Amities . l have been discreetly buying this stock since it was 39p . And the more i learn the bolder are the positions i take . .....Floated in Dec 2004 it was oversubscribed and before costs the required $15 million was raised. At the helm is ex BP head of Global exploration and Resavoir management . Furthermore a success story at Global Expo . Now Nick Johnstone wants to set up on his own . And after speaking to him l am not at all surprised . He is like a "Who s Who " of the hydrocarbon world ...He has ALL the prerequisites for success so why work for some other lackey ! .. namely connections from his ertwhistle employers . He has assembled a first class management team from ex colleauges at BP ; and is his business model is simple . AFR farms in on "Big Oils " inception upstream ; and with its scale of economy it works closely with "Big oils" fields on the look out for excellent workovers oppertunities .... Already lt has via a complicated j/v a percentage of the Sao Tome and Principe acreage -Located between the oil rich waters of Nigeria and those of Sao Tome and operated by Texaco / Chevron and Esso; and believed by many to be the new North sea . . 3D Seismic testing and magnetic graphic imagery and satellite imaging has located a labyrinth of channels leading to a main resavoir which is believed to14-15 mmbbls of oil and which would leave AFR with its share of 120/140 million barrels for NO cash outlay .To ensure early cash generation Afren has entered into a production sharing agreement in the developed Ogedeh field { adjacent to the BP operated Olowi marin field which is believed to yield 180 mmbbloe. Furthernore AFR has agreed to drill the lbekelia project for Ascent resources which is expected to produce 2,500 b/pdoe to satisfy AFR percentile share ,ln addition it is a believed resouce of several years . .. , .Not a bad start for a company with little more than six months in the making . ....and well worthy of investigation !! .....@+ J

I think so TheFrenchConnection

I see all the pieces fitting into place as many people are saying but is the sp stuck down with super glue!

Its just possible that this one has been seriously overlooked and when production gets going the sp could explode

Trouble for me is i bought a lot @ 82p, still 18% down with these.

My average is about 56p now i did buy a few in the 70s but managed to average down buying in the 40s
The one thing about this company is they do what they say and nearer production start up the more the s/p will climb and these s/ps will be long gone
I would like to think the company my surprise us up to production start up and lets not forget JDZ this is by all means not over

Keith

Mes amities a' vous / Salut ! The most singular variable analyists abhor reg oil PURE exploration outfits is DELAY ,or not adherring to the original business model/ plan ,that was originally set before them . As you all know Oil exploration is a highly cash intensive business with operators incurring average daily costs of 60,000 p/d on a single well.( unless, of course, you are an offshore expo when costs can reach as high as 120,000 p/d ) These costs are also excerbated by a very tight rotary count . For example DES and FOGL have waiting two years for suitable drills to become available. ........Now reg.Afren; We have been a model of utter consistency.That has not gone unoticed by the big institutions or hi value individuals as bourne out by our shareholders list . .Akin to completing a jigsaw have worked methodically, professionally, and with great patience . Our board, and snr management, are all well known in the industry and, perhaps more importantly , in the city. All are proven variables .We have a team of geolists of the finest calibre and led by one of the leading lights in the entire industry .. For NEVER, and i mean NEVER foget that when you invest in a fledgeling PURE expo YOU are investing and utterly dependant on the calibre of your management and esp. YOUR geologists. Both are a very rare breed and the difference between success and failure As a consequence of the 2002/2006 price hike in crude a vast plethora of new expo outfits have sprung up out of nowhere ..Most are doomed to utter failure . But we have the very best of everything . From the board and employees to financing from banks, institutions and investment houses.. ln addition, and finally, we have in the Niger Delta acreage which Woods and Mckenzie reffered to as "the new North sea" and other concessions in West and central Africa inc. one field adjacent to French "big oil" players Total/Elfs patch and French midcaps M&P acreage at La Noumbi in the Congo , which all look extremely promising and exiting .The future is ours.lts their for the taking . Of that i am sure . So enjoy the ride. ..................For the record i have positions as low as 39p but as high as 71p- and am NOT in the habit of throwing a tad in excess of 275,000 of my own money into very big holes in the ground !!!!!,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,sois sages et a'bientot mes potes !! Faires attention .......@+ ..J......................................................................................................................................................................................................................Your quite correct Keith the debacle reg.JDZ has far from reached ANY conclusion

Your not the only one up early ' J ' @+

havent been to bed R. Too busy.....@+ J

Proactive Investors One2One Forum

Tuesday 24th April

Proactive Investors One2One Forums Present:

Fat Prophets, Cardinal Resources & Afren Oil

Fat Prophets will inform attendees of its outlook for crude oil during 2007 and the foreseeable future. This will be followed by two oil and gas focused companies listed on the London AIM market, Cardinal Resources and Afren Oil. All attendees will be welcome for the duration of the presentations which is expected to last 60 minutes, starting from 6pm.

After the presentations are complete, Fat Prophets Chartered Financial Analysts & the directors of Cardinal Resources and Afren Oil will be available to take questions during a free canapand wine reception which will be open until 9pm.

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB Click here for a map of the venue

Canap and wine reception to follow
We look forward to your attendance.

http://www.proactiveinvestors.co.uk/eventregistration.asp

Can't make it. But would be grateful if somebody could post any juicy highlights. 8-)

Am not able to make either wish i could

If you can't make it then the presentation will be available tommorrow afternoon for download at www.proactiveinvestors.co.uk

Many Thanks KK2000 8-)

A tip in the sunday telegraph


http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/04/29/cxequit29.xml

I was hard to believe today's trade's over 5 million buy's and 156 thousand sells and such a small rise on the day. Could it be all down the tip in the Sunday telegraph
why so many bought in i would have thought not or some big seller ready to offload, or maybe somethink else

Afren PLC
08 May 2007


Afren plc (AIM: AFR)

Afren enters into a Farm-In Agreement with Independent Energy for participation
in the Ofa Field

London, 8 May 2007 - Afren plc ('Afren' or 'the Company') announces that it has
entered into a Farm-In agreement with Independent Energy Limited ('IEL') for an
interest in the Ofa Field, located in the Northern Niger Delta.

The Board of Afren is delighted to announce that it has entered into an
agreement with IEL, an established indigenous Oil & Gas company, to farm into -
and jointly develop - the Ofa Field ('Ofa'). IEL was awarded a 100 percent
interest and operatorship of Ofa under the Federal Government of Nigeria's
Marginal Field Programme.

Ofa is an undeveloped oil field in OML 30 located onshore in the Northern Niger
Delta:

A recent independent assessment by Gaffney, Cline & Associates estimates
mean Stock Tank Oil Initially in Place ('STOIIP') of up to 150 mmbbls.
The field is covered by good quality 3D seismic data and consists of up
to eight oil bearing reservoir intervals in the Agbada Formation between
6,670 and 7,280 feet.
Ofa is located close to existing infrastructure and within 15km of a
number of Shell producing fields, including Afiesere, Eriemu, Kokori, Oweh,
Olomoro and Ogini.

The field was initially discovered by Shell (Ofa-1) and subsequently appraised
by the Ofa-2 well:

The Ofa-1 exploratory well was drilled as a vertical well on the crest of
a roll-over anticline structure to a total depth of 10,000 feet.
Shell initially reported oil in three reservoir levels and the well was
suspended as a discovery.
The Ofa-2 appraisal well was drilled directionally on the southern flank
of the structure at a distance of 3km south of Ofa-1 and encountered gas and
condensate.

The forward work programme includes a well test scheduled for Summer 2007. The
test involves re-entry of the Ofa-1 discovery and will test four out of the
eight identified oil bearing zones. In addition, several cased hole logs will be
run to confirm and update contacts in two key reservoirs, with the potential to
add additional volumes. During the test, relevant reservoir parameters and crude
samples will be collected for further analysis to optimise the development of
the field. All the necessary contracts for the well test are in place and
mobilisation to site is expected shortly.

The Farm-In Agreement signed between Afren and IEL defines the commercial terms
under which Afren will participate with IEL in the development of Ofa, and is
subject to requisite approvals. Under this agreement, Afren will be responsible
for paying all costs for the development of the field, and will recover the
costs from 80 percent of net field revenues. Following cost recovery Afren and
IEL will share production revenue equally.

Osman Shahenshah, Chief Executive of Afren, commented:

'I am delighted to have formed another important partnership with a well
established indigenous company. Participation in the development of the Ofa
Field, a material near-term project with the potential to expand our current
production target of 15,000 to 20,000 bopd in 2008, is a significant addition to
the portfolio and is consistent with Afren's business model of partnering with
indigenous companies in near-term production opportunities, with low cost
development options.'

8 May 2007

Enquiries:

Afren plc +44 20 7182 1800
Osman Shahenshah Chief Executive
Evert Jan Mulder Chief Operating Officer
Galib Virani Investor Relations

Jefferies International Limited +44 20 7618 3500
Toby Hayward
Jack Pryde

Tristone Capital Limited +44 20 7399 2480
Simon Ashby-Rudd
Majid Shafiq

Pelham Public Relations +44 20 7743 6673
James Henderson
Alisdair Haythornthwaite

Background information

Afren Plc

Afren (
www.afren.com
) was founded in December 2004 by a management team
including Dr Rilwanu Lukman, (Chairman), Osman Shahenshah, (Chief Executive) and
Bert Cooper (Advisor to the Board), with the vision to become the premier pan
African independent Exploration and Production company. Since its listing on the
AIM market of the London Stock Exchange, Afren has rapidly expanded its
portfolio and the management team has delivered nine assets in the Joint
Development Zone of Nigeria Sao Tome and Principe, Nigeria, Gabon, Angola and
Congo Brazzaville.

Afren will continue to add to its diversified portfolio of near term development
and high impact exploration, with the overall objective of creating substantial
shareholder value.

Independent Energy Limited

Independent Energy Limited ('IEL') was established in 2000 as an indigenous
exploration and production company. IEL was awarded a 100 percent interest and
operatorship of the Ofa Field, located onshore in Shell's OML 30 in the Northern
Niger Delta, in 2004.

IEL has a strong and diverse Board and Management team including Dr Bamanga
Tukur, Murtala Yar'Adua, Dr Steve Uhonmwangho, Mahmud Tukur, Chukwuemeka
Ikelionwu and Shamsudeen Bello.

Note

In accordance with the AIM Rules, the drilling update information in this report
has been reviewed and signed off by Dr Nick Johnson, who is Head of Exploration
and Production at Afren Plc and has over 25 years relevant experience within the
sector. He consents to the information in the form and context in which it
appears. The Company estimates its reserves in accordance with the guidelines
and definitions of the Society of Petroleum Engineers/World Petroleum Congress
('SPE/WPC') reserves classification (March 1997) using accepted engineering
principles.




This information is provided by RNS
The company news service from the London Stock Exchange

Looks like well received new's up over 6%
Am not sure if the funding will come out of the $200million Debt Facility from the new's at the time note the word primarily
Hope it does anyway

The Company has secured a US$200 million, 5-year Senior Secured Revolving Reducing Credit Facility (the "Facility"), which will primarily be used to finance the development of the Okoro Setu Project

I wish we could get through that 60p and stay above for once. Even Higher would be nice, as my first batch of these was @73. Brought in also @50 so averaging out at moment. But have very high hopes once they get going.

60p looks to be a resistance level at the moment but am not worried
We look to be going on an interesting journey blanche am sure won't be long, this s/p is my average now

PS only you and me posting LOL

Everybody else has probally got a life. LOL Iam off to crack open a bottle of wine a dream of higher sp`s. Sad or what LOL.