< "> 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

what i find impressive about AFR is that, like TLW, their strike rate is phenomenal - it feels like about 4/6 or maybe even better, which is amazing against the accepted industry norm of about 1/5

If AFR are to become the next TLW,it'll be by proving up reserves which at present i
believe are roughly 130mbo. They could start by a positive update from Okwok,preferably tomorrow(what that would do for the SP with the present momentum)
,an extra 50/100mbo would do for starters.
cyril

TA Time!

I've posted the longer term chart in addition to a more recent one in an attempt to try and identify resistance levels where the SP may stall and shorter term movements.

To be honest horizontal res levels are quite difficult to identify until the SP reaches the all time high in the region of 185p. In fact I can only find two, the first at 138p and the second at 157p, both of which are very long term and somewhat tenuous. Additionally, there is the original trendline (which will join up with the all time high in January) which I would expect to be an obstacle, unless the SP gets through there beforehand.

To the shorter term, the SP has reacted in a classic fashion to a period of trading in a range followed by a breakout, the subsequent retrace and the burst upwards; all of which have been accompanied by expected volumes adding credence to the move North.

Quite clearly the SP has broken through the top of the Jul-Oct channel and convention states that this trendline will become support to any retrace; it will be interesting to see if it does. In any event 123p will hopefully be the new base from which to build and I'll be moving my stops up to lock in profits.

My target remains 185p in the next few months but somewhat sceptical we can get that far before January. Longer term, once past that level, the sky really is the limit and predictive TA with regard to targets becomes much more difficult.

On a side note I posted today that the court case in Dubai amounts to 6m, I have read somewhere else it is actually 0.6m so will hardly affect the SP. Edit:Read again this legal business is about 6m, so no idea what to believe - I don't really care!

Good luck to all holders, once through 138p I will average up again and certainly on any retracement which results in support being confirmed.

Must admit, didn't expect such a surge. My small steps have gone to stides...hope we don't see 115p again though I'm sure 120 - 125 might be back, a top up opportunity.aimo .,.

Merrill broker update following today's news - Buy / target 166p

Company operations update - Tuesday 26 October (I'm looking forward to that as we're still awaiting drilling news)

As one might expect some profit taking,settling down a little now.I thought of top slicing myself but the thought of Tuesdays interim report and proable drill result
made me stick,even considering topping up, dependent on news?
cyril

still plenty of activity today

unusual that after yesterdays big increase the price hasnt dropped today

Afren plc (AFR LN)

Conference presentation

London, 22 October 2010 - The Chairman of Afren plc today presented the keynote address at the Centre for Petroleum Information annual lunch held in Lagos, Nigeria.

The presentation materials, titled "The role of independents in the Nigerian oil and gas industry" are available on Afren's website at www.afren.com.

Nice little intra-day reversal resulting in a bullish candlestick.

For interest, as I mentioned might happen in my last TA post the SP bounced off what was the top of the previous channel, ie, resistance has become support, albeit early days.

Added again this morning during the dip, already in profit - long may it remain so.

Next stop 3.50 as posted on many occassions!!!!

3.50 will equate to a M/Cap of over 3.1billion,now thats just not going to happen om
production alone.To stand any chance ofreaching such a figure will depend on substanually increasing the reserves,we have many quality assets but they need to proven up.If as is thought the Okwok field is bigger than E-Bok(along with E-Bok deeps?) that would certainly go someway to reaching that goal,so Tuesday's interim report should give a much clearer picture?
cyril

Blanche

Longer term AFR may one day reach the dizzy heights of 3.50, but it won't be the 'next stop' and nor will it happen any time soon. Sorry, but that is just a dopey muppet, ramping, ill informed comment that is your forte on this BB. Unfortunately it detracts from this thread and the possible long term success of AFR. Do you have any idea what adding 2 BILLION pounds to the market cap actually entails? I guess not.

You're not blonde by any chance are you?

Cor, pth, you are playing with fire there! You are toast! ;o)

Where's the theVoid when you need him,AFR nentioned in the S.Times?
cyril

* UBS has a neutral for JKX Oil & Gas, raising target to 310p from 305p, a buy for Premier Oil, raising target to 18.45 from 17.65, a neutral for Soco International, cutting target to 335p from 370p, a neutral for Spirax-Sarco, with a 16.50 target, a neutral for Spectris, raising target to 11 from 900p, a buy for IMI, raising target to 900p from 800p, downgrades Halma to sell from neutral, raising target to 300p from 280p, has a neutral for Cookson Group, raising target to 575p from 475p, downgrades Cairn Energy to neutral from buy, cutting target to 435p from 525p and has a buy for Afren, raising target to 825p from 750p

What time scale did they give for AFR reaching 825p

No, Just broker note updates on citywire.co.uk

So what time scale did the broker give ?

A more realistic,

Barclays Capital has an overweight for Afren, raising target to 156p from 130p

cyril

cant believe the UBS Rating....been on the waccy baccy

Barclays would suit me fine