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

delete

Let's not get too excited, many a time on results day ; a share will drop...perhaps not this time, because AFR is mighty impressive and vastly underpriced still, but the way things have been going ; when I've expected a sp to rise ; it falls....anyway we shall see....if there is a drop it will only be for a day or so !.

looking back at yesterday's trades, buy/sell were quite evenly matched though volume was 5x norm .... but then it was last trading day of fiscal year - see also YELL

that said, there will certainly be a lot of lemmings who will have bought in ahead of the results, so a fall-back is reasonable to expect

For those interested i've started a new thread with charts.
cyril

Still the same, regardless of results for the last year, I can easily imagine these being above 50p very soon !.

Cyril - please place link to new thread here

One thing is for sure : there are a heck of a lot of Money AM bloggers in this one !, that can't be bad !.

Nar1 the link you requested.http://www.moneyam.com/InvestorsRoom/posts.php?tid=13952#astread
cyril
ps you can also find it by clicking search putting the AFR the box.

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Could see us push back through the mark this week and on to new year highs. Plenty of news not far off, Should start the journey up to 1.50 to 2.00 before christmas. dyor & gla. P.s. sorry to mention the c word.

Whoops! wrong thread.

http://moneyam.uk-wire.com/cgi-bin/articles/201008050700325601Q.html