< "> 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

Double post

Afren plc
Termination of discussions with SEPLAT Petroleum Development Company plc

On 22 December 2014, Afren plc ("Afren" or the "Company") announced that it had received a highly preliminary approach from SEPLAT Petroleum Development Company plc ("Seplat") regarding a possible combination with Afren.

In accordance with Rule 2.6(a) of the UK Takeover Code (the "Code"), and further to Afren's announcement on 30 January 2015, Seplat was required, by not later than 5.00 p.m. on 13 February 2015 (the "Deadline"), to either announce a firm intention to make an offer for Afren under Rule 2.7 of the Code or announce that it does not intend to make an offer for Afren, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Seplat has requested an extension to the Deadline.

The Board has not received any proposal from Seplat that it believes is capable of being implemented on terms satisfactory to all relevant stakeholders in the Company, including the indicated value being significantly below the aggregate value of the debt of the Company.

Accordingly, the Board has concluded that continuing discussions with Seplat is not in the best interests of the Company's stakeholders and will not agree to Seplat's request for an extension of the Deadline. This announcement is made without Seplat's consent.

The Company is continuing discussions with the advisers to the ad hoc committee of its largest bond holders regarding the immediate liquidity and funding needs of the business. The Company is also having discussions with its existing stakeholders and new third party investors regarding recapitalising the Company.

Further announcements will be made in due course.

The contents of this announcement will be available at www.afren.com. The content of the aforementioned website is not incorporated into and does not form part of this announcement.

It might...might...just survive....touch and go....crude is up but it needs a rising trend not just a one or two day rise...

given that sp finished at 7.25, i'll be looking closely on monday with a view to opening a new short ...... bet i chicken out :-)

I shouldn't.....there will be plenty of buys...

I reckon survival depends on crude...(if that doesn't sound too irish)....

hxxp://www.liveleak.com/view?i=cac_1423804001

hTTp://www.investegate.co.uk/seplat-petdevcom-plc/afr/offer-talks-terminated/201502131601189089E/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=SEPLAT%20PetDevCom%20Plc%20Alert

jimmy b, I sold put of AFR a long while ago, thankfully, but had a punt at just over 12p, so holding stock at a loss at mo, but I still think that some other predator would be interested in buying some of AFR's assets, so not lost hope.......yet. I remember the days when AFR was being tipped as a solid investment by many institutions, so feel very sorry for holders who are in at a much higher price. I still think that the safest course of action for investors is that AFR grind through a slow and steady recovery on their own, if possible. I can't see any other company being interested except to cherry pick some of the assets.

C&Ped??

John - It is rumoured that the price on the table was 300 million....equates to around 25p. AFREN BOD know that they would be mad to give away the company at bargain basement because they have short term financial concerns.

Oh and POO above $60...

load of bollox!

pass the hat round lol

LONDON (Alliance News) - Afren PLC Friday said the proposed takeover offer from SEPLAT Petroleum Development Co PLC will not proceed, but the Nigerian oil and gas exploration and development company said that it reserves the right to "announce an offer or possible offer or make or participate in an offer or possible offer" for Afren within the next six months under certain circumstances or with the consent of the Panel on Takeovers and Mergers. -

Stand by for huge dilution for current holders.
2517

nice1 - this might be odd but when i hear 'nigeria' i just get this feeling of not trusting anything afr says - which is probably one of the reasons afr is in such sore straits after the recent problems it has had - so i take anything from the bod with a pinch of salt

that reminds me - got a real lucky phone call today - i have won the nigerian lottery i never entered apparently - they just need me to send £100k cash to cover admin fees and some nigerian taxes, i will be sending the cash with my date of birth, passport number and all my bank passwords of course - sounded like a real friendly genuine person on the phone, even kindly offered to send a taxi free of charge to pick up the cash............. LOL
gl

2517 - yep if so dilution will be very large - if no dilution or no other offers afr is kaput - go into admin and come out the other side & assets picked up for peanuts by say errrrrrrrrrrr................. seplat? LOL

http://www.telegraph.co.uk/finance/markets/marketreport/11412329/Bwin-plunges-as-bid-hopes-fade.html

Heavily indebted Nigerian oil explorer Afren, a focus for retail investors, endured a volatile session. News that takeover talks with potential suitor Seplat had collapsed prompted a 36.7pc intraday plunge in the stock, only for optimistic private investors to push the shares back up again to close 0.165p higher at 7.275p, a 2.3pc advance. The gain came despite the fact shareholders now face significant dilution from a fund-raising.

Dilution perhaps but if the company survives the sp will be way above current levels !...

RF

What is your average price of your Afren shares , did you place a stop loss ? if not think about a short on 30 to 45% of your shares

DYOR