< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
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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

US crude (WTL) has also bounced today to $49.50, but that is something of an aside

Why would Saudi cut production?
There's certainly no sign of that from where we're sitting

For sure crude will find it's own level again - my totally arbitrary level says ~$60 - as supply and demand reach equilibrium, but i do not believe that will happen until mid or even late in the year

As for AFR, I'll stand by my prediction that, as far as PIs are concerned, this is a dead duck .... but then i do not currently have money married to mouth

Cynic

You write "Crude has also bounced ...of an aside. "
Reason - US oil rigs taken out of production last month at record levels.

You write "Why would Saudi cut production"
They have done before, but usually to stabilise price of oil, but could under pressure from other OPEC members and Russia.

$60 a barrel your guess guess could be about right ???
Brent up 3.5% today - maybe it will be sooner than "mid or even late"

Afren production cost I think may be about $40 a barrel, and Seaplat need more gas.

Let us see who will end up as "a dead duck"

if either of us actually KNEW what would happen, we wouldn't be sitting here discussing the issue

as i have said on the FLYB thread, you pays yer money and takes yer choice
as it stands, i currently have no position, but as is my wont, i'll probably post (truthfully!) as and when i do so

Of course - If I knew I would be on a boat somewhere that bit is obvious

I do hold Afren shares and I have never said that I do not.
Consequently I would obviously like to see them increase in price,
and am optimistic about them otherwise I would sell out.

Why do you write I'll probably post ( truthfully ) as ....
You seem to imply that I am not telling the truth, and if that is the case
what specifically is my lie ?

not you old chap, but periodically when i post that i have dealt or similar, a certain member reminiscent of MRSI and menorca et al, descends to abuse over my integrity, parentage and ancestry etc

btw, 120m already traded and buyers easily outnumbering sellers at ~9.75

NEVER BETTER SAID

Take your bet and I will tell you who you are

But open your mouth too wide and you will spout the brown sauce once too often

It took a couple times for the 9p bid to hold but once it did, it has move higher fast

mentor - you're a complete idiot unto yourself, and show yourself to be .... you should be old enough by now to know that playground bully-boy abuse is just puerile

It looks like that you have recognise yourself with the brown sauce ( in the US they say bull ..... )

You have to learn to keep you mouth shut ( I have notice you allways have to have the last word )

re -idiot
You are decending to where you belong maybe?
------------
I can't see once you best mate around?
you have done a good job it seems, the "back stabbing" has been mortal

abuse is easily dealt with ... squelched

GOOD ALL SORTED

and being on the uptrend since last Friday has now broken the 10p

there's not half some brave people out there, and 182m traded
a lot of money will be made by some - and lost by others

even if i'ld been smart enough to buy at ~5p, i'm sure i'ld have sold by now, and prob been a damn fool and shorted

Shows how easy it is for big players to pump up the SP after crashing it through shorting frenzies.

The problem still remains that AFR are in need of financial restructuring and looming payment dates.

I suspect the FCA are monitoring this AFR share SP and who is buying and pumping the SP higher. Would not be surprised if an FCA inquiry is not made into the whole situation, from the issues of AFR poor management and takeovers etc. No doubt the media will also take interest.

I am sold out @30p.

DYOR

HAb

that must have been a good while back :-)
can't see grounds for an investigation by fca; looks to me like just a load of nimble fingered traders at work

I agree and a lot of the shares (millions) sold last week to drive the sp down were held by funds and Investment companies.
By the look of the chart, around 12.5p looks to be the first hurdle.

12p has been the main resistance point on this BIG spike today
was down to 10p as is bouncing back
The level 2 was strong at the time ( much the same as earlier when it was reaching the top ) of retracement from 12 to 10p

Well done all. :-))

Closing at 10p or above should be positive for another go tomorrow

at low after retracement 9.25p the order book was balance, since the bid side has improved to 125 v 108

One reason for the OIL price bouncing back

Shell Leading Talks With Unions To Settle US Strike - Mon, 2nd Feb 2015 15:43

LONDON (Alliance News) - Royal Dutch Shell PLC is leading negotiations in a large-scale strike at nine refineries in the US after workers could not reach a new national contract with major oil companies, reports the BBC.

The United Steelworkers Union began the strike on Sunday, after their current contract expired and no deal was reached despite five proposals being made by oil companies that have all been rejected. The USW has said it "had no choice" than to commit to strike action.

Shell is leading negotiations, and have said it "hopes to resume negotiations as early as possible," said the BBC.

The USW wants to double the size of the annual pay increases from the previous agreement, increase healthcare coverage and reduced use of non-union contract workers.

Shell, Marathon Petroleum and LyondellBasell are all being affected by the strike, which is the first nationwide walkout since 1980