< "> 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

must admit i've reduced what i held over the last few weeks.,.

It's the time to buy not sell....

RF - he means his penis enhancement was a failure and had to be removed ..... apprently it impressed the donkeys on WsM beach but no one else

I hadn't thought of it that way.....

It only suffered after seeing you cyners.,.

it shouldn't have made you cry - really not

you shouldn't be so tight.,. specially the pub we went to.,.

you're right, it was truly awful

Investec note :
"FY11 results were in line with our forecast and we leave our TP and rec unchanged – with 28% upside even post the 53% rise in the shares YTD. 2P reserves up 132% to 185 mmboe and the group is firmly on track for 2012 production of 42,000 – 46,000 boepd. Currently participating in high impact wells offshore Ghana and onshore Kurdistan region of Iraq in a programme we value at 62p risked.
Production hiccup at Ebok overcome. Net average working interest production in 2011 averaged 19,154 boepd (increase of 34% on 2010: 14,333 boepd) as a result of the successful commissioning of the initial phases of the Ebok field development. However, longer than anticipated periods of facilities-related downtime at the Ebok field owing to simultaneous operations and other logistical-related delays impacted average production during the period. Independently assessed recoverable reserve estimates at the Ebok field have remained unchanged, and Afren was able to increase output at the field sharply during the fourth quarter, to achieve an exit production rate ahead of guidance. Full year 2012 net production to average between 42,000 and 46,000 boepd. Longer term, Afren has a pipeline of large-scale development projects from known 2P and 2C reserves and resources today that is capable of delivering net production growth to 100,000 boepd by 2017.
Multi-well drilling programme underway. Nunya-1 prospect targeting a Cretaceous aged reservoir similar to Tullow’s Jubille field, on the Keta block offshore Ghana, is the highest impact exploration well to be drilled with the success case almost 66p/share. This well was delayed by damage to the Transocean Marianas rig. Additional drilling in Kurdistan, offshore Madagascar, Tanzania, Nigeria, the JDZ and onshore drilling in Kenya and Kurdistan is planned during 2012."

10 April: Canaccord Genuity : Buy - Upgraded from TP 140p to 160p.

heard it all before but would be nice to see it go to 160 AND STAY THERE.,.

Significant Oil Discovery in Kurdistan

the interesting bit ...

Osman Shahenshah, Chief Executive of Afren, commented:
"The successful result of the Simrit-2 exploration well represents a second major exploration success for Afren in 2012, following on from the Okoro East discovery offshore south east Nigeria. The scale of the oil column that has been intersected suggests that the Simrit structure and surrounding prospects elsewhere on the Ain Sifni PSC have the potential to be transformational for Afren".


i wonder what if any impact this will have on gkp

or the sp.,.

This is very good news for Afren... new territory of success

good news rather than very good news - afr only has a % of this find not all of it - the best bit for me it is light oil

Will cynic bank any profit this morning ? i have a small sell order in @150

no ..... i sold half at a good profit just before fiscal y/e and think i'll stay put with the balance

"Afren has a 20% interest in the Ain Sifni PSC and is partnered by Hunt Oil Middle East (60% and operator) and the Kurdistan Regional Government (20%)."

Afren announced the success of the Jebel Simrit-2 (20% stake) exploration well on the Ain Sifni PSC in Kurdistan encountering 409m of net oil pay (of which 312m is light oil) and as a result we add c.10% (+23p) to our PO/NAV. While accurate volumetrics cannot yet be determined, the characteristics are indicative of a multi-billion barrel oil discovery. The much smaller Jebel Simrit-1 discovery well in 1H10 (2C of 391mmboe) is the only point of reference and is differentiated here at JS-2 by the well being optimally located and encountering a substantial light oil column with no oil water contact. Moreover, on JS-1 no oil was recovered to surface and so a successful upcoming flow test on JS-2 is key to differentiating this impressive discovery. We reiterate our Buy rating and new PO/NAV of 264p.

from bank of america/merrill