< "> 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

Deutsche H/t FT AV


Event: Afren has released an operational update.
DB View: Production for 2013 came in at 47kboe/d (upper end of guidance 40-
47kboe/d) and revenue of $1.65bn (DBe $1.7bn) and operating cash flow of
$1.1bn (DBe $1bn) are largely in line with our expectations. Production
guidance for 2014 is 13% lower than our expectations at 40kboe/d (DBe
46kboe/d) as field shut-downs and cost recovery at Ebok, rig arrivals at OML26
and Kurdistan negatively impact. However, we expect the tax arrangements at
Ebok to limit the negative impact on OCF to some extent. Capex guidance for
2014 is higher than our expectations at $845m (DBe $635m) driven by
increases in development activity at Okoro, Ebok and Okwok. On E&A, we
expect an extensive seismic programme at Ogo in H1 with follow-up drilling in
H2. Afren trades at a 19% discount to our risked NAV of 180p versus the
sector on 27%.

"Is this the next Tullow" - I certainly hope it is not -

Tullow has been in free fall for the past two years, in spite of good broker recommendations.
They say some recent drilling news has not been good, but does justify such a fall. Perhaps it was overpriced previously, but it not seems to be good value, and with take over possibilities.
Maybe a warning - do not over chase Afren ?

problem for shareholders is all of their profit goes back into the sea so those involved make plenty of money but shareholders get bugger all.

don't know about you, but i get capital growth, which is just dandy by me

Oil company Afren (AFR) expects that revenues generated over 2013 will come in at around $1.65 billion (1 million pounds), up on the $1.57 billion (0.95 billion pounds) it generated a year earlier. The increase was driven by a 14% jump in net production as the Okoro and Ebok fields off the coast of Nigeria began to come in to their own. Management went on to argue that its exposure to oil markets in Nigeria, the Kurdistan region of Iraq and East Africa leave it in a good position to maximise value for its shareholders. The shares grew by 6p to 150.9p.

200p target now for me.....might not be in straight lines.....over the next 6 months.....the problem is that the market is all over the place ; one day rocketing...the next gloom and doom....with that in mind caution springs to mind for all investors, amateurs like most of us and the city professionals...surge in crude WTI price might help...

not so terrible over the last week or so :-)

No...looking good again....

i look forward to news of when their krg stuff comes on flow .... it won't be next week, but would be quite surprised if not during this year, though one can never tell with the politics in that region

Kurdistan is risky...still the same...good for 200p here...I think...loads of positives...

i really don't understand why charts are posted on this thread, as their is one in the header??

you're sort of right, though a big(ger) chart is always easier to look at, but what's your problem?
you post other bits and bobs which are even less debatable value, but no one often complains of them

oh now i see .... you have territorial jealousy because you started the thread .... what a silly billy!

If not already invested this chart gives me a bigger clue on whether I have missed the boat or not trading wise.

This one is even better :O)

chuckle chuckle chuckle :-)

Grow up.

stop sulking like a child who has had his toy taken away!

It might even rise tomorrow on crude delivery fears elsewhere....

13 Mar

Credit Suisse

177.00 target price , now


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makes me wonder if this will go the same way as gkp for the time being, might be a sell now whilst in profit and buy back at around 130ish