< "> 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

Part of Citi Group broker note:
"Next Steps Work is underway to further evaluate the field and to work up conceptual development solutions that may include a standalone project or a satellite tie-back to the Ebok development c15km to the West. 1st oil from Phase I of the Ebok development is expected before year-end. While it is still early days, we believe Afren will look to drill another appraisal well at Okwok in 2H 2011. Note in 1Q 2011, Afren will also be drilling an exploration well targeting a 60mmbbl prospect on the nearby OML-115 licence (4p risked, 16p unrisked).
Valuation We have included 4p in our valuation for the 20mmbbl of oil which had already been discovered at Okwok. This mornings update adds further confidence to our core Okwok valuation while also further de-risking some of the remaining upside potential associated with the deeper Qua Iboe, Biafra and Isonga formations (7p risked, 11p unrisked) which we expect the company to target in 2H 2011. Recognising the positives of this mornings update, we maintain our 1.22 NAV (yet to be updated for the OML 26 acquisition)."

From today's Telegraph:

http://www.telegraph.co.uk/finance/markets/questor/8157880/Questor-share-tip-Afren-confirms-scale-of-Nigerian-field.html

extracted from that Questor article .....

Afren's financial position remains strong, with net debt at September 30 being $64.2m (40.7m) and cash in the bank of $166.2m....... The shares are trading on a December 2010 earnings multiple of 24.3 times, but increasing production next year means the multiple falls to 5.6 in 2011.
Although there is some risk with all explorers, the company's management has been delivering on its strategy. The shares remain a buy for their increasing production and exploration upside, as the company has a significant drilling programme planned for 2011.

One of the least risky stocks with upside,.....and that's in Nigerian waters.....

what is the chart telling us?

Current results already priced in & sideways trading until next news due?

News of a prioroty loan,looks like they're transferring debt from ome source to another,i hjink?
cyril

Stockmarket is down,...but one or two are rising : AFR,COV and XEL this morning....

resistance at 1.30, are we expecting any news before XMAS and get an early xmas present or will be after ? Any views ?

Doh!!!!

thanks for your pointless view !

moving up news about Ebok coming?

if there is.....this plus xel, des, rkh, bpc, kah. we're in the money.,.

Bofa Merrill has rasied it's arget from 171p to 185p.
cyril

Come on lets see 1.50 by xmas! Should be easy with news.

.

.

bit like pulling teeth getting this sp on an upward track, but at long last it has broken into new high ground ..... let's hope it will hold

cynic touching 140p do we have lift off?

you, Master of the Universe, are asking me???
i would like to think so, but even if not, am pretty happy to sit patiently while sp ticks gently upwards