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

You never know what to expect...I thought a gentle steady rise would come...now it's like a takeover bid is coming....testing results coming ?,.....in a way I hate these sharp rises because it always seems to happen when I can't watch and before you know it ...right back down the sp goes....

28.25p...oh boy !....

RF i thought i'd leave it to someone else to point out? Flying once again, wonder if
they'll beat the 20m traded yesterday?
cyril

I'm thinking of staying put but this sharp rise is making me itchy.....for the moment staying put.....I just hope that there is no sudden drop !.

And results and news still to come !!!!!

Slipping back...Ebok's test results ; "much awaited".....if the tests are anything around 10000 barrels of oil per day and 40% for Afren....I'd like to think that : that is a positive outcome !, anything more would be superb !...perhaps I'm being too optimistic and that the market has already priced this in perhaps ?.

It looks like the seller's back in town(maybe a few of peeps taking profits,worried about the drop), for me it was buying opportunity, small profit at the minute? What hasn't changed is the date for news, 7 more trading days after today and Ebox could come sooner?
I'm happy with this company and will continue to hold with the intention to top up further on reciept of news?
cyril

cyril I agree-this still looks way undervalued. It is actually producing a decent quantity of oil already and has fantastic prospects. It seems to have been lumped in with all the small og companies that have no cash and no decent prospects. I 'm holding a few ---GL. for a multi bagger!

Looks like ...oilies (the smaller ones) are coming back into fashion again...(the ones with assets that is and some cash to hand !).

Gr8t week get ready to fasten seat belts monday morning!!!!!!!!!! Have a gr8t weekend and good luck to all. 8-)

Any view on the large number of sells, would have thought you want to keep themuntil the results at least !

pumben - debatable if in fact they were sales - see the times of the last 2 trades were 08:19 at 25.65 - these would therefore most likely have been buys.

Whilst I don't believe that these are sales - In any event the "seller" could have acquired these at a lower price, so who cares if they're selling into strength ?

Why the rise this pm..?

By Neil Hume and Bryce Elder

Published: March 25 2009 02:00

Exploration group Afren continued its recent good run, rising a further 20.5 per cent to 33p. The company is due to report annual results next week and traders reckon Afren will also reveal an audited reserve report on its Ebok field in Nigeria. They also believe the company could provide an update on how it will fund development of the prospect.

http://www.ft.com/cms/s/0/e6017132-18ea-11de-bec8-0000779fd2ac.html

cyril

Really flying now, oil companies that are producing, drilling, with funds and coupled with some exploration and with crude on the gentle rise are benefiting !.

nice article cyril.

Wow flying even higher now.

Deutche Bank sold them down to silly low prices and now has been buying back steadily to own over 4% --manipulation or what!!

Have you got it yet..?

Fantastic news, hold tight we're taking off.

160p is my target in a very short space in time.

Good luck all holders, and don't sell too cheaply.