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

From the oil barrel

21.08.2007
Afren Widens Regional Oil Search As Nigeria Development Work Continues
With development work in Nigeria underway, and buoyed by some recent well test results, Afren is preparing to embark on the next stage of its journey. As drilling kicks off in the Congo, and with a well lined up later this year in Gabon, the AIM-listed explorer is now beginning to assert itself as a true regional West Africa-focused oil company.

The first well to be drilled, in August, will target the Doungou prospect in Congos La Noumbi block. Here, Afren holds a 14 per cent interest in a concession operated by Maurel & Prom, already a significant producer in this corner of the world. A 200 km 2D seismic acquisition is also underway which will be completed by the year-end.

The Doungou well marks a big step for the company as it seeks to fan out across the region from its Nigerian base. Later in the year, a well on the Themis Marin block offshore Gabon will further bolster Afrens regional exposure. The well, targeting the Admiral prospect, is expected in the final quarter of the year. Afren holds a 12.86 per cent stake alongside operator Sterling, another experienced regional hand.

If either of these proposed wells pay off they will top up what could already be a significant pool of reserves from Afrens deepwater interests. The company has a small share of the Chevron-operated Block 1 in the Sao Tome & Principe-Nigeria Joint Development Zone. Last year, the US oil giant made a discovery with its Obo-1 well, the first to be drilled in the JDZ, with press speculation suggesting that the find could yield up a billion barrels.

Further ahead is Afrens Angola play. Here, it has teamed up with more reputable partners in the shape of Devon Energy and Repsol for a slice of Cabindas Central Block. The group plan 2D seismic on an area that has largely been out of reach for years because of security issues. But things are calming down, with Roc Oil recently launching the first well to be drilled onshore Cabinda in 35 years on its adjacent Cabinda South Block. These results will be eagerly watched by Afren and others.

But the primary focus for Afren is still Nigeria and its growing portfolio of development projects, headed by Okoru Setu.

Development drilling will start later this year with first oil for the group planned in early 2008. The company hopes to crank this up to as much as 20,000 bopd by the middle of next year, another significant test of its technical and operational skills. Afren said last week that the FPSO, currently being fitted out in a Singapore yard, is scheduled to arrive in Nigeria in December.

Positive results from the Ofa-1 well test should give the company plenty of added cheer. It said the deepest hydrocarbon-bearing zone, tested at a depth of 7,200 feet, flowed rates of up to 1,000 bopd on a 20/64 choke. Work is now underway to test the fields shallower zones. Afren chief executive Osman Shahenshah said he was delighted with the results. Separately, the company is progressing work on the Eremor development following the approval of a field development plan.

We remain focused on first oil in early 2008 -15-20,000 bopd from Okoru Setu by mid 2008 - and continue to evaluate our strong new ventures pipeline, said Shahenshah.






.

Fox Davies FLASH NOTE
Sector: Oil & Gas
Location: West Africa
Date: August 21, 2007
Ticker: AFR LN
Afren Buy, target price 1.16

Closes US$50mn unsecured loan
Event
Afren today announced the closing of a US$50.0mn unsecured loan through its
Nigerian subsidiary with First City Monument Bank, a local well-established
bank. The proceeds of the loan will be used primarily to finance Afrens
acquisition opportunities.The loan has a five-year term with interest payable semi-annually at LIBOR plus 4.45% and principal repayments commencing only after 30 months. The loan is accompanied with 12.0mn detachable warrants over Afrens ordinary shares with a term of five years and exercise price of 85p, which represents a 42% premium over yesterdays close.

Implication
The announcement is positive for a number of reasons:
To conclude an unsecured loan under current market conditions is a
significant achievement
Afren is further differentiating itself from its peers with access to nontraditional
regional funding
Local backing represents further political reinforcement and a vote of
confidence in Afren
The unsecured loan suggests the company will continue to make value
adding acquisitions
The loan is non-dilutive in the near term
The loan also comes in addition to the syndication of Afrens
US$200mn development facility and provides further financial
flexibility to the companys growth plans
Afren is also gaining another respected Nigerian investor in its
shareholder base through the warrants

Comment
Since the proceeds have not yet been utilised and given that the principal
payments are delayed by 30 months there is no immediate impact on NAV.
We continue to be positive on Afren and believe that the current share price
weakness due to wider market correction represents a buying opportunity. We
maintain our Buy recommendation and a target price of 1.16.
Company Statistics
Share Price (p) 61.0
Shares Outstanding (mn) 267.4
Warrants and Options 35.4
Fully Diluted Shares (mn) 302.8
Market Capitalisation ( mn) 163.1
Average Daily Turnover ( mn) 1.1
Net Debt/(Cash) ( mn) (49.0)
Enterprise Value ( mn) 114.1
52-week High (p) 84.75
52-week Low (p) 40.75
Website www.afren.com

Afren plc (AIM: AFR)

Completion of First Exploration Well on La Noumbi licence


London, 4 October 2007 - Afren notes the announcement below from Maurel & Prom,
operator of the La Noumbi licence in the Republic of Congo (Brazzaville):

Osman Shahenshah, Chief Executive of Afren, commented:
'Whilst the poor reservoir permeability at the location of the Doungou well is
disappointing, it established a working hydrocarbon system which is encouraging
for future exploration activity on the La Noumbi acreage. The licence has
multiple reservoir targets and covers a vast area of 2,830 square kilometres. We
look forward to an active drilling programme in 2008 after we have incorporated
the well results and interpreted the new seismic data.'


Maurel & Prom announcement:

'On the La Noumbi permit (Maurel & Prom, 49% operator), the exploration well
Doungou-1, whose main objective was the Vandji sandstone reservoir, was plugged
and abandoned.

The well was the first to be drilled by the La Noumbi Joint Venture, comprising
Maurel & Prom (operator and 49% working interest), Burren (37% working interest)
and Afren (14% working interest).

The Doungou well was spudded on 13th August 2007 and reached a total Depth of
2,602m (2,168 tvdss) on 26th September 2007.

Oil and gas shows were observed in several intervals in pre-salt formations. A
comprehensive logging suite, including pressure tests and sampling data, was
acquired across the intervals of interest. Reservoir quality is poor, due to low
permeability and the well was plugged and abandoned.

The well proves the existence of a working hydrocarbon system at several levels
in an under explored part of Congo Brazzaville, which is encouraging for future
exploration activity.

A new 2D seismic data set was recently acquired in the north of the La Noumbi
licence covering 200 kilometres in the area adjacent to the Tie Tie oil
discovery. Together with the new data acquired in 2006 and the reprocessed
existing data, these will be interpreted with the benefit of the Doungou well
results to determine new prospects to be drilled in 2008.'

Not very good news but something happening, was expecting a slight fall what a surprise

So was i , what a pleasant surprise .

Broker note out target of 110p.

Very bullish, hold on..........

I can't guarantee this link for long so save it or print it.

http://www.david-wilmshurst.co.uk/afr_merrill071004.pdf

The link doesn't appear to be working now. But thanks anyway.

The link works for me.

Do you have your firewall to tight?

Or turn off pop up blocker till you download it.

Link works through Security firewall !! Thanks, SWW, nice to be in the Blue again!

I have been having trouble with my browser all day, but when i used Firefox the link opened .

We are now back in almost 2 months in the low 80s from the 60p area, so this is good news, for all those who held in and for those who managed to sell high and buy back in low
I do hope now we can see a steady climb up to production start up with a few surprises on the way. A milestone for me is to hit record highs and then 100p at xmas

CONFERENCE PRESENTATION
London, 23 October 2007 - Afren plc ("Afren" or the Company) announces that Osman Shahenshah, Chief Executive, will be presenting at the Canaccord Adams Global Energy Conference in Miami, USA on Wednesday 24th October 2007 at approximately 2:00 p.m. British Summer Time / 9:00 a.m. Eastern Time.


Investors are invited to listen to the live webcast via the following link:

http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2020260

The presentation slides will be available on Afrens website at www.afren.com.

Gr8t speech full steam ahead now 1.00 here we come!! My first trench was at 53p WHOOPEE!!!

This is what we have been waiting for blanche, excellent stuff
Crack open the wine

Its now nice to see us hit the 100p, with drilling not too far away and then production to start and we can't rule out further acquisitions so hopefully more good times to come
A special thankyou to TheFrenchConnection for the research he did and bringing this share to my attention , Ive not heard from him in a long time but take care my friend
Keith

Kieth ,Fingers crossed its above at the end off the day. Then i can open a bottle of the good stuff and dream off £2.00 by this time next year,with everything that its got going on imo. 8-)
Echo your words on TFC

Its not been an easy ride blanche but not many are, but am assured when we become a producer things will change
Am almost on a free ride now, i took a few profit's in the low 90s got most of my stake back now so am happy

just read this, quite bullish on AFR, HERE

Thanks Andy, interesting read
A little retrace from the recent rise, but am still looking forward to next year