< "> 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

Sellers are dominating the L2 book ? i'm not saying any good is coming out of this wreck yet but i think there are a lot more bought than sold cynic ,again that means nothing, maybe gamblers taking a punt .

just looking at offers/bids
it's nothing silly as sometimes happens but currently 4/3

btw, 102m already traded!!

98m!

IG shows 109.3m :-)

98.5 on Digitallook.
If SEPLAT do make an offer of any kind, this has surely got to rise temporarily. Just a matter of being quick on the 'Sell' button!
The fact that many Funds have dumped stock doesn't bode well though, not that they are any better informed than us, but they seem to think the risk isn't worth the reward.

Statement re Rule 2.6 Extension
RNS
RNS Number : 6538D
Afren PLC
30 January 2015

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE
30 January 2015

Afren plc
Statement re Rule 2.6 Extension

On 22 December 2014, Afren plc ("Afren" or the "Company") announced that it had received a highly preliminary approach from SEPLAT Petroleum Development Company plc ("Seplat") regarding a possible combination with Afren.

In accordance with Rule 2.6(a) of the UK Takeover Code (the "Code"), and further to Afren's announcement on 19 January 2015, Seplat is required, by not later than 5.00 p.m. on 30 January 2015 (the "Deadline"), to either announce a firm intention to make an offer for Afren under Rule 2.7 of the Code or announce that it does not intend to make an offer for Afren, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

Following the receipt of a request from Seplat, the board of the Company has received the consent of the UK Takeover Panel (the "Panel") for an extension to the Deadline until 5.00 p.m. on 13 February 2015 to enable the parties to continue their ongoing discussions. By this time Seplat must either announce a firm intention to make an offer for Afren or announce that it does not intend to make an offer for Afren, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This new deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

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

Further announcements will be made in due course.
=======================================
=======================================

Still ongoing then ..............................

a truism ..... good deals get done quickly, but i suppose some may take comfort that talks are still ongoing

I wouldn't like to speculate ,either way iv'e done some serious dosh here ,not happy.

Surely it depends on who the deal is good for. Since Seplat have the upper hand here there just might be a crumb of comfort for the people about to be screwed, that's me but..... where there's life there's hope!

What ever happens it'll be after hours and not be able to do anything till monday morning, which will be too late.,.

you know my views so i won't repeat

if i wanted to gamble, i'ld probably go long at this point as there's likely to be a turn
to be made between now and mid feb

Should be more news today concerning the debt repayment. If that is sorted then SEPLAT might be a little more interested?
["As previously announced, Afren has initiated negotiations with the lenders of the US$300m Ebok debt facility with a view to obtaining a deferral of the US$50m amortisation payment due on 31 January 2015"]

'Following the receipt of a request from Seplat, THE BOARD OF THE COMPANY HAS RECEIVED THE CONSENT OF the UK Takeover Panel (the "Panel") for an extension to the Deadline until 5.00 p.m. on 13 February 2015 to enable the parties to CONTINUE their ongoing discussions. By this time Seplat must either announce a firm intention to make an offer for Afren or announce that it does not intend to make an offer for Afren, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This new deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.'

Already been posted cyril! Keep up!!! ;o)

1 all, lol

"Further to its previous announcements, Afren has obtained from the lenders of the US$300m Ebok debt facility a deferral of the US$50m amortisation payment due on 31 January 2015 until 27 February 2015.

In addition, the Board has decided to utilise a 30 day grace period under its 2016 bonds with respect to US$15m of interest due on 1 February 2015 while the review of the capital structure and funding alternatives is completed.

The Company is continuing discussions with the advisers to the ad hoc committee of its largest bond holders regarding the immediate liquidity and funding needs of the business. The Company is also having discussions with its existing stakeholders and new third party investors regarding recapitalising the Company."

I think a rise to 10p might be in order.......as I think they might pull a Gloria Gaynor here !...

that is why i mentioned that a turn might be made by the brave gamblers ..... buy; set a sensible target; sell

RF

I didn't know you was a cockney

I'm not...well...I admit I couldn't resist another portion this afternoon....might make a decent profit because somehow I think they are going to pull this debacle around or...just the rumour of them raising the necessaries can send the sp in % terms way higher....