< "> 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

You might be right CC. May be 85/80p is the support.

Fundies still the same, Poxy markets. 8-)

Somebody confident half mil buy just gone thro at 91p

Was that you blanche topping up your holding? ;o)

I wish.

Wee punt long SB @ 85.7

Not exactly setting the world on fire, stop to entry.

Presumably partly due to crude oil price dropping?

Buy and bloody hold ,dammed if you do and dammed if you don't .

Waiting for 65.0 before getting back in.

That's a fairly arbitrary figure? Assuming we are heading for double dip recession, the low could be just about anywhere down to c20p.

True Harry but I'm looking to buy for longer term. As always with shares that I actually own will be hedging with spreadbets long and short.

AFR seems to have lost it's sparkle. Not sure I would be comfortable buying at this level yet.

Further to the announcement of 27th July, Afren has completed the acquisition of interests in two contiguous Production Sharing Contracts ("PSCs") located in the Kurdistan region of Iraq, a 60 per cent. participating interest in the Barda Rash PSC and a non-operated 20 per cent. participating interest in the Ain Sifni PSC, for a total acquisition cost of US$588.25 million.

Afren has also executed a US$200 million secured term loan facility (the "Loan Facility") in connection with the Acquisition. The facility has a maturity of 18 months, with quarterly repayments commencing six months following the date of draw down. The Mandated Lead Arrangers of the facility are BNP Paribas and VTB Capital.

http://moneyam.uk-wire.com/cgi-bin/articles/201111020700081674R.html

Osman Shahenshah, Chief Executive of Afren, commented:

.... The acquisition covers the full E&P spectrum of development, appraisal and low risk exploration upside and is consistent with Afren's strategy of acquiring low cost barrels in areas of strategic advantage. The acquisition increases Afren's current 2P and 2C recoverable reserves base by over 700% at a cost of under US$1 per barrel. With our team already in place, we expect to generate an incremental 75,000 barrels of oil per day net to Afren within five years from the Barda Rash field alone."

Down 10%!!! What happened there?

I suspect - this!

Hmmm....not sure. That's a regular occurrence and is only one ship. Not a big deal in the grand scheme of things.

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Nigeria pirates hijack MT Halifax oil tanker

The United Nations has urged West African countries to step up anti-piracy patrols
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Pirates have seized an oil products tanker off southern Nigeria, security officials say.

Gunmen boarded the MT Halifax off Port Harcourt, the main city in the oil-rich Niger Delta, they said.

The owners of the vessel lost contact with the tanker on 30 October, according to the International Maritime Bureau (IMB).

The UN this week urged West African nations to increase naval patrols following a surge of pirate attacks.

The IMB says the crew of 25 are being held by the pirates, who are expected to steal the oil in the ship's hold.

In West Africa, crews are generally released unharmed after the crude oil is stolen from the ships, unlike in Somalia, where crews and their ships are held until ransoms are paid - often after several months.

The nationalities of those onboard are thought to be Filipino and Indian, with an Italian ship master.

Commodore Kabir Aliyu, a spokesman for Nigeria's navy, declined to comment.

Oil products tankers carry both crude and refined oil.

The pirates are thought to have sailed into the Gulf of Guinea, according to security officials.

The Halifax is owned by the Greek-based Ancora Investment Trust Inc and is flagged out of Malta.

West Africa has seen a growing number of oil tanker hijackings in recent months as pirates target oil shipments from Nigeria, one of the world's biggest producers.

On Monday, a top UN official, Taye-Brook Zerihoun, said that Somali pirates were inspiring copycat attacks in other parts of Africa.

The warning came as the UN Security Council called on West African nations to step up navy patrols and other measures to counter a new front in the piracy war.

It might be only one ship to you matey! :-)