< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
http://www.investegate.co.uk/afren-plc--afr-/rns/2012-full-year-results/201303250700107200A/

In an attempt to cut down the header page,i've transferred some of the older news to Page1 post No.3.

http://www.oil-price.net/index.php?lang=en
http://www.ft.com/home/uk

http://www.investegate.co.uk/Article.aspx?id=201111020700081674R
http://www.investegate.co.uk/Article.aspx?id=201111150700250723S
http://www.investegate.co.uk/Article.aspx?id=201112010705051251T
http://www.investegate.co.uk/Article.aspx?id=201201170700146472V
http://www.investegate.co.uk/Article.aspx?id=201201230701479690V
http://www.moneyam.com/action/news/showArticle?id=4323758
http://www.investegate.co.uk/Article.aspx?id=201204170700164488B
http://www.investegate.co.uk/Article.aspx?id=201205140700212304D
http://www.investegate.co.uk/Article.aspx?id=201205210700407032D
http://www.moneyam.com/action/news/showArticle?id=4430164
http://www.investegate.co.uk/afren-plc-%28afr%29/rns/significant-new-seychelles-3d-seismic-programme/201212120700052973T/
http://www.investegate.co.uk/afren-plc--afr-/rns/2013-half-yearly-results/201308230700063334M/
http://www.investegate.co.uk/afren-plc--afr-/rns/ogo-drilling-and-resources-update/201311190700083404T/
http://www.investegate.co.uk/afren-plc--afr-/rns/trading-statement-and-operations-update/201401280700096280Y/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201405200700135209H/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201410300700116483V/
http://www.moneyam.com/action/news/showArticle?id=4942625
http://www.moneyam.com/action/news/showArticle?id=4943375

"Can't see any reason for getting in here yet" ,

i dont know why you would say that HARRY.

Because there is nothing to add to it's value until October (Ebok as per post #1056) & also the BME acquisition is considered to be a negative step by brokers (also adding no value until 2011 at the earliest).

harry this just proves how short sighted brokers are and how little they can be trusted to give sensible opinion to investors, best to DYOR.

As you say h, the BME deal won't be signed off 'til september, so my limited research still stands (together with a comparatively weak oil price). No one has yet come up with a conclusive argument why now is a good time to invest in AFR rather than wait until nearer Sept/Oct. (also, particularly if the sp isn't supported by the 200DMA on the chart. Lower highs & lower lows a possibility.)

harry you have to look forward to AFR producing 60,000 bopd by end of 2010 how many bopd is TLW producing at present with a market cap how many times greater than AFR?

just looked at "newspaper tips" courtisy of the Void, and see the Times quotes Bowleven up on bid talk from Afren but can't find any info from either side. Anyone put me right on this, I assume it's nothing to do with marlin deal..BB

It is just a rumour doing the rounds at the moment BB.

thanks kim,

RNS good news about Ebok Deep.

StockMarketWire.com
"African-focused oil and gas explorer and producer Afren has completed the Ebok Deep exploration well offshore Nigeria.

The well - located on OML 67 offshore south-east Nigeria - has been drilled to a total depth of 11,375 ft (10,085 ft true vertical depth).

Results of drilling and wireline logs have shown that the well intersected two sandstone intervals of 370 ft combined gross thickness in the targeted Biafra and Isongo formations, with oil shows providing good indications of oil migration pointing to potential for oil trapped up-dip from the current well location.

The well has been temporarily abandoned and will be available to use for further drilling in the area.

The well has demonstrated a working hydrocarbon system in the deeper Biafra and Isongo formations, and that excellent quality reservoir sands are present.

The results will be followed up with further detailed technical work, and will be incorporated into the subsurface model to assist in future exploration of the significant potential that exists in the deeper horizons at Ebok, Okwok and OML 115 which are contiguous with each other. "

It's good news for the long term, but doesn't really change much until all the technical stuff is done, imo. Once the analysts get their hands on the technical data & then upgrade the stock, then the sp should reflect that.
Lots of potential, but nothing on the surface yet.

Is AFR a buy or sell now???

if anything a buy i would have said ..... i think this has huge potential

Having huge potential and demonstrating it are two different things.

Down again!! Hopeless atm.

Probably in sympathy with this Nigerian state owned oil company that's gone bust....how on earth does an oil company like that go bust ?.

I think there is some dispute about it going bust.

It's all down to corruption which is rife in Nigeria, officials lining their pockets with millions...
NNPC unable to repay debt of 5 billion dollars.

StockMarketWire.com
Afren has agreed to acquire Energy Equity Resources Oil and Gas's residual licence interest in OML 115, offshore Nigeria.

This will increase Afren's net interest in OML 115 from 32.5% to 40% with Oriental Energy Resources retaining a 60% interest.

Afren will pay EER a contribution towards its back costs to acquire the 7.5% interest.

OML 115 is next to Afren and Oriental's Ebok and Okwok fields.

Afrenc chief executive Osman Shahenshah said: "Since the original acquisition of an interest in OML 115, we have carried out extensive technical work, identifying greater potential both in the D series reservoir intervals and most recently the up dip potential of the deeper Biafra and Isongo sands, as established by the Ebok Deep well.

"This acquisition we are announcing today (15 July) further aligns Oriental and Afren's involvement in this area."

www.moneyextra.com/stocks/watch-list.php

cyril