< "> 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

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

Barclays ups target...

18 Apr
Afren PLC AFR
Barclays Capital
Overweight
Price 143.00
Old target 195.00
New Target 205.00

Nicely on the move again! 149.5/149.7p

AFR is a strong buy.


Oil and gas company Afren (LON:AFR) continued to blaze a trail in the energy market today in light of the significant Kurdistan oil discovery announced yesterday.

Shares have jumped this week as a result and continue to rise today, up 1.26 per cent this morning to 145.10 pence.

UBS upped its target price by 10 pence to 160 pence and maintained its ‘buy’ rating following the oil discovery on the Simrit-2 well (Ain Sifni), which is positive news for the rest of the block.

The broker said: “We think this success at a number of reservoir levels on Simrit-2 has important positive implications for prospectivity on the remainder of the Ain Sifni block, where Afren has other potential targets.”

Nunya-1x exploration well result
London, 25 April 2012 - Afren plc ("Afren" or the "Company") announces that the Nunya-1x exploration well in the Keta block offshore Ghana has encountered thick and high quality water bearing reservoirs.

The objective of the Nunya-1x exploration well was to explore a large four-way dip closed Upper Cretaceous prospect in the Keta block, located offshore Ghana. The well intersected 153 metres of very good quality sandstone reservoirs, however they were interpreted as water bearing. The well was drilled with the Marianas semi-submersible drilling rig to a total depth of 4,550 metres in a water depth of 1,687 metres. Afren has a 35 per cent. carried interest in the Keta Block and is partnered by Eni (35 per cent. and operator), Mitsui (20 per cent.) and GNPC (10 per cent.).

Osman Shahenshah, Chief Executive of Afren, commented:

"Whilst the Nunya-1x exploration well result is disappointing, it was the first well to test the Upper Cretaceous play on the Keta block and as such has provided important data with which to calibrate and further enhance our understanding of this under-explored block in what still remains a very high potential basin. We continue to make excellent progress with our wider exploration programme, which has already yielded two significant discoveries year to date, and look forward next to the results of the Ebok North Fault Block exploration well which has spudded in Nigeria and is drilling ahead towards target."

StockMarketWire.com
Afren has unveiled a raft of senior technical management appointments for its operations in the Kurdistan region of Iraq.

David Kennedy ahas been appointed as managing director Afren MENA and will assume responsibility for Afren's operations in the Kurdistan region of Iraq, including the major Barda Rash field development.

Prior to joining Afren, Kennedy held various senior positions within Hess Corporation.

He has over 30 years of upstream industry experience.

Afren has also, appointed Mark Maurin as operations manager for the Kurdistan region of Iraq and Dr David Goggin as subsurface director.

Maurin will assume responsibility for the safe and efficient management of Afren's operations in the Kurdistan region of Iraq, including field development and production operations at the Barda Rash field development.

Maurin has over 25 years of international upstream oil and gas experience, and joins Afren from Hess Corporation.

Goggin will assume responsibility for Afren's post-exploration stage subsurface activities including subsurface aspects of the company's field development and production activities.

Goggin has over 24 years of upstream industry experience and joins Afren from Hess Corporation.

Am I correct - Afren have a 20% interest in block 10A with Tullow Oil in Kenya.
Tullow have found oil at block 10BB which seems close by
Why has Afren price not yet improved today ?
Maybe the market has not noticed this fact

Bargain price yet ? 116p ,sold mine the other day looking to get back in.

Goldman downgrades AFR but raises TP:

9 May: Goldman Sachs: Neutral - TP up from 178 to 199.

AFR is looking too cheap... bought some today at 118p.

Steady hyleo98...what's happened to the shorting jacket ?....

it's a straightjacket and it is being fitted to tomasz

"The Ebok North Fault Block ("Ebok NFB") exploration well was spudded on 12 April 2012 by Afren and Oriental Energy Resources ("Oriental"), and reached a total vertical (and measured) depth of 4,320 ft, with the Transocean Adriatic lX jack-up drilling rig. The well was targeting a separate fault block structure located to the north of the main Ebok field, and has successfully encountered 370 ft net pay (TVT) of good quality oil in the same Tertiary reservoir sands equivalent to those that have been developed and are in production at the main Ebok field development. The discovery of significant oil pay at this location underlines the high-grade prospectivity that exists across the wider Ebok/Okwok/OML 115 area, and represents an important step towards unlocking the full volume and value potential of what is a core hub of Afren's portfolio.

Logging operations at the Ebok NFB well have been completed, with data obtained supporting a PmeanSTOIIP in excess of 100 million barrels of oil, towards the upper end of Afren's pre-drill expectations. The well will now be suspended whilst Afren and Oriental determine the optimal development solution for Ebok NFB. This will likely incorporate synergies using the existing production, storage and offtake infrastructure at the main Ebok field and could involve the early drilling of new production wells from the existing wellhead platform at Ebok West Fault Block, followed by a full field development of Ebok NFB. The Transocean Adriatic IX rig will shortly commence the drilling of early production wells at the recent Okoro East discovery."

Deutsche Bank review note:
"Afren (Buy, TP 260p) A clear path to 200p and beyond -
Afren is the cheapest stock in our coverage universe on cash flow multiples and trades at a small premium to core NAV. As a result, we believe the shares are discounting little, if anything, for Kurdistan and East Africa where the company’s assets could deliver transformational growth. Even on a conservative view, we believe that the Nigerian asset base can deliver a clear path to 200p through a rolling development of discovered fields. We initiate with a Buy and a 260p PT."