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

Thanks for that link Keith.

I don't actually hold this stock currently but, from looking at the graph, clearly should have bought some a while back!

I like this stock, but I can' t help feeling that somewhere along the line there will be production delays, Nigeria has masses of oil but Nigeria is Nigeria and going from zero to 15000 to 20000 barrels of oil is a tall order for any company, though this one seems to have very good management. I have been in and out of this company several times already and at the moment possibly looking for a way back in, the subsequent latest rise has caught me by surprise.

I'm late to this party--should I hope for a pull back after the sudden rise or is now the time to climb on board? It certainly looks promising.

Moneyplus, I'm also looking for an entry point, (timing is so important), for me it's just a guess as to which way this stock is going to go in the next few weeks : as a long term buy overall it looks like a winner, in the short term, what is it going to do ?, it could go all the way up to 120p and beyond, then again with what's going on in the markets (possible drop on monday) this just could be a spike with a pullback to 100p soon, but in my opinion if : long term you want a good oilie then this one could be a good bet.

I agree-cheers RF my finger is poised on the buy button next week.

Very nice to see some new posts on here, i wish you all well if you decide to purchase
Its not been a easy ride in 2007 but we did end the year up, am hoping 2008 will bring greater rewards and the way we have started it's looking good
Keith

certainly a terrific chart, even if rsi may be indicating o'bought, but the markets are certainly pretty scary at the moment.

Think I'll wait a while and see if sp drops back a bit after recent rise before buying.

good afternoon little flower!

bonjour mon petit choux

les autres parleront de nous si nous ne sommes pas soigneux!

Cynic: have you been at the champagne again? ... Think we'd better not clutter up this (otherwise sensible) thread or pth will be onto us!

no - just been beavering away in the kitchen ..... 1 x monster chicken (poulet d'or) has been turned into coq au vin and for this evening, a single breast (enough for 2!) stuffed with fresh black truffle and butter (wrapped in cling-film and will then poach in same) accompanied by a fine bottle of '96 meursault ..... carcass already turn into stock!

You have indeed been working hard. That should be enough to invite us all for dinner!

Right you lot!, avez vous a cuppa !, not sure if I'm looking forward to tomorrow, I think most of the market will be down, with the probable exception once again of energy stocks holding up well, please no diabolical crashes again, too many in last few years for my liking, I find this market very difficult to short as well as cannot watch it all the time.

Some very good buying going on, it just gets better

It certainly does - glad I bought some this morning.

Well done Toya hope you reap some reward in the future, i have no reason to
think you will not,,, good to have you onboard
At some point from these dizzy highs we will have a healthy pull back, and then onwards and upwards

waited for some profit taking but none came so finally bought in mid afternoon--hope it does well again for the rest of the week.

Not good news here am afraid, but we still have other plays, the rig will now be going to our flagship project , so a little retrace now but over the longer term a miner blip

Afren PLC
14 January 2008



Afren plc (AIM: AFR)

Gabon Drilling Update

London, 14 January 2008 - Afren plc ('Afren' or 'the Company') notes the
announcement below from Sterling Energy Plc in relation to recent drilling of
the THAM-1 well on the Themis Marin permit, offshore Gabon. Afren has a 12.86%
stake in the Themis Marin permit.


'The THAM-1 well, Themis Marin, was drilled to its target depth of 1,330 metres
in 11 days, on budget. The reservoir target was encountered low to prognosis
with limited hydrocarbon shows and the well is now being plugged and abandoned.'


'The second well in the Gabon drilling programme, ICM-1, is scheduled to spud in
April in the Iris Marin licence (Afren 12.86%). This well has much higher
potential upside and is targeting gross reserves of 11-40 million bbls.'



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