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

This is but the very START kk ,,,,,,,,,All mms buying today -Only one selling .

TFC, I'm clearly a late joiner at 75p but up 13% already, many thanks for this thread. Any views on TAG??

T F C ,

" J " I got in at 61 , holding a fairly large amount. Thanks.

UPSTREAM JDZ bonus payments due soon

By Upstream staff

THE Joint Development Authority managing the Gulf of Guinea joint development zone between Nigeria and Sao Tome has indicated that all signature bonuses payable for production-sharing licences signed last month will be due by 14 April and that drilling on blocks 2, 3 and 4 should start before the end of the year, writes Barry Morgan.

Also, indications of a "possible billion-barrel find" in its debut wildcat on Block 1 by operator Chevron were cautiously backed by Nigerian Minister of State for Petroleum Resources Edmund Daukoru in Abuja this week.

"Possibly more than 1 billion and more than originally thought Obo-1 is not a disappointment though I am waiting to hear the final result," he said.
-------------------------------------------------------------------------------
06 April 2006 23:01 GMT | last updated: 06 April 2006 23:01 GMT

A post Ive pinched from ihub, written more eloquently than I ever could, and summing up the current postion perfectly.
(With thanks to poster DADD :4/8/2006 8:45:55

After reading hours of posts on IHub, RB, and the Yahoo CVX board, it would seem that a new person reading those posts may think that the boards comprise of mostly pumpers. If those new readers only knew the circumstances surrounding this oil find in Block 1 of the JDZ, then they would know why there are so many posts talking about over 1 billion barrels. What we have is very simply this, a few News articles stating a '1 billlion barrel find', and then what Daukaro (sp?) stated about ' over a billion barrels ' . Also making its way on the boards may be some posters ' in the know ' that may have seen first-hand what some of the results are. Can these news articles, Daukaro statements, and the 'posters in the know' be trusted?

I took some time and thought this out. Daukaro's words should be trusted. He is the Nigerian oil minister along with being the head of OPEC. It does him no good to state things that would not be true. For one thing, OPEC does not need anymore bad news circling them, and by falsifying information to the media I believe would be reason for dismissal. I do not think he would risk losing his position for a false statement. Regarding the news articles, all have basically stated the information was from an unnamed official source. Unnamed stands to reason, but Official is the one that made me take a closer look. Official means one in authority, which tells me that a board member or higher-end management stated and gave the information, on condition of anonimity. And most news agencies (not all ) would not want to print a retraction at a later date because they made something up. In this case, I do not see how so many different news agencies would do this, so I also take this at their word.

This leaves me to the last part, the ' in the know ' posters on the message boards. We had some who stated awhile back that their was a billion barrels and more in many blocks. Even the previous seismic stated this. So as of right now, we know that ONE, there is a billion barrels and more in block 1. But yet some posters have stated that this field is bigger than the Ghanwar field, which since 1948 has yielded more than 55 billion barrels and still going strong. Others are stating that the current field in block 1 will be a top 5 or top 10 of all oil fields discovered. Can these posters be trusted?

I cannot state if the fields are as large as many have stated. 3000 ft long, 800 ft of depth would entail an extremely large field. But yet nothing official has been released. I do hope that the find is as big as one can imagine, as it would be better for all investors, especially since the find is said to be straddling one or more of ERHC's blocks. What I can state is that the block 1 find is more than likely

lf you accept the accepted theory of oil formation in that organic matter living in the oceans and sinking to the bottom and under anoxic/euxinic conditions decaying to form crude oil you are probably correct in your assumption that this "strike" is not as big as Ghawar in S/A nor the Karachaganak in Kazakstan nor the Penglai in China nor the Sihil or Tobasco fields in Mexico . ,,But generally the price of a license for E/A is based on the probability of finding copious amounts of sweet low sulphur/ tar free oil , or gas { for LNG } within that acreage . Well compare the cost of a License in the Russias , or even the prolific Kazach acreage; and that figure is dwarfed by the sums paid by the licencees for the Nigerian delta and Sao Tome sites. Basically all around the horn of Guinea . Shell has known of such deposits for a generation but lacking both fiscal incentive with the oil price in a trough and technilogical innovation for " deep" extraction not yet invented gave it a wide berth Yet now ...>> ...The Ocean is littered with USA warships and aircraft of all types protecting this merchandise . The oil industry has friends in the highest places . .This oil is earmarked for protection under the "Carter doctrine " which stipulates that any attack on energy supplies heading for the USA will be taken as an act of aggression justifying war.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,All im saying is that the "farming in" on a side wind j/v with Chevron is going to make AFR a formidable player among oil juniors generating sufficient cash to embark on one of the most aggresive drilling programmes for such a young company . Cant beat excellent management whose c/v s boast of 20 years with BP or Shell or Texaco . ....Word on da street call Chevrons strike ( as operator ) among the biggest they have seen in West Africa with nearer 2-2.5 bb scuffs of gas with an oil leg yet to be sidetracked ,,, This is going to be HUGE !!!! ...lt is a labyrinth of gas finds at one levele with oil deeper still with yet more gas at what is now called the the "Super Deep" ........Perhaps no Ghawar ; but its individual strikes certainly on a parity with the North sea at this stage . ...................Wagers taken on 1+ by mid may ......b/ chance a'bientot ...@+ J

,,,,,,,,,,,,Amities / Slt Silvermede . No . You have certainly not missed the boat on this one . l could list a catalogue of reasons why this stock will outperform within not only its own sector ; but will finish the year as a 350 midcap with a m/c equating to an s/p of perhaps as high as 300/350p ....Allowing it to catch up with companies wih whom AFR are on a parity with now as things stand ......l added today on the lull at 75.5 ....Top drawer stock ! Supported by all quaters with institutions owning a wacking 60% ,Management and private equity groups and hi worth individuals all well represented ; and you neeed only look at the past months trading and chart to see a massive hike was predicted @ 63p Bonne chance /Faires attention ....@+ J

" J ",

Whats your view on SER & COP now ?

" J "

Am thinking of taking some profit on EEL @ 400

Nothing wrong with taking profit Roly . Always accept what the market offers. Play the percentages ,,,,, To be honest i had been thinking of selling 10% of my holding - 50,000 - in order to free up some capital . ( for gaspom )Bought @ 187p so cant complain ...Am busily mopping up AFR in the low 70's. l see this moving at twice the speed JKX or one of the plethora of junior oil players did in 2004/5 .......Believe me -All is not as it seems . Afren are understating thier case Re: SER and COP ....Holding a shedful of SER ( who isnt ? @ 0.52) and am of the belief that once the massive overhang of stock is erradicated this stock is on a parity with others out there which boast s/ps of ten times . Could make nice money from a mininum of outlay . .....Still holding COP ......@+ J...

Cheers, " J "

Afren PLC
11 April 2006

AFREN plc ('the Company')

Shareholding in the Company


The Company was notified today that, as at close of business on 31 March 2006,
Lehman Brothers International (Europe) had an interest in 18,792,254 Ordinary
Shares of 1p each in the Company, representing 9.92% of the total issued share
capital of the Company.

Just found this interesting article on Afren.The site is free to register.

http://www.proactiveinvestors.com/registered/articles/article.asp?AFR

Afren Energy: Could have a small slice of a very big pie

Afren was formed in 2004 by a group of oil and gas professionals with significant experience in the African oil and gas sector to establish the company as a leading oil and gas group within Africa.

The Company is led by acting Chairman Guido Pas, executive director Bert Cooper, and executive director Egbert Imomoh, the former Deputy Managing Director of Shell Nigeria. The executive team is supported by non-executive directors including Dr. Rilwanu Lukman, the former Secretary General of OPEC..a pretty impressive line-up...

AFR PR dept hardly rushed out the RNS dated 31st March 2006 that Lehman Bros had increased their holding to almost 10% of the company. Coupled with the fact Fidelity rushed out on 23rd March and increased their holding to 14,7 million shares ,,,,The electronic age ?? , A snail would have been quicker passing that news ......On a different note,,,,,,,,,,A second aircraft American carrier accompanied by six protecting frigates turned up at Sao Tome to protect thier new found "oil rich" bedpartners{ from Nigerian aggression basically} So a deal was struck beteen the USA and Nigeria { uSA is dependant on Nigerians as Peacekeepers in West Africa via UN so the applecart cant be rocked too much . } ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Then came unsubstantiated reports in a financial journal ( held in great esteem by many in the city of a major gas/oil double play with a major gas/oil payload of 1 billion bpoe having been discovered by Texaco/Chevron ...{That actually was a leak from Exxon and not the Operator- Chevron } . ,,,,My connections tell me this is quite true .lts AT LEAST a billion dollar baby ,,,,,,well basically youd have to be a f%434% moron to sell @ the moment . l MMS are shaking the trees .From top to bottom . And "T" +10,20,or 30 players settling up ....l stake my reputation on it . @+ J..and quite honestly a pretty large stake . , , Adopt for a moment the position of the mms frantically awaiting the inevitable ........... Utterly disgusted at the market manipulation .

TFC (J) Holding firm and with you all the way! We'll get there in the end though as patience pays off eventually. :-)

Issue of Equity



Afren PLC ("Afren" or the "Company") announces that it was notified on 19 April
2006 that Ocean Venture Investments Limited has exercised warrants over 800,000
ordinary shares in the Company. The warrants have an exercise price of 10 pence.



Consequently, the Company has allotted and issued credited as fully paid 800,000
new ordinary shares in the Company (the "New Shares"). Application has been
made for the New Shares to be admitted to trading on AIM and admission is
expected to occur on 26 April 2006. The New Shares will rank pari passu with
the Company's existing Ordinary Shares.


Following admission of the New Shares, the issued share capital of the Company
will be 190,239,496 Ordinary Shares.

A good day for AFR 90p at the close ?

Cat let out of the bag quite unwittingly by Nigerian minister for Mines and Petroleum who innocently asked Chevrons senior executives if a find of 1bbboe was within thier expectations . .....or where results a "dissappointment " or did they exceed expectations " Innocent naive banter yet a giveaway ........Announcement due from Chevron VERY soon . AFR must be smiling geleefully . 45 to 50 mmboe for " nowt"...........and what with their independant drilling prog due to start as soon as rig arrives little wonder this has had a good week ,,,,, 90p ? tommorow at 8.01 @+

french

do you post on the ad v fn ?

f

Amities / Slt Fortitude ,,,No i dont im afraid . .Am i missing something ?,,,,,,, ..Roly its funny where you get certain informations but on the messages from Sao Tome thread between ex pats in Sao Tome and Lagos revealed some astonishing news last night . Apparently Woods and Mckenzies admit they have finished their assayal And there it was in black and white ,,,,The result was a whopping C1 reserves of 1.1 bbls of low sulphur oil plus 1 trillion scfs of gas And that is C1 proven hydrocarbon. .Thats big money by anyones standards ; and music to the ears of Chevrons BIG shareholders who prefer topping up proven reserves with new finds as opposed to mere aquisition ...Yet Chevron have not made an RNS . ..Why? .Such price sensitive info could not be an error in hindsight. . Why would the operator of a major constituient of "Big Oil " allow what should be champagne popping days in the house of Chevron go unnoticed and prevent by way of proxy news of a price sensitive information type into the public domain .And in doing so ; SURELY flouting the rules of thier respective regulator..Unless ...,,the millitary are involved ( which they are ) ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.l think this "strike " is juste as political as well as fiscal . lt a small part of a field whose overall size is so vast that it made Bush immediately instruct two aircraft carriers protected by over 20 frigates- and ordered three more to be removed from the Med this year to assist in this new sao tome/ prencipe oil protection remit ... Talking to aguy i know at "Janes" and apparently the Nigerians are holding millitary manouvres as i write . Nigeria posturizing, of course, yet still shows the conflict is there. ......As i say l billion barrels of sweet crude and in excess of 1.2MM scfs of gas is a lot of money as i say hundreds of billions of $$ lf this sao tome oil is for 2013-15 consumption then how long be the drilling programme ? lt beggars belief .............,, l added today .This is a done deal and i suspect an RNS very shortly !!! @+ J