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

what happened to results?

they were out last friday

No the annual results are out today,fridays was for the Ebox field. Anytime today
is ok, no need to post at 7.00am.
cyril

Why do you call it the Ebox field ...... ? lol

577 A post of monumental importence.
squelched.
cyril

It seems the results are being delayed a few days, due to the auditors?
cyril

i don't care for delayed figures, but let's hope the results just come out late today and with good news ..... with the CEO's comments on friday, it will be more than a kick in the teeth iof the numbers now disappoint

ceo says nothing to worry about but delayed for a few days ---technical hitch at the accountants!! for those with faith this is another chance to get in before tomorrow's presentation--unfortunately I have no spare left to add to my holding. cynics might say --just as well!

cynic is an arsehole and topped up at 39.0

Profit taking today, but the pullback should bring the buyers back !....50p plus still on as long as no oil price drop !.

pullback is more likely due to with the disquiet of delayed results.
it either IS something to worry about, or time to sack auditors .... i hope the latter

just as importantly, AFR should have put out a soothing announcement about this delay - i see none - which is just basic, good and sensible PR

Moneyplus and Niceonecyril say there is a hitch of some kind,.....not very clever from Afren.....why not inform the shareholders with an announcement of some kind that there is a small delay !.

new rns says figures monday 6th april

.

Well we know now,remember they're presenting ar Oilbarrel today, so the
market will be better informed?
cyril
PS. check URU, some very interesting developments?

The RNSseems to have done the trick,plenty of buys coming in.
cyril

Yes, that's better from AFR !.

500,000 to 33,000, the man say "yes"

cyril

Here's a stock worth checking out,IRV copied by a very smart barra boy.


It's cheaper than that - 28.7p or more Div here over 55 weeks.

If you're a long tern buyer and net that divi off then over 57 weeks these shares cost you 158p - the PE would be 3.6 on that basis.

Not only that but director buys in the past week:

23.2K @ 213p
17K @ 200p
13.4K @ 199p.

How much hand holding do investors need? I can only think the punter out there are just shell shocked and think these are too cheap to be true, as they did with WSH @ 180p recently.

Earnings grew 16% in this recession, the divi was raised 5%.

Where are the true investors? There will be punters screaming about buying these so cheap @ 3 on a PE of 6 in the not too distant future imo.
cyril

"very smart barra boys" know how to gull people very well indeed and walk off with the dosh!