< "> 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

Lovely gentle rise......you have to say.....at the moment the markets are very positive...long may it continue.....

Let's hope it continues heading north

when is that oil containment vessel going to arrive so that production can be ramped up?

8 October 2010



Completion of the Acquisition of Black Marlin Energy Holdings Limited and the First Day of Dealings


Afren plc ("Afren" or the "Company") announces that the Scheme of Arrangement relating to the Acquisition of Black Marlin Energy Holdings Limited ("Black Marlin") by Afren plc (the "Acquisition") received BVI court approval on 6th October 2010 and that the Acquisition completed on the 7 October 2010.



Pursuant to the Acquisition, 76,776,096 ordinary shares in the capital of the Company have been issued, allotted and credited as fully paid to the shareholders of Black Marlin and will today be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities today at 08.00 a.m. (London time). Merrill Lynch International is acting as Sponsor to Afren.



The total issued share capital of Afren plc pursuant to the Acquisition will be 968,159,864 ordinary shares with voting rights. No ordinary shares are held in treasury. The above figure 968,159,864 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Afren plc under the FSA's Disclosure and Transparency Rules.



In line with the Company's founding pan African strategy, the Acquisition has established Afren with a multi country platform in East Africa, comprising twelve assets across Kenya, Madagascar, the Seychelles and Ethiopia. This is a complementary extension to Afren's existing West African business, enhancing the Company's exposure to the full cycle E&P value chain.



Encouragingly all licenses acquired in connection with the Acquisition are located in basins with proved working hydrocarbon systems, and importantly offer the potential for large scale oil discoveries. Net prospective resources attributable to Afren's interest are estimated to be 1.2 billion barrels.



The Company is well positioned to leverage its West African cash generative production base to test this potential with the drill bit. A multi-well exploration campaign has been defined through to end 2012, and ongoing studies are expected to unlock further prospectivity. To aid this process, following the Acquisition, Afren now benefits from ownership of one of the largest East African seismic databases.



Afren has today launched a dedicated website detailing its East African business, Afren East Africa Exploration. This can be accessed and viewed via www.afren.com, which Afren is also re-launching.



Pursuant to an exemption decision granted by applicable Canadian securities regulators, Afren will satisfy its oil and gas activities disclosure obligations under Canadian securities laws by complying with the reporting requirements of the UK Financial Services Authority ("FSA") and Afren's continuing obligations under the FSA's Listing Rules, its disclosure obligations under the FSA's Disclosure and Transparency Rules and, where relevant, the applicable guidelines of the Committee of European Securities Regulators with respect to the disclosure of oil and gas activities, instead of complying with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.



Osman Shahenshah, Chief Executive of Afren, commented:



"The Acquisition of Black Marlin has opened up a new core area of exploration focus for Afren, at a time when the region has yielded significant discoveries, yet remains relatively under explored. It provides Afren with a position of scale, and a unique opportunity to participate in multiple, potentially high impact exploration opportunities that are in balance with our established West African production and asset base."


cyril

AFR has retreated into the middle of the uptrend channel over the last few days, assuming the uptrend provides support, room for further gains without too much trouble. Easy as she goes!

sp moving up steadily so far today, perhaps RNS coming soon.

oil price at $84 help's

Well in profit with SB, it's slow but sure. mitzy and long term holders must be over the moon :o)

Wondering if AFR might hit some resistance at 123p or thereabouts, which on current progress would also coincide with the top of this trending channel in a few days time. It would be nice if this channel could be 'pierced' which may indicate an accelerated rise. Looking to add to my existing position in the region of 125p assuming progress is maintained. Fingers crossed, bad news or lack of good doesn't interfere with the plan!

Now were cooking. Could be news coming

Super !

I'm beginning to wonder if we're seeing a slight but significant change to the trend since July? A couple of observations:

1. There may be a mid-channel line within the current trend (dashed white trend lines) which might provide support higher up than I otherwise expected.

2. Has the trend already started to accelerate (unbroken light green trend lines)?

No way of finding out except wait and see. I am certainly of the opinion that support has now moved up to a minimum of 110p (rising).

Just read this via another BB ,should get an RNS today?
cyril

Afren on Okwok.

'Drilling of the Okwok-9 appraisal well commenced on 25 August 2010 using the GSF High Island Vll rig, and is expected to take 30 days to drill. The well has been optimally placed to confirm and define development requirements for the field, where its proximity to the Ebok central processing and storage facilities provides scope to leverage synergies and maximise cost efficiency of any future field development. The well will appraise the same D‟ series reservoirs on the eastern portion of the field that have already been established as oil bearing through previous drilling at Okwok, and are under development at the Ebok field. Afren management estimates STOIIP at the Okwok field of 225 mmbbls of which an estimated 70 mmbbls could be recoverable assuming a 32% recovery factor.'


JPM Caz on Okwok.

"Geology: Okwok is an undeveloped oil field located 50km offshore in 132ft of water, 15km east of Ebok. Oil has been encountered in the LD1 and D2 series of reservoirs. The Okwok-4ST1 well sampled 32 degree API crude, while Okwok-8 tested 27 API crude at a rate of 1.2 kbopd from the LD1 reservoir.
Afren estimates that Okwok holds in excess of 225 mmbo of OIP in the D2, LD1c, LD1d, and LD1e reservoirs. Afren estimates recoverable reserves in excess of 70 mmbo, assuming a 32% recovery factor. Upside exploration potential at the deeper Qua Iboe level could significantly increase reserves. Two prospects have been identified, each estimated to contain c. 200 mmbo OIP."



Afren have 114mboe prospective resources assigned to okwok.

JPM caz have okwok at 13p risked (50mmboe), 40p unrisked (150mmboe).

Okwok has not been independently appraised yet by NSAI, but afren estimates 2P reserves at 20mmboe.


Basically...Okwok could be much bigger than Ebok which would be nice for us all.

Not a fan of today's fall, but the possible new chanell and or mid channel support I was waffling on about last night still holds true. Having said that a further fall tomorrow will see the SP firmly back in the main channel and possibly a test of the existing uptrend support line.

Hey ho, thats the possible accelerated trend and mid-channel theory firmly booted into touch :(

Looking for support now from the longer term trend line, unfortunately AFR is something of a slave to the FTSE and tonights' close in the USA doesn't exactly inspire confidence for Monday. Hopefully, AFR will have some good news to report soon. It's also worth mentioning that the small SP decline over the last few days have been on a much reduced volume, fairly normal for a SP consolidating after a decent rise, especially a breakout.

AFR continues to retrace and it's beginning to look if the trendline support will be broken tomorrow (unless there is a positive news release which will cause a bounce) otherwise support from the breakout level of 110p will surely be tested.

AXA have recently increased their stake by 8 million shares to a holding of 11%, which if nothing else takes a few more shares out of circulation for the time being!

pth
agree with you ;-)
long term target 180sh. depending of course on where it was bought.naturally that shouldnt really matter but it does. currently i am flat but looking for opportunity to buy in. so must add caveat target 180sh is once it breaks up above 121 sh and holds. it may not of course. so a little bit,or a lot of ? defence and money management is now in order to try to keep current holders in their position. as in contrast to my position for example who is a non holder but would like to be. my strategy will most likely be different to those that already hold.
as a non holder i am looking at the high of last week. having retreated from a long term fibbo 61.8% retracement resistance level. added to which the weekly bar chart looks to be saying top, if only temporarily.i am looking for a retreat in price to a support level at say 100sh where i may be able to buy in on a small rally with a tightish stop loss just in case i am wrong.all just my opinion as always.
good luck to you and all holders.
regards
jkd

intresting article in Telegraph today ref 2 guys being jailed for dodgy dealing and the bank wanting to claim money back that their company invested in Afren

Afren plc (AFR LN)



Ebok MOPU Sail Away


London, 20 October 2010 - Afren plc (Afren) and its partner Oriental Energy Resources (Oriental), announce the Naming and Sail Away Ceremony for the Ebok Mobile Offshore Production Unit (MOPU) at the Gulf Copper Yard in Galveston, Texas.



The Veer Prem MOPU will be the crude oil production and processing facility at the Ebok field development located offshore south east Nigeria. The facility is a former jack-up drilling rig that has been successfully converted to a MOPU by removing the drilling package and replacing it with a newly fabricated processing module. Work undertaken has also included the installation of new accommodation and a helideck. It has been prepared with an initial oil production capacity of 50,000 bopd, water injection capacity of 25,000 bwpd and gas lift/injection capacity of 9/6 mmcfd. Crude oil produced and processed at the MOPU will then be stored on the 1.2 million barrel capacity Floating Storage Offloading vessel (FSO), which will accommodate regular sales offtake by tankers up to VLCC size. The facility has been designed to allow for on site expansion and upgrade to also accommodate production from any future additional development phases at the field.



The advantages of using a converted jack up is that the installation will not require a derrick barge, and can therefore be installed whilst development drilling and well testing operations are in progress. Furthermore, opting for the MOPU/FSO development configuration has provided cost savings compared to alternative Floating Production Storage Offloading vessel (FPSO) options that were previously considered. It is planned that the MOPU and FSO will become a central facility for the broader Ebok/Okwok/OML 115 area, allowing for the economical and rapid tie back of production from any future developments in the surrounding area.



Both the MOPU and FSO are expected to arrive on location during November, with production start up remaining on track by year end.





Osman Shahenshah, Chief Executive of Afren plc, commented:



"The Veer Prem MOPU Sail Away Ceremony marks a successful conclusion of the refurbishment and fabrication of the remaining key piece of production infrastructure required at the Ebok development. It represents a significant further step towards first oil at the project, and establishing a production hub for the broader Ebok/Okwok/OML 115 area. We are grateful for the ongoing support from our partner, Oriental, and for the excellent work that Mercator has undertaken in delivering both the MOPU and FSO."



Alhaji Mohammed Indimi, Chairman of Oriental, commented:



"We at Oriental are extremely pleased with the continued progress we are making towards first oil at Ebok. The MOPU Sail Away is another milestone in the project and further endorsement of the successful Oriental/Afren partnership."



cyril

i thought "sail away" must be a revamp of rod stewart's classic