Amities . l have been discreetly buying this stock since it was 39p . And the more i learn the bolder are the positions i take . .....Floated in Dec 2004 it was oversubscribed and before costs the required $15 million was raised. At the helm is ex BP head of Global exploration and Resavoir management . Furthermore a success story at Global Expo . Now Nick Johnstone wants to set up on his own . And after speaking to him l am not at all surprised . He is like a "Who s Who " of the hydrocarbon world ...He has ALL the prerequisites for success so why work for some other lackey ! .. namely connections from his ertwhistle employers . He has assembled a first class management team from ex colleauges at BP ; and is his business model is simple . AFR farms in on "Big Oils " inception upstream ; and with its scale of economy it works closely with "Big oils" fields on the look out for excellent workovers oppertunities .... Already lt has via a complicated j/v a percentage of the Sao Tome and Principe acreage -Located between the oil rich waters of Nigeria and those of Sao Tome and operated by Texaco / Chevron and Esso; and believed by many to be the new North sea . . 3D Seismic testing and magnetic graphic imagery and satellite imaging has located a labyrinth of channels leading to a main resavoir which is believed to14-15 mmbbls of oil and which would leave AFR with its share of 120/140 million barrels for NO cash outlay .To ensure early cash generation Afren has entered into a production sharing agreement in the developed Ogedeh field { adjacent to the BP operated Olowi marin field which is believed to yield 180 mmbbloe. Furthernore AFR has agreed to drill the lbekelia project for Ascent resources which is expected to produce 2,500 b/pdoe to satisfy AFR percentile share ,ln addition it is a believed resouce of several years . .. , .Not a bad start for a company with little more than six months in the making . ....and well worthy of investigation !! .....@+ J

Au revoir!

Bonjour.

More oil than expected from the sidetrack.

How boring!

http://moneyam.uk-wire.com/cgi-bin/articles/200612140700508597N.html

Following completion of testing operations, a second appraisal well was drilled
on the Okoro Field. The well was drilled as a deviated sidetrack from the
Okoro-3 wellbore and was designed to further evaluate both reservoirs and
provide greater control for planning future horizontal production wells. The
Okoro-3 side track was drilled at a maximum inclination of 55 degrees to the
west of Okoro-3 and reached a total depth of 6,870ft. A full suite of pressure
and log data was acquired and, as planned, the well was not tested. A total of
70ft (True Vertical Depth) of net oil pay was encountered, which was greater
than expected at this location. Evaluation of the well results are on-going and
preparation and submission of a Field Development Plan for the Okoro and Setu
Field development to the Government of Nigeria is scheduled for January 2007...............................

......................A nine month development drilling programme on both the Okoro and Setu Fields is
scheduled to commence in Q3 2007 using the Global Santa Fe Adriatic VI drilling
unit and the Company remains on schedule to achieve first oil in early 2008..

Regardez vous.

UBS really did well with their selling off...........not!

Brilliant news !

Magnifique

Le Maily Dail

Tipped by Midas in todays Mail on Sunday.

"Afren

This is an oil and gas exploration company with a difference. It was founded by the former secretarygeneral and president of Opec, Dr Rilwanu Lukman, with the express intention of looking for oil and gas in Africa in partnership with local businesses.


This means the company is seen to be supporting African enterprise, rather than profiting from the country's natural resources at the locals' expense.

The management team is highly impressive - Lukman himself is widely respected and chief executive Brian O'Cathain is a true industry veteran. Afren has already had some success and 2007 should see further exciting developments. The shares are trading at 57p.

Tout fais bon!

"gmph1:- Are Exxon pulling out of the JDZ? (40% Block 1)

(Page 6)

http://www.menas.co.uk/pubsamples/NF1206.pdf

gpmh1 "

Afren PLC
08 January 2007

AFREN plc ('the Company')

Shareholding in the Company


The Company was notified on 5th January 2007 that, as at close of business on
4th January 2007, Lehman Brothers International (Europe) had an interest in
20,605,424 Ordinary Shares of 1p each in the Company. This represents 10.76% of
the total issued share capital of the Company.


8th January 2007


Enquiries:

Pelham Public Relations
James Henderson

I know production is expected in 2007, but does anyone have any idea when in 2007?

http://www.mbendi.co.za/facility/16/f062.htm

2008

thought it was somewhere in Q4 (or Q3).... and that was just for the start.... they were trying to ramp it all up so that they were in full production by early 2008....

so it's more like Q1 or Q2 2008 that i am waiting for..... for full production....

"The Field Development Plan is on schedule to be submitted to the Government of Nigeria in January to commence a fast-track development programme in Q3 2007. Afren and our co-venturers AMNI remain on track for production of 15-20,000 bopd by early 2008"

http://www.afren.com/press.asp

From oilbarrel.com:

Thursday 22nd February 2007, 9.00am to 1.00pm
followed by buffet luncheon

Venue: The Brewery, Chiswell Street, London, EC1

In association with BDO Stoy Hayward

The companies presenting are:

Afren Plc

Geopark Holdings Ltd

Gulfsands Petroleum Plc

Heritage Oil Corp

PetroLatina Energy Plc

Salinas Energy Ltd

http://www.oilbarrel.com/home.html

.

Good post aldwickk
Jack brent posted it on advfn but later removed it .

Yes agreed, good post.

I wonder why jb did that?

I dont go over there a lot.

Copyright, i may do the same.

Feel free to pull it now, I am sure a link will show up.

.

Chevron lifts lid on Obo discovery

By Upstream staff


Chevron has finally acknowledged that last May's wildcat Obo 1 in the Joint Development Zone between Nigeria and Sao Tome & Principe was an oil discovery.

However, country manager Tim Parson, speaking at the weekend in Sao Tome, said the quantity of oil did not justify commercial production.

He said further exploration is planned 'very soon' to prove up the potential of Block 1, in which the US supermajor has a 51% operating stake alongside ExxonMobil (40%) and Norwegian-Nigerian tie-up Dangote-Energy Equity Resources (9%).

Last year, the partners revealed that the probe, drilled by Tansocean drillship Deepwater Discovery in a water depth of 1720 metres, hit 150 feet of hydrocarbons amid industry speculation that the well was deliberatley sunk off-structure to determine the aerial extent of the targeted play.

Indications that a world-class discovery had been found were initially backed by public statements issued by Nigerian Energy Minister Edmund Daukoru, but neither government officials nor company executives have subsequently said anything about the tight-holed probe.

The consortium paid a total of $123 million for the block, believed to be one of the most prospective in the JDZ, which is managed by the Abuja-based Joint Development Authority, set up by the governments of Nigeria and Sao Tome.