< "> 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

Afternoon pullback on the OIL price was felt on AFR also falling to 75.15p close to intraday low of 74.50p last Friday
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U.S. Stocks Close Mostly Lower

Stocks finished mostly lower Monday, reversing earlier gains, after a slide in oil prices prompted heavy selling in energy stocks and spurred renewed fears over the health of the global economy.

The Dow Jones Industrial Average fell 24.28 points, or 0.1%, to 17366.24, wiping out modest gains that earlier pushed the index to a fresh intraday record of 17410.65. Energy stocks lost the most ground, with Dow components Chevron down 2.6% and Exxon Mobil shedding 1.5%.

The pullback followed an afternoon selloff in the oil market after Saudi Arabia announced it would cut the price of its crude to the U.S., suggesting the kingdom is aiming to undercut once-thriving U.S. producers. Crude-oil futures shed 2.2% to settle at $78.78 a barrel, their lowest finish since June 2012.
Prices have fallen 27% from recent highs in June.

down to 72.75p at one time though it was a spike, that was close to the 72p support

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Oil Slides on Speculation About Saudi's Pricing Strategy - 04 Nov 2014, 4:30am

Crude-oil prices extended losses in Asian trade Tuesday after falling sharply overnight, with the U.S. oil benchmark dropping to its lowest since June 2012.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $78.38 a barrel at 0402 GMT, down $0.40 in the Globex electronic session. December Brent crude on London's ICE Futures exchange fell $0.37 to $84.41 a barrel.

Oil plummeted after Saudi Arabia, the world's top crude exporter, adjusted prices for its December cargos. The oil producer lowered its price differentials for sales to the U.S. but raised the differentials for its Asian customers.

While the price adjustments were not as severe as the cuts for November, the lowering of prices for the U.S. market was interpreted by the market as stiffer competition against U.S. domestic crude production, traders said.

The pricing of Saudi Arabian and other Middle East oil producers for the U.S. market is based on the Argus Sour Crude Index, a basket of prices that's much lower than Asia, where oil fetches a better price. So it makes more sense for oil producers to corner the Asian market where premiums are higher, traders said.

OIL price falling to $76 down $2.80 at 10.30am

and AFR moving to just under 72p at one time ( 71.925p )

With OIL prices falling this way, there is not much point on buying the stock yet as the 72p support was broken too easilly

The stock is getting bludgeoned. Patience will pay for the ones already in, but I will wait further for another support point
Both oil prices and AFR are now falling Knives

« Catch A Falling Knife» ?

As per post #2551, if AFR have hedged their production above the $90 pb level, not sure why the sp is directly geared to the current price pb.

How long is it edged ?

See post 2551.

hedged 5.2m bbl at a floor of $90 to $95 thro to June 2015

Hedge is now 4.9m bbl at a floor of $90 to $95 - July 2014 to December 2015.
Afren hedge between 25% and 35% of production on an 18 month basis.

Afren 69.78 -7.15%

Other OIL related stocks on the way down at 15:00pm

Ophir Energy 177.75 -6.40%
Tullow Oil 463.85 -4.02%
BG Group 1003.50 -3.14%
Petrofac 1047.50 -3.01%
BP ........ 433.13 -2.38%

------------------------------Slow stochastic ---------

Ignoring the 2008/9 financial crisis drop, next support somewhere around the 60p level?

EDINBURGH, Nov 4 (Reuters) - Britain's top equity index edged lower on Tuesday, hit by losses in heavily weighted oil and gas stocks after the price of Brent crude slid to its lowest in four years.

Falls in the oil and gas sector took 26 points off the FTSE 100, which fell 11.77 points, or 0.2 percent, to 6,476.20 at 1502 GMT.

Tullow Oil fell 4.1 percent with heavyweights Shell and BP both down over 2 percent, as Brent crude fell near $82 a barrel - extending losses to a fourth session after top oil exporter Saudi Arabia cut prices to the United States.

The FTSE 350 Oil & Gas Index weakened by 2.5 percent.

"The energy markets are pressing down energy stocks like BP and Shell, which is a weight on the index. The key question is how long Saudi Arabia and other OPEC (oil producer) countries hold out," Jasper Lawler, market analyst at CMC Markets, said.

"If the price drops below $75, they might be forced to cut production, but at the moment they're just fighting for market share."

Got some at 72.30p as it was breaking the 72p barrier lasting almost all day
was the 72p support earlier. OIL prices recovering

mentor not sure if you're aware that there's a link in the header, for comodities?

http://www.oil-price.net/index.php?lang=en

thanks cyril

I didn't bother to look earlier, as I like to see it on a clear picture and if posible on a candlestick form

-------------------

the much awaited bounce looks like is on the way with today's 2p rise

just got back into this one myself.....took decision based upon

1....possible bid
2....when oil price falls, the production volumes are usually cut in order to support price
3.....some time in future the world economy will pick up and oil will be in demand again

one out of three would be brill

1....possible bid , cut's out the waiting game for the other two , suits me. Am sure there would a counter bid or more.

with no management left, i would have thought t/o was a racing certainty, though at what price and when is another matter

London, 6 November 2014



Afren plc ("Afren" or the "Company") announces that Mr Ennio Sganzerla has resigned as Non-Executive Director of Afren effective today in order to pursue other business interests

Having joined the board on 26 June 2009, Ennio has served as a Director of Afren Plc for over five years and has been an integral member of the Audit and Risk, Nomination and Remuneration Committees.

The Company will be announcing new appointments to the Board Committees in due course.

Egbert Imomoh, Executive Chairman of Afren, commented:

"On behalf of the Board, I would like to thank Ennio for his considerable and valued contribution to Afren. We wish him well in his future endeavours."

looks that deep shit gets even deeper ...... i still hold a few, so roll on a take-over