< "> 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

I did not agree with the Iraq invasion at that time....Saddam Hussain could have been dealt with in a better way......destroying everything was stupid and just makes enemies of the local population.....a country like Iraq....how shall I put it need a good dictator...(if there is such a word) to keep everybody in line as so to speak...throughout history, Iraq and Mesopotamia has been a troubled place but also a prosperous place at times when the right person has governed it...they need a good leader to emerge that will be fair to all...perhaps one day such a man or woman will come along....

i believe it's either, though i learnt that for some reason it was rhyming for pratt&witney, though i know not why ..... and neither do i pretend to be a pedagogue of any kind, let alone about m/e or other byzantine politics

.

nor even a pederast :-)

where's that bloody dictionary........AGAIN.,.

You are all acting rather ignominiously

poor old Emu (aka BB) will be breaking out in a cold sweat soon with all these new words to learn :-))

Now after all that can someone tell me if Afrens going up or down ?

yes!

Thanks for that cynic ,you filled me with confidence..

Cynic was right - they went down

cynic aka "infallible" :-)

mis - spelling, you meant inflatable ---- full of gas.,.

bugger off and frighten the donkies on the beach :-)

lol....ee aw ee aw.,.

He would still be right if they went up

You don't say!!!

Cynic - With all your inflatability, what are they doing tomorrow

not a lot!

oil prospecting
Afren (LSE: AFR), rated a BUY by Deutsche Bank
With investors as wary as they are, firms are being punished heavily for even minor disappointments. Take oil and gas explorer Afren. Two months ago, its shares dived on news that an exploratory well off the coast of Ghana had encountered water. Yet this accounts for just a
tiny part of the group’s reserves. There’s still plenty to play for in this “very high potential basin”.
Moreover, in April, chief executive Osman Shahenshah unveiled a “potentially transformational” oil discovery in the Kurdistan region of northern Iraq, in which Afren has a 20% interest. Results from a well operated by its US partner Hunt Oil pointed to “strong hydrocarbon shows” at a field that has previously been estimated to contain up to 917m barrels of recoverable oil (mmboe).
In January, Afren announced another huge find, in which it owns a half-share, off the coast of southeast Nigeria. Data indicate a possible resource of 157mmboe. This year the company plans to drill
up to another 14 exploration wells
across Kurdistan, east Africa, Nigeria
and Congo, targeting new resources of 630mmboe. In March the CEO said the
firm had 3.5 billion barrels of prospective resources.
For 2012, management expects actual output of between 42,000 to 46,000
boe per day. By 2017, following the construction of a pipeline linking Turkey with Kurdistan, this is set to almost treble to 125,000 – which suggests plenty of upside from today’s valuation. Even after factoring in its relatively high gearing,
the shares look far too cheap. In the first quarter alone, Afren generated $300m of operating cashflow from lifting 41,308 boepd. At this rate, it should have little trouble repaying its net debt of $639.4m, $138m in finance leases and $217m in deferred consideration.
Corporate governance is one issue to watch – the firm recently got a public tongue-lashing from a few major shareholders, after Shahenshah’s pay more than doubled to $3.4m on a one-off bonus. Other risks include cost inflation, oil price volatility, geopolitical risk, environmental pollution, natural disasters and foreign-currency fluctuations. But assuming a Brent crude price of $90 a barrel, I value the stock at 140p a share. Deutsche Bank has a target of 270p. Interims are out on 21 August.
Rating: BUY at 101p