< "> 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

Thanks HARRY , my own mind is already made up ,on something as big as this it's just punters chatting rubbish .The only people in the know are the people doing the deal right now .

well they do say that the chairman's pa has the most wonderful legs and rumoured not to wear knickers either, so well worth investigating closely i would have thought :-)

That's pure speculation as well ,like the bid i'd like to see evidence .

me too, but then i always was a dirty old goat :-)

i'm amazed sp has stayed so static today with 175m traded so far and oil falling back yet again

Maybe telling us something ?

Just below 11p it seems is the way someone want to keep it for the moment being

on looking at the order book as soon as it reaches close to 11 offer something happens and down again ( someone is controlling the price ) as most times there is only about 50K on small trades from 10.70 to 11p,
mind you have been keept with plenty though small trades on the offer side since 12pm.

curious innit, especially with crude falling out of bed again

Curiouser and curiouser !....still think 20p plus for me....!...

The volume is only half that of the last two days, so maybe holders are content to sit awhile before deciding on a course of action. Lets just hope that SEPLAT think AFR is a bargain which shouldn't be missed.

is 204m traded REALLY half of the last 2 days volume?

When I looked, vol was about 170m which is about half.

Standard & Poor's Ratings Services yesterday (4 February) said it lowered its long-term corporate credit rating on Afren PLC, a U.K.-headquartered oil and gas exploration and production company, to 'SD' (selective default) from 'CC'.

At the same time, we lowered our long-term issue rating on the company's senior secured bonds maturing in 2016 to 'D' from 'CC'. We also affirmed the 'CC' long-term issue rating on the company's senior secured bonds maturing in 2019 and 2020.

We downgraded Afren because it failed to pay its obligations under both its $300 million revolving credit facility (Ebok facility) and its bonds maturing in 2016 on time (we understand the amount outstanding on the bond is $253 million). The company obtained from the lenders of the $300 million revolving credit facility a deferral of the $50 million amortization payment due Jan. 31, 2015, to Feb. 27, 2015. We also understand Afren is using a 30-day grace period under the bonds due 2016 to postpone payment of US$15 million of interest due on Feb. 1, 2015.

We consider that the deferral of Afren's debt payment obligations is tantamount to a default, and we think that there is a high likelihood that Afren will fail to make the principal and interest payments in February 2015.

Still, Afren has not defaulted on its other bonds maturing in 2019 and 2020, which account for more than 50% of its outstanding total debt. We have therefore lowered our long-term rating on Afren to 'SD', reflecting our view of its default on some of its debt instruments; rather than a default on all or a substantial part of its debt.

We believe Afren's ability to continue to operate effectively will be hampered, particularly because the appointments of key managers are still pending after the dismissals of the CEO and COO last year and because oil prices are currently low. The decline in oil prices is complicating Afren's liquidity and debt restructuring, in our view.

Seplat, a Nigerian exploration and production company, has approached Afren regarding a potential merger. Seplat has until Feb. 13, 2015, to make a formal offer. However, the deadline has shifted twice, and we think it could be pushed back again in the future. We will take into account this potential major development in any future rating actions.

Sp going nowhere.....again! :o(

yes it is - gently south

Another red day in general, up 2 steps one day then back 1 the next.,.

the trojan horse of the greek influence :-)

https://uk.finance.yahoo.com/news/realistic-seplat-takeover-afren-plc-104436211.html

somebody once said about them 'lazy unemployed gluttons' or similar