< "> 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

exceptionally heavy volume too

since the marked down at the start, is now on a intraday spike like

low of 38.50p to 43.50p now

the oil price is more of a yo yo but rising

Rising way ahead of all other oilers today .

Institution order filling completed or.....'Pump & Dump' day traders taking profits?

or
A SHORTER ON THE LOOSE?
Locked the door before ( it ) can scape
------------------------

A hughe volume 28M so far



bought some OPHR at 136.30p of the oil stocks bouncing back

and now well over 40m traded!

===========

panic bear closing or something potentially afoot?

OIL prices on the rise

the Brent pice has been rising and then a 50% retracement and up again with another 50% retracement so far



live chart .......... http://www.livecharts.co.uk/MarketCharts/brent.php

IMO ...even with the oil $/barrel in mid $55-$60 AFR have been well oversold, due to nervous Lemmings and over-shorting taking advantage. Institution know this and the potential which AFR has in the mid-term.

Yes AFR have some management issues which makes it an obvious shorters target on weak market / oil slippage. Also Nigeria have reduced its GDP expectations and their currency have dropped. All good for AFR. Iraq / Kurds are also starting to get on together, and secure production delivery.

Also AFR management keep stating that production will ramp up in near future. If I had the Cash I would be looking at this mid-cap Oil gem as a potential Bid target. Good reserves, exploration track record and generally ok Geo-political stable countries (now).

Will surf the SP wave I think.

DYOR

HAb

Go with the flow,great week for those that did.
-----------------------------------------------------

">

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



From above by Bill Conerly

Development is the process of sinking more wells in a field that has already been proven by exploratory drilling. Development also includes building the local pipelines and terminals required to get the oil to a transportation facility. Development expenses are often worthwhile even at lower prices. For example, suppose that the all-in cost of oil from a brand new field is $80, of which $30 per barrel constitutes exploration. That means that development and production only costs $50 a barrel extra. If the exploration costs have already been paid, then companies will continue with development even at today’s $60 price.

Production is even cheaper. Traditionally, production costs were very small compared to exploration and development, but wells that are fracked have higher production costs that old-fashioned wells. Nonetheless, once the exploration and development have been paid for, it almost always makes sense to keep the wells pumping.

Bid/merger..

Afren confirms approach by Seplat

Afren has noted the recent movement in its share price and confirmed that it has received a highly preliminary approach from SEPLAT Petroleum Development Company plc regarding a possible combination with Afren. Afren says there can be no certainty that an offer will be made or as to the terms of any offer.

Afren also noted that Seplat must announce whether it plans to make an offer by 5 p.m. on 19 January.

At 9:14am: (LON:AFR) Afren PLC share price was +5.66p at 53.23p

Intraday is very spiky after the news

I don't think they'd let themselves taken over for anything less than 200p....so this approach might fail...

Mitzy
What not sub 20p?

Might go to 70p plus short term ....just guessing....

RF - in your dreams! ...... anything is only worth as much as someone will pay for it ...... further, the chief honcho is in danger is being tucked away for a good many years, and given the way things run in that part of the world, one can easily imagine something persuasive being put before him

meanwhile, i'm very happy to have topped up last week

what 70p or 200p ?...

I'd be happy with 70p short term...

Lol Cyril..

50p by the looks of it.

of course we could always hope that SAP want to get involved and then we could have an auction!!!!

dream on eh