Investors' Room :: AFREN (AFR) Is this the next TULLOW??? - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

niceonecyril - 04 Apr 2009 08:30

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Chart.aspx?Provider=EODIntra&Code=AFR&Si

boxerdog - 29 Sep 2009 17:44 - 370 of 3666

Would like to think that tomorrow is the first step in buying me that new jag.

goldfinger - 29 Sep 2009 17:58 - 371 of 3666

Would like to think that today is tomorrow.

cynic - 29 Sep 2009 20:41 - 372 of 3666

Exploration and consolidation are the major value short-term drivers in the African oil exploration and production sector, says Arbuthnot.
The broker starts with recommendations on four stocks: Tullow Oil (buy), Heritage Oil (strong buy), SOCO International (strong buy) and Afren (strong buy).
Preferred picks are Afren and SOCO as they offer investors the greatest upside potential.

goldfinger - 30 Sep 2009 00:39 - 373 of 3666

Afren afr bounced off both the 25 day EMA and also the floor of an uptrend channel that as been in place since March/April 2009. Targets are shown on the chart, looks like its got a lot going for it especially with high Oil prices here to stay.

goldfinger - 30 Sep 2009 00:39 - 374 of 3666

NB, flower should read floor.........petal.

cynic - 30 Sep 2009 07:48 - 375 of 3666

Stupid boy, Pike!

goldfinger - 30 Sep 2009 08:11 - 376 of 3666

Long day at the office cyners and have a big day or two getting the gardens ready before the winter sets in........I detest it but Im too skinny to pay for a gardner.

Good start for AFR.

cynic - 30 Sep 2009 08:13 - 377 of 3666

i fear the forecast is pretty grim ..... and i'll have to be out in it playing golf too!

mwoolgar - 30 Sep 2009 08:22 - 378 of 3666

sounds awful...especially when you get home and find you have made another grand or two

goldfinger - 30 Sep 2009 08:38 - 379 of 3666

Interesting recent comment...

28.09.09 :-3.25, (74.25) Afren PLC said the success of companies like Tullow Oil PLC (TLW.LN) near its own assets in west Africa raises the prospect of it making major finds there. Chief Executive Osman Shahenshah told Dow Jones Newswires Tullow's huge discoveries in west Africa aren't far from its own holdings in Ivory Coast and Ghana, where it plans to drill in a major exploration campaign over the next 18 months. Afren's block in Ivory Coast is on the border with Ghana and Tullow's 1.2 billion barrel Jubilee field is on the other side of that border, he said. "That's very exciting for us," Shahenshah said. Earlier this month Tullow and its partner Anadarko Petroleum Corp. (APC) said they made a major discovery called Venus off the coast of Sierra Leone, raising the prospect of further finds in an area stretching through the waters of Liberia, Ivory Coast and Ghana. "Increasingly, with every drilling success, of which there have been four or five in the past three months, that raises the prospectivity of our acreage and lowers the risk," Shahenshah said.

goldfinger - 30 Sep 2009 09:41 - 380 of 3666

Late yesterday positive broker note out....

Sep 29
2009 Afren

Growth on track
During last weeks interim results, management reinforced that Afren is on track to almost quadruple production by the end of 2012. Afren trades at par with its peers based on EV/2P valuation and we think it does not reflect above sector-average growth upside. Timely development of the Ebok field and successful results from exploration drilling in Congo, Ghana and Cote dIvoire are near-term catalysts. Its improved balance sheet eases pressure on funding the development programme.
Research type: QuickView - Interim results

http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=2256

cynic - 30 Sep 2009 09:51 - 381 of 3666

when and where's my drink?????

ellio - 30 Sep 2009 09:59 - 382 of 3666

As said, the results looked pretty good, and this could deliver massively, if Tullow/Soco are the models, 10+ in 3yrs? this could as we are all starting to realise have huge upside potential, top-up now!! (sorry if this is seen as ramp, buyer beware and buy on your own decisions please.)

cynic - 30 Sep 2009 10:06 - 383 of 3666

just for reference, here's a 5 year chart .... another one with potential resistance at 90?

Chart.aspx?Provider=EODIntra&Code=AFR&Si

goldfinger - 30 Sep 2009 10:11 - 384 of 3666

and state-owned energy companies interested in partnerships to develop fields off Ghana and Ivory Coast. Weve been approached by a lot of people: large Asian oil companies, a couple of majors and a couple of NOCs, or national oil companies, Chief Executive Officer Osman Shahenshah said in a telephone interview today. Theyre very interested. The explorers CI-01 field in Ivory Coast is adjacent to Tullow Oil Plcs Jubilee field off neighboring Ghana. Tullow shares jumped in London last week after the company announced a deep-water discovery at its offshore Venus B-1 well in Sierra Leone. The discovery suggests offshore fields extending from Sierra Leone to Ghana may hold as many as 6 billion barrels of undiscovered oil, Tullow Exploration Director Angus McCoss said last week. Afren shares dropped 1.75 pence, or 2.2 percent, to 79.75 pence at 9:02 a.m. in London, after the company said its first- half net loss widened to $38.5 million, or 7.3 cents a share, compared with a loss of $26.8 million, or 8.6 cents, a year earlier, Afren said in a statement today. The explorer will drill at least five wells by the end of 2010 and would consider as many as nine if it had a partner, Shahenshah said. Afren had $153.3 million in cash as of June 30 and net debt of $194.9 million.

aldwickk - 30 Sep 2009 19:14 - 385 of 3666

Goldfinger,

Do you still run your contract cleaning business ?

goldfinger - 01 Oct 2009 00:54 - 386 of 3666

Heavy Industrial cleaning business.

Nope not anymore aldwickk but I still have a controlling interest. But placed a young CEO chappie in.

Took retirement this last xmas.

Balerboy - 01 Oct 2009 08:13 - 387 of 3666

Retired at 36..... wonderful.:)

goldfinger - 01 Oct 2009 08:25 - 388 of 3666

51 but 41 to any available young women who like a bit of mature.

Balerboy - 01 Oct 2009 08:28 - 389 of 3666

GF, in the days of SEO being hot toppic we had an E.W.Robson on the board, never see him now any idea why?

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AFREN (AFR) Is this the next TULLOW??? (AFR)