Amities . l have been discreetly buying this stock since it was 39p . And the more i learn the bolder are the positions i take . .....Floated in Dec 2004 it was oversubscribed and before costs the required $15 million was raised. At the helm is ex BP head of Global exploration and Resavoir management . Furthermore a success story at Global Expo . Now Nick Johnstone wants to set up on his own . And after speaking to him l am not at all surprised . He is like a "Who s Who " of the hydrocarbon world ...He has ALL the prerequisites for success so why work for some other lackey ! .. namely connections from his ertwhistle employers . He has assembled a first class management team from ex colleauges at BP ; and is his business model is simple . AFR farms in on "Big Oils " inception upstream ; and with its scale of economy it works closely with "Big oils" fields on the look out for excellent workovers oppertunities .... Already lt has via a complicated j/v a percentage of the Sao Tome and Principe acreage -Located between the oil rich waters of Nigeria and those of Sao Tome and operated by Texaco / Chevron and Esso; and believed by many to be the new North sea . . 3D Seismic testing and magnetic graphic imagery and satellite imaging has located a labyrinth of channels leading to a main resavoir which is believed to14-15 mmbbls of oil and which would leave AFR with its share of 120/140 million barrels for NO cash outlay .To ensure early cash generation Afren has entered into a production sharing agreement in the developed Ogedeh field { adjacent to the BP operated Olowi marin field which is believed to yield 180 mmbbloe. Furthernore AFR has agreed to drill the lbekelia project for Ascent resources which is expected to produce 2,500 b/pdoe to satisfy AFR percentile share ,ln addition it is a believed resouce of several years . .. , .Not a bad start for a company with little more than six months in the making . ....and well worthy of investigation !! .....@+ J

Pinced off another bb. Hope ok JB. Interesting read UWG to provide a CoSMOS platform for Afrens Okoro field development
UWG Ltd, an Acteon company, has been awarded a $5.5-million contract by Afren Energy Resources Limited (Afren) to provide a conductor-supported minimum offshore structure (CoSMOS) for the development of the Okoro field, offshore Nigeria. The scope of work, which is being undertaken on a lump-sum basis, includes the design, procurement, construction and installation (EPCI) of the platform, including the topside processing facilities. Fabrication has begun at Compact Manifold and Engineering Services (CMES) yard in Lagos, Nigeria. Installation, using a jack-up rig, is planned for September 2007.
Alan Hunt, asset manager, Afren, said, UWGs CoSMOS concept was selected over other options for Okoro on the basis of its short lead time and because it offered the lowest price. Overall, it was the best solution for our fast-track field development. The nine-slot wellhead platform, which will be situated in 14 m of water, will have gas lift and water injection facilities. Product will be exported to a nearby floating, production, storage and offloading facility.
CoSMOS platforms are unusual in that the topsides facilities are supported on the well conductors hence, there is no need for a separate steel jacket. They are primarily designed for installation from jack-up rigs, although using a lift barge is also possible. UWG's first conductor-supported platform, a compact five-slot structure, was installed in 17 m of water in the Morsa West field offshore Angola in late 2005.

No sorry blanche am not in vog, am hoping one or two of my other holdings may come good to top up here .

Take comfort some big players in here with us i can only think at this time the m/ms are trying to get cheap shares for the bigger holders ready for the next push.

Take care for now good luck if you go back into vog, will keep you posted about any news

Thanks blanche for that information

I jumped the gun with the drill rig, it's going to Garbon first (sterling energy ) but the good new's is we have an interest in these block's

So just keep an eye out on sterling on how well things are doing

Kieth i brought into vog on friday. I think there going to do a RPT OR NOP of which i hold both 60p & 53p purchases. (Sorry of thread).

Anybody know if we're expecting any updates soon? Big volume today.

I don't know chad, drilling starting later this year on the Okoro Setu development but not sure about Ofa Field

Sorry am not much help

I think from the last post blanche we have had a 20% rise not bad eh

During the second half of this year lots of news to come, this is looking good

Afren PLC
18 July 2007

Afren plc (AIM: AFR)



Afren signs an agreement for participation in the development of the Eremor
Field



London, 18 July, 2007 - Afren plc ('Afren' or 'the Company') announces that it
has entered into a Financing and Technical Services Agreement with Excel
Exploration & Production Limited ('Excel') for the development of the Eremor
Field in Nigeria.



The Board of Afren is delighted to announce that it has entered into an
agreement with Excel, an established indigenous Oil & Gas company, to jointly
develop the Eremor Field ('Eremor'), an undeveloped oil field in OML 46, located
in shallow water off-shore Nigeria.



Excel was awarded a 100 per cent. interest and operatorship of Eremor
under the Federal Government of Nigeria's Marginal Field Programme.

The field is covered by 3D seismic data and is estimated to contain in
place volumes of up to 30 million barrels in the D3.0 reservoir, with a
similar potential upside in the shallower D1.0 reservoir. Recoverable
reserves are estimated at up to 10 million barrels from the D3.0 reservoir.
Eremor is located close to existing infrastructure and within 12
kilometres of a number of Shell producing fields.



The field was initially discovered by Shell in 1978 (Eremor-1), and encountered
five hydrocarbon bearing zones:



Three additional wells were drilled to appraise the areal extent of the
accumulation between 1984 and 1990.
The Eremor-1 well was re-entered in 2005 and a short production well test
performed on the D3.0 interval.
Good oil samples were recovered of a low Gas to Oil Ratio, 22 degree API
crude. Analysis of the test data indicates that flow rates of up to 2,000
bopd are achievable from the vertical well.
Eremor-1 is currently suspended and suitable for re-completion.



Phase-1 of the Field Development Plan includes completion of the existing well
and construction of a 7-kilometre oil evacuation line to the nearest flow
station. The Field Development Plan and Environmental Impact Assessment have
been approved and development work will commence in the near term.



The agreement signed between Afren and Excel defines the commercial terms under
which Afren will participate with Excel in the development of Eremor. Under the
agreement, Afren will be responsible for financing Phase-1 of the Field
Development Plan, and will initially recover the investment from 90 per cent. of
net field revenues. Following cost recovery, Afren and Excel will equally share
production revenue and costs.



Osman Shahenshah, Chief Executive of Afren, commented:

'I am delighted to announce Afren's fourth partnership with a well established
indigenous company in Nigeria, which underpins Afren's commitment and strong
competitive position to develop relatively low risk fields with significant near
term upside that provide early cash flow and add to our growing reserve base.
This follows the recent announcement of a Farm-In Agreement with Independent
Energy for participation in the Ofa Field and takes Afren's portfolio to 11
assets in 5 Countries, achieved in just over 2 years, offering a combination of
both on-shore and off-shore near-term development and high impact exploration
opportunities, with 15,000 to 20,000 barrels of oil per day from the existing
portfolio by mid-2008. '



18 July 2007

Kieth, Ive been away for a few days and this is my first look today. Who is this company trading at 76p, I better wash my eyes out is it Afren. LOL

Great news this morning, Things just get better and better for this company. Estimated reserves growing. Got to push now onto that 1 level now surely, and then some!

blanche i believe we have a gem here, this is building up to be a major player exciting times ahead for us

Kieth ,Next decent day in the markets we should see a good spike up, Maybe another 10%. Cant understand why more people arent jumping on this gravy train, is it only you blowing the horn and me stoking the engine.I think this is a no brainer!
Time for a botttle of plonk.

Yes blanche i started buying last year and not sold any, when the company starts to produce then we will start to move very quickly

It would not surprise me if the production targets got increased soon, who knows in a couple of years we could be producing 50,000bpd


The vision is to become the leading pan African independent Exploration and Production company

With compliments from jack

Picking out the highlights

Eremor is Afren's fourth partnership with an indigenous company and targeting assets with low cost development options and near-term production.

Minimum entry cost and development costs recovered through early production revenue.

Low development cost tie-back to nearby infrastructure, circa US$9mm capex to first oil.

In-place volumes up to 30 million barrels of oil from one of five hydrocarbon zones.

Upside: potential to add additional volumes from remaining four zones, particularly from D1.0 shallower zone.

Early cash flow: upon a successful re-completion of existing well, production could be achieved within six months.

In addition we have the up coming news-flow:

Results of well test on Ofa. (next 3 weeks)

High impact exploration well on Doungou prospect (50-75mmbbl), La Noumbi, Congo in August.

Exploration well on Admiral prospect (10-25mmbbl), Themis Marin, Gabon in October.

Development drilling on Okoro in Q4.

First oil early 2008 and 15,000 20,000 bopd by mid 2008.

Hopefully this is another Addax in the making and think the recent sp rise is a result of institutional interest and not simply todays RNS.

One very happy holder.

Regards, JB

comment, click HERE

Kieth, Hope theres a little pattern forming here, down during the day then a nice little tick up at the end. Iam starting to get dizzy again at these hieghts. Think i need some wine.

blanche yes if we can stay round about this level ready for the next move up it would be good
You will have to save the best wine for last, the journey is only just beginning am looking forward to a bright future

No Blanche you're are not the only ones, busy stoking EME at the moment. Yes i
believe we have a real gem here,have held for well over a year (patiently)and topped up since. We i believe, have one hell of board of directors who are quitely building a top oil/gas company.
cyril

Good day blanche, a treat for me i think a couple of drinks

All most a record high, not be long though, onwards and upwards

A pot of gold awaits in 6 months to a years time for us

Kieth, The only blue share in a sea of red. Come on Afren you beauty.