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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/
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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 sure and depends on your entry point, but graph is making me nervous particularly as the market in general seems to be getting soggy.

I don't know why the chart is making you nervous the SP is making higher highs and at the very least finding support at 145p in a consolidation pattern, one could also argue the SP is making higher lows, what more could you want from a chart? I don't see the market as 'soggy' but in a consolidation period.

Lower highs and lower lows. Unless my interpretation is inaccurate? (certainly in downtrend since beginning of april).
Also, it depends on whether you would prefer to hold and ride out the lows or actively trade them. It just seems frustrating and unnecessary to let profit slide when I am able to watch a screen during most week days. Of course, my buy price was only 130p, so I did not get in right at the bottom (I wish) so I would prefer to realise some kind of profit rather than sit there and wish I had when the sp drifts back and back.
Support at approx 145p, I agree with!

HC
i think you may well have got in at a recent major bottom at 130sh.
why trade it away? why not just sit tight? especially with a major support level having now been established up at 145sh giving a good buffer for a stop loss level. its almost a guaranteed long term profit, LoL does such a thing exist? depending on your strategy of course.
it may "dump" tomorrow, thats the risk in these small oilies, but what if?
when and IF price moves up through 170sh can you be sure you will still be holding?
we are all different and have different investment needs and criteria.
just my opinion as always. and good luck to you.
reghards
jkd

If you want to trade a six week time frame on which to base your decisions, good luck, my comment referred to at least a 12 month chart.

didnt the telegraph tip this as a buy yesterday?

I wouldn't wanna be out of these!!

you beat me to it bb!! me neither!! you know it makes sense!

i was expecting this to end the day blue - but a so so day here is ok also!!

Published: May 23, 2011
Offshore staff

LONDON -- Production from the Ebok field offshore southeast Nigeria has exceeded expectations, according to operator Afren.

Currently five wells are onstream, delivering a sustained flow rate of more than 17,000 b/d of oil.

Operations started in February following installation of production processing and storage facilities. The development involves two unmanned wellhead platforms one in the central fault block area and one at the west fault block tied back to a mobile offshore production unit (MOPU).

From the MOPU, processed crude oil is transported to a spread-moored FSO for storage prior to sale into the international market. Production from Phase 1 focuses on the central fault block area.

The jackup GSF High Island VII is working on Phase 2 development drilling, targeting the west fault block area. Four pilot wells were drilled in 2010, and Afren has since installed the conductor casing for the first five production wells from this location. Phase 2 should come onstream at 20,000 b/d of oil.

Phases 1 and 2 should access roughly 60% of Eboks 2P reserves base of 106.2 MMbbl. To exploit the remaining 2P reserves and to build production toward the MOPU capacity of 50,000 b/d, Afren partner Oriental Oriental Energy Resources plans to continue development through end-2012, using the 12 available well slots to drill additional horizontal producers into as yet un-produced reservoirs.

The Ebok development also should serve as a hub for the wider Ebok/Okwok/OML115 area, allowing for rapid monetization of any future development prospects.

Okwok holds estimated recoverable resources of 51.8 MMbbls. Conceptual development studies are in progress, but a stand-alone solution looks likely. Afren plans to drill an additional appraisal well at the field in 2011 to test further upside potential, and to acquire new 3D seismic over the area.

In the second half of this year, the partners also expect to drill an exploration well targeting the 35-MMbl Ebok North prospect, an untested fault block in the northern area of the field.

Another exploration well on OML 115 will target the 60 MMbbl Ufon prospect. Ufon is interpreted to have oil prospectivity in the same D series reservoirs proven to be oil- bearing at both Ebok and Okwok.

At Okoro, another Afren-operated field off Nigeria, a two-well infill drilling program has been completed, and the Okoro-11 and Okoro-12 wells are now onstream. As a result, overall production from the field has increased to 21,000 b/d.

Think that deserves a.......YYYEEEHHHHAAAAAAAAAAAAAAA!!

Citigroup: Buy TP: Raised to 209 from 205

Would just like to see some more upward direction than it is at the mo.,.

looking ok for possible break up thro 170sh.
dont forget however or get too excited too soon. there is still a major long term resistance top up there at 185sh that still needs to be taken out before it can move up further.
just bringing it to you alls attention.
regards and good luck to everyone.
jkd

Last few days was moving higher, but not today though the trend is up

A big bounce off the 200 DMA would relieve the anxiety a bit!
Target price on Selftrade is now 195p, reduced from Strong buy to Overweight.

HC
it sure would. i bought some today based on 145sh being good chart support level.
oh! and also to try to justify my last post to you. sorry about that but hopefully you did
also have your own subsequent stategy in play.
i dont normally like to buy on a friday but am just following my own advice regarding support.paid 147sh
lets see what happens.
regards
jkd

Sold out in may at 158p. Just bought back in at 146p.
These boards are a good source of ideas and banter, but I am not relying on them for strategy!

Stayed with it and held, should have taken profit at 180p but missed it. Ave, 96p so am happy to hold.

HC
well done. i have changed my mind and just sold out at very small loss.
as i said i dont normally like to buy on a friday.
in the mean time good luck and
regards
jkd

Are you day trading jkd?