< "> 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

Looking good to me?
cyril


London, 21 September 2010 - At today's General Meeting the Chairman, Egbert Imomoh, opened the meeting with the following statement:

When Afren was formed and first listed in 2005, the vision was, and still is, to build a leading pan African independent Exploration and Production Company of scale. We identified our key priority at an early stage to establish a cash generative platform of reserves and production, upon which we could continue to build and grow. We are achieving this, with production ahead of pre-start up expectations on the Okoro field in Nigeria and the ongoing development of the Ebok field offshore south east Nigeria. During the first half of the year we reported net working interest production of 20,397 boepd and we are expecting an average daily production of 55,000 boepd for the full year 2011. This production growth has been accompanied by profitability. We recently reported a half yearly 2010 profit after tax of US$50.7 million, from revenues of US$214.8 million.

Taking into account the operational and financial profile of the Group today, we now feel it is appropriate to further build the exploration opportunity set within the portfolio. Our growing West African production base can now support a high impact exploration programme. The Black Marlin acquisition opens up a new and exciting core area for us. The Black Marlin team has assembled a high quality exploration inventory, with twelve assets located in Kenya, Madagascar, the Seychelles and Ethiopia. Encouragingly there are proven working hydrocarbon systems in each of the basins, which are characteristically under explored and have the potential to yield large scale discoveries. It is estimated that Black Marlin will increase the Company's net prospective resource base by 1.2 billion barrels of oil equivalent, with six high impact exploration wells expected to be drilled through to 2012.

East Africa is one of the few remaining true exploration frontiers. In comparison to West and North Africa, where around 14,600 and 19,000 wells have been drilled to date respectively, only around 480 wells have been drilled in East Africa. However, even this modest level of drilling activity has delivered substantial hydrocarbon occurrences in Uganda, Sudan and Madagascar in particular. The remaining potential of the region is tremendous, and continues to attract the interest of a wide range of companies including the Majors, large independents, NOC's and E&P's alike. As the corporate landscape in East Africa further develops and evolves, with competition for assets ever increasing, we feel that Black Marlin provides us with a position of scale in the region, and a unique opportunity for Afren to participate in multiple, potentially high impact exploration opportunities.



J

Looking very strong this am,with over 9m traded on friday (twice the norm)and almost 7m today,drilling news imminent and supply vessel to arrive in the near future,all systems go???
cyril

Cyril, The chart indicates AFR will shortly scoot upwards quite dramatically. I'm certainly hoping for 180-200p by the year end (assuming of course there are no nasty surprises!)

kuzemko - 08 Sep 2010 14:14 - 1204 of 1268
or maybe large funds are buying this stock and brokers with MM are suppling them with the right price.

like i said in above post, looks like i was right.
once the vessal arrives i reckon this will be worth min 3

3 a little opptimistic ,a M/Cap of 2.7billion would be one heck of a jump?
cyril

any one who buys 10% of company at 1.08 must be optomistic and have more information then retail crowd

Not long til lift off!!!!!!!!!!!!!!!!!!!!!!!!!!! Happy Happy.

Cleared 105 looks like 110 is the next hurdle.

Could it be that we are now going to see the sp jump ?....the daily penny increase might turn into 3p or 5p a go.....

Yep

+1

My pension growing nicely today.

An order has just appeared on the Buy side of the book for 235k @ 115p, wonder if this is what we've been waiting for?

fair bit of activity today....something brewing

Nice to see that largish order of 235k on the book, certainly helped to stop the Bid dropping during late afternoon trading.

From a trading perspective I'm planning to build a sizeable position during the remainder of the year in what will hopefully be a run up to my target of 180p-200p.

See Robbie Burns (Naked Trader) has returned to the fold, spread bet 30 @ 110 Target 130 Stop 98.

So I see Chris, he seems to have claimed you need nerves of steel as it's a volatile stock!? He must be on drugs.

ptholden - Aye, thought that myself, is he having a laugh :O)

I think it's fair to say I'm quite a fan of AFR, the fundamentals are excellent with plenty of anticipated positive news flow in the pipeline ('scuse the pun!).

I must admit I think I made an error of judgement when accepting the SP had broken through resistance at 105p without really checking the chart. When I had done so it became clear the true res was actually at 107p (arguably slightly higher - but I work on closing prices). As it turned out, no harm done as AFR has contunied to perform, albeit slow and steady rather than explosive.

Generally, stocks that are in an uptrend and stuck in a trading range (in this case 80p-107p) eventually break out with some conviction, AFR hasn't exactly done that (yet!) but the break out has been achieved based on good volumes and positive news.

The SP is currently in a nice tight rising channel, although possibly getting a bit close to the top of that channel. It's also worth mentioning that following break outs, a small retracement can happen to previous resistance which then acts as support. Obviously I have no idea if that will happen, but I won't be spooked if it does.

There isn't really any resistance now between the current SP and the all time high of 185p which is my minimum target by Xmas.

Additionally, I have circled a recent 'Golden Cross' (50 MA cossing 200MA whilst both heading North) one of the more accepted bullish indicators.

I have set a stop at 97p which represents a loss of 13pts (positions at 110p) but will obviously keep a close eye on proceedings. In the event the SP continues to perform I'll add at some point and certainly consider adding on any dips.

GLA

All of your text is live and takes us to photo bucket where presumably you stored the very pretty chart.??