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

" J ",

Whats your view on SER & COP now ?

" J "

Am thinking of taking some profit on EEL @ 400

Nothing wrong with taking profit Roly . Always accept what the market offers. Play the percentages ,,,,, To be honest i had been thinking of selling 10% of my holding - 50,000 - in order to free up some capital . ( for gaspom )Bought @ 187p so cant complain ...Am busily mopping up AFR in the low 70's. l see this moving at twice the speed JKX or one of the plethora of junior oil players did in 2004/5 .......Believe me -All is not as it seems . Afren are understating thier case Re: SER and COP ....Holding a shedful of SER ( who isnt ? @ 0.52) and am of the belief that once the massive overhang of stock is erradicated this stock is on a parity with others out there which boast s/ps of ten times . Could make nice money from a mininum of outlay . .....Still holding COP ......@+ J...

Cheers, " J "

Afren PLC
11 April 2006

AFREN plc ('the Company')

Shareholding in the Company


The Company was notified today that, as at close of business on 31 March 2006,
Lehman Brothers International (Europe) had an interest in 18,792,254 Ordinary
Shares of 1p each in the Company, representing 9.92% of the total issued share
capital of the Company.

Just found this interesting article on Afren.The site is free to register.

http://www.proactiveinvestors.com/registered/articles/article.asp?AFR

Afren Energy: Could have a small slice of a very big pie

Afren was formed in 2004 by a group of oil and gas professionals with significant experience in the African oil and gas sector to establish the company as a leading oil and gas group within Africa.

The Company is led by acting Chairman Guido Pas, executive director Bert Cooper, and executive director Egbert Imomoh, the former Deputy Managing Director of Shell Nigeria. The executive team is supported by non-executive directors including Dr. Rilwanu Lukman, the former Secretary General of OPEC..a pretty impressive line-up...

AFR PR dept hardly rushed out the RNS dated 31st March 2006 that Lehman Bros had increased their holding to almost 10% of the company. Coupled with the fact Fidelity rushed out on 23rd March and increased their holding to 14,7 million shares ,,,,The electronic age ?? , A snail would have been quicker passing that news ......On a different note,,,,,,,,,,A second aircraft American carrier accompanied by six protecting frigates turned up at Sao Tome to protect thier new found "oil rich" bedpartners{ from Nigerian aggression basically} So a deal was struck beteen the USA and Nigeria { uSA is dependant on Nigerians as Peacekeepers in West Africa via UN so the applecart cant be rocked too much . } ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Then came unsubstantiated reports in a financial journal ( held in great esteem by many in the city of a major gas/oil double play with a major gas/oil payload of 1 billion bpoe having been discovered by Texaco/Chevron ...{That actually was a leak from Exxon and not the Operator- Chevron } . ,,,,My connections tell me this is quite true .lts AT LEAST a billion dollar baby ,,,,,,well basically youd have to be a f%434% moron to sell @ the moment . l MMS are shaking the trees .From top to bottom . And "T" +10,20,or 30 players settling up ....l stake my reputation on it . @+ J..and quite honestly a pretty large stake . , , Adopt for a moment the position of the mms frantically awaiting the inevitable ........... Utterly disgusted at the market manipulation .

TFC (J) Holding firm and with you all the way! We'll get there in the end though as patience pays off eventually. :-)

Issue of Equity



Afren PLC ("Afren" or the "Company") announces that it was notified on 19 April
2006 that Ocean Venture Investments Limited has exercised warrants over 800,000
ordinary shares in the Company. The warrants have an exercise price of 10 pence.



Consequently, the Company has allotted and issued credited as fully paid 800,000
new ordinary shares in the Company (the "New Shares"). Application has been
made for the New Shares to be admitted to trading on AIM and admission is
expected to occur on 26 April 2006. The New Shares will rank pari passu with
the Company's existing Ordinary Shares.


Following admission of the New Shares, the issued share capital of the Company
will be 190,239,496 Ordinary Shares.

A good day for AFR 90p at the close ?

Cat let out of the bag quite unwittingly by Nigerian minister for Mines and Petroleum who innocently asked Chevrons senior executives if a find of 1bbboe was within thier expectations . .....or where results a "dissappointment " or did they exceed expectations " Innocent naive banter yet a giveaway ........Announcement due from Chevron VERY soon . AFR must be smiling geleefully . 45 to 50 mmboe for " nowt"...........and what with their independant drilling prog due to start as soon as rig arrives little wonder this has had a good week ,,,,, 90p ? tommorow at 8.01 @+

french

do you post on the ad v fn ?

f

Amities / Slt Fortitude ,,,No i dont im afraid . .Am i missing something ?,,,,,,, ..Roly its funny where you get certain informations but on the messages from Sao Tome thread between ex pats in Sao Tome and Lagos revealed some astonishing news last night . Apparently Woods and Mckenzies admit they have finished their assayal And there it was in black and white ,,,,The result was a whopping C1 reserves of 1.1 bbls of low sulphur oil plus 1 trillion scfs of gas And that is C1 proven hydrocarbon. .Thats big money by anyones standards ; and music to the ears of Chevrons BIG shareholders who prefer topping up proven reserves with new finds as opposed to mere aquisition ...Yet Chevron have not made an RNS . ..Why? .Such price sensitive info could not be an error in hindsight. . Why would the operator of a major constituient of "Big Oil " allow what should be champagne popping days in the house of Chevron go unnoticed and prevent by way of proxy news of a price sensitive information type into the public domain .And in doing so ; SURELY flouting the rules of thier respective regulator..Unless ...,,the millitary are involved ( which they are ) ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.l think this "strike " is juste as political as well as fiscal . lt a small part of a field whose overall size is so vast that it made Bush immediately instruct two aircraft carriers protected by over 20 frigates- and ordered three more to be removed from the Med this year to assist in this new sao tome/ prencipe oil protection remit ... Talking to aguy i know at "Janes" and apparently the Nigerians are holding millitary manouvres as i write . Nigeria posturizing, of course, yet still shows the conflict is there. ......As i say l billion barrels of sweet crude and in excess of 1.2MM scfs of gas is a lot of money as i say hundreds of billions of $$ lf this sao tome oil is for 2013-15 consumption then how long be the drilling programme ? lt beggars belief .............,, l added today .This is a done deal and i suspect an RNS very shortly !!! @+ J

Amities / ,,,,lf you hold a Royal Flush you can bet with confidence . Or have they changed the rules of poker since i i woke up . Read that Site Roly - Messages from Sao Tome @+ J

Do the US have the same rules regarding price sensitive information ?

We may hear news from Chevron on friday at 4pm.

Amities / Phoned AFR as to how they read the situation and was duly informed a statement would shortly be made . Looking good uh ?...This is one stock i dont mind holding overweight as the outcome is pretty hard to ignore. ....@+ J . Most stocks to me look expensive- even some of the oilers - but this looks ridiculously low considering prospects potential

INTERESTING ARTICLE....( from js blogg )

Wednesday, April 26, 2006
Block 1 Find 'Gigantic,' Doc Says; Chinese Take Stake In ERHC

In a major development, the reliable African source known as Doc has revealed exclusively to ERHC On The Move - in a post we did not see for a day after it was sent - that the Block 1 find by Chevron in the Nigeria-Sao Tome and Princiope Joint Development Zone is of "gigantic" proportions and large enough to transform the African economy.

Moreover, he says, he learned yesterday morning just after midnight that an unnamed Chinese firm is taking a stake in ERHC Energy, Inc.'s overall Gulf of Guinea positions, and that the deal in the works is likely to make Sir Emeka Offor "the richest man in Africa."....
.....

CVX drilling at the edge of block 1 only revealed the "tip of the oil iceberg". Those in-the-know in Nigeria are now 99% sure that the Gulf of Guinea is a mammoth O&G discovery that will bring decades of unprecedented revenues to the region. This gigantic structure will mostlikely keep oil companies busy in all blocks for a very long time! Just two hours ago (about 7 AM your time this 25 April) I also learned something which I thought I would pass on. This comes from a *very* trusted source of mine who is intimately familiar with ERHC Energy and the Offor clan and says: "A major Chinese oil company is taking a stake in ERHE and in its very large rights in the JDZ. I believe Chief Offor now is or will soon be the richest man in Africa."

My contact already took a huge risk as the clan has imposed total secrecy, I cannot ask more at this time. As you know I have excellent connections in China, but they are not in the oil industry. It is always wise to obtain confirmation from another source so perhaps you or your blog readers could use their China contacts?

In the Spirit of Respect and Friendship,

Doc

Amities / News in "The lndian Daily" that the Chevron operated JDZ#1 well could be as high as 8 billion bpoe. Be it l billion or eight it looks a monster

Doc - Amities - Read some of your errudite posts . lmpressed. lndeed Chinas State owned oil company has been offered first refusal on 4 blocks offshore in the shallow to semi deep waters of Nigeria .lt is also involved in JDZ #2 at Sao Tome Surrounded by some of the biggest oil strikes this past 10 years these prospects are expected to be highly prolific. For which in exchange China have agreed to spend $4 billion on Nigerias petrochemical infrastructure including repairs to a Refinery at J . and to complete anumber of civil engineering projects like good roads and bridges And that $4 billion dollars is merely for first refusal ,,,,The mind absolutely boggles at the price of expo rights . l am painfully aware and utterly convinced of the concept of " Peak oil" but being in Port Harcourt you would never believe it . ,,,A generation ago , l am told it was a sleepy oil town ...Now it is a hive of activity with oil and LNG projects of EVERY player in "Big Oil " in town . The entire city for the first time is beggining to feel the benefits of Nigerias oil industry ,Hopefully next -the delta. .......As for Afren i am "all in " on this . More than fag packet calculations allow me to arrive at a fair and true value of ,,,,, well their 4.5% holding in the oil leg and gas reavoir of Chevron#1 is worth perhaps up to $3.2 billion Work it out yourselves .....And thats not even counting thier own projects expected to be producing 17-18,000 bpoe p/d by the 4th quater of 2007 ....This is HUGE !!!! .....Absolutely effffing huge. Strong support level @ around 80p . lt should be nearer 800p !!!! ....At this price it is as much a defensive play as much as an agressive one .....l sold a share i have held since the mid 30s in JKX but sold half of them to finance a shedful of AFR .....By comparison JKX suddenly look startlingly expensive . No sentimentalism but JKX has been a great ride for me @+ J