< "> 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

RF

Are you still waiting for 20p , whats your average buy price of your holding now ?

About 20p....

I think that Afren are going to prefer raising capital than being taken over...this is a company whose sp was around 100p to 150p for years...and now 10p...they are going to be gutted at being taken over around 20p or even 30p....best thing is to go cap in hand to banks....and then perhaps better times will come...

That's what i'm hoping for rf , that is however if they can sort out their mess ,it surely doesn't help that there is no one at the helm .
I do feel if they had a a really good CEO who knew the oil business there would be a future here .
I bought on the way down and have not stopped out , not happy here.

rumour is the decent ceo's dont want to be associated with this tarnished company............. damaged goods - as i say just rumour

don't need rumours, just common sense .... apart from anything else, the company couldn't afford the money for what is likely to be very short term tenure

ha ha lol
& afr obviously couldn't afford common sense either at the time............................

ah well; as happens quite a lot, mr shahenshah obviously considered the company as still "his" and milked it as he saw fit, apparently without reference to his main board

apparently so - meanwhile over at sepl

SEPLAT PetDevCom Plc
Acquisition of interest in OML 55 onshore Nigeria
RNS Number : 1708E
SEPLAT Petroleum Development Co PLC
05 February 2015




Seplat announces acquisition of interest in OML 55 onshore Nigeria

Lagos and London, 5 February2015: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, today announces that it has concluded negotiations to purchase 56.25% of the share capital of Belemaoil Producing Limited ("Belemaoil"), a Nigerian special purpose vehicle ("SPV") that has completed the acquisition of a 40.00% interest in the producing OML 55, located in the swamp to coastal zone of south eastern Niger Delta, (the "Acquisition"), from Chevron Nigeria Limited ("CNL"). NNPC holds the remaining 60.00% interest in OML 55. Seplat's effective working interest in OML 55 as a result of the Acquisition is 22.50%.

The consideration for Seplat to acquire its 22.50% effective working interest in OML 55 is US$132.2 million after adjustments. The adjustments to the consideration include a deferred payment of US$11.6 million net to Seplat contingent on oil prices averaging US$90/bbl or above for 12 consecutive months over the next five years. The Company has also advanced certain loans of US$80.0 million to the other shareholders of Belemaoil to meet their share of investments and costs associated with Belemaoil. In addition, discussions are underway to determine repayment terms for the initial deposit against the acquisition of US$52.5 million that Belemaoil funded with bank debt. This amount may subsequently be added to the total amount loaned to Belemaoil by Seplat. Under the agreed terms Seplat will recover the loaned amounts, together with an uplift premium of up to US$20.6 million and annual interest of 10.00%, from 80.00% of the other shareholders oil lifting entitlements. The Company estimates net recoverable hydrocarbon volumes attributable to its 22.50% effective working interest to be approximately 20 MMbbls of oil and condensate and 156 Bscf of gas (total 46 MMboe). Current gross production at OML 55 is approximately 8,000 bopd (1,800 bopd on a 22.50% working interest basis). Pursuant to the Joint Operating Model approved by the Honourable Nigerian Minister of Petroleum Resources, Seplat has been designated operator of OML 55. The Company will also act as technical services provider to Belemaoil.

"The addition of OML 55 to our portfolio, together with the separately announced acquisition of OML 53, expands our footprint in the Niger Delta to six blocks and further cements our position as a leading indigenous independent E&P in Nigeria. OML 55 provides us with a number of attractive opportunities to boost oil and gas output, and is consistent with our strategy of prioritising those that offer near-term production growth, cash-flow and reserve replacement potential in the onshore and shallow water offshore areas of Nigeria," said Austin Avuru, Seplat's Chief Executive Officer. "We are pleased to have extended our operating partnership with NNPC who we look forward to working with in our capacity as Operator pursuant to the Joint Operating Model," he added.

OML 55 covers an area of approximately 840km2 and is located in the swamp to shallow water offshore areas in the south eastern Niger Delta. The block contains five producing fields (Robertkiri, Inda, Belema North, Idama and Jokka). The majority of production on the block is from the Robertkiri, Idama and Inda fields. The Robertkiri field is located in swamp at a water depth of five metres and has a production platform and utility platform installed. Production capacity at the Robertkiri facilities is 20,000 bpd and 10 MMscfd. Production facilities at the Idama field comprise a jack-up mobile offshore production unit ("MOPU") and riser platform that have a capacity of 30,000 bpd of total fluids and 34 MMscfd. The Jokka field is produced through a manifold tied-back to the Idama facilities. Production facilities at the Inda field comprise a MOPU with a capacity of 30,000 bpd of total liquids and 34 MMscfd. Overall, the infrastructure on OML 55 comprises four flow-stations, a network of flow-lines and two eight-inch pipelines that connect to third party operated infrastructure. The Belema field is unitised with OML 25 and is produced via a flow-station on that block. All produced liquids from OML 55 are delivered via third party infrastructure to the Bonny terminal for processing and shipping. In addition to the oil potential on the block there is also an opportunity to develop the significant gas resources that have also been identified.


Enquiries:

Seplat Petroleum Development Company Plc

Roger Brown, CFO

Andrew Dymond, Head of Investor Relations

Chioma Nwachuku, GM - External Affairs and Communications










+44 203 725 6500

+234 12 770 400

FTI Consulting

Ben Brewerton / Sara Powell / George Parker

seplat@fticonsulting.com






+44 203 727 1000

Citigroup Global Markets Limited

Tom Reid / Luke Spells






+44 207 986 4000

RBC Europe Limited

Matthew Coakes / Daniel Conti




+44 207 653 4000


Notes to editors

Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT).

In July 2010, Seplat acquired a 45 percent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases in the Niger Delta (OMLs 4, 38 and 41), which includes the producing Oben, Ovhor, Sapele, Okporhuru, Amukpe and Orogho fields. Since acquisition, Seplat has more than tripled production from these OMLs.

In June 2013, Newton Energy Limited, a wholly-owned subsidiary of the Company, entered into an agreement with Pillar Oil Limited to acquire a 40 per cent participating interest in the Umuseti/Igbuku marginal field area within OPL 283.

Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds.

For further information please refer to the company website, http://seplatpetroleum.com/





This information is provided by RNS
The company news service from the London Stock Exchange

END

SEPLAT PetDevCom Plc
Acquisition of interest in OML 53 onshore Nigeria
RNS Number : 1707E
SEPLAT Petroleum Development Co PLC
05 February 2015




Seplat completes acquisition of interest in OML 53 onshore Nigeria

Lagos and London, 5 February 2015: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange and London Stock Exchange, today announces that it has completed the acquisition of a 40.00% working interest in OML 53, onshore north eastern Niger Delta from Chevron Nigeria Limited ("CNL"). NNPC holds the remaining 60.00% interest in OML 53.

The up-front acquisition cost to Seplat, after adjustments, is US$259.4 million, of which US$69.0 million had previously been paid as a deposit in 2013 and US$190.4 million paid at completion. The adjustments to the up-front acquisition cost include a deferred payment of US$18.75 million contingent on oil prices averaging US$90/bbl or above for 12 consecutive months over the next five years. The Company estimates net recoverable hydrocarbon volumes attributable to its 40.00% working interest to be approximately 51 MMbbls of oil and condensate and 611 Bscf of gas (total 151 MMboe). Seplat has been designated as Operator of OML 53 pursuant to the Joint Operating Model approved by the Honourable Nigerian Minister of Petroleum Resources.

"This transaction fits neatly with our strategy of securing, commercialising and monetising natural gas in the Niger Delta with a view to supplying the rapidly growing and evolving domestic market. In addition to the large scale discovered, but undeveloped gas and condensate resources that are yet to be fully classified through detailed technical work, there are near term opportunities to increase and optimise oil production significantly above current levels," said Austin Avuru, Seplat's Chief Executive Officer. "We very much look forward to working with NNPC and leveraging our technical and commercial expertise as Operator to realise the full potential of this high grade acreage," he added.

OML 53 covers an area of approximately 1,585km2 and is located onshore in the north eastern Niger Delta. The Jisike oil field, located in the north western area of the block, is currently the only producing field on OML 53. Current gross production from Jisike is approximately 2,000 bopd (approximately 800 bopd on a 40.00% working interest basis). Existing infrastructure on OML 53 at Jisike comprises flow-lines, phase one separation facilities and a flow station with a design capacity of 12,000 bopd and 8 MMscfd. Oil production is then sent for further processing at the nearby Izombe facilities on OML 124 from where it is exported via pipeline to the Brass oil terminal. The block also contains the large undeveloped Ohaji South gas and condensate field, the development of which will be co-ordinated with the SPDC operated Assa North field on adjacent OML 21, together referred to as the ANOS project. The expectation is that future gas production from the ANOS project will supply the domestic market, for which significant work on commercialisation terms and development concepts has been undertaken. There is also shallow oil development potential at Ohaji South that could be pursued as a separate standalone project in the near term. Prior to initiating development of the ANOS project, Seplat expects to focus efforts on increasing oil production at the Jisike field and development of the shallow oil reservoirs in Ohaji South.

Enquiries:

Seplat Petroleum Development Company Plc



Roger Brown, CFO



Andrew Dymond, Head of Investor Relations


+44 (0) 203 725 6500



Chioma Nwachuku, GM - External Affairs and Communications


+234 12 770 400





FTI Consulting



Ben Brewerton / Sara Powell / George Parker




+44 (0) 203 727 1000




seplat@fticonsulting.com








Citigroup Global Markets Limited






Tom Reid / Luke Spells




+44 (0) 207 986 4000

dont leave much cash for afr if sepl?

posting twice doesn't leave much room on the page either :-)

prob only need $1 to buy AFR always provided the debt is taken on too

$1 - as much as that :-)

i didnt post twice - it is 2 seperate rns from sepl they have purchased # 53 & # 55

chuckle :-)

Seems happy to hold around this level. We are not all paupers......yet!

Brent back to $58.40 after earlier profit taking to $57.40

------------------ Intraday Brent Oil ----------------------------------------- 2 month ---------------

Is share price ready for the bounce after seeing 9p a few times?
At the moment there is aseller at 9.50p on the order book lasting for a while or 30 minutes, every time the "AT" takes the lot another lot is put on ( Iceberg )


closing price 9 - 02 - 2015

Yesterday's bounce though at the end lost plenty is following the same path this morning.

On the order book it does not seem so control as on the last few days

AFR
Share Price: 9.885 Bid: 9.70 Ask: 9.87 Change: 0.52 (+5.55%)

it's all gone rather sleepy for this one

Just came across this,no idea as to it's cred?

A joker no doubt,but maybe???

From lse (taken from iii)
26Clarke on iii

I have heard it from good sources both Lagos and the City that this merger of Seplat and Afren is looking increasingly likely as I mention a couple of times last week, news likely on Wednesday from my research but of course do your own!! It's looking highly likely to be a merger, the other investors are coming out of Asia or Swiss (points towards a trader, which would make sense as they pull a lot of crude out of West Africa). This is going to start increasing in the next two days, good fundamentals this week, oil on the up, potential re-structure of existing debt and according to the rumours coming from various sources looking most likely the merger of Seplat and Afren as per the info from the ADVN post.....should make for an interesting week!!