Amities . l have been discreetly buying this stock since it was 39p . And the more i learn the bolder are the positions i take . .....Floated in Dec 2004 it was oversubscribed and before costs the required $15 million was raised. At the helm is ex BP head of Global exploration and Resavoir management . Furthermore a success story at Global Expo . Now Nick Johnstone wants to set up on his own . And after speaking to him l am not at all surprised . He is like a "Who s Who " of the hydrocarbon world ...He has ALL the prerequisites for success so why work for some other lackey ! .. namely connections from his ertwhistle employers . He has assembled a first class management team from ex colleauges at BP ; and is his business model is simple . AFR farms in on "Big Oils " inception upstream ; and with its scale of economy it works closely with "Big oils" fields on the look out for excellent workovers oppertunities .... Already lt has via a complicated j/v a percentage of the Sao Tome and Principe acreage -Located between the oil rich waters of Nigeria and those of Sao Tome and operated by Texaco / Chevron and Esso; and believed by many to be the new North sea . . 3D Seismic testing and magnetic graphic imagery and satellite imaging has located a labyrinth of channels leading to a main resavoir which is believed to14-15 mmbbls of oil and which would leave AFR with its share of 120/140 million barrels for NO cash outlay .To ensure early cash generation Afren has entered into a production sharing agreement in the developed Ogedeh field { adjacent to the BP operated Olowi marin field which is believed to yield 180 mmbbloe. Furthernore AFR has agreed to drill the lbekelia project for Ascent resources which is expected to produce 2,500 b/pdoe to satisfy AFR percentile share ,ln addition it is a believed resouce of several years . .. , .Not a bad start for a company with little more than six months in the making . ....and well worthy of investigation !! .....@+ J

,,,but i hold in a plethora of juniour oiles and miners ...... l only go long/ short on that genre.BP ( for the huge return to holders ) EEL ,CDL, AFR , JKX ,Bur and VOG and CEY, GFM , KMR , SER ,Zox , CSM , HIF, and afew others ,,,,,,,,,,,,but trade mostly via CFDs and that is why most of my postings are are on the traders thread But in those i mentioned i may alter weightings but i never churn the portfolio .......Calcs cant be right ; and simply because they dont sound right .......... i put a value of a MININUM true worth of in excess of 200p on AFR as an entity in its own right . ,,,, a/ b ...J ,,,

The Directors & Management are second to none. If you put the best oil men together in the one of the most prolific oil basins in the world you then have one of the best investments you will ever have.

You mention 200p above.....you are exactly right 'MINIMUM'....The market cap for Afren over the next couple of years in my view will be in Billions & not Millions.

gpmh1

Afren PLC
29 March 2006

29th March 2006



Afren plc

('Afren' or 'the Company')





Nigerian Rig Contract and Appointment of Drilling Manager



Afren (AIM: AFR), an independent oil and gas company focused on establishing
itself as the leading pan-African exploration and production company, is pleased
to announce that its Nigerian subsidiary Afren Energy Resources ('AER') has
signed a drilling contract to contract the Seadrill-7 Jack-up drilling unit for
two wells offshore Nigeria in 2006. The Company also announces the appointment
of a new Drilling Manager.



Nigerian Rig Contract



Afren announces that AER has signed a drilling contract for two wells offshore
Nigeria, with Ashbourne Marine Company Ltd, a subsidiary of Seadrill Ltd. The
first well is expected to begin operations early in the third quarter of 2006.
The Seadrill-7 is currently on location in Nigeria for another operator.



Afren intends to use the Seadrill-7 rig to further appraise its proven
undeveloped fields in Oil Mining License 90 ('OML 90'). The undeveloped fields
in OML 90 secured by Afren in the second half of 2005 are located in the shallow
waters of the western Niger Delta. Oil and gas was discovered in a number of
zones by Chevron in 1993, but were not tested. The fields are conventional
Niger delta structures, at moderate depths and are likely to be low cost
developments as they are close to existing infrastructure. The first well in
OML 90 will appraise one of the existing discoveries and will be tested to
confirm fluid type and reservoir performance.



Securing the drilling contracts marks an important step in the execution of
Afren's strategy towards achieving near term development and production.



Appointment of Drilling Manager



Afren is also delighted to announce the appointment of Mr. Graham Ross as
Drilling Manager for Afren. Mr Ross is a highly experienced drilling manager,
and has worked in the oil and gas industry for over 26 years.



Prior to his appointment with Afren, Mr Ross served as Drilling Manager for
Premier Oil, where he was responsible for drilling operations in Guinea Bissau
and Gabon, as well as the UK North Sea. Before that, he served as Group Drilling
Manager for Enterprise Oil, where he was responsible for drilling exploration
and development wells in Europe, Asia, South America and the Middle East.



Brian O'Cathain, Chief Executive of Afren commented:



'We are pleased to have secured a drilling rig in the current difficult
contracting environment. These two wells will help us add value by proving up
reserves and further delineating the proven undeveloped fields of OML 90. These
are the first steps towards early production in 2007. The Company also continues
to pursue other opportunities in the region and will be able to provide an
update in due course.



We are also delighted to have appointed a Drilling Manager of the calibre of
Graham Ross. His significant operating experience will be invaluable to Afren as
we progress to operate a number of developments in the coming year.'

Amities ,,,,Chaco resources ,,lol Nothing more than a bunch of severe no marks who decided to form a company for hydrocarbons simply on the massive hike in the global oil price; ..lts a stinker ....Management are green between the ears . They are NOT oilers !!!! ,,Look at their backgrounds !!!! ln my opinion juste another market makers dream . The whole project is not worth a carrot. They have insufficient funds , and insufficient clout ,and looking at the rotary count they will be lucky to even FIND a rig to haul into the madness that is Columbia and Paraguay ,The one institution who had supported them dumped 5 million shares recently ,,,Does that not tell you something ?? Well doesnt it !!!??? , ,,,,By contrast we have AFR whose management are ex hardball players from BP and Shell and have at their disposal data and information that the likes of Chaco could but dream. They are involved in a j/v with Chevron and also drilling in thier own right . And dream they will ,,,,,But like all dreams they come to an end . Sometimes quite suddenly ,,,,,,,,,,, .....The football analogy is quite appropriate .- When you buy the best you WIN !!! ,,,,Roly i hope you humoured me and got in @ 58p ,,,This is massive . Talk all over the city of this constituting of the biggest find made by Chevron who are operators in the past 20 years !!!!!!!. .3-5 trillion scuffs of gas and 700 mmbo .....lf chaco be worth 200p ,,lol as some people imagine then AFR is 20 ........As for Chaco ..Yeah i was a right mug getting my holding out @ 18p wasnt i ? l ll give it a second look @ the 10 - 12p level ,,,,,,,Be lucky R ,,,,,,,,,,@+ J

A good day up 11%. I don't mind saying J i also bought in at @59p it's looking very good
thanks Keith

This is but the very START kk ,,,,,,,,,All mms buying today -Only one selling .

TFC, I'm clearly a late joiner at 75p but up 13% already, many thanks for this thread. Any views on TAG??

T F C ,

" J " I got in at 61 , holding a fairly large amount. Thanks.

UPSTREAM JDZ bonus payments due soon

By Upstream staff

THE Joint Development Authority managing the Gulf of Guinea joint development zone between Nigeria and Sao Tome has indicated that all signature bonuses payable for production-sharing licences signed last month will be due by 14 April and that drilling on blocks 2, 3 and 4 should start before the end of the year, writes Barry Morgan.

Also, indications of a "possible billion-barrel find" in its debut wildcat on Block 1 by operator Chevron were cautiously backed by Nigerian Minister of State for Petroleum Resources Edmund Daukoru in Abuja this week.

"Possibly more than 1 billion and more than originally thought Obo-1 is not a disappointment though I am waiting to hear the final result," he said.
-------------------------------------------------------------------------------
06 April 2006 23:01 GMT | last updated: 06 April 2006 23:01 GMT

A post Ive pinched from ihub, written more eloquently than I ever could, and summing up the current postion perfectly.
(With thanks to poster DADD :4/8/2006 8:45:55

After reading hours of posts on IHub, RB, and the Yahoo CVX board, it would seem that a new person reading those posts may think that the boards comprise of mostly pumpers. If those new readers only knew the circumstances surrounding this oil find in Block 1 of the JDZ, then they would know why there are so many posts talking about over 1 billion barrels. What we have is very simply this, a few News articles stating a '1 billlion barrel find', and then what Daukaro (sp?) stated about ' over a billion barrels ' . Also making its way on the boards may be some posters ' in the know ' that may have seen first-hand what some of the results are. Can these news articles, Daukaro statements, and the 'posters in the know' be trusted?

I took some time and thought this out. Daukaro's words should be trusted. He is the Nigerian oil minister along with being the head of OPEC. It does him no good to state things that would not be true. For one thing, OPEC does not need anymore bad news circling them, and by falsifying information to the media I believe would be reason for dismissal. I do not think he would risk losing his position for a false statement. Regarding the news articles, all have basically stated the information was from an unnamed official source. Unnamed stands to reason, but Official is the one that made me take a closer look. Official means one in authority, which tells me that a board member or higher-end management stated and gave the information, on condition of anonimity. And most news agencies (not all ) would not want to print a retraction at a later date because they made something up. In this case, I do not see how so many different news agencies would do this, so I also take this at their word.

This leaves me to the last part, the ' in the know ' posters on the message boards. We had some who stated awhile back that their was a billion barrels and more in many blocks. Even the previous seismic stated this. So as of right now, we know that ONE, there is a billion barrels and more in block 1. But yet some posters have stated that this field is bigger than the Ghanwar field, which since 1948 has yielded more than 55 billion barrels and still going strong. Others are stating that the current field in block 1 will be a top 5 or top 10 of all oil fields discovered. Can these posters be trusted?

I cannot state if the fields are as large as many have stated. 3000 ft long, 800 ft of depth would entail an extremely large field. But yet nothing official has been released. I do hope that the find is as big as one can imagine, as it would be better for all investors, especially since the find is said to be straddling one or more of ERHC's blocks. What I can state is that the block 1 find is more than likely

lf you accept the accepted theory of oil formation in that organic matter living in the oceans and sinking to the bottom and under anoxic/euxinic conditions decaying to form crude oil you are probably correct in your assumption that this "strike" is not as big as Ghawar in S/A nor the Karachaganak in Kazakstan nor the Penglai in China nor the Sihil or Tobasco fields in Mexico . ,,But generally the price of a license for E/A is based on the probability of finding copious amounts of sweet low sulphur/ tar free oil , or gas { for LNG } within that acreage . Well compare the cost of a License in the Russias , or even the prolific Kazach acreage; and that figure is dwarfed by the sums paid by the licencees for the Nigerian delta and Sao Tome sites. Basically all around the horn of Guinea . Shell has known of such deposits for a generation but lacking both fiscal incentive with the oil price in a trough and technilogical innovation for " deep" extraction not yet invented gave it a wide berth Yet now ...>> ...The Ocean is littered with USA warships and aircraft of all types protecting this merchandise . The oil industry has friends in the highest places . .This oil is earmarked for protection under the "Carter doctrine " which stipulates that any attack on energy supplies heading for the USA will be taken as an act of aggression justifying war.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,All im saying is that the "farming in" on a side wind j/v with Chevron is going to make AFR a formidable player among oil juniors generating sufficient cash to embark on one of the most aggresive drilling programmes for such a young company . Cant beat excellent management whose c/v s boast of 20 years with BP or Shell or Texaco . ....Word on da street call Chevrons strike ( as operator ) among the biggest they have seen in West Africa with nearer 2-2.5 bb scuffs of gas with an oil leg yet to be sidetracked ,,, This is going to be HUGE !!!! ...lt is a labyrinth of gas finds at one levele with oil deeper still with yet more gas at what is now called the the "Super Deep" ........Perhaps no Ghawar ; but its individual strikes certainly on a parity with the North sea at this stage . ...................Wagers taken on 1+ by mid may ......b/ chance a'bientot ...@+ J

,,,,,,,,,,,,Amities / Slt Silvermede . No . You have certainly not missed the boat on this one . l could list a catalogue of reasons why this stock will outperform within not only its own sector ; but will finish the year as a 350 midcap with a m/c equating to an s/p of perhaps as high as 300/350p ....Allowing it to catch up with companies wih whom AFR are on a parity with now as things stand ......l added today on the lull at 75.5 ....Top drawer stock ! Supported by all quaters with institutions owning a wacking 60% ,Management and private equity groups and hi worth individuals all well represented ; and you neeed only look at the past months trading and chart to see a massive hike was predicted @ 63p Bonne chance /Faires attention ....@+ J

" J ",

Whats your view on SER & COP now ?

" J "

Am thinking of taking some profit on EEL @ 400

Nothing wrong with taking profit Roly . Always accept what the market offers. Play the percentages ,,,,, To be honest i had been thinking of selling 10% of my holding - 50,000 - in order to free up some capital . ( for gaspom )Bought @ 187p so cant complain ...Am busily mopping up AFR in the low 70's. l see this moving at twice the speed JKX or one of the plethora of junior oil players did in 2004/5 .......Believe me -All is not as it seems . Afren are understating thier case Re: SER and COP ....Holding a shedful of SER ( who isnt ? @ 0.52) and am of the belief that once the massive overhang of stock is erradicated this stock is on a parity with others out there which boast s/ps of ten times . Could make nice money from a mininum of outlay . .....Still holding COP ......@+ J...

Cheers, " J "

Afren PLC
11 April 2006

AFREN plc ('the Company')

Shareholding in the Company


The Company was notified today that, as at close of business on 31 March 2006,
Lehman Brothers International (Europe) had an interest in 18,792,254 Ordinary
Shares of 1p each in the Company, representing 9.92% of the total issued share
capital of the Company.

Just found this interesting article on Afren.The site is free to register.

http://www.proactiveinvestors.com/registered/articles/article.asp?AFR

Afren Energy: Could have a small slice of a very big pie

Afren was formed in 2004 by a group of oil and gas professionals with significant experience in the African oil and gas sector to establish the company as a leading oil and gas group within Africa.

The Company is led by acting Chairman Guido Pas, executive director Bert Cooper, and executive director Egbert Imomoh, the former Deputy Managing Director of Shell Nigeria. The executive team is supported by non-executive directors including Dr. Rilwanu Lukman, the former Secretary General of OPEC..a pretty impressive line-up...

AFR PR dept hardly rushed out the RNS dated 31st March 2006 that Lehman Bros had increased their holding to almost 10% of the company. Coupled with the fact Fidelity rushed out on 23rd March and increased their holding to 14,7 million shares ,,,,The electronic age ?? , A snail would have been quicker passing that news ......On a different note,,,,,,,,,,A second aircraft American carrier accompanied by six protecting frigates turned up at Sao Tome to protect thier new found "oil rich" bedpartners{ from Nigerian aggression basically} So a deal was struck beteen the USA and Nigeria { uSA is dependant on Nigerians as Peacekeepers in West Africa via UN so the applecart cant be rocked too much . } ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Then came unsubstantiated reports in a financial journal ( held in great esteem by many in the city of a major gas/oil double play with a major gas/oil payload of 1 billion bpoe having been discovered by Texaco/Chevron ...{That actually was a leak from Exxon and not the Operator- Chevron } . ,,,,My connections tell me this is quite true .lts AT LEAST a billion dollar baby ,,,,,,well basically youd have to be a f%434% moron to sell @ the moment . l MMS are shaking the trees .From top to bottom . And "T" +10,20,or 30 players settling up ....l stake my reputation on it . @+ J..and quite honestly a pretty large stake . , , Adopt for a moment the position of the mms frantically awaiting the inevitable ........... Utterly disgusted at the market manipulation .

TFC (J) Holding firm and with you all the way! We'll get there in the end though as patience pays off eventually. :-)