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

well they should be pumping oil out by now... and they gonna have some more acquisitions soon...

Like wow, what a chart, if only it would guarantee to keep performing the same as it has the last 6 months...

Looks to have stepped up a gear today, another ATH i wonder how long before first oil,whispers tell me soon
I will be cracking open the bubbly soon when we hit 200p lol

news of first oil is expected before the end of May---I read on the other side. Potential giant here---I wish I had more than just 7000!!

Seems like a VERY good growth stock not sure how much good news has already been priced in ?

Been watching for sometime for a drop to get in unfortunately for me it keeps on rising. However RSI is reaching oversold territory !

Am the same moneyplus on the winners we all wish we had more, but at least we are making money
This is making up for some of my not very good investments -)

The rise today could have something to do with Gasol which Afren is the bigger brother, its all cooking up very nicely

Found this from The Times dated 04 April - knew I'd read something somewhere:

"Afrens attraction, reflected in the more than sixfold rise in its shares since it joined AIM three years ago, is the speed with which it has assembled a portfolio of 17 exploration and production areas in seven African countries. Assisted by a well-connected board it is chaired by Rilwanu Lukman, former secretary-general of Opec and strong indigenous links, Afren has bought or taken stakes in oil and gas prospects too small for the majors. It also has a deal with Germanys E.ON to investigate Nigerian gas exports.
"With Afrens first oil an expected 15,000 barrels a day from the Okoro Setu field offshore Nigeria not due to flow until next month [i.e. May], the company remains at a critical stage of its development."

So, I guess we should be hearing about some oil flowing any day, hence the steep rise. - Thanks Moneyplus, for reminding me about this company!

Yet another ATH to round off a very good week and we have our oil to come

good day all round for me. makes a change!!

Afren doing very well....!

This just keeps going up & up & up & up AND UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Its becoming quite a star now, we are up almost 80% from the start of the year and more fuel in the tank for us to continue during the remainder of 2008

Good morning blanche its good to hear from you

Morning Kieth, Still alive and kicking as they say. Haven`t brought any over the 120 mark. Now wish i had but i suppose thats just being greedy, but from 53p upto 120 is a nice spread. This is definately the star performer in my portfolio at the moment. I cant see anything to hold it back, Main Listing here we come, and multi pounds in sp! at sometime in the to distant future.
P.S Hope youve had plenty of the bubbly stuff on its journey north, the way its been rising probally every other day. 8-)

As you say Blanche plenty left in this one imo.---rise very similar to DGO which I sold far too early ditto TLW --I won't make the same mistake again! Oil producer expected any day now, main market before the end of the year and the last fund raising was sold out in under 30 mins at 1.25p!!!

Hello moneyplus this could get to DGO levels in my opinion, even though i brought in early iam in for the long haul hopefully as i said up to DGO levels.

I hope so too--good luck.

Sold a few at 182, which i bought friday at 159.

At long last our first oil

RNS Number : 3302W
Afren PLC
09 June 2008



Afren plc (AIM: AFR)




Afren announces First Oil from the Okoro Setu Project




London, 10 June 2008 - Afren plc ('Afren' or the 'Company') and its partner Amni International Petroleum Development Company ('AMNI') are pleased to announce First Oil from the flagship Okoro Setu Project, located in OML 112, in shallow water offshore Nigeria.




Highlights




In June 2006, Afren announced the agreement signed with AMNI, a well established indigenous oil & gas company, for participation in the development of the Okoro Setu Project.
During 2007 the partners received approval of the Field Development Plan and secured a Floating Production Storage and Offtake Vessel ('FPSO').
In Q1 2008, development drilling commenced from a subsea template using Transocean's Adriatic-6 jack-up rig. The 10-point fixed mooring system for the FPSO vessel was installed in January and the Armada Perkasa arrived in March 2008 and was hooked up to the anchor system.
In May 2008, the wellhead platform was installed and flowline connections are progressing.
Initial production from the first of two wells drilled to date has commenced at a rate in excess of 3,000 barrels of oil per day (bopd) of 27 API gravity oil, which is in line with expectations.
The remaining wells will be batch drilled and the Company is on track to achieve full production of 15,000 bopd in Q3 2008.
Osman Shahenshah, Chief Executive of Afren, commented:

'I am delighted that Afren has achieved its first organic production, a key milestone in the Company's history that underlines its operational strengths and technical capabilities.




'We have worked in close cooperation with our indigenous partner AMNI International Petroleum Development Company and it is testament to our relationship that we have delivered First Oil in just two years since announcing the agreement to develop the Okoro Setu Project. We look forward to accelerating the development of further undeveloped reserves in Nigeria together with our indigenous partners.'




Sani Bello, Chairman of AMNI, commented:

'We are very pleased to have delivered First Oil on the Okoro Setu Project. This is a significant achievement for the AMNI/Afren partnership and represents an important contribution to the rapidly expanding indigenous oil & gas sector. '




10 June 2008

15,000 bopd in Q3 will do for now,great start foir first year of oil productioin,great pootential,hope will rise and rise like DGO,[although dgo sluggish past few months].any views.