< "> 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

Yes, I read that and wondered whether it might be time to look at this again: "... Afren is expected to deliver upbeat results this week. Analysts at Royal Bank of Scotland are quoting a price target of 250p, 50% higher than Afren closing price on Friday."

Sunday Times article.



Afren
Africa is rich in resources but digging them up can be fraught with difficulty. Last year, seven employees of Afren, one of the emerging forces in oil production on the continent, were kidnapped from an offshore rig in Nigeria.

There has been much less risk for the shareholders who have followed the companys ascent from AIM to the higher reaches of the FTSE 250.

The company scoops up assets cast aside by oil giants such as Royal Dutch Shell and Exxon Mobil. Production from its Ebok field in Nigeria is expected to begin by June, generating a lot of cash for Osman Shahenshah, the chief executive, to reinvest in more acquisitions.

It has just announced a move into Tanzania. Exploration in east Africa has been limited so there is a real opportunity there.

The company will demonstrate alongside its results this week that it is pressing ahead in other areas, farming out part of its Ghana field and recruiting a seasoned exploration director.

Royal Bank of Scotland began coverage this month with a 250p price target, more than 50% higher than Afrens closing price on Friday.

what are you dong on line mistress? .... get back to the washing-up!

Washing-up all done :) More wine about to be consumed by the fireside. And you? - No doubt sipping something special from that cellar of yours!

1996 pommard with some new season's lamb + pommes risollees + buttery spring cabbage with caraway seeds ..... think you could have managed that + afters?

I reckon so - should have invited me down to help polish it off.

Afters????... C'mon, keep it clean! ;o)

Hem hem!

who asked you to join the party?

TG - polished off with the soapy water (+ washing up!)

Note it wasn't me who commented on that ;)

.. I meant commented on the afters... Off to said fireplace: cheers chaps!

StockMarketWire.com
Afren has appointed Dr Niall McCormack as exploration director and Ravi Sharma as production and development director.

McCormack who assumes responsibility for the firm's exploration strategy and work programme held various senior positions within Hess Corporation, most recently managing exploration, exploitation and appraisal for Africa.

Sharma has over 20 years' international experience in reservoir engineering, management and subsurface development and has held senior positions at BHP Billiton, Occidental, BP and Baker Hughes.

Afren also announced the appointments of Ricardo Ramirez as corporate geosciences manager; Ron Parenti as corporate drilling manager, Kelechi Ojukwu as asset manager for OML 26 and Shahin El-Sharif as engineering and planning manager.

Great - sounds like they're putting a good team together.

.

deleted to save mistress T's blushes!!

Looking forward to tomorrows results,although if true a little disappointed with the E-Bok delayed production of another 3 months?

http://www.bloomberg.com/video/68093986/

http://www.investegate.co.uk/Article.aspx?id=201103290700157844D

I've added both reports to the header.

Very good results !.....and big exploration upside, .....sp could climb all the way to 2.5 at a guess, during this year.

March 29 (Bloomberg) -- Afren Plc, a U.K. oil and gas
explorer focused on Africa, has a very rich acquisition
pipeline after exceeding a target for bond sales, Chief
Executive Officer Osman Shahenshah said.
The company raised $500 million in a bond sale last month,
beating a goal of $450 million, following very strong demand
from investors, he said.
Its helpful to have additional funding, Shahenshah
said in phone interview today. There are many, many
opportunities in Nigeria and elsewhere.
Afren expects to triple revenue this year to more than $1
billion, Shahenshah said, as the startup of Nigerias Ebok field
boosts overall production. The company posted a maiden full-year
profit of $45.9 million in 2010, according to a statement,
sending its shares to the highest in almost three years.
Shahenshah declined to say whether Afren is bidding for
fields owned by Royal Dutch Shell Plc in Nigeria. We see many
opportunities that are quite interesting, he said.
Shell, Europes largest oil producer, agreed last year to
sell four fields out of a total of 34 blocks it holds in
Nigeria. The sale attracted bids from companies including Essar
Group, Seven Energy Ltd. and Afren, according to two people with
knowledge of the matter at the time.
Afren plans to almost triple production this year to about
40,000 barrels of oil a day after the Ebok startup. It plans to
drill high impact exploration wells in Ghana, Nigeria, Kenya
and Tanzania this year.

Keta Sale

Afren agreed to sell 35 percent of its Keta Block in Ghana
to Eni SpA of Italy. The partners, including Mitsui & Co and
Ghana National Petroleum Corp., plan to drill the first well at
Keta in the third quarter, at an estimated cost of as much as
$80 million, Shahenshah said.
Last week, it said it acquired a 74 percent interest in the
Tanga block onshore and offshore Tanzania from Petrodel
Resources Ltd. In January, Afren said it was targeting about 900
million barrels of oil and gas resources from Kenya, Madagascar,
Seychelles and Ethiopia.
East Africa is highly prospective and its very
undrilled, the CEO said. We are one of the pioneers and some
other larger companies are entering the area.
Afren plans to invest $450 million this year in
exploration, appraisal and development, up from $437.1 million
last year.
The Ebok field in Nigeria is currently producing at a rate
of about 17,500 barrels of oil a day from four wells and daily
output will rise to 35,000 barrels by the end of the second
quarter, he said. Afren rose as much as 5.5 percent in London trading to 173
pence, the highest since June 2008.

For Related News and Information:
Most Read African Stories: MNI AFRICA
On Mozambiques Oil Industry: TNI MOZAMBIQUE OIL
On Energy in Tanzania: TNI TANZANIA NRG