< "> 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

HTTP://investing.businessweek.com/research/markets/news/article.asp?docKey=600-201501120947KRTRIB__BUSNEWS_17881_25851-1

US analysts: oil prices to see moderate recovery

Jan. 12--Analysts of the US JP Morgan bank expect moderate recovery of oil prices with Brent to average $82 per barrel and WTI to average $77.25 per barrel.

"Oil markets have continued to witness dramatic price declines over the year-end period and into early 2015," analysts said in a report obtained by Trend......

JP Morgan's analysts expect Brent price to amount to $75 per barrel in the first quarter of 2015, and then to reach to $80 in the second quarter, $85 in the third quarter and $88 per barrel in the fourth quarter of the year.

WTI is forecasted to amount to $72 per barrel in the first quarter, $76 in the second quarter, $80 in the third quarter and $81 per barrel in the fourth quarter of 2015.

In 2016, analysts forecast average price for Brent at $87.75 per barrel with the highest level of $90 per barrel in the third quarter. WTI average price is predicted at $80.75 per barrel with the highest price of $83 per barrel in the third quarter of 2016.

new low and chart not looking good
But a story on the Times tonight saying the bid is on the way

you're right insofar as Seplat have to put in a bid a bid by 19th, but that does notr mean that will do so, or that it will even be 50p if they do

whether or not Sapetro will indeed materialise as another bidder remains to be seen

however, this latest revelation scarcely makes AFR more desirable and also raises questions as to what other horrors are being hidden

also, what are the extraction costs for Ebok?

I fear that 15p looks like on the cards....who would have imagined such a dive ?...

Off another 8% and still no second bid.

glad i bit the bullet when i did, and in fact i'm run a similar sized short from 26.12 which is clawing back a fraction of the loss incurred

A share disaster.

you'd know about that mitzy.,.

Yep.

for myself, at least i'm clawing a small % back

Sh*te today......all will be back tomorrow.,.

Freefall..minus 15%.

sorry for you guys, but i'm :-) having taken the hit a couple of days back and now short

Time to climb aboard at.....14/15p? Looks to be about the 10 year low, though that was post 2008 melt down.

Anybody any idea if Swaps and TRP's are included in the days stock traded figures?
Seems that Citigroup (on behalf of SEPLAT) and Merrill Lynch are trading heavily (in millions) but none of them actually hold stock.

[TRP's: A swap agreement in which one party makes payments based on a set rate, either fixed or variable, while the other party makes payments based on the return of an underlying asset, which includes both the income it generates and any capital gains. In total return swaps, the underlying asset, referred to as the reference asset, is usually an equity index, loans, or bonds. This is owned by the party receiving the set rate payment.

Total return swaps allow the party receiving the total return to gain exposure and benefit from a reference asset without actually having to own it. These swaps are popular with hedge funds because they get the benefit of a large exposure with a minimal cash outlay.]

Doubt you will see those levels Harrycat but you never know I just taken a little punt on it see more upside then down

Look quick,.... it's gone up to 23p :))

Seplat secures US$1 billion debt re-financing and provides operational update

Lagos and London, 15 January2015: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, today announces that it has successfully refinanced its existing debt facilities with a new US$700 million seven year secured term facility and US$300 million three year secured revolving credit facility. The seven year facility also includes an option for the Company to upsize the facility by up to an additional US$700 million for qualifying acquisition opportunities. The Company also provides an update on its operations where it has delivered on full year 2014 guidance.

"We are pleased to have extended our banking relationships with several existing and new lenders, both Nigerian and international," said Austin Avuru, Seplat's Chief Executive Officer. "This successful re-financing, which commenced several months ago, significantly enhances our already robust capital structure and underscores the quality of our asset base," he added.

The US$700 million seven year secured term facility has been closed with a consortium of banks in Nigeria comprising First Bank of Nigeria Limited, Stanbic IBTC Bank Plc, United Bank for Africa Plc and Zenith Bank Plc, is repayable quarterly from end June 2015 and has a margin of LIBOR +8.75% per annum. The US$300 million three year revolving credit facility has been closed with a consortium of eight international banks comprising Bank of America Merrill Lynch, Citibank, JP Morgan Limited, Natixis, Nedbank Limited, Rand Merchant Bank, Standard Bank and Standard Chartered Bank, has a quarterly reduction schedule from end December 2015 and has a margin of LIBOR +6.00% per annum. Proceeds from draw down on these new facilities has been used to repay the Company's existing debt facilities (totalling US$552 million), and will also be used to fund new business and development opportunities and for general corporate purposes.

Took a punt @ 22.65p

As the OIL price spiked late yesterday and after profit taking this morning it went up again gave me a reason to punt again.

I see now the above post looks positive for AFR

Hmmmm.... quite risky investment as oil is not set to see a sustained rise at mo, SEPLAT may have secured finance, but it doesn't follow that they will make an offer for AFR as other companies may be more attractive. Investing for a t/o is quite risky as if it should fail to materialise, AFR sp will be hit quite hard. Decisions....decisions...!
Also it's more than possible that AFR will reject an opportunistic approach from SEPLAT.