< "> 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

The dollar is starting to drop quite a bit ...used to be $1.40 to the pound now $1.52 and dropping, if this trend continues this will fuel the price of oil (nice pun that !)....the tankers outside Rotterdam waiting to unload might be for customers that have bought at a very low price...when that is used up it will be more expensive.

Oil well through $60 now afren on the brink of a breakout at 50p remember not long a go 14p. Come on peeps buy in! 2.00 here we come.

f'ing rampresses!

Nothing wrong with ramping a gr8t company!!!!!

Powered by IST's

good breakout with high volume = >12 million vs 7.5m norm

At $68 PB. every $1 rise adds $24k to our daily earnings and the rise of late means thats alot of extra dosh.

BUY - BUY - BUY - BUY - BUY As per my previous post on the 12th May the chart has come up with the goods.

Oil trading at over $68 pb. every cent = $240. Manic start to yesterday long may it continue.

Wednesday's star recommendation on UK-AnaIyst.com comes from James Faulkner of WatsHot.comWednesday, 3 June, 2009 1:08 PM

Buy Afren (AFR) at 52.25p

The Company:

Afren was founded in 2004 with the aim of becoming the premier independent pan-African oil exploration and production company.

Since its IPO on AIM in 2005 it has built up a portfolio of interests in six countries Nigeria, Soa Tome & Principe JDZ, Gabon, Congo, the Ivory Coast and Ghana and is currently producing at a rate of around 27,000 barrels of oil per day, mainly from its Nigerian interests.

The company leverages the insight and local clout of its management team to ensure it has the upper hand in its chosen regions through close relationships with governments and through partnerships with indigenous corporations. This provides a low-risk operating model in what is usually considered to be a relatively high risk area. Headed by CEO and industry veteran Osman Shahenshah, the management team is top-notch for an E&P company of this size.

Production:

Afrens main production assets include Okoro-Setu and Ebok in Nigeria along with its interests in the Ivory Coast which it bought from Devon Energy in 2008. We shall deal with Okoro-Setu first as this provides the backbone of current production.

Located 12 kilometres offshore Nigeria, Okoro-Setu (Afren: 50% working interest) reached the first oil milestone in June 2008 two years from announcing the financing and production sharing agreement with its partner Amni in 2006. STOIIP (stock tank oil initially in place) estimates for Okoro-Setu range from 80-130 million barrels. All 7 wells have now been brought onstream and are currently producing 22,000 barrels of oil per day (bopd).

Afren bagged Devon Energys Ivory Coast interests back in March 2008 for $205 million funded through a financing package with BNP Paribas. They consist of a 47.96% working interest and operatorship of the producing Block CI-11, a direct 65% interest and operatorship with rights over an additional 15% interest in the undeveloped Block CI-01 and a 100% interest in the onshore Lion Gas Plant. These assets provided Afren with an immediate 3,000 boepd (barrels of oil equivalent per day) production uplift and boosted 2P (proven and probable) reserves by 28 million boe. There is also significant potential to upgrade both reserves and production, and Afren is targeting total net daily production volumes of 6,000 boepd from the projects by 2010.

But the real biggy has to be Ebok. Afren announced a farm-in agreement with Oriental Energy Resources for the development of the Ebok field, located off-shore South East Nigeria, in April 2008. In March this year the firm announced a successful outcome of its Ebok field appraisal which resulted in the pre-drill expectations of 23 million boe of 2P reserves being doubled to 41 million boe. Additional contingent reserves and prospective resources could see this figure doubled again if the Ebok West and North fault blocks are successfully appraised. The company has plans to fast track well development with a production system that will deliver up to 25,000 bopd in early 2010, with a full field development achieving up to 50,000 bopd by end 2010.

Exploration:

The La Noumbi prospect (Afren: 14%) in the Congo is highly prospective given its proximity to the world-class MBoundi field. Exploration drilling is planned for the first half of 2009 and mean estimates for prospective resources stand at 440 million boe. Afren also has small interests in the Iris Marin and Ibekelia prospects in Gabon and the JDZ (Joint Development Zone) off Soa Tome and Principe, which could host a billion barrel resource.

Good buying opportunity at the moment it should bounce of the BBI

In time this should go above the pound level once again.....shame about the pullback but it'll come back again.

Ready to resume its climb?, Well on the back of the rising oil price and a positive and enlightening meeting next Thursday i think so.

Please post on here, cheers !.

SP. remains stubbon to move, hope thursdays makes a positive impact. Oil near to $70. Come on AFR.

i see they have recently announced their intention to apply for a main market listing.
regards
jkd

sorry if above is old news. i thought you might all be interested in confirmation to the speculation of 4/4/09
it was only announced in a rns at 2 50pm today. maybe you all already knew.or maybe you knew/ know something that i am missing? if so please do share.
as for timing i'm a bit confused noc how come your post 4/4/09 contains material dated 15/04/09/?i'm sure there is a very simple explanation. sorry if i seem a bit dim.
good luck to you all
regards
jkd

this is a bottom formation,until it changes its mind and fails, which will probably be price below 39sh. just my opinion.
regards
jkd

hello there guys--I am interested in investing about 10,000 in this company by way of shares to be purchased at some stage--a friend of mine recommended them to me a few days ago as an excellent recovery stock--certainly they would appear to be not far off their all time lows in recent months but I need to be convinced by somebody who knows this company well and would welcome any sound opinions/advice on whether I should consider buying the shares now or wait until they fall back for whatever reason!--welcome any comments--thanks in advance guys!

Wait until you can put these in an Isa or "bed and Isa" when these move to the main market....there might be share price "pullbacks" along the way but these should head for close to 100p valuation once the production from the Ebok field gets underway !, so a good stock to hold for a couple of years anyway !.