< "> 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

Looks like 120 if the results are good and maybe a massive over spike to 150 is not out of the question medium term, that's a lot of money backing these guys, either they've got a great salesman or the prospects are incredible. One would hope there is something in the background to tempt this financial backing.

It's going to have production like Tullow Oil by the end of the year...there's no doubt that with oil holding the $80 mark that this is undervalued on nearterm earnings.....the sp has got to go higher !.

+/-$80 is certainly the (new) natural level for crude

and $100 plus in 2 months time dont forget..

can't work out how to blow a raspberry on here otherwise i would

Mitzy ? where do get the idea that oil is going to jump $20 ?....not impossible...but improbable.....

Great finish today , someone has a lot of confidence in the company to back them with that sort of cash.

Its such fun this thread

rf I am expecting a major terrorist incident in early 2010.

I wouldn't disagree with mitzy on that one...it's been over due for sometime.

but even if oil then spikes, though the reverse may happen, it will be no more than a temporary blip

Could be cynic but if it involves Iran who knows.

Hopefully this will go up on it's own merit without a terrorist incident.

what a lovely RNS....why can't they all be like this one. should rise nice and steady from here on.

Brilliant rns! Onwards and upwards fste 100 here we come.

Business Financial Newswire
"Independent oil and gas firm Afren posts a statutory net loss of $16.8m for the year to the end of December - down from $56.1m last time.

Turnover rose to $335.8m - up from $42.5m in 2008 - with a normalised net profit of $50.7m compared with a loss of $96m previously.

Chief executive Osman Shahenshah said: "In 2009, Afren recorded a 100% appraisal success rate at the Ebok project and realised its first full year contribution from its producing assets.

"With first oil expected from the Ebok field in October 2010, and an active exploration and appraisal drilling campaign planned over the period, we are well positioned to deliver significant reserves and production growth, realising the full cash flow impact in 2011.

"With a strengthened balance sheet we have the financial flexibility to deliver long term growth."

Time to top up!!
Will not be under a pound for long!!

105 is proving to be a very stubborn resistance - see chart

Have been watching the chart & can't make my mind up which way the sp is going in the short term. Converging DMA's should provide good support, but as first oil expected only in Oct '10 (should have been may), might see this trading sideways for a while. However, Afren is also drilling two potentially high impact exploration wells in 2010 Ebok Deep, which is expected in the first half of this year and OML 115, so still some drilling results to come.

105 is proving stubborn ,however all good news going forward this year (ramping up production),lets hope it stays that way . This is a strong hold for me ..