< "> 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

Not an easy decision but I closed my SB @ 133.6 + 28.9. To good a profit to turn down, can easily get back in see how it goes tomorrow.

Good move CC. Now 129p.

Cheers Harry, will adopt a trailing Limit Buy :O)

Seems the interim report has been delayed until Thursday,makes one wonder why?
cyril

Cyril

Apparently there has always been some confusion over 26th or 28th, so not sure if it has been delayed or not - I was expecting it today, but I guess another few days won't hurt.

presumably the Virini Prem and the MOPU have yet to arrive.

Both the MOPU and FSO are expected to arrive on location during November with production start up remaining on track by year end.

Limit Buy (SB) @133.9

.

oh dear if they like it you know what to do.

As previously mentioned, SPs often retest old resistance following a breakout. The SP having broken through the top of the last trading channel has returned to test for the second time. If the update doesn't inspire tomorrow I imagine the SP will fall back into this channel and may possibly find support at 123p or thereabouts - hopefully the new support will do the job! Guess we'll find out in the morning.

Well here it is.
cyril

Interim Management Statement

London, 28 October 2010 - Afren plc ("Afren" or the "Company"), issues the following Interim Management Statement, in respect of the period 1 July 2010 to 28 October 2010, in accordance with the reporting requirements of the EU Transparency Directive. Information contained within this release is un-audited and is subject to further review.

Highlights

u Stable net production of 16,101 boepd to 30 September 2010

u Acquisition of a 45% interest in OML 26 from Shell Production Development Company of Nigeria Ltd., Total E&P Nigeria Ltd., and Nigeria Agip Oil Company, by First Hydrocarbon Nigeria

u Ebok development progressing, with first oil expected by year end

u Okwok appraisal ongoing - 35 ft of good quality pay encountered in the D2 reservoir; flowed 31 API crude oil at constrained rates intended to ensure integrity of the completion

u Acquisition of Black Marlin Energy completed - multi well exploration campaign defined through to end 2012

u Exploration drilling on OML 115 now scheduled for early 2011 (60 mmbbls Ufon prospect to be drilled)

u Infill drilling at the Okoro field by year end expected to add incremental gross rates of between 3,000 bopd to 5,000 bopd



Osman Shahenshah, Chief Executive of Afren Plc commented:

"2010 has, so far, been a year of unprecedented activity for Afren with portfolio growth across the full cycle E&P value chain. In Nigeria, Afren's support of First Hydrocarbon Nigeria's acquisition of a 45% stake in OML 26 from the operating subsidiaries of Shell, Total and ENI marks an important milestone in our long term commitment to the indigenous oil and gas sector. This acquisition is materially accretive to Afren's NAV, and is a strong endorsement to Afren's long term strategy. Our existing platform of producing assets continues to underpin the business, providing the strong foundations upon which we have been able to grow. The Ebok field development is progressing well with first oil expected by year end. Having also now completed the acquisition of Black Marlin, opening up a new core area for us in East Africa, we are preparing to enter an active exploration phase, with multiple wells scheduled in 2011."

Well, I can't say i was over the moon with today's statement, I guess I was hoping for a bit more that would maintain the SP's upward momentum. Once it dropped back into the channel, I decided to close all of my SB positions for a net gain of +33. Overall, I'm quite disappointed that the SP didn't quite match my expectations this week, but I do believe in AFR and had I held shares rather than SBs I wouldn't have sold.

that's when CFDs are useful - no time constraints

Time constraints were not really an issue, but when you've built a leveraged pyramid and it starts going the wrong way, time to get out before it collapses!

Limit Buy moved to 131.9, might not happen tomorrow but no way is it a short play just yet imo :O)

For me yesterdays news was of a good report,steady production,confirmation E Bok
on track for 1st oil in what 8 weeks? Also add Okwok 35ft@31degrees and on going appraisal,Okoro infill to increase ooutput by 3/5kbopd OML26 increase by 1500bopd
to 6500bopd of which 45% of net revenue of AFR and the possible increase of reserves
from 184mbo to 800mbo and the aquistion of Black Marlin to add to our list of assets make me feel comforable with my holding.
cyril

edit
That shoulf be 45% of 45% of FHN share.

Looking to break out?
cyril

Oil $85

Afren Plc (AFR LN)

Statement on incident in Nigeria

"London, November 8, 2010 - A security breach has occurred on the High Island VII jackup rig, which had recently arrived on location, preparing to commence infill drilling at the Okoro field. Two crew members are stable after receiving wounds to the leg, and have been evacuated by helicopter to a shore-based clinic. It is believed that five crew members have been taken hostage. A second security breach occurred at the AT 101 support vessel. Together with our indigenous partner AMNI International, we are working with the relevant authorities and the vessel and rig are both under the control of the Company. Drilling operations on the rig are temporarily suspended. An update will be provided in due course."