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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

Just a reminder from 13th Jan from StockMarketWire.com

Credit Suisse has downgraded its recommendation on independent oil and gas exploration and production company Afren (LON:AFR) to neutral" from outperform" following yesterdays big reserves downgrade.

Resource uncertainty now joins a list of concerns including the upcoming Nigerian elections, a relatively stretched balance sheet and a falling oil price, analyst Robert Mundy said.

The broker cut its target to 54 pence a share from 92 pence.

Separately, Canaccord Genuity downgraded its recommendation to hold" from speculative buy" in a note to investors, on Monday.

The broker said: This is very disappointing and a significant negative for our view on Afren.

Canaccord also slashed its target price to 27 pence a share from 65 pence.

We have chosen to eliminate all value for Kurdistan, mainly Barda Rash and a modest contribution from the Ain Sifni block, from our NAV, the broker added.

How much Afr is worth to a bidder/s is the big question

sharp pullback....that's what I mean by erratic

aldwickk, a lot less since the downgrade.
2517

If it comes ...80p....

RF

What price did you buy at ?

Am thinking of buying at around 28p

around 22.5.....a tad more...

you can buy now aldo!
hindsight reveals that i shouldn't have closed that short so quickly

It's a gamble....even if a bid does not materialise this coming week....I reckon it will later....so the sp could oscillate at a guess between 20p right up to 40p....before bidding...I'm guessing of course....I doubt that you'd be out of pocket coming in now with patience...

Volume suggests traders taking profits? Perhaps the end of day positions will give a clue as what to expect on Monday(19th)?

I agree Cyril. Best thing now is to position yourself for monday trading. I'm happy to hold and will add if the sp drops sub 26p.

I think that if a bid came...shorters would be : how shall I put it...well there is no easy word..."stuffed".....

If SEPLAT walk then shorters will be smiling. Take your pick rf. It's a punt. Just don't bet more than you can afford to lose.
Brokers put a value of 25p on this , excluding the 'bid potential'.

Yes but it won't last.....of the two : I'd go long because the drop will be 5p...that's all....so the gamble is short 5p....or if there is a bid perhaps 80p wham........nuts to short this !...

Brokers bonkers....Afren is well worth 100p with an oil recovery.....$45 to the barrel is unsustainable in my opinion....

If SEPLAT walk the sp will drop much further than 25p as many weak holders will sell in panic. I think the latest low is around 20p.

but what are the extraction costs from Ebok?

It won't last.....and are you willing to gamble against a bid....crazy....

There is debt...we all know about it....but the market cap is below 300 million.....and companies think long-term....ten years ahead sometimes....