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

Sorry Kiv .... l was also talking about EEL @183p on an e-mail to a buddy; and simply confused the figures ..Have corrected to 39p ,,,,,,,,Regards @+ J

Barclays risk grades AFR 240, EEL 275. @J+ , Bought AFR this morning @ 60.5
Why the JKX share fall,?

Having been in jkx since the 30,s and big time since the 60p level i thought i understood the little idiosyncracies & nuances of JKX . But i never believed a variable as simple as the rotary count compounded by workovers would affect ALL on and offshore oilies .The cost of running a rig has risen by almost 100% in a year ( $57,000 p/d on dry land to $107,000 pd offshore. "Big oil" is prepared to pay but there is simply a dearth upstream of not only drilling platforms, FPV s but also no spare capacity downstream reg. refineries and petrochemical infrasructure. . lts that simple . From upstream tp downstream China , lndia,Russia and the Americas are all busily booking every buying or manufacturing all petrochemical infrastucture. .Many are not taking bookings as the wait is so uncertain and companies opting to extend use of a rig Also New Year Eve blackout illustrate how dependant the politics of Ukraine are changing and it looks like Putins poodle will be the new Prez who wants forign companies to be paid in the Ukranian currency ...and get domestic prices ,,,,,not that we pay in the west .,,,,ln saying that all oilies are taking a hammering at the moment .

Having been in jkx since the 30,s and big time since the 60p level i thought i understood the little idiosyncracies & nuances of JKX . But i never believed a variable as simple as the rotary count compounded by workovers would affect ALL on and offshore oilies .The cost of running a rig has risen by almost 100% in a year ( $57,000 p/d on dry land to $107,000 pd offshore. "Big oil" is prepared to pay but there is simply a dearth upstream of not only drilling platforms, FPV s but also no spare capacity downstream reg. refineries and petrochemical infrasructure. . lts that simple . From upstream tp downstream China , lndia,Russia and the Americas are all busily booking every buying or manufacturing all petrochemical infrastructure . All of which will inevitably turn into a bidding war .......or worse -a resource war .lt wont be the first in modern times -eg .. The UK with regard to the Falklands . Also New Year Eve blackout illustrate how dependant the politics of Ukraine are changing and it looks like Putins poodle will be the new Prez who wants foreign companies to be paid in the Ukranian currency ...and get domestic prices for both its gas and oil . ,,,,,not the massive premiums we pay in the west . l think much of the JKX s/p initially had western style prices factored into it . That is temporary But you cant drill a well without the appropriate rigs . And that is not temporary ....Oil @ $80-90 by winter . . ...@+

Usa navy announced on "Voice of America " that it was deploying yet another US aircarrier battle group supported by several frigates to the Gulf of Guinea off the west african coast to engage in joint exercises with Sao Tome and Principe . ...This follows last years exercises after both these tiny African islands expirienced USA backed coups ,,,,,,And the price the new regime has paid ? .......lts oil, of course . And to keep a volatile yet UN buddy Nigeria at bay. Buddys in so far as to persuade Nigeria to provide the vast % of peacekeeping forces in Africa. ...Many geolists believe that while it is no Ghawar this region certainly could match the North Sea ,,,,Now thats some gas !! Little wonder the USA is flexing its muscles in this region to protect thier interests ...After examining thier curent licenses and foraging through as much hard data i could get my hands on coupled with the number crunching of USA protection EEL are well undervalued !!! lt wont match Cairns . lt will dwarf it ...... The numbers are juste to big to sound credible at this stage . ... ...".Nothing occurs at random, but everything for a reason and by necessity." Leucippus wrote 5000 years ago ...and how right he has proven to be ,,,,,@+ ,,J

Sounds good J , ZOX had a good run up today.

Afren PLC
23 March 2006

AFREN plc ('the Company')

Shareholding in the Company


The Company was notified on 22 March 2006 by FMR Corp and its direct and
indirect subsidiaries and Fidelity International Limited and its direct and
indirect subsidiaries, both being non-beneficial holders, that they hold
14,735,877 Ordinary Shares of 1p each ('Ordinary Shares') in the Company,
representing 7.78% of the total issued share capital of the Company.



The notifiable interests also comprise the notifiable interest of Mr Edward C
Johnson 3d

Afren PLC
24 March 2006

AFREN PLC

Notification of Date of Preliminary 2005 Results

Afren plc (AIM:AFR), the oil and gas company focused on establishing itself as
the premier pan-African independent exploration and production company,
announces that it intends to release preliminary results for the year ended 31
December 2005 on Thursday 30 March 2006.

24 March 2006

hello tfc & aldwickk
could it be that afren announces drilling new's too it would be around this time since they said on 23 Jan the Obo-1 well should be completed in approx 60 day's
Keith

Chevron and Exxon strike it big in Africa
By Richard Orange
26 March 2006


US giants Chevron and Exxon Mobil have made an African oil discovery that could hold more than a billion barrels worth of oil and gas.

The find promises to be one of the largest finds this year, potentially opening up a new province off the shore of the West African island state of S Tomand Principe.

A source who has seen the results told The Business that the Obo-1 well, completed on 15 March, had found oil and gas in significant qualities. He said: It is an encouraging result. Everyone is pleased.

Geological studies of the prospect suggest it could hold even more oil and gas than the Akpo field in the Nigerian waters to the north, which is thought to have recoverable reserves of more than a billion barrels.

The source said Chevron and Exxon would meet on Tuesday to plan their next moves. He said Chevron, the operator of the field, had not yet decided when it would drill more wells to prove the exact size of the recovery.

There is a severe shortage of oil rigs off West Africa, where the field has been discovered, making it extremely expensive to drill further at short notice.

The companies would not be able to confirm the full extent of the discovery until they had drilled more wells. It took four wells before the full extent of the Akpo field had been proven.

Another source said the consortium was still examining the data and was unlikely to agree on how to release the result until April.

Chevron is the operator of the field with a 51% stake, Exxon holds 40%, with an alliance of Nigerian oil companies Dang-ote Energy Equity Resources and Afren holding the remaining 9%.

The discovery will turn S Tominto the oil industrys newest resource-holder. The 160,000 inhabitants of the tiny former Portuguese colony could see their lives transformed in a way that has sadly eluded the inhabitants of the far more populous Niger Delta to the North so long as S Tom rulers manage to prevent a corrupt few siphoning off most profits.

Campaigners for transparency in oil producing countries were optimistic about S Tomafter the country put into place a petroleum law modelled on that of Norway, with transparency over oil revenues and an oil fund for future generations

hello Aldwickk
This is excellent new's it looks like a major find. We shall see what happens tomorrow should be interesting
thanks Keith

Scotland's Sunday Herald:
'Reserves under the Gulf of Guinea may yet prove to be bigger than anything yet discovered......
Meanwhile, a Chevron well in the Nigeria-Sao Tome and Principe Joint Development Zone and articles in major European newspapers are hinting at one of history's biggest oil finds - perhaps the biggest - a hundred miles offshore in areas rebels can't reach.'

Help.

How can the buy price be lower than the sell price?

KD.

When it is not a normal trade.

.Most instutions have taken quite heady positions including 14.735 million shares bought and held by FMR Corp and Fidelity recently. , ln fact only a few days ago , FMR made it known to the LSE it had acquired & held 11.56 million stock on behalf of clients .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ln addition to this UBS hold a position of Lansdowne took a position of 11.65 million( to which they added several million in Jan 2006 taking their holding to a tad shy of 20 million . ......,,,,,,,,Thes are a plethora of principal holders who while not obliged to notify the S/E notification of 3% do happen to list then in their respective holdings / accounts etc etc ,,,,At last we have some company Roly . ..l think the market is only juste begining to to recognise its potential Of AFR ! ........Was 20p up today before falling back to a rise of 9.25 rise....... ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Following the debacle at Shell and its criminal declaration of erroneous reserves which were followed by NO LESS than 10 downward revisions , oil companies tend to be more careful now in c1 /2 /3/ assayal . . So much so that many assesments barely take into consideration the hassle of number crunching with C3 assesments. .. .Looking down from one of Total /Elf s amazing FPV's 200km off the coast of Nigeria -the size of ten parc des princes - you would never think these was a shortage of oil Never. lt seems engrained in everything . . . . Ten wells on The BP operated block 32 is backed by a 100% success rate . Results are much the same for all members of " BIg Oil " This well appears in surface area seems very small but when visualized by sophisticated graphix imagery/ software the surface area employed asto to show the presense of hydrocarbons embedded as low as 5km ... ; and in this case its its drillstrings of over 5km still show signs of hydrocarbon ( prob gas ) . But these are early days and enormous revenues are expected . . Sao Tome expected less than 280 million dollars for the 9 blocks but bids totalled $550 million were bid, and the block on JDZ 1 is alone expected to contain between $5 and 8 billion - ........The west coast of Africa are not like fields as is the Noth sea or Gulf of Mexico. but morelike Saudi wells which whlie relatively isolated are very VERY very DEEP huge area of oils with perhaps a few dozen offshoots that may demand in "Big Oil " inc BP s case offshore exporation so as to make it possible to get into the main resavoir . . From Morroco in the North to subsaharran dangerous Angola in the south oil is to be found . This has led experts to say -This is perhaps a new North sea . Certainly no Ghawar or even approaching the top ten "gushers " but wildcatters are a thing of the past so most wells are drilled with a degree of success iin mind. .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Look at Gwahar which has spewed out over 65 billion barrels since its spudding in the early 1930 s, and still throws up 1.8 bln barrels p/a .( yet it expounds more energy to secure the oil } !! Well we need to dream up 3 of them to satisfy anticipated demand by 2010. Considering we have found only one "gusher" in the past ten years the odds are with the pessamist .( we found 14 in the 8o's At one time only one sixth of the world had LONG been dependant on oil . But now ? Even 2 memebers of OPEC can even meet quotas let alone increase them . We have NO spare capacity in infrstructure - both upstream and downstream . And what of China ? lndia ? Russia and thier insatiable appetites ? .... . lts quite ironic we are all drilling in the 21st century the same delta and offshore wells we abanondoned in the 1950,s . . Of course we could never have gone as deep as today . .....But its rather ironic , dont you think, to put your energy chrisis into exploiting yet another place we know to be both volatile and so wild and remote that in parts of Nigeria rebels have simply fractured pipeline and set up mini piecemeal refineries to flog the crude on the black market ....Quite insane that the army turn a blind eye .,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, So the USA has decided it wont be repeated on the Chevron /Esso acreage with every other player in "Big Oil " involved in the gulf of guinea projects . . The Navy via "Voice of America" recently announced that yet another battle group of aircraft carriers protected by over 20 frigates and destroyers and subs ( at latest count ) are involved in battle manouvres with Sao Tome / Principe to protect any oil found ,lts simple :- Nigeria want Cameroon oil with ilyas d sao tome and Principe as logistic bases as well as an abundance of oil . And Sao tome quite simply want both protection from Nigeria; and a number of hostile regimes who talk from one songsheet but dance to quite a different tune in public . ,So USA gravitates towards USA rewarding them with the best blocks going to Exxon / Mobil &Chevron .( so long as they matched the best bidder ? ) Even on zones were only a few bids were expected had several bids of up to three and four times what Goldman Sachs even expected ,,,with some zones having up to 2o or more bids .... . This follows last years successful manouvres; and under what is called the " Carter doctrine " The USA has the powers to protect gas/oil with whatever force deemed neccassary to protect this essential commodity . You may rememeber that both these tiny African nations expirienced peaceful coup recently backed by the USA But USA decided to share it with Nigeria simply because they act as "peacekeepers" in many UN African affairs . Troops that Bush must keep there so as peacekeepers for without them a large swathe of Central west Africa would sink into utter anarchy.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, lt may sound a most dangerous place to indulge in oil exploration but when your wells are between 50 an 200 km deep into the Atlantic ;and the USA have weaponry that is accurate to a single metre ,,,.Thats there to stay until every droplet has been removed .,,,,,,,,,,But at least the shinnagins @ PET , RPT , NLM , companies are reporting as news becomes available ..... Remember PET ? and that long painful long wait which resulted in nothing ..Little did investors know that BP had beein invited in to overseee repair infrastructure and the lured in by offering of highly prospective licenses left . Attractive news huh ?? You gotta be joking !! Juste as PET board was telling holders to be" patient " BP had already WALKED AWAY !!! but the news didnt enter the public domain . That news was known two full months before PET conceeded it had been unsuccessful; but the initial leap from 140.p/s from 46p spelt sell . ALWAYS play the percentages until you feel you are anticipating the obvious . PET was a disgrace .l did admit this to one man via e-mail on these boards . Mamely - to sell at that 140 level . And he had had beat me to it lol ,,loll ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, . .......Both my oilies in Africa --AFR and EEL ( both with a very similar portfolio have issued excellent reports reg their drilling rights and expos / AFR is headed by Ex head of Global Expo, and ex head of BP in the exploration of Western Africa,- After 20 years in a very patriarchal industry where most information is by word of mouth , and on a who needs to know basis, Nick Johnstone and his connections are what initially drew me to the stock . lndeed he must be quite astonishing to negotiate a company making project of this size into the portfolio of AFR -- 4.5% sounds a little to good . ,but to get a mere sniff at a 4.5 % of a project of this size is an accomplishment in itself . We are talking in tens of billions of dollars That equates to an amazing 120 mbpoe for AFR ..ln the meantime so as to attain early income generation AFR have entered a j/v in the devopment of the Ogdeh field Also eqiupped with the specialist , horses mouth , knowledge Nick will bring to Afren after years in Nigeria knows he will be aware of which wells are tired as far as the majors are concerned yet cost effective to AFR ..Morever AFR signed an agreement to drill their own well Themis / Marin , and bought 10% of the lbekelia project from Ascent res which is adjacent to Olowi marin field with C1 reserves of 180 bbloe Africa . .....................................................................................................................................................................................Talking to a guy i know @ Chevron ( Nigeria ) with 27 years at "on hands" rig level from 15 years with BP and all its riches- via a 4 years sabbatical with Woods Mckenzie- and now walking for Total off the coast of the Gabon .....who thinks Chevron (the operator ) has found a potential "gusher " yet enjoy the anonomity until the politics of the situation are diluted .. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,This RNS talk of one to one and a half bbloe is utter bollocks ; and a clever way to keep the helm steady ====!.. . . He is ENGLISH yet he still calls the North sea and the manner it was mined the "beggars banquet" .lt was mined with what is called bottle brush drilling with the use of hi concentration of water injection which was scandalous . lt was an absolute scandal; and lost up to 20% of gas lost forever. l remember before he became the lEA chief economist, Faith Barr ,,,,aww im knackered . l have NEVER actually opened a debate reg. any share but of all the shares i see AFR is the only one i have even contemplated ............The downside is minimal ; and the upside is tremendous . ..Well worth a good look over ...... lts juste gone 8 in the morning here ....and off out to lie on the beach ..34 degrees already .- reaches 41 even at this time of day in Late march /early April . .............a'bientot , faires attention et b. chance .....bien amicalment .......@+ J

,,,but i hold in a plethora of juniour oiles and miners ...... l only go long/ short on that genre.BP ( for the huge return to holders ) EEL ,CDL, AFR , JKX ,Bur and VOG and CEY, GFM , KMR , SER ,Zox , CSM , HIF, and afew others ,,,,,,,,,,,,but trade mostly via CFDs and that is why most of my postings are are on the traders thread But in those i mentioned i may alter weightings but i never churn the portfolio .......Calcs cant be right ; and simply because they dont sound right .......... i put a value of a MININUM true worth of in excess of 200p on AFR as an entity in its own right . ,,,, a/ b ...J ,,,

The Directors & Management are second to none. If you put the best oil men together in the one of the most prolific oil basins in the world you then have one of the best investments you will ever have.

You mention 200p above.....you are exactly right 'MINIMUM'....The market cap for Afren over the next couple of years in my view will be in Billions & not Millions.

gpmh1

Afren PLC
29 March 2006

29th March 2006



Afren plc

('Afren' or 'the Company')





Nigerian Rig Contract and Appointment of Drilling Manager



Afren (AIM: AFR), an independent oil and gas company focused on establishing
itself as the leading pan-African exploration and production company, is pleased
to announce that its Nigerian subsidiary Afren Energy Resources ('AER') has
signed a drilling contract to contract the Seadrill-7 Jack-up drilling unit for
two wells offshore Nigeria in 2006. The Company also announces the appointment
of a new Drilling Manager.



Nigerian Rig Contract



Afren announces that AER has signed a drilling contract for two wells offshore
Nigeria, with Ashbourne Marine Company Ltd, a subsidiary of Seadrill Ltd. The
first well is expected to begin operations early in the third quarter of 2006.
The Seadrill-7 is currently on location in Nigeria for another operator.



Afren intends to use the Seadrill-7 rig to further appraise its proven
undeveloped fields in Oil Mining License 90 ('OML 90'). The undeveloped fields
in OML 90 secured by Afren in the second half of 2005 are located in the shallow
waters of the western Niger Delta. Oil and gas was discovered in a number of
zones by Chevron in 1993, but were not tested. The fields are conventional
Niger delta structures, at moderate depths and are likely to be low cost
developments as they are close to existing infrastructure. The first well in
OML 90 will appraise one of the existing discoveries and will be tested to
confirm fluid type and reservoir performance.



Securing the drilling contracts marks an important step in the execution of
Afren's strategy towards achieving near term development and production.



Appointment of Drilling Manager



Afren is also delighted to announce the appointment of Mr. Graham Ross as
Drilling Manager for Afren. Mr Ross is a highly experienced drilling manager,
and has worked in the oil and gas industry for over 26 years.



Prior to his appointment with Afren, Mr Ross served as Drilling Manager for
Premier Oil, where he was responsible for drilling operations in Guinea Bissau
and Gabon, as well as the UK North Sea. Before that, he served as Group Drilling
Manager for Enterprise Oil, where he was responsible for drilling exploration
and development wells in Europe, Asia, South America and the Middle East.



Brian O'Cathain, Chief Executive of Afren commented:



'We are pleased to have secured a drilling rig in the current difficult
contracting environment. These two wells will help us add value by proving up
reserves and further delineating the proven undeveloped fields of OML 90. These
are the first steps towards early production in 2007. The Company also continues
to pursue other opportunities in the region and will be able to provide an
update in due course.



We are also delighted to have appointed a Drilling Manager of the calibre of
Graham Ross. His significant operating experience will be invaluable to Afren as
we progress to operate a number of developments in the coming year.'