< "> 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

I'm a sea of red this am,posibly to with the March positions via spreadbets beig closed?
cyril

I think we will still finish the day blue though.

What have the MMs got to do with it?
AFR is a SETs stock.
MMs are not even anywhere near the Bid or Offer.
Usual lack of knowledge re the stock market and when it goes down let's blame the MMs.

Down boy!!

deteriorating political situation in Nigeria is not helping the sp.

Huge buying at the end of the day ,,,am i right in thinking it's official FTSE 250 entry on Monday.

niceonecyril ,i just read your post ,it is Monday .

it's certainly reshuffle day, so i assume with immediate effect

Good , this is one stock i'm hoping to hold on to ,all being well ..

Some real excitement around the boards,with joinijg the FYSE250 tomorrow,but its the hugh bumder and size of late on Friday,one of over 30mUT. So fingers crossed for a special day's trading?
cyril

London, 25 March 2010 - Afren plc has finalized arrangements for a new up to US$450 million reserves based lending debt facility.

"On Wednesday 24 March, a facility agreement for up to US$450 million was executed by Afren. The up to US$450 million of debt, secured against the Ebok field reserves, has a maturity of a maximum of five years, is repayable semi-annually and has a margin of between 4% to 5.5% over LIBOR.

The three Mandated Lead Arrangers and Technical Banks, BNP Paribas, Crit Agricole Corporate and Investment Bank and Natixis will support the initial development funding of the Ebok field. Subject to certain conditions being met, the Facility shall extend to the development funding of any subsequent phases of the Ebok field, the Okwok field, OML 115, or other development projects located in Oil Mining Lease 67, offshore Nigeria."

150p by the end of the year....that was my target....it might get there...

broken through the 1 now it has to hold on to it.

Great news,little chamce of dilution,allows Afr to go for it.
cyril

Think we will get some very good news here Monday. Should see us to new highs for the year. 1.10 plus imvho next week.

This is great 200p by xmas.

niceonecyril, I agree with that up to a point, but each time they draw down on the debt facility, the sp will be hit, though to a lesser degree than if there was a cash call. This way at least they know the cash is there, rather than having to go cap in hand to investors, but that is still a great deal of debt (if taken) repayable every 6 months at 5% over the inter-bank rate.

mitzy...what ever your on......i want some!! lol

Harry,however one looks at it the pipeline expenxes have to be met and fund rasing is the function of the market. For AFR to be able to draw on the higher figure would mean that Ebok is a great success,so i see only positives from todays annoucement.Those who are lending wil imo "know"what's going on at Ebok,it's as
you mentioned a very large amount if miney.
cyril

With production somewhere between 50000 to 100000 barrels per day coming : the debt is very easily managed.