|Mon 20:54||molatovkid||Companies that go bust, literally run out of cash, we've all seen the RNS's - they can't fund the following months costs never mind repay their debts.
Now look at Afren;
* Profit making ($167m in 9 months)
* Cash in bank ($266m at the last count)
* The profits quoted above, were after paying the debt interest - not before.
* Planned 12k-15k bopd extra production coming on stream in 2015... read more...|
|yesterday 22:34||prmoldoaks||LOL, Seplat would not be able to buy the assets from the Bondholders without agreement from shareholders or until the restructuring has failed. They may have first charge on their assets but if afren failed it would be put up to the highest bidder, Seplat would need to line up with the rest.
Seplat have one opportunity here and all these commentators have no idea its a joke some of the things... read more...|
|Tue 00:24||prmoldoaks||Lets spell this simple cash flow out for you guy's using numbers we know :
Afren's 2014 year end production (Excluding Barda Rash) was put at between 32,000 & 36,000 bopd
So lets use numbers we know
Hedged oil throughout 2015 (Total numbers actual & accurate)
4,800,000 BOI hedged at $90 - $95 divide this by 365 days = 13,150 bopd
We know afren's oil is sold at Brent Crude rates currently... read more...|
|Wed 19:13||fsawatcher||the sp continues to struggle due to the large amount of stock that is exiting via Standard Life and others.
There are rules which the big boys have to abide by when it comes to risk analysis and compliance.
Here are few reasons on why some II's are forced sellers rather than desperate sellers )if you follow).
1. Some are tracked/linked to FTSE250 and not allowed to hold or trade FTSE350 or... read more...|
|25 Jan 2015||kulvinder||All it really demonstrates once again, how short's can damage and destroy a company - it really is criminal that people are allowed to sell something they don't own - it is time shorting is banned totally by our so called government to ensure you can only sell shares that you actually own and thus create a more consistent investing environment and as well as a more level playing field... read more...|
|Tue 16:17||oldvic||If you've your health and the love of a good woman then what's the loss of some money, I mean really?
HAD BOTH TILL SHE FINDS OUT ABOUT THIS DAY ! read more...|
|Wed 20:16||prmoldoaks||If Blackstones are preparing a £1.5b fund, there are others to.
There is a snippet floating around the market about General Theophilus Danjuma stepping in to the talks? he and his wife are apparently very very good friends of Egbert Imomoh.
Apparently it was Daisy Danjuma (Wife of the general) that made the investment of nearly £80m (now worth £4m) with their investment arm, there are... read more...|
|23 Jan 2015||leeson31||given how enquest successfuly renegotiated their debt and associated covenants, id say afren will update us which the same fashion news......
then we can look fwd to a trading update on production, and expected increases from ebok..
then a new ceo plus his 'crew'...
we saw how a good named chairman at QPP did to the SP; i would think afren will get a reputable ceo...
then theres a... read more...|
|yesterday 08:54||pinemartin9||For those of us who have held this for 5 years or so and see it get to 170 to see this down at 4p is truly ridiculous. It's been a horrible 8 months. I could have should have got out on the way down but have been paralysed like a rabbit in the headlights. Fell in love with a share and over estimated the skills of the newly formed management team. That's why I'm never buying a share again. All... read more...|
If it's a short-term liquidity problem - which it is,
a) negotiate an extension to coupon payments,
b) borrow enough to fill the gap, and seriously start cutting the fat.
c) exploring full/partial asset divestment possibilities with existing partners
d) get that new CEO on board YESTERDAY, and clear out any of the dead wood that allowed the company to get to this... read more...|