< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
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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

From Tullows update today.
Regards Kenya block 10A - 20% Afren
An accelerated exploration campaign is now being planned. Further 2D and 3D seismic data will be acquired and additional rigs will be mobilized, including a separate rig to drill the Paipai-1 prospect in Block 10A which is expected to commence drilling in the latter part of the third quarter 2012.

Broker Citigroup has in the past forecast that East Africa could become one of the largest exploration plays in the next decade.

All of the major oil and liquefied natural gas groups are apparently champing at the bit to acquire strategic entry in the region. Not a lot has happened in the sector, but whispers yesterday suggested all is about to change.

Indeed, shareholders of Africa-focused Afren, 1.8p easier at 104.8p, could soon strike it lucky because rumours were rife that ENI, Italy’s multi-national oil and gas company, and Exxon Mobil, the world’s largest energy company, are both running the slide rule over the firm. Either one could launch a bid in the region of £2.15bn cash or £2-plus a share.

Read more: http://www.dailymail.co.uk/money/markets/article-2171074/MARKET-REPORT-Brokers-wont-Africa.html#ixzz20AYQFlYy

£2 a share! what a joke..........ebok alone has got to be worth that.

something is only worth what another will pay

Most reports that I have seen have poured cold water on The Mail article as completely groundless, so it is likely that the sp is due to go down as fast as it went up. As a holder of AFR, I hope it doesn't, but expect it will!

I wonder if AFR OR BLVN ON SHELL MIND NOW THAT THEY HAVE MORE OR LEE WALK AWAY FROM COVE ENERGY?

I wonder if AFR OR BLVN ON SHELL MIND NOW THAT THEY HAVE MORE OR LESS WALK AWAY FROM COVE ENERGY?

with an all time high of 185sh and a potential rumoured takeout price of £2.+ that price may seem reasonable. unless one is a holder of course . and then it is always considered to be not high enough.
i did hold but not anymore, looking for good level to re instate.
has the rumour put a ceiling on the price potential? or not?
if takeout not forthcoming will price continue to recover or not?
please discuss. current price 115.0
im still flat and watching. too much risk for me at present. the rumour mongers have stopped me shorting if it gets back to 150sh .mind you , i still might. will wait to see what chart looks like at that time.if it happens.it may not.it may fail at 130sh
rumour and distribution seem to me to go hand in hand.
buying more here or averaging down is so dangerous so please do be careful.
personally i shant be buying for some time. unless i change my mind.
just my opinion
so please all dyor
regards and good luck to all
jkd

Afrens tading statement and operations update was 20 July last year so possible 2012 update in next few days

StockMarketWire.com

Afren has confirmed additional oil and positive test results from the Simrit-2 exploration well in the Kurdistan region of Iraq.

The well has been drilled to a depth of 3,800 metres and the total net oil pay has increased to 460 metres.

In addition, a cumulative flow rate of 13,584 barrels of oil per day has been achieved from three out of 12 zones tested.

The well had previously encountered an estimated 409 metres of net oil pay throughout Cretaceous, Jurassic and Triassic reservoirs down to the initially planned total depth of 3,700 metres.

Afren and operator Hunt Oil Middle East subsequently elected to deepen the well and continue drilling to a revised total depth of 3,800 metres in order to test additional prospectivity.

Analysis of data collected indicates the continual presence of light oil shows throughout the deepened section of the well, extending the estimated net pay encountered by the well to 460 metres.

No oil water contact has been established in the target reservoirs.



At 8:23am: (LON:AFR) share price was +7.25p at 126.15p


Story provided by StockMarketWire.com

sp starting to wake up a bit too, and none too soon!

Cynic,

You have enough time left to do well out of this company.

Patience!

Afren is now a proper Kurdistan play along with GKP, HOIL and GENL...

up up and away!!! Over short term. imvho

Steady blanche you'll be singing next in your beautiful balloon.,.

Even with good news we get knocked back again ,damn Europe !

Legget, who runs the Standard Life Investments UK Equity Unconstrained fund, remains relatively relaxed about the latest sell-off sparked by Spanish sovereign debt fears, although he admits that risks are heightened.

His other top 10 industrials are Weir Group (WEIR.L) and Afren (AFRE.L), which make up 3.1% each of the £405 million fund.

'Afren is a pure exploration and production play. It has been volatile in the past, but we think those concerns are overdone. It is operating in East and West Africa and Kurdistan, and significant new oil and gas discoveries have been made in all three. It is more a drilling story than an oil price one.'
http://citywire.co.uk/money/legget-loads-up-on-abnormally-priced-barclays-after-sell-off/a606587

"It is more a drilling story than an oil price one."

Interpretation: "It's more a jam tomorrow story than
instant gratification one.

Well I can't believe how low this is.....by now I would have expected the sp to be beyond £2.....no such luck......this recession is biting ....having not much success on the markets at all as of late...only PVR and SEA provide some comfort...the rest of my investments are a debacle....

StockMarketWire.com
Afren has started development drilling on the Okoro East field following the discovery in January.

In addition, a side-track of the existing Okoro-5 well has encountered additional oil volumes in a previously un-swept area of the reservoir within the Okoro main field, offshore south-east Nigeria.

Chief executive Osman Shahenshah said: "I am particularly delighted that we have started early development drilling at the Okoro East field, six months after the initial discovery.

"The Afren team has a demonstrable fast-track development capability and we are now creating tangible value and volume growth from our exploration campaign.

"Using existing infrastructure we expect an exceptional economic return from the early development wells.

"Furthermore, the completion and commissioning of the side-track well is a further example of how we are successfully optimising production and maximising economic oil recovery at the core Okoro main field development which we first bought onstream in 2008."