< "> 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

though i take it you don't actually disagree with my summation :-)

If we didn't ,we do now as you have been here 4 million times to tell us .

I'm not expecting anything here except this will offset some gains this year for tax .

i only posted in the light of shell's acquisition of bg and how other companies might well be actual or realistically perceived targets

I think your right ,i'm liking some oil stocks ,waiting for another drop now .

Buy a 1,000 AFR shares @ 3.4p not the best advice you've given cynic, £34 worth of shares + dealing costs, you are having a laugh but I doubt jimmy b would if he took your advice.
2517

AMER is one to note, sp has fallen on the back of the oil price and the company cutting back. They still have plenty of oil to extract, just awaiting more favourable conditions. I do hold AMER.
2517

GEORGE ,cynics so tight £34 is the most he spends :)

i've even spent more on bottles of wine :-)

of course, i should have written 10,000 AFR shares, but it's kept you all amused

:>))

Has it really ...........

MER is one to note, sp has fallen on the back of the oil price and the company cutting back. They still have plenty of oil to extract, just awaiting more favourable conditions. I do hold AMER.
2517

George

You can say that about 90% of small/medium size oil co's, while your waiting for who know's how long were is the cash flow coming from to pay cost's on loans ect: ps Does Sharesure still post on here

StockMarketWire.com
Afren's board has decided to utilise a 30 day grace period under its 2019 bonds with respect to approximately US$12.8m of interest due yesterday, pending the completion of the interim funding process.

Further announcements will be made in due course.

http://www.oil-price.net/index.php?lang=en

Brent above $60's

Afren plc announces that, further to its announcements of 13 March and 1 April 2015, it has successfully completed key steps in its recapitalisation plan to address its funding requirements and operational repositioning which will allow it to succeed in the current oil price environment:

· US$255 million of net total funding to be provided by bondholders as part of the recapitalisation, with the ability to increase such net funding to US$305 million

· Arrangements for the provision of US$200 million in net interim funding provided by bondholders have been completed, the remaining committed US$55 million will be provided at closing which is expected to be in July 2015

· Alan Linn has been appointed as Afren's new CEO bringing to 'New Afren' 35 years' of industry experience and a successful track record implementing strategic change within established businesses

· The recapitalisation and investment demonstrates the ongoing commitment to invest in Nigeria

These steps set 'New Afren' on a decisive path to address the operational and governance issues it has faced and ensure it can successfully reposition itself focused on its core Nigerian producing assets.

Commenting today, Alan Linn, new CEO of Afren plc, said:
"I am looking forward to working with the Afren team and its partners to deliver a lean and effective business with an oil production and development focus. The strong support shown by key stakeholders ensures we can now progress a number of important development projects in Nigeria which will contribute early production and revenue to the business and support our aim to be profitable in a lower oil environment.

There is a lot to do. However, the core assets and the quality of people and partners I've met give me the confidence to say that Afren has an attractive future and I am pleased to have the opportunity to contribute to this future success."

Commenting today, Egbert Imomoh, Chairman of Afren plc, said:
"I am very happy we have reached agreement on our recapitalisation which will allow us to create a 'New Afren'.

I am also delighted to welcome Alan Linn as CEO to drive the future redevelopment of Afren. He comes with deep industry experience and a strong track record of success. We are fortunate to have attracted such an outstanding CEO to lead the 'New Afren'. I would like to thank Toby Hayward for stepping into the role of Interim CEO at a very difficult time in the Company's history."

What do you think about the results?
It was for last year, oil price 97....
http://www.moneyam.com/action/news/showArticle?id=5027976

Afren unveils funding deal amid $2bn loss on oil slump

Afren has unveiled details of a long-awaited recapitalisation plan as it posted a massive $1.95bn (£1.27bn) loss for last year due to the falling price of crude and a write down in Iraqi Kurdistan. The company said that $255m of net total funding will be provided by bondholders as part of the recapitalisation, with the ability to increase this net funding to $305m on demand. Alan Linn, Afren’s newly named chief executive said “I am looking forward to working with the Afren team and its partners to deliver a lean and effective business with an oil production and development focus. The strong support shown by key stakeholders ensures we can now progress a number of important development projects in Nigeria which will contribute early production and revenue to the business and support our aim to be profitable in a lower oil environment.”…telegraph.co.uk

hxxp://ekurd.net/iraqi-kurdistan-news-in-brief-may-1-2015-2015-05-01?
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WTI OIL a,most $60's a barrel

Sharp rebound.......sp recovery about to begin ?.....

A few gaps in the chart once the sp gets going. AFR still with huge debts and need $80pb to make money.

Must be worth 5 or 6p somehow......