< "> 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

Credit Suisse upgrade note.
"Upgrading to Outperform as Afren offers an improved risk/reward profile. With production from the Ebok field in Nigeria now stabilised at c40kbpd, we believe that a material 2012 drilling programme with a comfortable balance sheet offers an attractive entry point. Ramp-up delays at Ebok were not due to reservoir issues and with production now stabilised, we think that the problems are behind us. We remove our 15% risking on the Ebok field to arrive at our new target price of 130p/sh (from 114p/sh).
Comfortable financial position, but stable Ebok production in 2012 is important to de-lever Afren’s balance sheet beyond. We expect Afren to have $305m cash at end-2011. Going forward, Afren is dependent on strong cashflows from Ebok to reduce its end-2011E net debt of $581m. On our $105/bbl Brent estimate for 2012, we expect Afren to generate CFO of $903m and with its $305m cash position, it would be sufficient to fund $845m of 2012 cash uses. The potential worst case scenario remains if the banks scale back their reserve based lending facility that could restrict Afren’s growth plans.
Material resource upside potential. Up to 15 wells in 2012 offer a balance of high-risk, high-impact exploration (Keta in Ghana, OPL30 in Nigeria) and lower risk exploration/appraisal (Jebel Simrit wells in the Kurdish region of Iraq, Ebok/Okwok/OML115 wells in Nigeria). The 2012 programme is worth 28p/sh on our risked NAV with a blue sky upside of 170p/sh.

glad i bought a few more first thing this morning

Nice to have a cash pile ready for opportunity's like this , a Cynic

indeed, though i have to keep reminding myself that caution (banking profits!) during 2012 must be the mantra

please keep reminding me of that fact cyners....happy new year to all, hope you had a good time at the wolley:)

we did indeed, not least celebrating that the original owner has now bought back the place (+ 6 others) following the demise of the vile von essen and his "evil empire"

i have had 2 further bites of the cherry today, and though the 2nd one looked expensive, it's now very comfortably in the money and the order book looks very strong ..... all in all, a cracking start to the year

i have to keep reminding myself that caution (banking profits!) during 2012 must be the mantra .

this is the most important statement you'll hear this year.

thanks cynic for that.

yep good reminder ref banking profits - would expect some more blue here tomorrow

we need to change the header title for afr - it should read:

tullow - is this the next AFREN lol :-)))

just to show that i do try to follow my own discipline and advice, have banked today profits on dow and goog (but left aap running)

http://www.macquarie.com/dafiles/Internet/mgl/msg/iConference/documents/Europe/ExplorersAgenda.pdf

Explorers Conference this coming Monday - 9th January 2012.

Andaz Hotel, London.

Macquarie Connections.

Kurdistan, Mena, Frontier, Poland, South America, SE Asia, North Sea, Africa.

Breakfast & Welcome address 8.20 - 8.30am.

Kurdistan (Great Eastern Room).
Genel Energy 8.40am.
Afren 9.05am.
DNO 9.30am.
Western Zagros 9.55am.

http://www.macquarie.com/dafiles/Internet/mgl/msg/iConference/documents/Europe/ExplorersAgenda.pdf

another good day at the ranch ...... GKP = whizz and suddenly AFR = bang, then add PFC to that too!

Be good to finish above 1.08 today.

http://www.investegate.co.uk/Article.aspx?id=201201091151382177V

in your excitement over gkp, you all seem to have foolishly taken your eye of this little charmer

cynic we havnt next stop 125pish?

I haven't cyners got my quota and holding on to it.,.

Finished day high bodes well for monday

Starting to climb......worth 50% more in my opinion.

starting to climb - could very easily double from here