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

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.

Not a bad day blanche, a nice bounce from yesterday

Should get some drilling results soon from the Ofa Field

Check out the new website

Afren PLC
03 August 2007

Afren plc (AIM: AFR)

Dr Rilwanu Lukman appointment

London, 3 August, 2007 - Afren plc ('Afren' or 'the Company') announces that Dr
Rilwanu Lukman, KBE, Legion d'honneur, Founder and non-executive Chairman of
Afren has been appointed Honourary Advisor on Energy and Strategic Matters to
the President of Nigeria.

The Board of Afren announces that President Umaru Musa Yar'Adua, the newly
elected President of Nigeria, has approved the appointment of Dr Rilwanu Lukman
as his Honourary Advisor on Energy and Strategic Matters. The role is one of a
number of advisory appointments in other sectors of Government activities made
by the President, is an honourary role, and does not include a paid office.

Dr Lukman has previously served as the Nigerian Minister of Petroleum Resources,
Special Adviser to the Nigerian President for Oil and Gas, Nigerian Minister of
Foreign Affairs, Nigerian Minister of Mines, Secretary General of OPEC (6
years), President of OPEC (9 sessions), and Founder and Chairman of the African
Petroleum Producers Association.

As a Founder of Afren and current non-executive Chairman, Dr Lukman will
continue to drive the Company's vision to become the premier pan-African
independent exploration and production company, through partnering with
indigenous companies and governments and acquiring equity stakes in exploration
and development assets.

3 August 2007

Enquiries:

Afren plc +44 20 7182 1800
Osman Shahenshah Chief Executive
Evert Jan Mulder Chief Operating Officer
Galib Virani Investor Relations

Jefferies International Limited +44 20 7618 3500
Toby Hayward
Oliver Griffiths

Tristone Capital Limited +44 20 7399 2480
Simon Ashby-Rudd
Majid Shafiq

Pelham Public Relations +44 20 7743 6673
James Henderson
Alisdair Haythornthwaite



Background information

Afren Plc

Afren (
www.afren.com
) was founded in December 2004 by a management team
including Dr Rilwanu Lukman, (Chairman), Osman Shahenshah, (Chief Executive) and
Bert Cooper (Advisor to the Board), with the vision to become the premier pan
African independent Exploration and Production company. Afren's Chief Operating
Officer is Evert Jan Mulder, who was most recently Chief Operating Officer of
Addax Petroleum, Nigeria's largest independent oil producer.

Since its listing on the AIM market of the London Stock Exchange, Afren has
rapidly expanded its portfolio and the management team has delivered 11 assets
in the Joint Development Zone of Nigeria-Sao Tome and Principe, Nigeria,
Gabon, Angola and Congo Brazzaville. In addition, Afren has built an executive
and non-executive management and advisory team with broad and extensive
experience in the industry, both in West Africa and internationally; in
identifying and completing corporate expansion opportunities and in public
company financing. Afren also looks to leverage key relationships across the
region to gain preferential access to opportunities.

Afren will continue to add to its diversified portfolio of near term development
and high impact exploration, with the overall objective of creating substantial
shareholder value.

Current portfolio

Nigeria

Afren is partnered with indigenous companies on all four assets in Nigeria.
This is consistent with the strategy and commitment of partnering with
indigenous companies to target low cost development options that yield near-term
production.

Okoro Setu development - Two appraisal wells were successfully drilled in
Q4 2006 by Afren, the Technical Service Provider. A nine-month rig contract
is in place for the Adriatic VI, with development drilling due to commence
in Q4 2007. An FPSO has been secured, reserves certified by Netherland,
Sewell and Associates (2P of 32 mmbbl) and the Field Development Plan has
been approved by the Department of Petroleum Resources in Nigeria. First
oil is targeted in Q1 2008 and circa 15,000 -20,000 bopd of oil achieved by
mid 2008.
Ofa development - Discovered by Shell in 1970. Upon a successful well
test, production should be achieved within eight to nine months at up to
4,000 bopd.
Ogedeh development - Existing discovery made by Chevron in 1993 in an area
lying close to existing infrastructure. Various development options are
currently under review.

Eremor development - Initially discovered by Shell in 1978. Phase I of
the approved Field Development Plan is to re-enter and complete Eremor-1.


Angola Cabinda Block B

Heads of agreement have been signed for a 5 per cent. interest in Block B, a
high quality exploration license containing existing discoveries (32 wells
previously drilled without Seismic (4 wells testing light oil and 7 wells with
oil shows). A 2D seismic programme is planned, followed by a 5-well exploration
programme from 2008 onwards once Force Majeure is lifted.

Congo

The La Noumbi field (Afren: 14% interest) lies adjacent to the M'Boundi field
and contains a number of high impact exploration opportunities. A well will be
drilled on the Doungou prospect in August 2007.

Gabon

Afren has interests in Themis and Iris Marin (12.86%) and the Ibekelia Study
Area (20%), which offer low cost exploration upside. The Admiral prospect in
Themis Marin is due to be drilled in H2 2007.

Nigeria - Sao Tome Joint Development Zone

Afren's 4.41% interest in Block 1 of the JDZ offers exposure to a world class
exploration acreage and in March 2006 Chevron made the Obo-1 discovery which
contained 150 feet of net pay and proved a working hydrocarbon system in the
JDZ.




This information is provided by RNS
The company news service from the London Stock Exchange




http://www.fox-davies.com/Reports/Afren_Initiating_Coverage_August_2_2007.pdf

media comment, click HERE

Just to fetch everyone up to date a good read an article in Oil Barrel

08.08.2007
Afren Ploughs On With Its Development Projects In Nigeria And Gets High Marks For The Quality Of Its Management
In the plethora of press releases that come oilbarrel.coms way each day it would have been easy to overlook the one concerning a new appointment for Dr Rilwanu Lukman KBE, Legion dhonneur. Dr Lukman has been appointed Honourary Adviser on Energy and Strategic Matters by President Umaru Musa YarAdua, the newly elected President of Nigeria. This is hardly earth shattering news. Dr Lukman has been at the heart of the Nigerian oil industry for years; you would expect him to have an energy role in the new government.

Dr Lukman has previously served as the Nigerian Minister of Petroleum Resources, Special Adviser to the Nigerian President for Oil and Gas, Nigerian Minister of Foreign Affairs, Nigerian Minister of Mines, Secretary General of OPEC (6 years), President of OPEC (9 sessions), and founder and chairman of the African Producers Association. Phew, Nigerias Mr Oil, then.

What is germane to our little tale here, however, is that he is a founder and current non-executive chairman of Afren. Afren is a London AIM-listed company which focuses on Africa. Specifically it has four what you might call development assets, through PSAs in Nigeria, as well as some exploration acreage in the Congo, Angola, Gabon, and the Nigerian joint development zone (JDZ) with Sao Tome & Principe.

It is the development assets that are currently under scrutiny. These are old discoveries, usually onshore but also in very shallow water offshore Nigeria judged too small or immaterial for the large companies which found them. The condition for companies like Afren being able to exploit these fields is that they must have an indigenous partner under the countrys Marginal Field Programme. In 1996 a total of 116 proven but undeveloped fields were designated as marginal in other words despite having significant quantities of hydrocarbons, they were too small for the majors under the existing onshore fiscal regime. The fiscal terms for indigenous companies are far more attractive.

Afren has recently bagged a fourth development project under the marginal field scheme. In July Afren signed a financing and technical services agreement with local company Excel Exploration & Production for the development of the Eremor field in OML 46. The cost of entry is just under US$2 million and the cost to first oil is just under US$10 million with first production expected around mid 2008, making a low cost route to early cash flow. Excel was awarded the acreage in 2003.

The field was discovered by Shell in 1978 when the Eremor-1 well encountered five hydrocarbon-bearing zones. Between 1984 and 1990, three additional wells were drilled to appraise the areal extent of the accumulation and in 2005 the original discovery well was re-entered and tested, yielding 22-degree API oil and indicating the potential for flow rates of up to 2,000 barrels per day from the vertical well.

The field is covered by 3D seismic data and is estimated to hold up to 30 million barrels in the D3 reservoir, of which up to 10 million are reckoned to be recoverable. There could a further 30 million barrels in the shallower D1 reservoir.

The Eremor project is a nice addition to the portfolio, assuming the 2000 bpd idea is met. But it is the fourth and probably smallest development so far. Afren is targeting 15,000 bpd by mid 2008. This will be delivered mainly by the Okoro Setu fields in OML 112, but also from the Ofa project in OML 30 and the Ogedeh asset in an OML90. There were different discoveries in these fields and there are now various local partners for Afren.

One broker Fox Davies Capital has assigned a risked net asset value of 360 million or 97p a share. There is some cash and the exploration assets are in at 115 million. The development assets are assessed at 66p a share.

But, of course, this is Nigeria and nothing there is without risk. A number of western companies have been burnt on similar projects in Nigeria due to partner disputes or financing issues. Irish exploration company Tuskar Resources went into liquidation after it fell foul of its indigenous partner Cavendish Petroleum in the development of the Obe field. And Equator Exploration ran into difficulties when its local partner, Peak Petroleum, failed to meet cash calls for the development of the Bilabri field.

The key to making these projects work is the quality of the indigenous partner, and the ability of management to deliver, including connections with Nigerian officialdom. Fox Davies awarded another 19p a share on its assets valuation, moving to 1.16 a share. And, of course, there is always Dr Lukman to help out in dealing with the local partners.
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Kieth, Read this earlier but thanks for posting. Gr8t reading as always with afren.
Would like to see us get out of this little trading range weve got into. IMHO i think if we can break out over 90p then i can only see it going further north.

Kieth, Off thread but dont know if you hold but iec looks like it is finally going to recover, and imo is a good time to get in. Hopefully back to 15.00 plus.

No i don't hold iec blanche, to be honest am fully loaded up on the one's i have ,,, waiting as ever
Thanks anyway, catch you later