< "> 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

Mitzy
Oh - Is that your logic ?
OK

rekirkham.....see GENL chart. Looks like investors in the region are all getting a little nervous.

I agree GENL, and Gulf Keystone very weak.
Also Ferrexpo is weak with problems in Ukraine.

As you know Afren is also in Iraq, but that share price is bombed out already below NAV already.
With Afrn it all hinges on what news we get next - re directors
( ? If directors are sacked will it go up, as we already do not trust them ?
If directors are reinstated will it go up ? ) Is that a "catch 22" ?

We need America to go into Kurdistan only, and clear up there.
Forget about wider Iraq, they had their chance and messed it up.

Would we all be better off without religion ? Sunni, shia, catholics, anglicans, protestants, jews, etc etc ...
I do not think Buddism is a religion as such is it ? That is my choice for "comfort and guidance"
I guess it would be too much to all agree to worship the same prophet from God ?
Who is God you ask ? -
I thought I was talking about Afren !!!

p.s. - Good old America - they are the saviours for the world it seems.

UN can not make any decisions only veto's, from Russia etc
Does Germany have an army yet ? they never seem to get involved these days
Switzerland, Portugal, and many others just keep quiet, and hide behind our skirts.
EU - I now longer understand what they are all about., We are better out of that club.
UK and France seem to have heart in right place, but are weak on their own.
Russia - Who knows what their motives are - is it expansion still ?
China - a big wealthy country - seems to have problems within.
Saudi, Iraq, etc after all they are mainly Muslim - why do they not do more than America ???

God ( whoever he is ) bless America, our saviour,
- who carries the can and takes the blame and pays the bills, without much credit

Buddhism you say?
Hmmmmmmm.....not so sure!

http://www.coastaldigest.com/index.php/news/66143-myanmar-buddhist-terrorists-threaten-massacre-of-muslims-in-ramadan

Harrycat - Now you have dashed all my hopes
( Sorry we should now be on "Talk to yourself thread" I think )

There should be limit that each country should only have 5% Muslim in a Christian country, ect,ect,ect,

this isn't a christian country!

Do it anyway

Anybody like to take a guess on how long it will take for news on what as been going on with those two directors

depends who has to be paid and how much to keep it all under the carpet! :-)

Sounds just like Britain !.....in fact Money AM is one of the rare places where you express yourself....unusual for this country with all the corrupt media there is around....Africa can't work without it.....(must have taken a leaf from Fifa)...

Up 3% - more buyers than sellers
News should soon be out - maybe some leaks are now seeping out ?
Kurdistan / Iraq today much more settled

Seeping and creeping ..... ????
.... up over 4.5% so far today
.... somebody out there knows something I think
.... we may get some news soon ... I hope !!

Breaking 110 next stop 115 , yes news thursday / friday maybe

ith the FTSE 100 still hovering around all-time highs, it's getting hard to find any shares out there that trade at an attractive valuation. However, I believe I have found five gems: Afren (LSE: AFR), Sainsbury (LSE: SBRY), Petrofac (LSE: PFC), BP (LSE: BP) and Tate & Lyle (LSE: TATE), all of which currently look undervalued.

Trouble in the Eastoil

Afren has been hit with a wall of bad news this year. With battles raging near some of the company's key oil prospects within Iraq, it was revealed that Afren's CEO had been suspended as he had made some unauthorized payments.

Nevertheless, despite worries the company's underlying business appears to be functioning well, although oil production is expected to fall slightly this year. The City expects the company to report earnings per share of 12.2p this year, putting the company on a forward P/E of 8.8. Current expectations are for earnings to grow 8% during 2015, which puts the company on a 2015 P/E of 8.1.
https://uk.finance.yahoo.com/news/seeking-value-afren-plc-j-143859798.html

Suspension of Associate Directors Pending Investigation
London, 28th August 2014

Afren plc ("Afren" or the "Company") announces that the Board has temporarily suspended Iain Wright and Galib Virani, both Associate Directors of the Company.

Further to the announcement by the Company on 31 July 2014 regarding the suspension of the CEO, Osman Shahenshah, and the COO, Shahid Ullah, the Company has continued its investigation in relation to the receipt of unauthorised payments potentially for the benefit of the CEO and COO. During such continued independent review on the Board's behalf by Willkie Farr & Gallagher (UK) LLP, the Board were made aware by Iain Wright and Galib Virani that they have received payments which are linked to the previously identified unauthorised payments for the benefit of the CEO and COO. These payments were not made by the Company.

No conclusive findings have yet been reached and the investigation is ongoing. The investigation has not found any evidence that any Board members, other than Osman Shahenshah and Shahid Ullah, were involved.

The Board remains of the view that this will not negatively affect the Company's stated financial and operational position.

The Board will update the market further as appropriate.

The last two lines should make the shares rise...not drop....but .....will they ?...

All this delay creates apprehension, and concern, and a bombed out share price.

It would be nice if we, the owners of the Company, had an idea what all the mystery
is about. ???????????????????????????

Also we could have an update of the enquiries in progress, even if the problems are
not yet fully resolved. ???????????????????????????

The directors are paid massive amounts of money and we deserve to have confidence and trust in them.
If the directors have taken money that would normally belong to the Company, I hope we see some police / legal action taken, rather than them saying "sorry" or them being
suspended or retired, like Civil Servants are.

Makes me wonder how passive large Institutional shareholders are, and why.

http://www.moneyam.com/action/news/showArticle?id=4876179

2014 Half-yearly Results
London, 29 August 2014 - Afren plc announces its Half-yearly Results for the six months ended 30 June 2014 and an update on its operations year-to-date 2014, in accordance with the reporting requirements of the EU Transparency Directive. Information contained within this release is un-audited and is subject to further review.

2014 Half-yearly Results Highlights
· 1H 2014 net production of 33,488 bopd; Full year production guidance revised to 32,000 to 36,000 bopd, removing Barda Rash, due to temporary suspension of activities
· Two rigs on location and drilling ahead offshore Nigeria on the Ebok and Okoro fields; Central Fault Block Extension platform to be installed in Q3 2014
· Approval received from the Department of Petroleum Resources for the initial five well development of the Ogini Field. Rig on location and development drilling well underway
· 3D seismic acquisition on OPL 310 complete and interpretation ongoing; further drilling to commence in Q4 2014
· Profit after tax of US$160 million (1H 2013: US$62 million) reflects tax exemption at Ebok offsetting reduction in pre-tax profit and revenue
· The balance sheet remained strong with net assets of US$1,972 million
(1H 2013: US$1,498 million)
Outlook - Targeting 5-year double digit production growth
· Production ramp up starts in 2H 2014
₋ Ebok - 6 new producers planned
₋ Okoro - 1 infill well and 1 side-track well
₋ OML 26 - 3 new producers planned, currently logging while drilling (LWD) on first well
₋ Okwok - commence fast-track development drilling
· Ebok deep exploration tail to spud in Q4 2014, targeting 50 mmbbls
· Transformational reserves potential
₋ Only 26% of total discovered 2P/2C barrels in production or under development

Toby Hayward, Interim CEO of Afren plc, said:
"Despite recent challenges Afren is totally committed to delivering on our work programme across the portfolio. With numerous growth opportunities expected to drive a step-up in near-term production, cash flow and reserves, we remain in a strong position to deliver shareholder value in 2014 and beyond. We believe we will come out stronger from the ongoing issues and I would like to thank all our shareholders for their continued support. "