< "> 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

LONDON, Nov 7 (Reuters) - Iraqi Kurdistan has sold 34.5 million barrels of oil worth almost $3 billion since January, the Kurdistan Regional Government said, despite opposition from the federal government to independent oil sales from the region.

The KRG said in a statement on Friday that it would make an initial payment of $75 million to oil producing companies for their exports and would make further payments on a regular basis, sparking a rally in producers' share prices.

Companies producing oil in the semi-autonomous region include the UK's Genel Energy (Other OTC: GEGYF - news) , Gulf Keystone Petroleum and Afren (LSE: AFR.L - news) , and Norway's DNO (Other OTC: DTNOF - news) . Shares (Berlin: DI6.BE - news) in Gulf Keystone rose by more than 6 percent, and Genel shares rose more than 3 percent.

The KRG added that the proceeds of the $2.87 billion sales were being treated as part of what it claimed as its "constitutional entitlement" of 17 percent of Iraqi government revenues, which it says have not been paid by Baghdad since January.

"The KRG is balancing almost a year of non-payments of its budgetary allocation from Baghdad," said Ayham Kamel, Middle East and North Africa director at Eurasia Group.

The statement comes a day after the KRG's minister for natural resources told a conference in Arbil that the region's exports were approaching 300,000 barrels a day.

The KRG said that it had shipped 21.5 million barrels of crude to the Turkish port of Ceyhan and trucked 13 million barrels to the Turkish port of Mersin since January.

The KRG said it had received $2.1 billion in cash and $775 million in payments in kind via refined oil product sales. (Reporting by Sam Wilkin and David Sheppard in London; editing by Jane Baird)

There is a mention about Afren regarding a possible bid in todays FT, can someone paste it on here

22 hours ago
BP rises as bid talk resurfaces
...could be worth around 138p per Cairn share, analysts said. Afren jumped 12.7 per cent to 82.1p after announcing the resignation...who led Eni’s African M&A push, raised speculation that Afren is being targeted for a takeover by 7.1 per cent shareholder...Bryce Elder

>>>>>>>>>> FT

A few lines in FT ...

....speculating that the General might be preparing for a take over. Once again, nothing concrete but the usual speculation and conjecture whenever they see an out of ordinary daily rise. I've heard these kind of guesses for so many years now that for me they've lost their impact.

------------------
The Independent.

Is the gamble on the Kurdish oil industry about to pay off?

Producers in the unstable region have been struggling to get payment for their exports, amid squabbles between Kurdistan and the Iraqi Government over who should take what cut. But yesterday the Kurdish Ministry of Natural Resources said it would pay $75m (£47m) to exporters this month, with future payments to follow. It also revealed that exports have jumped by 60 per cent in the last four months.

The news sent producers in the region rocketing. Afren jumped 9.25p to 82.1p, Genel Energy 27p to 754p and Gulf Keystone Petroleum 8.75p to 75p.

that must be from friday, but sp level is still close enough

Who's in here in the 70's or 80's ??

pretty modestly at 94, but i didn't fancy topping up at the lower levels

I have itchy fingers for this ,can't decide ,see if it goes down or if there is a bid /oil price goes up etc etc get left behind.

i'ld say there must be a at least a reasonable chance of a bid, but when and for how much, goodness knows

one could make an equally valid argument TLW, which has long looked a prime target but has brought forth no suitors

Sold out in the low 100's back in at 73p jimmy.

Cheers , i sold at a tad over 104p end of Sept , want back in at some point ,i missed the 70's .

Nigerian Operations Update
London, 11 November 2014

Afren plc ("Afren" or the "Company") is pleased to provide the market with an update on its operations at Ebok, Okwok and OML 115, all located offshore Nigeria.

Ebok Central Fault Block Extension platform jacket installed.

At the Ebok field, following a favourable weather window, Afren and its Partner, Oriental Energy Resources Limited (Oriental), are pleased to announce that the jacket for the Ebok Central Fault Block Extension (CFBx) platform has now been installed. The installation of the decks and bridge will complete in early January 2015 once the wellhead jacket at Okwok has been installed; following which the Partners will commence the hook up and commissioning of the CFBx platform.

The work programme at the CFBx will include up to 9 new wells to be drilled and brought on-stream by the end of 2015 targeting both producing and undeveloped reservoirs. Elsewhere at the North Fault Block (NFB), the Partners continue to make good progress and are targeting completion of the third new producer by mid-December 2014. The forward programme at the NFB will incorporate up to an additional 5 wells by year-end 2015.

The Company remains on-track to deliver full year net production at the lower end of guidance between 32,000 to 36,000 bopd (excluding Barda Rash).

Drilling commences on the Ameena East Prospect

Afren and its Partner Oriental have spudded the Ameena East well located on OML 115, offshore Nigeria. The well is being drilled with the Shelf Adriatic I drilling rig. The Ameena East prospect will be targeting 65 mmbbls of gross unrisked resources in zones of prospectivity in the Biafra intervals that are productive north of the acreage, with secondary objectives in the Qua Iboe reservoirs equivalent to those at the Ebok and Okwok fields. The drilling campaign at Ameena East is expected to be completed in December, 2014.

Drilling at the Ebok Deep exploration tail targeting 50 mmbbls of gross unrisked resources in the deeper Qua Iboe and Biafra reservoirs is expected to commence in Q4 2014 following the completion of the third new producer at the NFB.

http://www.rns-pdf.londonstockexchange.com/rns/6395W_-2014-11-10.pdf

Toby Hayward, Interim Chief Executive of Afren, commented:

"With incremental new production to be brought on stream from both the CFB and NFB platforms, as well as from the Okoro FFD, Okwok, OML 26 and OML 113 developments, Afren is expecting to deliver strong production and cash flow growth in 2015 and beyond. We are pleased to have commenced our drilling campaign at the Ameena East prospect and are excited about the potential there and at Ebok Deep."

wouldnt exactly call it good or bad either way

markets not too impressed so maybe another buy opportunity in near future

Might drift now until the results of Ameena East come in.

Kurdistan region, Baghdad reach deal on oil exports and payments

By Michael Georgy and Isabel Coles

BAGHDAD/ARBIL Thu Nov 13, 2014 2:53pm EST


Kurdistan regional government confirms deal with Baghdad over oil exports

(Reuters) - The government of Iraq and the semi-autonomous region of Kurdistan have reached a deal to ease tensions over Kurdish oil exports and civil service payments from Baghdad, Iraq's finance minister told Reuters on Thursday.

Hoshiyar Zebari said the central government had agreed for the time being to resume payments from the federal budget for Kurdish civil servants' salaries.

Zebari, who is a Kurd, described the step as a "major breakthrough" that would reduce friction between the KRG and Baghdad. He said the payments would cover October and then November.

The deal was reached after talks between Iraqi Oil Minister Adel Abdel Mehdi and Kurdish Prime Minister Nechirvan Barzani in the Kurdistan region on Thursday.

Baghdad stopped paying for KRG civil servant salaries in protest against the Kurds' exporting oil to Turkey independently.

Under the agreement, Iraqi Kurdistan will give 150,000 barrels per day of oil exports - equal to around half its overall shipments - to the federal budget.

In Arbil, the Kurdistan Regional Government (KRG) confirmed the agreement.

"What they have agreed is that Baghdad will release some funds - $500 million - and the KRG will give 150,000 barrels per day of oil to Baghdad," KRG spokesman Safeen Dizayee told Reuters.

EXPORTS STILL UNDER CONTROL OF KURDS

He said a KRG delegation headed by the prime minister would travel to Baghdad soon to hammer out a more comprehensive deal and the regional government would not hand over control of exports to Baghdad.

A similar agreement was proposed in April but never advanced to a deal.

In July, then Iraqi foreign minister Zebari said the Kurdish political bloc withdrew from the national government in protest against Prime Minister Nuri al-Maliki's accusation that Kurds were harbouring Islamist insurgents in their capital.

The Kurds later rejoined the administration. But tensions persisted.

Maliki, one of the most divisive figures to emerge from the U.S. occupation of Iraq, was later replaced by Haider al-Abadi.

He is seen as a moderate Shi'ite capable of cooperating with Sunni Muslims, Kurds and other sects.

Iraqi leaders are under pressure to bury differences in order to counter Islamic State militants who have seized chunks of the country in the north and west.

There are about 5 million Kurds in majority Arab Iraq, which has a population of more than 30 million. Most live in the north, where they run their own affairs, but remain reliant on Baghdad for a share of the national budget.

(Writing by Michael Georgy; Editing by Keiron Henderson)

this little bit of news should help today

But the 4 year oil price low won't

After the great Kurdistan news, Afren still continues its downward trend.
Afren now needs to notify tbe market of its plans for Kurdistan.
When Afren bought the oil fields they were forcasting 175,000 boe/d

let me say it again ...... AFR is rudderless and there is no reason at all to expect much if any recovery until (or indeed if at all) a predator comes sniffing

it's quite a good bet that when (if) the guns go after shahenshah, an awful lot of other maggots will be uncovered in which he was the prime mover
i get the feeling that most if not all the other directors who got booted out were pretty innocent bystanders who were used as pawns by shahenshah to give his shenanigans a gloss of legality and respectability