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http://www.investegate.co.uk/afren-plc--afr-/rns/ogo-drilling-and-resources-update/201311190700083404T/
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Is Goodluck Johnathan good for Afren?

70 Looks like a good entry to go long, or if short get out quick! Good stock to watch!

i fully concur CC. Had a shedfull of these at a mean ave. of 39p....sold 50% prematurely at between approx 93 and 97p thus giving me a free ride om remainder. . / Now looking at re-entry - 70p would be ideal! But with support level - nothing tangible tho - will will see 70p in a hurry/ again ?? irrespective of ,Yankee resrves at a new high , price of crude dropping and euro debt woes inhiniting growth ...70p would be great entry point tho....l was looking for anything below 75

despite the strong(er) $, US Light is still above $74.00, and frankly, i don't think it matters much as long as it stays above $70 or even perhaps $65 ..... the other bits you mention are also fairly irrelevant except insofar as they MAY affect sentiment.

AFR's progress will be based on its progress(!) in extracting its oil, for it already looks to have made the right friends in gov't

mkt sentimesnt is everything Mr, C - thats my point . lgnore euro debt at yr peril .....,Answer my Q . 70p real or unrealistic ...a simple yes or no will surfice..........Despite govt connecttions it has twice failed despite a great deal of huff and puff to breach 100p for 10 consec days

73 and rising is 200 dma mark

72p next support level if this little rally stalls and reverses. Really needs to maintain the latest uptrend folllowing the failure of the original at 92p

If it does drop 75p or less here's some reasons for getting in?

Active 2010 work programme

19 operated wells (exploration / appraisal / production) in firm schedule for 2010

Phase 1 Ebok development - 15,000 bopd (7 wells)

Accelerated Phase 2 Ebok development - 20,000 bopd (6 wells)

Okoro infill drilling, Nigeria (2 wells)

OML 115 exploration, Nigeria (1 well)

Ebok deep exploration, Nigeria (1 well)

La Noumbi, Congo (1 well currently drilling)

Okwok appraisal, Nigeria (1 well)

Total discretionary capex of US$430 million, funded from existing resources

cyril
ps FEP have just been awarded their lonh awaited service contract,worth checking out.

Slt mon amis !! A Mr. C states AFR ( as with most oiles will either sink or swim acc. to its OWN merits): but this mkt when in reverse mode initially overexxagerates the decline only to correct usually next trading day ln short :lt tends to wash baby down plughole with bathwater . So simply a case of waiting and watching then - in the hope of 75p .......lncidentally if sub 72p was breached i would consider it oversold and be in big time. Phew FEP !! up 21p....l have a few ks worth but nothing worth getting exited about

If it breaches 72p, I'd wait for 60p!!

well thats logical and rational thinking PTH; but i personally think 60p is a giveaway.-AFR has too many irons in the fire .Surely it would take a general sell off to sink to that degree ....ln saying that ......qui sait ? .....without app. nosey -Do u have a position in AFR , and at what price ?,,,,,,,,,Acc to a notorious shorter-who is my neighbor as it happens ) AFR is his only really BIG long

TFC - no position in AFR at the moment. I'd probably prefer to be long rather than short, but happy to wait for a safer entry or even miss it altogether, it all depends on SP performance relative to existing trendlines over the coming weeks.

To be fair, AFR technical analysis is no different to many other stocks at the moment; I spent hours last night drawing trendlines on FTSE stocks and a large percentage have breached trendline support established post crash. Perhaps a bigger correction is on its way??

Yr sentiments very similar to mine PTH !! And what is more u could be very right !!! l noticed identical criteria reg post crash trendlines while investigating retailers sector and thats why i am short on a plethora of stock with high gearing ect ect ........Mr. C thinks i am brave in declaring i am short on so many - but i think history repeats itself ( sometimes very quickly),people have very short memories,( esp in this game ) and the mkt is back in bubble territory. ...Cash is king !!

TFC the bubble burst last year.

yes i agree H; but last year was last year ..........Since then many stocks have reached their pre-crash highs and are ripe for correction ...........This is not the start of any bull mkt. At best the mkt is neutral ...........and looking at futures mkt it looks overbought .....

it's certainly a very dangerous time and nimbleness of foot and finger is paramount

If your trading it is ,,depends on your time frame ...Really hope i dont get stopped out here as i believe in the future ,may have to bend my own rules....

i don't think there is more than perhaps 10% downside to AFR, unless markets get seriously rattled; in which case all bets are off

Hope your right ,,i am still in profit here and as the heading says thought this may be the next Tullow...

i didn't write that, but though that may be a bit hyperbolic (for BB that one!), i would have thought a very rosy future will ultimately be in store