< "> 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

Interims tomorrow.
2517

StockMarketWire.com
Independent oil and gas producer Afren reported record first half revenue and cash flow, with significant exploration success and production in line.

Record financial results were driven by the year-on-year increase in net production from the Ebok field offshore Nigeria. Production operations have also commenced at the Barda Rash field in the Kurdistan region of Iraq, just one year following the acquisition. The Company is developing an excellent exploration track record with successful wells in Nigeria adding significant reserves and a world class discovery in the Kurdistan region of Iraq. Notably, development drilling on the Okoro East field has commenced only eight months after the initial discovery.

Record sales revenue of $771.7 million and operating cash flow before movements in working capital of $558.3 million, driven by 218% year-on-year increase in net production.

Gross profit for the period was $396.1 million, driven by the increase in the Group's revenue and offset by related increases in operating costs including the DD&A charge for oil and gas assets and royalties relating to Ebok production. The DD&A charge for oil and gas assets in 1H 2012 was $179.5 million, an increase of 237% on 1H 2011.

Profit after tax on continuing activities for 1H 2012 was $100.2 million (1H 2011: $22.8 million), increasing in line with the impact of production growth, and reflective of a related increase in the Group's tax charge, increased finance costs, impairment costs, and a one-off gain on Afren's share of investments in associates which occurred in 2011.

Strong financial position:

- Cash at bank $443.7 million (1H 2011: US$320.9 million)

- Net debt $582.5 million (1H 2011: US$343.0 million) with majority long dated (2016-2019)

· Production in line with expectations; firmly on track for 2012 production guidance of 42,000 to 46,000 boepd

- Ebok performing in line with prognosis

- BR-1 well at Barda Rash successfully tested 6,000 bopd of 28° to 32° API oil

- Early development drilling underway at Okoro East

Excellent exploration success:

- Significant reserves additions from Okoro East and Ebok North Fault Block discoveries

- World class discovery at the Simrit-2 well in Kurdistan region of Iraq - first three out of a planned 12 DSTs completed have flowed at 13,584 bopd

- Ongoing active exploration programme

· Significant resource upgrade in East Africa from net mean prospective resources of 2,113 mmboe to 5,838 mmboe, following portfolio maturation since Black Marlin acquisition

- New plays identified offshore Kenya and Tanzania

Osman Shahenshah, CEO, said: "The first half of 2012 has been a period of notable success for Afren across all fronts. The strong financial results, with over seven hundred million dollars of revenue and half a billion dollars of net operating cash flow, all from Afren's greenfield developments, is testimony to our strong and established operating track record. The Okoro East and Ebok North Fault Block discoveries in Nigeria and Simrit-2 discovery in the Kurdistan region of Iraq will add significantly to the already material 2P reserves base of 185 million barrels and 2P/2C base of 995 million barrels of oil equivalent. In East Africa, the on-going maturing of the portfolio has resulted in a mean prospective resources upgrade to 5,838 million barrels of oil equivalent (from 2,113 million barrels of oil equivalent). With a number of high impact exploration wells to be drilled in both West and East Africa and the Kurdistan region of Iraq, and the growing production base, Afren is well placed for continued success".

Afren confirms start of exploration drilling at East Simrit
StockMarketWire.com
Afren and operator Hunt Oil Middle East have started exploration drilling at the East Simrit prospect on the Ain Sifni production sharing contract in the Kurdistan region of Iraq. The

Simrit-3 well is located approximately 10 km east of the successful Simrit-2 discovery well, and is exploring the eastern extent of the large scale Simrit anticline.

Nice to see AFR back to a decent level. Just annoyed that I didn't add to my holding sub 100p. 170p here we come?

Same here harry, didn't replace what I'd sold earlier, still have a decent holding.,.

Looking for 160p now, though chart looks as though it may stall at this level. However fundamentals look reasonably healthy, so will hang on for the moment.

and so AFR trundles quietly on its way .....

First oil at okoro extension
Production has commenced from the okoro field extension
At a stabilised rate of 5,000 bopd, increasing total output from the okoro area to approximately 21,500 bopd

Call yourself a cynic! an optimist I'd say. Such good news rewards us with a piffling 4p leaving us 8p adrift on last weeks 12 drop get real.

call yourself boxerdog? ..... crabapple or sourpuss might be more appropriate ...... as far as i am concerned, this stock is proving very profitable, but then i have held it for more than 2 weeks

oh shut up you total cock end.

oh dear oh dear ..... have you got a sore head or an mt wallet or both? ..... why do you feel the need to descend to the gutter with your comments?

Cock end! hardly gutter language, thought you'd be used to much worse what with your arrogant tone.

yeah yeah yeah ..... and my daddy's bigger than yours so yah boo sucks ..... i think that's about your level of intelligent posting anyway

I doubt your daddy acknowledges you. Your quite like the school bully but! one who does his stuff only from a distance before retiring under the rock from whence he slithered.

lol! he certainly doesn't any more - he died in 2003!
have you ever thought of moving affiliation to ADVFN? .... i think you'll find lots of friends there

I'm already a fully paid up member since 2008 thank you very much and I would like to add I only drop in here now and again to remind myself how fortunate I am not to have your disposition and to have to toleratate you unlike your poor family.
Now back in your box little man.

lordy lordy ..... i don't squelch, so i'll just ignore and wait for the pain to go away

boxerdog 1 v 0 cynic.

City rumour-mongers couldn't stop shelling out gossip on Europe's largest oil producer. On Wednesday, whispers emerged that Shell could be taking a look at BG Group after its share price sunk. Then yesterday FTSE 250 Africa-focused oil and gas company Afren was said to be its target.
Afren has already been the subject of takeover talk this year. Italy's ENI and Exxon Mobil were rumoured to be interested then. Afren's shares yesterday spurted up 5p to 142.7p.
http://www.independent.co.uk/news/business/sharewatch/market-report-shells-focus-has-switched-to-afren-8274677.html

there's a great many very good reasons why AFR could be targetted by one of the majors, but that could equally apply to PMO or TLW, and probably several other successful second tier producers