< "> 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

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.

OIL price volatile but is giving signs so far that maybe the bottom has been reached for the moment being

--------------------------------Intraday ------------------------------------------------------------- 3 days --------------------

I can't see AFR being taken out for anything less than 100p....though the two things that bothers me are the price of crude continuing to drop and Afren's level of debt.....if these can be dealt with then the sp will rocket back up...

pipedream?

in auction.,.

my buy at 27p looking better now.......... :)

any bid will be way under a £1 if at all

How did perform today

AFR 28.76 + 7.02p or 32.29%

Some very good performance on the last few minutes of the day, earlier on there was some large buys ( closing shorts also )

did the shorters cut their losses?
or is all "pipedream" of going lower from now on

I'll have a look at mitzy's account.........

Looking good on my punt today

Place your bet's gentlemen please

Should see uptrend continue 35 - 40p ?

Some kind of bidding war wouldn't hurt .

from FT tonight ....

AFR - African explorer Afren rallied 32.3 per cent to 28.8p after Seplat Petroleum, its potential bidder, announced a $1bn debt refinancing including $700m to fund acquisitions.

Under Takeover Panel rules, Seplat has a deadline of Monday to formalise its Afren offer though it is widely expected to request an extension. Afren shares have also been helped by continued rumours that a consortium linked to one of Afren’s founders has been looking at making a counter offer.

rumours point to directors wanting 100p + for the stock

Is important that the OIL price recovers a bit at least to get 100p
One help could be that the Dollar is overvalued and Bank of America could ask to devalued the currency, helping oil prices and precious metals prices on the process

Time to dive in then.....

Fill your boots rf!!! Looks like they are trying to encourage buyers.

Yes Harrycat......like in a western....frankly this should be above 40p.....