< "> 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

Afren plc ("Afren" or the "Company") announces that in connection with the satisfaction of the conditions precedent for the provision of US$200 million in interim funding to be provided by certain holders of the Company's 2016 Notes, 2019 Notes and 2020 Notes (the "Interim Funding"), the Company has reported to the committee of the bondholders preliminary concerns arising from work carried out by Willkie Farr & Gallagher (UK) LLP ("WFG") regarding the hire of an individual within its operations in 2012 and the payment of certain travel and accommodation expenses connected to Afren's activities.

As part of the Company's implementation of improved internal compliance procedures and as a result of whistle-blower reports received by the Company's management, the Company engaged WFG to assist it with its review of its compliance with such procedures. WFG has undertaken a substantial review of such matters, which is still ongoing but which is almost complete save for some follow-up work in relation to these two issues.

Having received WFG's preliminary findings of such review, the Company has notified the proposed providers of the Interim Funding of such concerns (as required under the terms of such Interim Funding). In addition to this disclosure, the Company has notified the Serious Fraud Office of such matters. The Company has taken steps to halt its previous practices in relation to such expenses payments.

Egbert Imomoh, executive chairman, said "The Company takes its compliance with all laws extremely seriously and we are committed to ensuring that our business is not undermined by breaches of our internal policies or applicable legislation."

Mar. 23, 2015, 3:56 PM

The exterior of the Schlumberger Corporation headquarters building is pictured in the Galleria area of Houston January 16, 2015. REUTERS/Richard Carson Thomson ReutersThe exterior of Schlumberger headquarters building is pictured in the Galleria area of Houston

(Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, said it expects the oil and gas industry's spending internationally on exploration and production to drop by 10-15 percent in 2015.

A 50 percent drop in global oil prices since June has prompted oil and gas producers to cut back spending and shore up dwindling cash reserves.

The fall in spending will keep production subdued and could lead to a further increase in oil prices in the second half of the year, Chief Executive Paal Kibsgaard said at the Scotia Howard Weil Energy conference in New Orleans.

Kibsgaard said while North America production would grow in 2015, it would likely fall in 2016, leaving a supply gap that will have to be filled by international producers.

Kibsgaard said there had been a "dramatic" collapse in land drilling activity in North America and that an increase in the number of uncompleted wells would delay a recovery in U.S. land drilling activity.

(Reporting by Swetha Gopinath and Anannya Pramanick in Bengaluru; Editing by Saumyadeb Chakrabarty and Savio D'Souza)

Read more:
hxxp://uk.businessinsider.com/r-schlumberger-sees-10-15-percent-drop-in-industry-ep-spending

Don't think that's any of interest to Afren shareholders at moment

i shall acidly retort that i don't think AFR as a company is of any real interest to trapped shareholders either

We shall tartly reply that we are aware of your view and don't need it reinforcing on every page of this thread, as trapped means exactly that......until salvation ultimately arrives!!! ;o)

cynic !!!!!!!!!!

acknowledged for it was fully expected :-)

You are so clever Mr Cynic .... Is that what you want to read ?

Also from now on please
try to keep to facts instead of your lies

lies?????
about what????? ......... that the PIs in AFR would get totally shafted and end up with fuck all?
in fact, it was merely an opinion which was proved correct, but then one hardly needed to be cassandra

She was Rodney's bird in Only Fools & Horses if I remember correctly. Don't suppose she has even heard of AFR!

What will Cassandra say ?.....Why...does she want one as well ?.....(blow up dolls )....

"This time next year we will be millionaires"
"Will we Del "
"Yes Roddy's, I bought a shed load of shares in a oil company called Afren , going dirt cheap"

cassandra was king priam's daughter whose prophesies were always correct but was never believed - eg she foretold the fall of troy

We prefer our particular Cassandra. She was part of the Trotter Empire. Paris, New York & Peckham.

that and porridge are two comedies that have definitely stood the test of time

On The Buses , is still very funny

This share is not funny .

51.7p at the open this morning!!!!!!! I wish.

Same on IG HARRY ,up 1500% , i thought we were going to get an rns saying
"sorry we just found that billion we needed down the back of the sofa" ....

Update on interim funding


Afren plc ("Afren" or the "Company") provides an update regarding the status of its interim funding arrangements.

As announced on 13 March 2015, the Company has entered into a conditional agreement with noteholders representing approximately 42% of the outstanding principal amount due under its 2016 Notes, 2019 Notes and 2020 Notes (the "Ad Hoc Committee") for the provision of US$200 million in net interim funding (the "Interim Funding") in the form of super senior private placement notes (the "PPNs"). The Company anticipated that the PPNs would be issued by the end of March 2015.

The Company is making good progress on satisfying the relevant conditions precedent to the provision of the Interim Funding and expects to finalise arrangements for completion of the Interim Funding imminently. Given the delay in completion of the Interim Funding, the Company now expects to release the Group's 2014 full year results at the same time as the issue of the PPNs. The Company also expects to be able to announce the appointment of a new CEO at the same time.

Following the delay in the issue of the PPNs, Afren has obtained from the lenders of the US$300 million Ebok debt facility a further deferral of the US$50 million amortisation payment originally due on 31 January 2015 until 30 April 2015.

Further announcements will be made in due course.

The contents of this announcement will be available at www.afren.com. The content of the aforementioned website is not incorporated into and does not form part of this announcement.