< "> 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

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 !.

Thanks for your comments required field-185-posting--noted and I will watch to see if the shares ease back along the way prior to move to main market--will pass your comments on to my original source.

This is taking a real bashing at the moment and not really justified as a lot of their production is hedged at a lot higher price than it is in the market (hope I'm right on that last comment) !.

You are.

Good recovery...ooof ! thank god for that....had me worried that drop in sp value !.

hi guys--i so nearly bght some shares when they dipped below 40p and regret not having done so--see they have already bounced back above 40p level to @45p--hmm--i still think we are in for some more rocky rides in stock market before the summer is out so i am tempted to hold off buying any just yet!--any reason why I should rush in now after the bounce?!--guys?!
another share i was told to buy ahead of an annoucement before the end of this week was SLV--i was told yesterday when they were about 70-73p--my source having paid 69p earlier in afternoon--i see they are up by another 3p today to about 79/80p!--rumour has it they could be on receiving end of a take-over bid at not less than 1 a share-hmm--anyone here follow SLV at all?!

bf
may i suggest you go off and do your own research? its the only way.dont listen to others, especially on bbs, as most, although not all,have their own agenda as i suspect do you.could be wrong. anyway your on a good board here as my experience is that most, although not all, are genuine. are you? i suppose we shall all have to make our own minds up based upon your future posts. good luck.
regards
jkd

BF,

Take a look at CEY, all you need in these markets is one good oil share AFR and one good Gold share CEY.

1 milion buy not long gone through. Nice! @50.34

Presentation today should be interesting and underpin the start of our next leg up.

What presentation?

RNS Number : 7477U
Afren PLC
30 June 2009







Afren plc (AFR LN)

Capital Markets Day - Ebok Development

London, 30 June 2009 - Afren plc ('Afren' or the 'Company'), announces that the Company is this morning hosting a Capital Markets Day on the Ebok development.

Key highlights



Afren is partnered with Oriental Energy Resources (Oriental) on the development of the Ebok field in Nigerias prolific south-eastern producing area

The field benefits from Nigerias indigenous Marginal Field Fiscal Terms

The Ebok field was originally discovered by the ExxonMobil and Nigeria National Oil Corporation (NNPC) joint venture in 1968 (Ebok-1), which encountered four oil bearing sands and two subsequent appraisal wells were drilled in 1970 (Ebok-2 and Ebok-3)

Appraisal drilling by the Afren-Oriental partnership in Q4 2008 proved recoverable 2P reserves of 53 mmbo in the Fault Block 1 & 2 areas of the field (well in excess of pre-drill minimum economic field size of 20 mmbo)

Upside potential of an additional 99 mmbo has now been identified (includes an additional 45 mmbo in the Qua Iboe sands)

o Total un-risked resource potential of the field has increased to 152 mmbo

Field development planning is well underway

o Close to commitments on drilling rig / Floating Storage Offloading (FSO) vessel / Mobile Offshore Producing Unit (MOPU) / wellhead support structure

o EHSS / community relations prioritised

On target to deliver first oil in early 2010

Step change for Afren and a platform for future indigenous growth in Nigeria







A copy of the presentation is available at www.afren.com.






Background

The Ebok field (Afren 40% legal interest) is located 50km offshore South East Nigeria in 135ft of water. The field is adjacent to producing fields operated by the ExxonMobil / NNPC joint venture, where current gross output is in the region of 850,000 bopd. Ebok's productive reservoirs are contained within the Pliocene Agbada Formation, which are the main intervals from which the vast majority of Nigeria's oil and gas is produced.

Appraisal drilling

The Afren-Oriental operated Ebok-4 appraisal well confirmed a material 53 mmbo (2P) oil development. The well encountered a total gross oil column of 284ft in high quality reservoir sands ranging in depth from 2,560ft to 3,718ft. Of these gross pay intervals, 274ft is calculated as net oil pay.


Afren has identified a further 99 mmbo of recoverable upside potential at Ebok, 45 mmbo of which lies within the Qua Iboe sands. Consequently, Afren is today announcing that the unrisked potential of the field has since risen to 152 mmbo.

Field development planning and current project status

Afren has set out a clear timeline for the development of the Ebok field to delivering first oil in early 2010, and beyond. To date, significant progress has been made across multiple aspects of the field development planning.

Field development (Phase 1a and 1b) will commence with the drilling of six horizontal production wells and one water injection well, and is set to deliver first oil in early 2010 at an initial rate of 15,000 bopd, increasing to 35,000 bopd at end 2010. Two appraisal wells will also be drilled to prove the identified upside of the D2 Southern Lobe and West Fault Block locations.

With Phase 1 well planning defined, Afren is close to commitments on a drilling rig and requisite production facilities. A shortlist of drilling units has been compiled with seven rigs having been identified as fit for purpose, five of which are immediately available.

Several proposals have also been evaluated to date for FPSO's, MOPU's and FSO's. A development configuration deploying a MOPU and FSO is considered to be the most appropriate solution. EHSS regulatory compliance process is also well underway.

A second multi phased development targeting the upside to total potential field size of 152 mmbo, will be undertaken through to 2012.




Osman Shahenshah, Chief Executive, commented:

'Afren has made significant progress on the Ebok development, since reaching an agreement in March 2008 with our partner Oriental Energy Resources and the ExxonMobil / NNPC joint venture.

Following the recent appraisal success, where Afren proved up a 2P reserve base of 53 mmbo, our continued subsurface studies and interpretation work post-appraisal drilling has identified substantially greater upside than previously announced, most notably an additional 45 mmbo recoverable potential from the Qua Iboe sands. We now see upside of 99 mmbo, and therefore the potential to ultimately deliver a 152 mmbo field development, in what is one of Nigeria's most prolific oil producing areas.

We remain firmly on-track with our development planning for Ebok, to deliver first oil in early 2010. Having completed well planning work for the first drilling phase, we are close to commitments for a drilling rig and production facilities. Ebok reinforces the platform from which Afren and its partners can deliver similar indigenous growth opportunities in the region.'

-Ends-




Enquiries:





Afren plc


+44 20 7451 9700

Osman Shahenshah
Chief Executive



Galib Virani
Investor Relations










Pelham Public Relations


+44 20 7337 1500

James Henderson





Mark Antelme






Background information

Afren plc

Afren plc (www.afren.com) was founded in 2004 with the vision to become the premier pan-African independent exploration and production Company, through a differentiated strategy based on a strong African representation in the Board and management, partnering with indigenous companies, partnering with National Oil Companies and Governments as well as finding a solution to the vast untapped gas reserves in the Gulf of Guinea. Since the Company's listing on the AIM market in 2005, Afren has rapidly expanded its portfolio to 16 assets across 6 African countries with over 26,000 boepd net WI production and a material reserves base of 86 mmboe.



Note

In accordance with the AIM Rules, the technical information in this release has been reviewed and signed off by Mr Iain Wright, who is Director of Technical at Afren Plc and has over 25 years relevant experience within the sector. He consents to the information in the form and context in which it appears. The Company estimates its reserves in accordance with the guidelines and definitions of the Society of Petroleum Engineers / World Petroleum Congress ('SPE/WPC') reserves classification (March 1997) using accepted engineering principles.











This information is provided by RNS
The company news service from the London Stock Exchange

END


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