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

RF put it down to past experience,many traders sell on news which can effect the
SP and i still hold some which are now more than paid for. Lets hope for a further rise in the SP, if so i will be happy and not crying in my soup.
cyril
P.S. Used some of my profits to buy URU and IPL, the latter more short term.
cyril

Thats not a double post.

There's some sort of an echo here....echo..echo...echo...

quintuplets i think

Time for a chart..


60p today ..?

Just back in and i'm LOL, didn;t check my post(or should that be posts?).
Settled down for now,could see more action later in the day?
cyril
p.s. i really must get a new mouse.

it'll be interesting to see what if any comment the press makes

Cyril, you sure it's not too many whiskeys with the profit you made????

i foolishly jumped in too early or too late, depending on which way you look at it .... on the face of it, this share/company should fly, so just may try to catch the knife

I've 2 bottles of single malt which remain unopened, Glenoldie from the distillery on
a visit some twenty years or more and Glenmorangie which i won in a golf tourament well over 10years ago, i have broken into a bottle of Jack Daniels though, who knows i might finish it year end?
Real ales are my tickle,Abbot, Bombadier plus my local Reverned James, a trip to dorset introduced me to Old Thumper (champion strong ale)now that was something special.
Back to the market, i looking for CHL, IPL and PRL all due for results ITVNF, fingers crossed i might be able to buy my wife a new kitchen?
cyril

I enjoy a bottle of Hobgoblin but thats another matter..lol.

a camping stove should suffice

With this mornings RNS, surely the sp here can do better than just +3p, I would like to think that this stock should carry on up to the high forties from here....!.

Patience, patience - presumably profit taking today, but at the same time I'd have thought a new floor is now being established.

Then we can go on the next wave up.

All imo, DYOR etc etc

Agreed, and I've noticed that What's hot.com are tipping Afren.....which helps !.

does it? .... never 'eard of 'em, but shall be more than happy to see AFR go off like a rocket, and shall then prob sell before it falls like a stick! ..... actually, from what little i read this morning, this find is pretty hefty (i'll stop short of spectacular as that would be over-egging)

This looks good Cynic as we both agree....the find is tremendous,....the tip site is the sister website of t1ps.com.....can't take all their tips for granted but there are some excellent writers and comments on there.....frankly I think the best tips are here with our good bunch of bloggers right here !.

oh i think there are plenty here who just think i'm a (de)ramper and a total pain in the arse or even the arsehole itself!

confess i did not make the time to read the whole RNS, but prob should do

cynic something for you to think about.

Afren is fully-funded through its budget spending, and had a cash balance of $269 million, with net debt of $13 million, at the end of June. We dont need to raise finance, Shahenshah

Its transformational for us, Afren Chief Executive Officer Osman Shahenshah said in a telephone interview, adding the company will continue to look for further assets to develop. Were open-minded to anything in Africa, but we see the greatest opportunities in the Gulf of Guinea.

cyril

cyril ... think that was the bit i read .... anyway, i bought in twice, so am happy to wait and see