< "> 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

Going back down to 40p I guess in the next few days

LAGOS (AFP) - Militants in Nigeria's Niger Delta region said Wednesday they had blown up two key oil pipelines in the region operated by the Anglo-Dutch oil giant Shell (LSE: RDSB.L - news) and the Italian group Agip.

The Movement for the Emancipation of the Niger Delta (MEND) said in a statement it had blown up the lines in a pre-dawn attack in the Bayelsa state, in the Niger Delta, as part of their campaign to cripple the oil industry.

Might not go as far as 40p...the drop is certainly more than the drop in crude and might be coupled with the above news.

all oilies have been hit pretty hard, even TLW which came out with a cracking trading statement

Nigeria Rebels Claim Attacks on Shell, Agip Oil Pipes (Update1)
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By Dulue Mbachu

July 8 (Bloomberg) -- The Movement for the Emancipation of the Niger Delta, the main militant group in Nigerias oil region, said it sabotaged major crude trunk lines run by Royal Dutch Shell Plc and Eni SpA subsidiary Agip.

The latest attack against Nigerias oil industry took place in Bayelsa state at about 2 a.m. local time, Jomo Gbomo, a spokesman for MEND, said today in an e-mailed statement.

A pipeline feeding Enis Brass terminal was sabotaged at Nembe Creek, while Shells Nembe Creek line was damaged at the village of Asawo, Gbomo said. Precious Okolobo, Shells Nigeria spokesman, didnt immediately respond to a telephone message. Eni officials also didnt immediately respond to e-mails.

MEND has intensified attacks against oil installations in the oil-rich Niger River delta since the military began an offensive against its positions in May. MEND claims to be fighting for a greater share of the regions oil wealth for local communities.

Armed attacks in the delta, which accounts for almost all of Nigerias oil output, have cut more than 20 percent of the countrys crude exports since 2006. Nigeria is Africas leading oil producer and the fifth-biggest source of U.S. oil imports.

The rebel group rejected an amnesty offer from President Umaru YarAdua on June 25, saying the move failed to address key issues. Under the amnesty terms, fighters in the Niger River delta have until Oct. 4 to surrender their weapons, renounce violence and accept rehabilitation in order to avoid prosecution.

From Digital Look:


The Telegraph looks at the oil sector. Of the oil majors, BP is a buy because of its dividend. For future production growth, it has a buy stance on Tullow Oil, Dana Petroleum, Afren and Venture Production. In liquefied natural gas, BG Group is the preferred play and there is a buy stance on three oil service companies: Wood Group, Petrofac and Cape.

Perhaps the oil price will settle in a $60 to $70 zone now after rocketing to $147 and then crashing to $35 and up again to $73.....who would have thought that it would do that just 2 years ago...?....a bit like a rubber ball dropped from a high rise building with the graph starting upon impact !.

This is a bouncy baby !...I still think that this will go to the pound level within a year !.

i'm happy to hold these too

I sold 50% for .60p now looking to get back in, reckon high 40's is as low as it will go.

hmm! ...... chart is self-explanatory

You think lower? iyo

hard to know - well, one never does of course - but the oilies in general have taken quite an indiscriminate bashing of late.

indications are that AFR has a stack of potential and there is a reasonable argument that the 25 dma around just below the current price will give support ..... sp dipped below this morning, seemingly to touch 50 dma at +/-48

pays yer money, takes yer choice

No, he thinks higher. Or else he wouldn't be happy to hold.

doesn't actually follow ...... sp could easily fall further, but that would not change my stance ...... in fact, i have just topped up at 51.25, but may well use that piece for trading

lol, cheers you two.

Should bounce from these levels imo good support at 51p

Like cynic said all oilers affected.

Starting to move up again....when are they going to move to the main market...hope I can put some in an Isa.

topped up here yesterday ..... oilies in general are being beaten up in line with the tumbling crude price ..... in some ways a bit daft, especially with the likes of AFR and TLW which have made some huge and real finds in the recent past, and which will come on stream within the next year or two