< "> 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

lovely innit!

Bliss!

Magic!

at least we know why the strength in this stock - unlike in the likes of CHAR!

ptholden thanks again good advice pleased i did not sell

A pleasure to be of service Mr Deputy, hopefully a lot more to come :-)

i hope so mr ptholden keep warm

even i have been extolling the virtues of this stock/company for a long time

I've added to thetop of header AFRs site,investor relations.Goto presentations for todays update.

hopefully today's presentation will impress and produce further tick up

Fste 100 not to far away now chaps. Do you believe now! 8-)

Super again !!!! :-)

StockMarketWire.com
Afren cut to hold from add at Oriel.

from whatshot.cum
Afren (AFR)
I've been asked by a subscriber to provide an update on this one following the strong run we've had in recent months. The valuation is currently underpinned by a strong reserves and production base, with 2P reserves and contingent resources of 113 million boe (barrels of oil equivalent), net prospective resources of approximately 2,340 million boe, and forecast average daily production of 60,000 boepd (from the first half of 2011). There is significant potential for drilling to add upside to the valuation, particularly through licence OML 26, onshore Nigeria, a 45% interest in which was acquired by First Hydrocarbon Nigeria (FHN) (in which Afren owns a 45% stake) from Shell Petroleum Company Nigeria. Whilst this is a longer term project for Afren (the first investment phase isn't expected to be completed until 2013), the upside is potentially very significant indeed, with exploration potential of 615 mmboe (million barrels) gross unrisked prospective resources, on top of existing independently certified recoverable reserves and contingent resources of 184 mmbbls.
In the nearer term exploration upside rests with the Black Marlin acquisition in East Africa, which brings with it 12 exploration blocks located in Kenya, Ethiopia, Seychelles and Madagascar. The acreage is located in basins with proven petroleum systems and the company has already identified a number of leads and prospects which are being worked up as potential drill targets. Conveniently, Black Marlin also owns a seismic company which will continue to undertake all future work in the acreage and several key members of the management team have stayed on to assist Afren with its exploration objectives. Afren plans to collect seismic and drill six wells over the course of 2011 and 2012, with an eye to proving up 910 million barrels of oil equivalent (boe) of potential resources during this campaign.
Production is currently being ramped up with the advent of the Ebok development which will initially produce at a rate of c.15,000 bopd by year end, ramping up to 45,000 bopd in Q2 2011. This will eventually be augmented by the adjacent Okwok structure, which should see production reach 100,000 bopd by the end of 2012. Even assuming an uber conservative $20 net profit per barrel, this would imply cash generation of c. $730 million per annum - let's call it 500 million - from 2012 onwards, which looks great value versus the current c.1.5 billion market cap. Although we're currently showing a 355% gain on my April 2009 tip, I see no reason to jump ship just yet. Strong Hold, at 158.4p.

According to Platts, Shell will announce successful buyers next week."

http://allafrica.com/stories/201101140858.html

StockMarketWire.com
Afren maintained excellent production performance at its operations in Nigeria and Ce d'Ivoire in 2010.

And the firm said it also advanced the Ebok development, with first oil currently targeted for February.

CEO Osman Shahenshah described 2010 as a defining year for the company.

He said: "We continue to add reserves to the Ebok/Okwok/OML 115 complex, having recently successfully established the commerciality of the Okwok field.

"Importantly, we have announced the acquisition of Shell, Total and ENI's stake in OML 26, Nigeria, through our indigenous partner First Hydrocarbon Nigeria.

"This ground breaking acquisition is materially accretive and crystallises our Nigerian acquisition strategy, where we expect further opportunities.

"The acquisition of Black Marlin Energy has opened up a new core area for us in east Africa, significantly increasing our exposure across the full cycle E&P value chain and allowing us to leverage our west African production base and pursue multiple high impact exploration opportunities.

"Looking forward we have a nine well exploration and appraisal drilling programme in 2011 targeting an estimated 600 mmboe net resources and we expect further accretive acquisitions."

Cheers harry,here's the RNS with highlights.

Afren plc (AFR LN)

Trading statement and operations update

London, 26 January 2011 - Afren plc ("Afren" or the "Company"), issues the following trading statement and operations update, in advance of the Company's 2010 full year results which are scheduled for release on 29 March 2011. Information contained within this release is un-audited and is subject to further review.

Highlights

u Net working interest production averaged approximately 14,320boepd in 2010, and is expected to average circa 40,000 boepd in 2011 with an exit rate of 55,000 boepd

u Ebok field development at an advanced stage

o Phase 1 and Phase 2 wellhead platforms installed; pipelines in place

o Three Phase 1 production wells tested at combined rate of 12,500 bopd, supporting the Company's guidance of 15,000 bopd from five wells in Phase 1

o Production facilities all in transit to field location; currently targeted to come onstream February 2010

u Okwok field confirmed as a commercial development project

u Acquisition of OML 26 onshore Nigeria by First Hydrocarbon Nigeria (FHN)

o 184 mmbbls gross recoverable reserves at the Ogini and Isoko fields

o 144 mmboe gross contingent and 615 mmboe gross prospective upside

o Phased work programme estimated to increase production up to 50,000 bopd

o Transitioning of operational control is advanced withrequisite approvals anticipated shortly

u Acquisition of Black Marlin Energy established core presence in East African rift and coastal basins

o Four new country entries with multiple high impact exploration targets

u Full year 2010 capital expenditure of approximately US$410 million; forecast capital expenditure in 2011 of approximately US$410 million

u Net debt at 31 December 2010 approximately US$142 million; cash at bank approximately US$140 million

u Up to 9 exploration and appraisal wells planned in 2011 targeting an estimated 600 mmboe net resources



Osman Shahenshah, Chief Executive of Afren plc commented:

"2010 was a defining year for Afren. We maintained excellent production performance at our operations in Nigeria and Ce d'Ivoire and have advanced the Ebok development, with first oil currently targeted for February. We continue to add reserves to the Ebok/Okwok/OML 115 complex, having recently successfully established the commerciality of the Okwok field. Importantly, we have announced the acquisition of Shell, Total and ENI's stake in OML 26, Nigeria, through our indigenous partner First Hydrocarbon Nigeria. This ground breaking acquisition is materially accretive and crystallises our Nigerian acquisition strategy, where we expect further opportunities. The acquisition of Black Marlin Energy has opened up a new core area for us in East Africa, significantly increasing our exposure across the full cycle E&P value chain and allowing us to leverage our West African production base and pursue multiple high impact exploration opportunities. Looking forward we have a nine well exploration and appraisal drilling programme in 2011 targeting an estimated 600 mmboe net resources and we expect further accretive acquisitions."

The MOPU is finally on it's way,been anchoted up at Cape Town for several weeks.In place to meet the Feb 1st production from E-Bok,seems to be the plan?

decided to take a good profit as today's news did not add anything not included in the sp, political risk weighs heavily in Africa at the moment.

There is no political risk for Afren at the moment.....great share to keep....there was bound to be a pullback after all the rises....sooner or later...it'll go up again....