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

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

Each company will present for 20 minutes with 10 minutes Q&A to follow. After the presentations are complete the directors will be available to take questions during a free canapand wine reception which will be open until 9pm.


Afren Plc (AIM:AFR)
Afren was founded in December 2004 by a management team including Dr Rilwanu Lukman, (Chairman), Osman Shahenshah, (Chief Executive) and Bert Cooper (Advisor to the Board), with the vision to become the premier pan African independent Exploration and Production company. Afrens Chief Operating Officer is Evert Jan Mulder, who was most recently Chief Operating Officer of Addax Petroleum, Nigerias largest independent oil producer. Since its listing, Afren has rapidly expanded its portfolio and the management team has delivered 12 assets in the Joint Development Zone of Nigeria-S Tomand Prcipe, Nigeria, Gabon, Angola, Congo Brazzaville and Ghana. In addition, Afren has built an executive and non-executive management and advisory team with broad and extensive experience in the industry, both in West Africa and internationally; in identifying and completing corporate expansion opportunities and in public company financing. Afren also looks to leverage key relationships across the region to gain preferential access to opportunities. Afren will continue to add to its diversified portfolio of near term development and high impact exploration, with the overall objective of creating substantial shareholder value.

http://www.proactiveinvestors.co.uk/eventregistration.php


Range Resources (AIM:RRL)
Range Resources is an exploration company with its principal activity directed towards finding and delineating natural resources in the oil, gas and mineral sectors in Puntland, Somalia. Puntland is believed to have all the geological requirements to become a commercial oil-producing region. Range has two Production Sharing Agreements (PSAs) for the Nogal and Darin Blocks, two particularly promising basins. Undiscovered oil-in-place resources in the Nogal block are estimated at net 860mmbbl. A successful project in this Near Shore zone would mean that new reserves could be rapidly placed on production, largely from shore based facilities. Fox-Davies Capital recently initiated coverage with a price target of 50p.

http://www.proactiveinvestors.co.uk/eventregistration.php





CBM Oil (PLUS :CBMP)

CBM Oil (PLUS:CBMP) is an oil & gas exploration company established to get finance the exploration and development opportunities of energy resource interests in the Caspian, the Black Sea and the Mediterranean., with a focus on projects in the Commonwealth of Independent States.

CBM started negotiations with Chornomornaftogaz, a subsidiary of Naftogaz Ukraine, having identified that Ukraines sector of the Black Sea could contain large oil and gas Prospects. OIn August28 September 2007, CBM and Naftogaz Ukraine Chornimornaftogaz concluded a Joint Operating Agreement for the Gordievicha exploration prospect. CBM and the Ukrainian Ministry of Fuel and Energy have also created a Working Group to oversee the joint development of the hydrocarbon fields in the Black Sea and the possibility of co-operating outside Ukraine.

The Minister of Fuel and Energy supports further cooperation between CBM in the Black Sea and joint activity by Naftogaz with CBM Oil outside the Ukraine. It is the intention of the Company to float on AIM in the first quarter February of 2008.

http://www.proactiveinvestors.co.uk/eventregistration.php

Afren PLC
13 November 2007

Afren plc (AIM: AFR)



Acquisition of Devon Energy's interests in Ghana and Angola



London, 13 November 2007 - Afren plc ('Afren' or 'the Company') announces that
it has entered into an agreement with Devon Energy to acquire its interests in
Ghana and Angola, comprising a 95% working interest and operatorship of the Keta
Block, offshore Ghana and a 15% working interest in Angola Block 16. The
acquisition is subject to certain conditions precedent, including customary
governmental approvals and, with respect to Block 16, the preferential rights of
Sonangol.



Acquisition of Devon Energy's interests in Ghana

The Keta Block is located offshore eastern Ghana, in the Volta River
Basin, and covers 5,500 sq km

Devon has carried out extensive technical work in the area and
identified primary targets, which are Upper Cretaceous deep water sandstone
reservoirs that have not been drilled in the block to date

The play type is very similar to that successfully proven by recent
drilling to the west in Ghana in the Mahogany and Hyedua discoveries
Further technical evaluation of the re-processed seismic data is
ongoing, and the expected mean potential reserves are expected to be
circa 250-500 mmboe

The current licence period expires at the end of 2008 and includes
one commitment well

The licence can be extended for a further six-year period, comprising
three, two-year periods, each with a firm well commitment
GNPC (Ghana National Petroleum Corporation) has a 5% carried interest
in the block

The Cuda prospect, which will be drilled in 2008, is covered by good
quality 3D data which has recently been re-processed with a marked improvement
in data quality



Acquisition of Devon Energy's interests in Angola

Block 16 is situated offshore Angola within the Lower Congo Basin and
covers an area of 4,936 sq km
Maersk is the operator (50%) and partners include Odebrecht (15%) and
Sonangol (20% carried)
It is an exploratory block with nine wells previously drilled and notably
two discoveries
The Miocene and Oligocene discoveries, prospects, leads, and play
types mapped within Block 16 are analogous to the fields in Blocks 15,
17, 31, and 32, adjacent to Block 16
The plays are considered to be highly prospective with several
prospects and leads identified on Block 16; the expected mean potential
reserves are expected to be circa 1,000 mmboe. The discoveries on Block
16 are under appraisal with the potential for early development



Devon Energy is divesting its interests in the operated Keta Block offshore
Ghana and Block 16 offshore Angola as part of the process to sell its assets in
West Africa, as announced in January 2007.



Osman Shahenshah, Chief Executive of Afren, commented:

'We are delighted to have secured two highly prospective exploration blocks in
Ghana and Angola offering multi-billion barrel oil resource potential. The Keta
Block, offshore Ghana, is located east of the discoveries that were recently
announced on the West Cape Three Points and Deepwater Tano blocks, whilst Angola
Block 16 lies adjacent and on trend to 45 significant discoveries and notably
has two existing discoveries, which are under appraisal and offer the potential
for early development.



'The addition of the Keta Block and Block 16 to the portfolio will further
increase the Company's exploration and appraisal drilling campaign for 2008,
with a total of up to 4 additional wells.



We are on track to produce 15-20,000 barrels of oil per day from the Okoro Setu
Project in Nigeria by mid-2008, and the entry into Ghana with the acquisition of
an operated interest, as well as participation in Angola Block 16 marks an
important strategic expansion of Afren's pan-African footprint. '



13 November 2007




Maps identifying the location of the Blocks in Ghana and Angola are available on
the Company's website:
www.afren.com

kkeith,

Thanks for that, I guess they will be talking about all this at the presentation this coming Thursday.

No mention of how this will financed yet. s/p come off the recent highs now
Hopefully we will get answers soon

Kieth think it may funded by a placing. I can see us drifting back to 80p. Good buying opportunity then.

Well if anyone is in London Thursday evening, you have an opportunity to go and address your questions to the CEO himself!

And over free drinks and canapes!

An opportunity not to be missed IMO.

Andy, off topic, Good news today for KYS.

A good read from Jack Brent, don't know where he finds all this information but he is a star


Afren on the up
AIM-listed Afren is pressing ahead with marginal field work in Nigeria, but there are signs of larger projects on the horizon
By Amrit Sidhu
Afren’s FPSO for the Okoru Setu project is ready and production will begin next year The company has strong links to international banks and to local Nigerian figures Acquisition of stake offshore Angola, plus stake in JDZ, suggest bigger dreams

A three-year old African junior
exploration company is set to launch three to four new fields over the next two years, with the potential to reach gross production of 100,000 barrels per day by 2009-2010. The company, Afren, is set to produce 15,000-20,000 bpd by the middle of next year.
Afren, formed in December 2004 and listed on London’s Alternative Investment Market (AIM), is in the midst of commencing production from the Okoro Setu field, off Nigeria, by next March.
Though shying away from giving specific numbers, Afren’s CEO, Osman Shahenshah, was confident of launching the development of three to four new fields within the following six months. Afren, under the chairmanship of former OPEC secretary general, Rilwanu Lukman, has raised over US$300 million of financing so far this year.
This includes the syndication of US$200 million debt facility to finance Okoro Setu, completion of US$65 million equity fundraising following a US$15 million strategic equity investment from Standard Bank and BNP Paribas and a US$50 million unsecured acquisition facility with First City Local links The company seems to be focussed on marginal fields, which have become economical to develop as a result of high international oil prices. Marginal fields were relinquished by larger companies – such as Shell and Chevron – and licensed back to indigenous companies. The Nigerian government is keen to use this mechanism in an attempt to bolster local content.
In the case of Okoru Setu, the local company was Amni, which subsequently brought in Afren to assist the development of the field.
The London-listed junior has excellent political connections in Nigeria, alongside the links to Amni it is also working with Dangote Energy Equity Resources (DEER) in the Nigeria-Sao Tome & Principe Joint Development Zone (JDZ) Block 1.
Okoro Setu is expected to
generate millions of dollars in revenue for Afren
Monument Bank in Nigeria. According to the AIM-listed company’s accounts, it also had cash of US$96.2 million as of June 30, 2007.

Shahenshah said the next round of
fields to be developed had reserves ranging from 40 million barrels to 100 million barrels. Okoro Setu has reserves of 40 million barrels.
Progress on Okoru Setu received a boost on December 4, when Afren announced the sail away ceremony for the Armada Perkasa, a floating, producing, storing and offloading (FPSO) vessel. Afren sealed the US$150 million contract for the vessel from Malaysia\'s Bumi Armada Group. Armada Perkasa goes to the Nigerian field this month under a five-year term contract, with an option for a four-year renewal. Shahenshah said Okoro Setu was set to produce for 10 years, with production peaking in the first five years. Okoro Setu is expected to generate millions of dollars in revenue for Afren in the 2008 financial year, said Shahenshah but he declined to provide a definite figure or projected numbers. The FPSO has a processing capacity of 27,000 bpd with 360,000 barrels of storage and is set to arrive on site in February.
The drilling rig, Adriatic VI, is to commence a nine-month programme in January to drill five production wells. Two appraisal wells, drilled in the fourth quarter of 2006, have confirmed its development.
Assuming success in these ventures would see Afren set up for a transformation, the company would be well poised for further successes with strong prospects.
Afren has been building upstream portfolios and will continue to do so, Shahenshah told a Singapore press conference during the sail away ceremony for the Armada Perkasa. The company signed an agreement with Devon Energy last month to acquire interests in Ghana and Angola, comprising a 95% working interest and operatorship of the Keta Block, offshore Ghana, and a 15% working interest in Angola’s offshore Block 16.
The Angolan block is interesting as it is a high-risk, high-reward area, similar to Afren’s stake in the JDZ.
These holdings suggest that while Afren is content to pick up production from marginal fields – which will certainly serve the company well – it has its sights set on grander targets. Successes in these two blocks would transform the AIM-listed junior into a force to be reckoned with. That said, the higher risk attached to the Angolan and JDZ blocks carry with them higher costs, which could pose a difficult strain on Afren at these times of tightening credit markets.

Not a bad finish to the end of the year, i think we have had good one and now i look forward to 2008 with production not too far away. So to fellow holders a Happy New Year and may all our dreams come true
Keith

Happy New Year to you too Keith. All looks good with AFR.

What a start to the new year, great stuff we don't usually rise so quick wonder if we have some good news due soon, some frantic trading this morning

unless you work diligently, it is quite hard to find a dud oily at the moment (those in MRP have succeeded!), so it is difficult to know whether or not AFR (and others) are merely reacting to the general hype and high crude price, or if there is more substance

cynic, this stock has substance. DYOR :-)