< "> 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

NEW YORK (MarketWatch)—The Libyan National Oil Company said on Sunday that the oil ports of As Sidra and Ras Lanuf have stopped operating because of fighting, according to media reports.

Militias from the city of Misurata attempted to seize control of oil facilities in the country’s east, and the ensuing conflict involved airstrikes by Libyan Air Force.

Libya declared force majeure on both ports, which protects them against claims from oil buyers for losses from the disruption. The latest skirmishes and closure of the oil terminals, which account for about 300,000 barrels of oil exports daily, are likely to add to further volatility in oil prices.

Nigerian oil workers go on strike
fuel being sold on the black market during a previous strike Fuel was sold on the black market during a previous strike

Nigeria's two main oil workers' unions have begun a nationwide strike, threatening to hurt the output of Africa's largest oil producer.

The unions, Pengassan and Nupeng, said the strike would continue until the government addressed its concerns.

These include the adoption of the delayed Petroleum Industry Bill, aimed at overhauling the sector and maintenance work on oil refineries.

The unions frequently go on strike or threaten to strike.

"We've commenced the strike. It will affect oil production, since all operations are on strike," Pengassan chief Babatunde Oke told Reuters.

However, an oil executive said the strike was not expected to affect output, because it would require the co-operation of large numbers of workers at production sites who would be unwilling to go that far.

"It's very difficult to shut them down, and once they do, it would take them a week to get them back up. They never do it. That's the last thing anyone wants," an oil executive told Reuters.

The BBC's Will Ross in Lagos said most of the unions' demands seemed "unrealistic, especially with an election looming".

"The refineries are not suddenly going to be fixed because of this strike. Some oil industry watchers suggest the unions are simply trying to force the government to pay them off and get a hefty Christmas present," he added.

A strike in September had little impact on oil production.

However, our correspondent says that if the strike continues for more than two days, it will mean people having to spend hours queuing at fuel stations and buying fuel for an inflated price on the black market.
http://www.bbc.co.uk/news/business-30479898

Standard Life increase their holding to over 8%.
Now holding over 90m shares.

Yes i noticed that,8.127% in total,getting very te,pting now.

Yes i noticed that,8.127% in total,getting very tempting now.

Dropping like a stone at present?

15:05:20 33.77 6,293 AT 33.77 33.86 Sell 3,624,783 3,190,01

">

I expect 30p this week.

http://www.marketwatch.com/story/oyster-completes-its-drilling-and-coring-program-in-block-1101-madagascar-2014-12-15

Dec 15, 2014 (ACCESSWIRE via COMTEX) -- Vancouver, BC / ACCESSWIRE / December 15, 2014 / Oyster Oil and Gas Ltd. ("Oyster" or the "Company") is pleased to announce that the drilling and coring operations in Block 1101 onshore Madagascar, in which Oyster holds a 10% working interest, are now complete.

As reported by the Operator, Afren PLC (AFR) ("Afren"), a total of four strategic locations on the Block, which measures some 11,200 Km2 (2.8 million acres), were successfully drilled and cored to an aggregate depth of 2,000m (6,500ft) with approximately 1,760m (5,720ft) of core samples recovered. Drilling at each of the locations successfully completed its respective technical objectives to assess specific aspects of the blocks petroleum systems.

Two of the core holes were drilled to depths of 650m (2,112ft) and 500m (1,625ft) adjacent to the 1902 coal borehole (Ankaramy-1) which had reportedly encountered "hydrocarbon shows". Cores recovered from both locations indicate the presence of hydrocarbons and potentially good reservoir quality over multiple zones.

Early indications provide further evidence of at least three different source rocks working across the Block, in Triassic, Jurassic and Cretaceous zones. Further detailed laboratory analysis of the cores will be undertaken during Q1 2015 to confirm the nature and extent of the hydrocarbons.

Michael Wood, President and CEO commented:

"These are encouraging results indicating the presence of hydrocarbons over several zones, reaffirming the oil potential of Block 1101. The joint venture has been working closely together to define and develop the exploration program for Block 1101, and we are looking forward to working with Afren on the drilling of a large exploration prospect which is planned for 2015."

Are TAKEOVERS already on the way?

REPSOL has announced is buying Talisman of Canada today for $8.3 billions cash

BRENT price

rumours are usually good enough to get the lemmings active :-)

I love a lemming .

Look at SEY post - previous - now that is a take over / deal making play ....

Afren Plc (LON:AFR)‘s stock had its “speculative buy” rating reaffirmed by FirstEnergy Capital in a research note issued on Tuesday. They currently have a GBX 130 ($2.04) price target on the stock. FirstEnergy Capital’s target price suggests a potential upside of 295.26% from the stock’s previous close.

Look at those price targets for QPP. 130p if there is a bid , if not wait until oil is back up to 100 plus

10% up.

http://www.theguardian.com/business/2014/dec/16/russia-has-lost-economic-war-with-west-rouble-currency

Symbol Name PRICE TO SALES Industry MKT CAP(M)
1 RDSB Rds B 0.18 OIL & GAS PRODUCERS 49210.88
2 RDSA Rds A 0.28 OIL & GAS PRODUCERS 76833.73
3 BP. BP 0.30 OIL & GAS PRODUCERS 67836.20
4 AFR Afren 0.39 OIL & GAS PRODUCERS 387.87
5 ENQ Enquest 0.45 OIL & GAS PRODUCERS 263.82
6 SMDR Salamander 0.51 OIL & GAS PRODUCERS 148.97
7 TTA Total Ord 0.58 OIL & GAS PRODUCERS 92431.26
8 IAE Ithaca Energy 0.64 OIL & GAS PRODUCERS 160.07
9 FTO Fortune Oil 0.71 OIL & GAS PRODUCERS 165.57
10 PMO Premier Oil 0.84 OIL & GAS PRODUCERS 765.97
11 NOG Nostrum Oil&Gas 0.84 OIL & GAS PRODUCERS 748.78
12 EXI Exillon Energy 0.96 OIL & GAS PRODUCERS 186.55
13 COP Circle Oil 0.98 OIL & GAS PRODUCERS 55.17
14 FPM Faroe Petrol. 1.24 OIL & GAS PRODUCERS 160.87
15 TLW Tullow Oil 1.25 OIL & GAS PRODUCERS 3311.25
16 IGAS Igas Energy 1.32 OIL & GAS PRODUCERS 99.96
17 VGAS Volga Gas 1.70 OIL & GAS PRODUCERS 58.74
18 TPL Tethys 1.81 OIL & GAS PRODUCERS 40.37
19 PCI Petroceltic 1.91 OIL & GAS PRODUCERS 227.00
20 RRL Range Res. 2.33 OIL & GAS PRODUCERS 27.24
21 BG. BG Grp. 2.33 OIL & GAS PRODUCERS 26957.31
22 SIA Soco Intl. 2.33 OIL & GAS PRODUCERS 855.45

If anyone is interested, this is a list of oil producers with a market cap greater than 25m, with the lowest price/sales ratio at the top.

Interesting.

So Russia has 'blinked' and massively raised its bank rates by 6.5% to 17%, an unprecedented amount.

Any Russian company borrowing money in Russia will find business model repayment exceptionally difficult, and the inability to raise foreign currency due to Western Financial sanction over Ukraine. In a nutshell Russia's internal budget in dire straits, with the crash in the Rouble. This will hit Russia oil production and oil exports volumes.

Other non-Russian oil produces will look to make up slack in the oil delivery market, increasing their own production.

Low oil prices and marginal over supply will drive short to medium term Global economic growth and provide consumers with more disposable income for discretionary purchases of goods. - Short term pain for medium term growth benefits / jobs etc.

How will Russia deal with the headache of Rouble erosion?

DYOR

HAb

Russia has raised it rates to 17%