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

move to main market was planned last year but the credit crunch dive in the markets put this on hold but I also look forward to putting this one inside an isa. It has been stated on the other side that the funding issues were putting a damper on the sp rise--this has now been addressed so what's the next excuse I wonder?? over to you cynic!

LoL cyril.
This is looking very good now, placing price news digested and now tally-ho to the main markets. Pretty shrewd work here, well done the management. I see no stopping this honestly.

Result of Placing (Afren)





TIDMAFR

RNS Number : 6017Q
Afren PLC
15 April 2009

?
15 April 2009


Afren plc (AFR LN)


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES


Result of Placing - GBP84.8 million ($126.3 million) Raised


Afren plc ("Afren" or the "Company") announces that it has raised GBP84.8
million ($126.3 million) before commissions and expenses by the placing
completed today of 265 million new ordinary shares of 1 penny each in the
capital of the Company (the "Placing Shares") with institutional investors at 32
pence per share (the "Placing"). Merrill Lynch International ("Merrill Lynch")
is acting as sole bookrunner and Jefferies International Limited ("Jefferies")
and Morgan Stanley Securities Limited ("Morgan Stanley") are acting as co-lead
managers, in relation to the Placing.


The Placing represents in aggregate approximately 59.3 per cent. of the issued
share capital of Afren prior to the Placing. The Placing Shares will, when
issued, rank pari passu in all respects with the existing issued ordinary shares
of Afren, including the right to receive all dividends and other distributions
declared, made or paid after the date of issue.
cyril

Sold one quarter of my holding earlier on to bank a profit, wish I hadn't now....could have waited for weeks for this excellent result !.

Will the fact that the placing was at 32p a share slightly suppress price in the run up to 5 May 09?? Anyone think we may see 32 to 35p again?

placees will undoubtedly be locked in for a good period, but sp may go to sleep for a bit depending on general sentiment.
today, even the blue sky mini minnows are having a good day

Makes you wonder why they didn't release this along with the other news??
Looking for a new entry point? With 32p the placing price then it could retrace some once the initial re-action has settled down??
Not holding my breath though.

silver, more than likely when today's fizz subsides, inevitable even, but just a few pennies and the upside after then is huge imo.

What I meant was, I think the placee's will keep most of what they got, but an instant return from 32 is too much to ignore given there are a good few weeks inbetween.

my guess is that will have had to undertake not to sell any of their holdings for 6/12 months

same as HAWK's had LoL

no idea on that one .... do i take it that they took it and dumped?

Not all but some did. Placed well under current sp, kept the sp flat for a long time and made for some very unhappy traders. It may well happen here for a similar time, would you ignore 5p if you had a few tens of millions?

Taken from another bb below is email by Afren to me this morning

Talha

Please find attached, released earlier. Note, we were 100% covered on the intended raise going into market opening, showing a tremendous support by existing shareholders. While I am sure you will get some pushback on dilution, its important to note the following:



* The Ebok Early Production System is fully funded now, unambiguously. Phase II will be funded out of internally generated cash flow. We are targeting full field production of between 35-50kbopd.



* 2011 exit rate takes Afren to the top end of UK quoted universe. A fully financed Ebok is a game changer for Afren, which significantly outweighs the equity dilution.



* Strong support by existing shareholders in the challenging environment is a very big vote of confidence.



With the financing overhang removed, the share has no upper ceiling again.



Very best
Galib

Yes blanche, the news is excellent.

What happens over the next few days and weeks, with promise of those millions of discounted shares burning a hole, is what has our attention right now. Don't be too upset if we are red for a few days. It happened to HAWK after a similarly discounted placing but it does pass.

On the other hand, don't be surprised if the sp rises; AFR's potential may well be enough for those discounted shares to remain in the hands of the purchasers!

could do with a drop so i can get more shares for my money :)

kimoldfield - they still can make serious money and hold those shares if they work the market correctly.

gnashl2, Short term things dont bother me. Iam here for the long term and 65000 boe in 2010. Loads of money!!!!!!!!!!!!!!!! 8-) Good luck to all

blanche, same here in at 35, not sweating, much...

With your healthy attitude, take a look at HAWK.