< "> 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

interesting day ahead monday me thinks

There has been speculation that the US oil company Chevron might also soon announce a deal to move into Kurdistan, while merger and acquisition fever has lifted the share price of smaller London-listed companies such as Afren and Heritage Oil with exposure to Kurdish oil

(Reuters) - Nigeria's state-oil company NNPC said on Sunday that two local firms had completed the purchase of 45 percent stakes in two onshore oil blocks, previously owned by Shell (RDSa.L), Total TOTFA.PA and Eni (ENI.MI).

First Hydrocarbon Nigeria, owned by Afren (AFRE.L), bought a 45 pct stake in OML 26, NNPC said in a statement. A consortium led by local firm Nestoil is buying the 45 pct stake in OML 42, the state-run firm said.

http://www.advfn.com/p.php?pid=nmona&article=49922612

Interim Management Statement.

Highlights

. Group net production currently circa 28,000boepd;expecting circa 50,000 boepd 2011 exit rate

. Strong financial position - US$223 million cash at bank; net debt US$519 million (gearing 45%)
.
Acquisition of OML 26 (Nigeria) - following government and other customary approvals, formal completion expected shortly

. Ebok (Nigeria) - Phase 1 production currently at 15,800 bopd, steadily being increased towards upper end of targeted 17,000 bopd; four out of five wells available for production at Ebok Phase 2, with well test rates of 5,000 bopd, supporting developed capacity of 20,000 bopd; three additional D1 producers expected onstream by end 2011

. Okoro (Nigeria) - production stable at 18,000 bopd following debottlenecking work

. Barda Rash (Kurdistan) - Field Development Plan submission expected end 2011; phased development with production start-up mid 2012. Initial phases to target 506 mmbbls recoverable light oil.

Excellent update.

I've added the days update to the header,roughly what was expected.Sold out this am as i feel like GKP this will drift short term,will look for an re-entry point sub 80p?

Bank of America Merrill Lynch report

Afren's IMS provides a reassuring update on development progress at the Ebok (Nigeria)
field, as well as confirmation of the expected completion of the OML 26 deal via FHN nearterm.
In addition, their analyst trip to Nigeria brought a welcome detailed operations update
that highlights the substantial upside the country still offers to Afren. Afren boasts over
130mmboe of extra recoverable resources across Okoro East, Ebok North Fault Block and
Okwok alone. We believe that this update should address a number of market concerns,
enabling Afren to close its valuation gap. BUY; PO/NAV of 224p

Hmm looks like i may have exited a little early,still a 15% profit is not to be sneezed at
in this dreadful market.

Very promising update.

Stop trading cyril ,buy and hold :-)

Going seriously long on this.....way...way...undervalued !.

Oil at $101.

Crude chart.

Skinny, at the top of this thread is a oil price and commodity chart.

$102 for WTI......should send the producers higher and even explorers might follow with this rocketing increase now !....Afren with this latest update should be above 140p in my reckoning, and we haven't even hit the pound level yet.....can't understand why the dollar is rising, but the UK isn't exactly booming so that probably helps...

Oops!

wrong thread proders...lol

Oriel Securities has upgraded AFR from hold to buy.

http://www.stockmarketwire.com/article/4259499/FLASH-Oriel-Securities-upgrades-Afren-from-hold-to-buy.html

from spikeyDT on another thread
Genel to start trading Monday
Fri 18 Nov 2011
http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=5147296

LONDON (SHARECAST) - Oil and gas explorer Genel will start trading on Monday after Vallares, the firm it was recently merged with, issued its Genel prospectus on Friday, three days sooner than expected.

In September, Vallares, which is led by ex-BP frontman Tony Hayward, who resigned from the firm in 2010 after the Gulf of Mexico disaster, announced the reverse takeover of private Turkish group Genel Enerji.

The new company will be renamed Genel Energy.

Genel's main asset is the Taq Taq oil field in Kurdistan, Northern Iraq, which is currently producing 90,000 barrels of oil per day (bppd).

RBS sees the merger as a net positive for the UK exploration and production (E&P) companies already present in Kurdistan. In particular, the broker sees the acquisition having a positive impact on FTSE 250 oil and gas group Afren, saying that the stock remains one of its top sector picks.

Speaking about the takeover, Hayward said back in September: The Kurdistan Region of Iraq is undoubtedly one of the last great oil and gas frontiers. Arguably, it is the last big onshore 'easy' oil province available for exploration by private companies anywhere in the world.

The company is expected to be among the top three independent UK listed E&P companies by 2P reserves, with an estimated unrisked resource base of 1.4 billion boe, including proved and probable reserves of 356 million barrels.

Current production of 41,000 barrels a day is predicted to be ramped up to 90,000 by 2013.