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

as the chart clearly shows, it's the 105 level that needs to be breached with impetus before sp will even think about motoring

cynic results out on 31st august may provide that impetus.

jolly well hope so, though it looks possible that it will happen before then

Momentum building here leading up to results. Plus sentiment generally seems to be picking up. Personally i think we are going through that 1.05 point no problem.gla

Lets hope we blast through the 105 this time ,some good news might do it.

Naming and Sail Away Ceremony of Ebok field FSO



London, 5 August 2010 - Afren plc (Afren) and its partner Oriental Energy Resources (Oriental), announce the Naming and Sail Away Ceremony for the Virini Prem Floating Storage Offloading vessel (FSO) at the Yulian shipyard in China.



The Virini Prem FSO (formerly Prem Prachi) will be the crude oil storage and export facility for the Ebok field development located offshore south east Nigeria. The indigenous company Century Energy Services will be the ship crewing agent in Nigeria.



The Virini Prem, a 267 metre and 174,917 ton vessel which has been refurbished at the Yulian shipyard in China, will store and offload for export, stabilised crude oil that will be produced and processed at a dedicated Mobile Offshore Production Unit (MOPU) at the field location. The FSO has a storage capacity of 1.2 million barrels and will accommodate regular crude oil offtake by tankers up to VLCC size. Refurbishment work included steel replacement in certain sections of the hull, existing equipment on the vessel (such as export pumps), installation of a helideck and accommodation modules for up to 50 crew. The fiscal metering package has successfully undergone acceptance testing to DPR approved standards. The successful execution of refurbishment work on the FSO is a major milestone for the Ebok project.



In readiness for the arrival of the FSO, all 12 mooring lines have also been successfully pre-installed at the field location. Additionally, fabrication of all flowlines required to transfer produced crude oil from the MOPU to the FSO has been completed, which will be stowed on the FSO for transport to the field. Development drilling activities remain on schedule at the field, where six horizontal production wells and one water injection well are being drilled and completed in advance of the FSO and MOPU arrival.



Ebok is one of the largest independent developments undertaken in Nigeria to date and Oriental and Afren believe that the field is part of a prolific hydrocarbon area that has substantial further potential. Afren extended its asset base in 2009 and 2010 to include further partnerships with Oriental in the Okwok and OML 115 assets adjacent to Ebok. Appraisal well drilling is shortly due to commence at Okwok and will be followed by an exploration well on OML 115.



The Permanent Secretary of the Federal Ministry of Petroleum led the Nigerian Government's delegation, together with representatives from the Nigerian National Assembly, the Department of Petroleum Resources (DPR) and the National Oil Company, NNPC, at the ceremony. The event was also attended by representatives of the Chinese government, the board of Oriental led by its Chairman Alhaji Mohammed Indimi and senior personnel from Mercator.



Osman Shahenshah, Chief Executive of Afren, commented:



"The Virini Prem FSO Naming and Sail Away Ceremony is a major milestone for the Ebok development, and an important step towards first oil, at what will be a core production hub for the broader Ebok/Okwok/OML 115 area. We are very grateful for the continued support from our partners at Oriental, Mercator, the Government of Nigeria, Department and Ministry of Petroleum Resources and the local Effiat community."



Alhaji Mohammed Indimi, Chairman of Oriental, commented:



"Oriental is delighted at the progress we have made with Afren on the Ebok development, and we are honoured that the Federal Government of Nigeria sent a delegation led by the Permanent Secretary of the Ministry of Petroleum as representatives at the ceremony. The FSO Sail Away is a major milestone in what will be one of the largest independent Nigerian developments to date."



Engineer Goni Musa Sheikh, Permanent Secretary in the Ministry of Petroleum Resources commented:



The combination of a unique local partner in Oriental Energy Resources, the financial and technical capabilities of Afren and the support of Chinese, Indian and Nigerian contractors demonstrate the strong nature of the partnership approach, a model for the future development of the Nigerian Oil and Gas Sector. The Ministry would like to congratulate all the parties involved."



Atul Agarwal, Managing Director of Mercator commented:



"We are delighted to have undertaken the conversion of the Virini Prem FSO at the Yulian Shipyard. The support of the shipyard was instrumental in achieving the fast-track time line. The Virini Prem will be manned jointly with Nigerian crew. We have invested in the training of Nigerian crew and will continue to do so in the future. We are also pleased to have Century Energy Services Ltd., an indigenous Nigerian company, as our ship crewing agent in Nigeria."

Good news...this could be the time when the sp punches a hole in that 105p resistance area....

Or not. Really disappointing stock imo. Gonna take more than a ship refurb to get this motoring.

Ebok production to start in October,production targeted at 35000 bopd by end of 2010 which means AFR should be producing 50000 bopd, what sort of cashflow is that?!

One step closer to production. And me making shed loads imo

so what price did you buy at harry that you are sulking so badly?
even i'm in the money here, and it remains one of my few core stocks

Have you lot looked at GKP yet....went up to just past 108p this morning.

Cynic

Make CEY another if you haven't all ready

must have another look at those .... sold mine 2/3 months back and have not been watching their radar blip

Need a few days at three times this volume, then we will really start to motor.

blanche agree with 50000 bopd generating in excess of $1 billion pa by end 2010 difficult to justify such a low sp

TLW is producing almost 60000 boepd and has currently a market capitalisation of around 11 billion whereas AFR should be producing 50000 bopd shortly but has a market capitalisation of only around 900 million totaly undervalued and must end up as a takeover target.

Bought at 89 on 25/06 & sold at 93 on 27/07 for my last foray into AFR. Graph trend is still down & nothing on the immediate horizon to change my mind. Long term possibly a good hold, but I can use the money elsewhere for a better return atm.

i think you're wrong, but time will tell

So do i , i think this could have a nice leg up in the next few months ,i'm not selling ,i sold Tullow to soon and regreted it ever since.