< "> 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

After hours RNS re share dilution .

not quite true ....

via Reuters
Statement regarding recent press speculation
Continues to be in discussions with Seplat Petroleum Development Company Plc regarding a possible combination with Afren
Is also reviewing its cost base and capital expenditure plans for 2015
Is also seeking a deferral of a $50m amortisation payment due at end of January 2015

============

Statement regarding recent press speculation

Afren plc ("Afren" or the "Company") notes the recent press speculation
regarding a possible financial restructuring. The Company confirms it has
been reviewing with its advisors its capital structure, liquidity and funding
requirements. As part of that process the Company is in discussions with its
lenders regarding amendments to its existing facilities, in addition to
seeking a deferral of a $50m amortisation payment due at the end of January
2015. Given the rapid decline in the oil price the Company is also reviewing
its cost base and capital expenditure plans for 2015.

Afren continues to be in discussions with SEPLAT Petroleum Development Company
plc ("Seplat") regarding a possible combination with Afren.

There can be no certainty that an offer will be made or as to the terms of any
offer.

Opened down 15%.

Afren. In talks with their house broker, Morgan Stanley to see how they can re-structure the debt. Here's Sky's take on it:

HTTP://news.sky.com/story/1411565/afren-reviews-options-amid-oil-price-slump



This is the RNS response to the above "press speculation":

Afren plc ("Afren" or the "Company") notes the recent press speculation regarding a possible financial restructuring. The Company confirms it has been reviewing with its advisors its capital structure, liquidity and funding requirements. As part of that process the Company is in discussions with its lenders regarding amendments to its existing facilities, in addition to seeking a deferral of a $50m amortisation payment due at the end of January 2015. Given the rapid decline in the oil price the Company is also reviewing its cost base and capital expenditure plans for 2015.



Afren is worth around $300m.
A third of production (30-35k bopd) is hedged at $90 until December 2015 I believe.
Sepalt given another two weeks to come up with an offer.

Lack of buzz here....considering a takeover might be coming.....

Surprised there is any 'buzz'. Seplat walks and Afren price collapses you'd have thought. Not sure they can pull off any sort of reasonable refinancing at this present juncture.

Yesterdays RNS killed the buzz

I cant see a bid at 50p if it all.

With no buzz..(aldrin) ...well the takeover at 80p or more is looking more and more like a moonshot...but I'm staying put(t))(for golf on the moon)....anyway,....

I've heard of video killed the radio star....but not rns killed the buzz....sorry....just having a laf...

AFR have the money,are they carrying out normal business of restructuring for
best practice?

reaction of sp is surprisingly muted and trade book pretty much level
to me, it looks likely that AFR will be forced into a corner and have no option other than to accept what is put on the table
whether or not the innocent (as opposed to the crooked) shareholders will be left with anything at all is a moot point

Wish I took a quick profit when it was 34p....could have bought them back now as it is in an Isa...

ah well; i wish i had left my short running too

you don't want to keep running without your shorts , lol

Keep on falling sub 20p today.

Fill ya boots Mitzy.....you don't want to be left out in the cold...

can't quite work it out ..... order books still fairly even but 31.5m already traded!
i'm out and very cross with myself

I'm not sure Malcy is worth more than a token glance these days. He's been banging on about Caza for as long as I can recall and that's another that has just hit an ATL.

SOU another he's fallen in love with yet appearing priced for perfection. Onshore but very deep costly wells.

I think he needs reminding a few oilers now trading way below cash. Who'd a thought 12 months ago??

Anyway back to Afren and yes order book even but looks like seller just filling up into strength in book. Must be a head scratcher for investors now that Seplat appears to be their potential great saviour. Good luck everyone whatever your take.

seplat is almost certainly the ONLY possible saviour, and if so, it's unlikely PIs will see a penny - or at least that's what i think