< "> edit this post http://www.investegate.co.uk/afren-plc-%28afr%29/rns/trading-statement-and-operations-update/201301210700069619
http://www.investegate.co.uk/afren-plc--afr-/rns/2012-full-year-results/201303250700107200A/

In an attempt to cut down the header page,i've transferred some of the older news to Page1 post No.3.

http://www.oil-price.net/index.php?lang=en
http://www.ft.com/home/uk

http://www.investegate.co.uk/Article.aspx?id=201111020700081674R
http://www.investegate.co.uk/Article.aspx?id=201111150700250723S
http://www.investegate.co.uk/Article.aspx?id=201112010705051251T
http://www.investegate.co.uk/Article.aspx?id=201201170700146472V
http://www.investegate.co.uk/Article.aspx?id=201201230701479690V
http://www.moneyam.com/action/news/showArticle?id=4323758
http://www.investegate.co.uk/Article.aspx?id=201204170700164488B
http://www.investegate.co.uk/Article.aspx?id=201205140700212304D
http://www.investegate.co.uk/Article.aspx?id=201205210700407032D
http://www.moneyam.com/action/news/showArticle?id=4430164
http://www.investegate.co.uk/afren-plc-%28afr%29/rns/significant-new-seychelles-3d-seismic-programme/201212120700052973T/
http://www.investegate.co.uk/afren-plc--afr-/rns/2013-half-yearly-results/201308230700063334M/
http://www.investegate.co.uk/afren-plc--afr-/rns/ogo-drilling-and-resources-update/201311190700083404T/
http://www.investegate.co.uk/afren-plc--afr-/rns/trading-statement-and-operations-update/201401280700096280Y/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201405200700135209H/
http://www.investegate.co.uk/afren-plc--afr-/rns/interim-management-statement/201410300700116483V/
http://www.moneyam.com/action/news/showArticle?id=4942625
http://www.moneyam.com/action/news/showArticle?id=4943375

Great news....this will be worth 150p like I said...patience....the sp will rise as long as oil remains at this level...

with sp slipping back to opening level, arguably a good time to top up

I am expecting this to go to 120p very soon with ups and downs all the way to 150p sometime this year.

1053 GMT [Dow Jones] Credit Suisse nudges up Afren (AFR.LN) price target to 121p from 161p as the Ebok-6 appraisal well beats pre-drill expectations. Credit Suisse says successfully bringing the Ebok field on stream in 2Q '10 would give credibility to Afren as a field operator, which the brokerage thinks could lead to further deal flow and opportunities in '10. Credit Suisse thinks Afren's excess cash could fund further accretive acquisitions around the Ebok area in Nigeria. Afren should also be included in the FTSE 250 index, come March '10. Outperform rating. Shares +1.9% at 105p.

up or down 121p ?.

Good point required ,,i think it was meant to read that they upped their target to 161p from 121p ..

Bought more today ,something i dont usually do. The future looks bright.

A slightly contrarian note from the FT today:
"Successful completion of the Ebok 6 well is an undeniable positive for AFR, given the upgrades in volumes they are booking on the back of it. Still, until I know what the word 'technical' is supposed to mean in the press release, the announcement that gross technical recoverable volumes have increased to 23mmbbl from a pre-drill estimate of 8mmbbl, I cant bring myself to get overly excited. AFR have a justified reputation as one of the most aggressive reserve bookers in the sector (witness the upgrade to reserves on acquisition of Okwok from Addax, despite no wells drilled), and a very high R/P ratio is always a sign of aggressive reserve bookings (remember VPC? Same thing). Given the discrepancy between internal reserve estimates and the recent NSAI independent report, I'll wait for production to come onstream or for independent certification of these reserves before getting excited."

Harry note of caution justified in our opinion as directors have every reason to ramp up reserve estimates as they are sitting on a load of shares.

halifax - is that not generally true? ..... surely you'ld (rightly) be even more circumspect if the directors held very few

cynic recent acquisitions/options give the game away.

Well i've top sliced heavily and taken some good profits. Having watched
bloomberg over the w/end it was reportrd that the most successful
businessman//trader in Singapore believed our markets are due a correction and maybe as nuch as 20%.So i've reduced across the board as a precaution.
cyril

halifax - i nearly always pay attention to your posts, as bye and large they are pretty sensible, unlike mine! ..... i would merely observe, without gainsaying you, that unlike some companies on this bb, at least the options are at a premium to the current sp - which is exactly as it should be

cynic correct, but having experienced the disappointment that was SEY's Chinguetti discovery offshore Mauritania would discount claims of increases in reserves until they have been pumping steadily for a few months.

you sure can't win 'em all, and that applies especially to oil wells, where even the best only reckon a 25% strike rate - hence TLW's amazing record of late

halifax, Chinguetti i remember it well,75kbopd?
cyril

1146 GMT [Dow Jones] Citigroup nudges up Afren (AFR.LN) target price to 126p from 120p after the company's successful appraisal wells at Ebok-6. Says the Ebok-6 appraisal well has exceeded pre-drill expectations. Citigroup says the news is a strong endorsement of Afren's understanding and interpretation of the Ebok reservoir. Adds that there is considerable upside potential remaining around the Ebok-Okwok complex. The brokerage says Afren remains one of its top picks for '10. Keeps at buy. Shares -3.3% at 102p.

do these pundits know any more than good friend shoddy?
has young shoddy become too cynical in his dotage (young alludes to second childhood perhaps)?

hard to know, but for sure these things are never a smooth ride

what are you on about, think you've lost it now cynic. must be the broth & bromide combination.

cynic bullshit and brains spring to mind.