< "> 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

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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! :-)

So why hasn't the AFR sp tanked every time a ship is highjacked? Still not convinced!
(and without wishing to be rude to the owners of the MT Halifax, that's not exactly a big ship compared to the usual supertankers plying the high seas off Africa).

Share price now recovering , bought a few @77 this morning

Q3 results due on 15th Nov. Perhaps they are not going to be as good as expected / hoped for.

78p myself,i see a few profit takers already at 80p?

Harry rumour has it they will be pumping 35kbopd to the IMS from E-Bok? Just 2 weeks to go.

I note the Greek connection!

Looks like the BBC were too lazy to find a photo of the MT Halifax. Most of the Ship Register web sites have to be paid for, but the Halifax has a deadweight of just under 30,000t, which is the max amount of cargo she can carry.

7.33 bbls to the ton = approx 210,000 bbls x $100 = $22.1m in lost revenue for someone, probably the insurers and no effect on AFR income would be my guess.

Edit: $22m

Details.

Then are we surmising that certain details of the Q3 results have leaked and are not up to expectations? (as per last interims which showed production problems at Ebok & a 25% reduction in revenue).

Decided to add..going long but not sure....less than 80p now.....this would seem ridiculous 6 months ago....

Same here rf i have finally bought some more ,i'm in for the long term so fluctuations wont bother me too much ,2012 should be a good year .

amusing that "shares" magazine have made AFR a "star buy" in todays issue.

Its all about ti ming :-)

Good volume today.

Why amusing Halifax, perhaps Afr are hugely undervalued at sub 100p?

pth possibly but as skin says timing is everything.

Afren retreats despite hopes for Kurdistan oil



Rachel Cooper, 19:38, Friday 4 November 2011

Although analysts were talking up the potential for oil explorers in Kurdistan, Afren succumbed to the market sell-off.

Back in July, the FTSE 250 oil explorer, said it had agreed to buy stakes in two Kurdistan operations for $588m (368m), extending its reach beyond Africa into the Middle East.

Years of wrangling between Baghdad and the Kurdistan Regional Government had dented oil explorers confidence in the area. But sentiment lifted in May when producers in Kurdistan began to receive payments for oil exports, which restarted in February.

Analysts at Citigroup (NYSE: C - news) were exploring whether Kurdistan could be a land of opportunity, pointing out that according to the US Geological Society, the area could hold more than 50bn barrels of oil and gas, which is comparable to the current reserves of Libya.

Despite significant political uncertainties, we expect exploration and appraisal drilling to accelerate into 2012, said the broker. Afren plans up to three wells over the next 12 months in Kurdistan, added analysts, who see significant potential from the drilling programme.

Nonetheless, Afren retreated 5.15 to 81.9p and its slide was reflected by the wider market, which endured another erratic days trading.

what a great buy in price today! gla

By Sarah Young

LONDON (Reuters) - Afren's acquisition of a stake in a Nigerian oil field known as OML 26, announced last year, is on track to complete by the end of 2011, the Africa-focused oil firm's chief executive said.

"We've received ministerial consent, we've received our waiver of pre-emption rights and we're in the final stages of closing this," Chief Executive Osman Shahenshah told Reuters in an interview on Friday.

Shares in Afren traded down 6 percent to 81.75 pence at 1150 GMT, paring earlier losses of as much as 14 percent.

Analysts attributed the losses to a media report which suggested that Afren's stake in the oil block had been allocated to other parties.

"We're fully on track to close by the end of the year. Nothing's changed," Shahenshah said.

Afren is buying the stake through First Hydrocarbon Nigeria, an indigenous Nigerian company it set up to buy fields sold off by majors, and said in October 2010 it would spend $187.5 million buying the OML 26 stake from Shell, Total and Eni.

Shahenshah also said that he was confident Afren would meet its target of exiting the year with total group production of around 50,000 barrels of oil equivalent per day (boepd) after ramping up production from its Ebok field, also in Nigeria.

"Ebok's going well. Earlier in the year we had some delays but it's all going very well now," he said.

Afren said in July it expected full-year production to average between 25,000 and 30,000 boepd, down from the 40,000 boepd it forecast in May.