and the management team has delivered ten assets in the Joint Development Zone
of Nigeria Sao Tome and Principe, Nigeria, Gabon and Congo.

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

UPSTREAM NEWS JDZ - Chevron targets drilling to firm up Obo-1 discovery

CHEVRON may resume drilling at the Nigeria-Sao Tome&Principe Joint Development Zone Block 1 within three months, writes Barry Morgan.

Depending on rig availability, Chevron, alongside partners ExxonMobil and the Dangote-Energy Equity Resources-Afren tie-up, will be anxious to determine the commercial extent of the Obo-1 discovery, said sources within the Abuja-based Joint Development Authority (JDA).

Drilled in March, the Obo-1 wildcat hit hydrocarbons. Samples are still being analysed but at least two wells are committed under the work programme.

Drilling is also planned this year for blocks 2, 3 and 4, operated by Sinopec, Anadarko Petroleum and Addax Petroleum respectively, but the consortia are still "shopping around for rigs".

The JDA this week confirmed all budgets and work programmes had been approved.

Production-sharing contracts for the remaining joint development zone blocks 5 and 6 have yet to be signed because partners still have to finalise the joint operating agreements.

Operatorship of Block 5 has gone to private Iranian outfit ICC-OEOC, while Block 6 has gone to Nigeria's Filthim-Huzod.

Houston independent ERHC Energy has a 15% stake in both licences.

Examination of these two remaining licences will be uppermost on the agenda of the new JDA chairman Ado Yakubu Wanka, who took office late last week, and will also head up the Finance&Administration Department.

Also appointed last week was fellow Nigerian Morrison Anthony Fiddi, a Florida-trained geologist, who will lead the JDA's Monitoring&Inspections Department.

Wanka replaces Sao Tomean Carlos Gomes under Article 10 of the JDZ Treaty, which requires the chair to be rotated annually between Nigeria and Sao Tome.

Hmmm . . .

NAV estimated in IC to be 93p/share.

40 million in the bank.

Oil & Gas found at Obo-1.

PSA in place for Okoro and Setu, production due to begin in 2008, 7,500 bopd net to AFR approx.

Targeting production of 15,000 to 20,000 barrels of oil per day by 2008 from existing portfolio.

Acquisition of Congo assets from Heritage Oil:

IMPACT ON AFREN

* Immediate production (25% interest of 1,093 bopd gross Kouakouala field
production)

* High impact exploration potential on the La Noumbi licence with 2,830
sq km of under-explored acreage (Afren: 14%)

* Share of potential of the Mengo Field which has 2 billion barrels of
oil in place (Afren: 30%)

* Strategic entry into Congo

* Continuation of pan-African diversification strategy


I'm beginning to wish I was in this, especially at current low SP. The future looks good, IMO.

ST,

Agree .......I'm already in with a smallish holding. This is a longer term hold for me.

Right. Currently my risky Africa experiment is in GBP (not forgetting HNR). Once again I find myself fully invested and hoping that the next few months are going to be exciting.

Still keeping my eyes open though.

AFREN plc ('the Company')

Shareholding in the Company

The Company was notified on 29 August 2006 that, as at close of business on 24
August 2006, Lehman Brothers International (Europe) had an interest in
22,443,303 Ordinary Shares of 1p each in the Company, representing 11.80% of the
total issued share capital of the Company.

is that more or less than they had before ? could be the start of some big selling if they've just started reducing...

13.02 to 11.8 %

Amities/ Numerically from 24.67 million to 22.44 million . Quickly snapped up and strangely l suspect this will lead to a hike in the s/p today and in the next few weeks . @+ J

good afternoon all
some very big trade's today a 16m broker to broker sell and a 1m buy at present over 25m trade's , some suggested why does a broker need 16m ? ,well a small rise today and am looking forward to the next few month's maybe some very good news
Keith

A very decent rise so far today. Now I wish I had bought this last week!

AFR Bid: 52p Offer: 55p Change: 4.5

Hello soul, I rebought this morning and am sitting blue.

I had a lot of trouble getting the stock, but that can mean anything.

I had been in previously but decided that I did not need to hold while the sp went down, as it did.

The uptend is proven I think, so it's time to get some in, so I did.

Take research from the web site and make you own mind as you did elsewhere before you decide whether you want to buy.

Hi Seawall - seems you did the right thing, in all respects. I'd like to be in this, but my perennial problem is that of already being committed to a number of different stocks. Still, I'd consider this one a candidate if I get to take any profits that I'd like to reinvest.

Amities / From a purely chartists vantage point alone this is a screaming " BUY ".. Albeit a point of contention lt has been my MY expirience- Yes ! my expierience - that any difficulty in attaining stock is a positive variable ; and upon viewing the B to B trades ( Friday and Monday ) illustrates that they themselves were caught with their trousers down .( lnformed Brokers dont buy 16 mill shares to sit on; but rather to pass on @ a nice premium . ..Having been in this stock for what seems ages l cannot find ANY other junior that can equal its potential nor have so many esteemed reputations at stake. . l PERSONALLY view this as a Cairns in the making. ....A very heavyweight board inc. both an EX Chairman and Secatary General of OPEC to match the heavyweight acreage to match the heavy institutional holdings/ support . .This is my biggest percentile holding @ 28% . .........Biggest problem is AFR being bought out while still such an acorn ..../.....As an aside- Word on da street has it that PMO is under the eye of an ever watchful Shell as is VOG and EEL by various other suiters .. Qui sait ? Bien amicalment et b/ chance ....@+ J ...........................................................................................................

Does this explain the recent interest and sp rises?

Afren have not said a thing yet

Clearly cementing their relationship:

Gasol plc
06 September 2006


For Immediate Release 6 September 2006

GASOL PLC
('Gasol' or 'the Company')


Notification of Substantial Shareholding

Gasol plc (AIM: GAS), the company formed to capitalise on acquisition and
investment opportunities in the oil and gas sector, announces that it was
notified on 5 September 2006 that Afren plc has a notifiable interest in
10,000,000 ordinary shares of 0.5p in the Company, representing 6.98 per
cent of the Company's issued share capital.



ENDS

Picked up this snippet from an e-mail:

The Nigerian focussed resource play has both longer term prospects and near term development projects, though the group now needs to focus on execution. Broker Canaccord Adams advised clients to buy the shares with a target price of 78p.

Good post, Silvermede.

BTW, thanks for your mail - very interesting; I shall have to take some time to do it more justice.

ST, You're welcome. Suggest any further discussion on Drivers Tips thread. Happy reading. :-)

Afren PLC
20 September 2006


Afren plc

Interim Results

Afren plc ('Afren' or the 'Company') (AIM:AFR), the independent oil and gas
exploration and development company, announces its interim results for the six
months ended 30 June 2006.

Highlights

Acquisitions and Operations

Strategic entry into the Republic of Congo (Brazzaville) through the
announced acquisition of Heritage Congo Limited

Agreement signed with AMNI International Petroleum Development Company
for the development of the Okoro / Setu fields offshore Nigeria,
significantly upgrading Afren's recoverable reserves

Announcement of Obo-1 discovery on Block 1 of the Joint Development Zone

Management

Appointment of experienced industry personnel as Drilling Manager and
Okoro / Setu Asset Manager

Financial

Successful convertible bond issue, after the balance sheet date, upsized
to US$75 million from US$50 million following strategic investment from the
Heerema Group

Company well capitalised with 11.3 million net cash as at 30 June 2006,
which excludes US$75 million from the convertible bond issue

Outlook

Drilling contract secured for the Seadrill-7 Jack-up drilling unit for
the 2006 appraisal well programme on the Okoro / Setu fields, commencing end
September

Exploration drilling to be carried out on La Noumbi licence in the
Republic of Congo (Brazzaville) before the end of 2006

In a separate announcement today Afren announced a nine month contract
secured for Global Santa Fe's Adriatic VI Jack-up drilling unit for 2007-08
Nigeria development programme, targeting first production in early 2008

Brian O'Cathain, Chief Executive of Afren plc, commented:

'At the time of Afren's listing in March 2005, the Company stated that its aim
was to grow into a leading pan-African oil and gas company with a diversified
portfolio through acquisition. During the first half of 2006 we have continued
to demonstrate our progress in achieving this.

The second half of the year should prove to be a step change period for Afren as
we begin the Afren operated appraisal drilling in Nigeria and we move towards
the development stage of the Okoro and Setu fields and our target production of
15,000 to 20,000 barrels of oil per day in 2008.'