< "> 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

Another extension is my guess.

I guess you are right.

Will the sp collapse at 4pm.

It's not doing a bad job now mitzy, fortunately I've never been in these but have been tempted many times.
2517

Its bad news for shareholders I know that George.

Talks terminated
2517

sorry chaps, and i'll refrain from repeating what i've been saying for a while

StockMarketWire.com
Afren's board has terminated talks with SEPLAT Petroleum Development Company.

Afren announced on 22 December that it had received a highly preliminary approach from Seplat regarding a possible combination which, under UK Takeover Code rules, was required to announce whether it intended to to make an offer buy 5 p.m. today.

The company says the board has not received any proposal that it believes is capable of being implemented on terms satisfactory to all relevant stakeholders, including the indicated value being significantly below the aggregate value of the debt of the company.

Accordingly, the board has concluded that continuing discussions with Seplat is not in the best interests of the company's stakeholders and will not agree to Seplat's request for an extension of the deadline.

Some fairly juicy buys going through now , some folk are either gambling or think this has a future .

Yep, it's recovering well.
2517

Reading other posts private punters seem very happy that AFR haven't been brow beaten into selling out too cheaply. Obviously many holders are sitting on huge losses atm, so any hint of a better deal is going to be well received. The feeling seems to be that if AFR can get their house in order without outside interference, then holders might see their investment get back to a reasonable level........in time.

Shorts taking profits probably IMO.

Surprised the share has not been suspended temporarily. Given the dire straits which AFR are in am not convinced a recovery is feasible at the current $Oil price.

Perhaps Seplat will now look around for another small Oiler with a shed load of reserves; BLVN / GKP / SOLO / AEX - etc.

I will stay out and keep powder dry for the moment.

DYOR

HAb

in your/their dreams harry, i'm afraid

Hope your heavily short then cynic.

my last position was short but i got out a bit early albeit with a decent profit
i absolutely cannot see how AFR can come back from here ...... it doesn't even have a proper board of directors any more

Well i know you were on the wrong end of a few trades here long and short .

i wouldn't deny it, and at least i own up which is more than many or even most do here
however, that in no way alters my present opinion, though i shall be very interested to read what you may have to say to the contrary

Debt restructure, new CEO's , a placing , another bidder ,who knows what will happen here now .
A rising oil price would help .
May be worth reading cyril's post from the other day ,interesting .

http://news.sky.com/story/1419273/ex-bp-boss-hayward-lures-monaghan-to-genel

If we knew the market value of Afrens separate operations i.e Madagascar, Kurdistan,
off shore Nigeria, on shore Nigeria, etc etc and its other operational assets, any one of which may be sold, then we may be in a position to know whether Afren "can come back from here".

Also at least it seems we can now trust the Board that we do have, plus there will be advisers about who may help broker any deals. We presently do not need any expansionist minded oil experts, rather we need deal makers.

How is your crystal ball - Mr Cynic ?

if it wasnt very high risk before...........................................

would expect this to be a totally different entity when all done and dusted