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Afren (AFR) Share Price

AFR Afren

1.785

0.00 (0.00%)

16 Apr 2024 - Closed

Delayed by 15 minutes

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Afren	LSE:AFR	London	Ordinary Share	GB00B0672758	ORD 1P

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	0.00	0.00%	1.785	0.00	01:00:00

Bid Price		Offer Price	High Price	Low Price	Open Price

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
				-

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
-	O	0	1.785	GBX

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Date	Time	Title	Posts
23/12/2021	21:05	Afren Plc.	5,895
06/11/2018	00:27	Afren new thread.	166,122
05/4/2016	13:23	AFR Share holders diluted out of any value soon	1,049
03/11/2015	23:30	LEESON31 WINNERS ON ADVFN SO FAR-QPP 95% LOSS /AFR 98% LOSS	61
30/10/2015	20:30	DECIDED TO PILE INTO AFREN AND VOTE NO..COMPANY WORTH 20X CURRENT VALUE	132

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Posted at 12/7/2017 16:15 by hithere2 In case you missed it hithere2 11 Jul '17 - 17:17 - 272 of 272 0 0 Edit hithere2 11 Jul '17 - 13:00 - 271 of 271 0 0 Edit Hi folks, here's a free trade for you . Price now is sitting at 7305 ( I cannot rule out 7225or below) but I am long here and looking for 7.4% on my trading pot with an exit target 7452. You're welcome Read Full Thread Reply
Posted at 07/3/2016 20:49 by pinemartin9 This is the end beautiful friend. The End. 26/2/16. Letter received from Alix Partners concerning the administration of Afren. "As detailed in the report, due to the substantial shortfall to creditors, there will be insufficient funds to enable a return to the company's shareholders. ....Under UK insolvency legislation, shareholders are not considered to be creditors of the company and are therefore not entitled to participate in any distribution to the company's creditors." You live and learn. The benefit of hindsight. At one time my investment in Afren was worth £50k. Now worth zilch. I've been royally screwed, been stuck like a deer in the headlights and also had some bad luck. All decisions made or not made were mine. A lesson learnt the hard way. I've probably lost about £22k on my original investment but a max loss of £50k from what they were worth. Always use a stop loss. Never fall in love with a share and don't put all your eggs in one basket. Simples. Oh yeah, that last one is especially true if they are a Nigerian oil and gas company, I'll recover - that £50k would have been useful now though! Live long and prosper. Read Full Thread Reply
Posted at 27/10/2015 08:12 by zengas From subscription based Africa Intelligence 27/10/15 Local juniors first in line to pick up Afren's assets Working quickly to liquidate its assets, Afren is already in advanced talks with several Nigerian companies. To start mopping up its Afren’s debts, a firm specializing in restructuring companies, AlixPartners, retained Blackstone Group International Partners to sell off all of the assets of the bankrupt group. Blacksone has contacted no less than 46 potential investors, including 20 in Nigeria, and given all potential buyers access to the data room. And it’s indeed in Nigeria, where Afren already produced a little over 30,000 bpd on Ebok and Okoro, where the process is most advanced. According a report written by AlixPartners that Africa Energy Intelligence was able to consult, three local partners of the junior appear closest to finalizing the acquisition of several blocks. One junior in question is Oriental Energy, a firm headed by Mohamed Ndini, which has already approved a transition plan on Ebok in August that gave it full operational powers on the concession. Oriental Energy is also favoured to acquire Afren’s shares on the Okwok permit. As for Okoro, Amni International headed by geologist Tunde Afolabi has refused to allow Afren - which owns half of the production on the field - to transfer the terms of the production sharing and technical services agreement to a third company. Amni, which already put up $1.5 million recently to finance certain operational costs linked to the development of the field, wants to buy Afren’s interest itself. On OML 113 (Aje), which is due to go into production next year, Yinka Folawiyo Petroleum offered a higher price than that of Panoro Energy, Afren’s third partner on the block. Read Full Thread Reply
Posted at 23/9/2015 22:16 by ldlv Creditors and shareholders were astonished then that a business which had seemed robust enough to attract $200m of fresh funding from a group of bondholders in April was so soon unable to continue. Afren's key problem was that output from its working oil fields appeared likely to be much lower than previously predicted.Now, some stakeholders are raising another grievance to add to their long list of concerns about Afren.The business advisory firm that took control of Afren as administrator on July 31 was AlixPartners.On August 11, Alix announced that it had hired Blackstone as financial adviser and made Blackstone the point of contact for "any parties interested in participating in potential asset sales" arising from the administration of Afren.Blackstone had been one of the key players in the attempted restructuring of Afren's debts, as adviser to the group of Afren bondholders that injected new money to keep it afloat.Among Afren's shareholders, voices quickly rose to denounce the appointment, arguing that Blackstone's closeness to one group of creditors could create a conflict of interest. The administrator and its advisers, they argued, had to be seen as impartial among stakeholders. Frustration with restructuringOthers, among Afren's employees and bank lenders, share the concern of some shareholders about the appointment, GlobalCapital has learned.AlixPartners and Blackstone declined to comment for this article.Acting for the bondholders, Blackstone was one of the main proponents of the debt restructuring from its outset until it collapsed at the end of July, when Afren said the production forecasts on which the deal was founded had been wrong.During those months of negotiations, Blackstone became the object of sharp criticism from some employees, shareholders and lenders of Afren.They complained that Blackstone, and in particular its head of European restructuring Martin Gudgeon, had pushed hard for a deal that turned out to be unworkable. Other proponents of the restructuring were also attacked.How, shareholders asked after its appointment, could Blackstone now be seen as an impartial adviser to Alix, and act as the first port of call for potential buyers, when it had for months advised and been identified with only one of the many groups involved in Afren's often tense and partisan restructuring? Banks unhappySome of the international banks that had lent to Afren with security over Afren's Ebok oil field, known as the Ebok lenders, also feel the appointment risks a conflict of interest, according to a person close to the group."The Ebok lenders have made that point to Alix," the person said on Friday. "It was a foolish thing for Alix to do."Asked about the possibility of a conflict of interest, a person close to the matter told GlobalCapital on August 12 that it was "fair" to ask questions about this, and that Chinese walls had been put in place to deal with Blackstone's role.But stakeholders in the business expressed surprise at that explanation, pointing to the fact that Gudgeon himself was named as a contact for Blackstone in AlixPartners' August 11 announcement that Blackstone was to be an adviser. How could there be Chinese walls, they asked, if the same person who had worked for the bondholders was now working for the administrators?Earlier this month, an Afren employee who had worked on the restructuring efforts questioned the choice of Blackstone as adviser: "It makes sense, practically, because Blackstone knows Afren well, and because much of the money that can be extracted from the company will go to the ad hoc committee [the committee of bondholders that injected new money into Afren]. But administrators are supposed to fairly work in the interest of all stakeholders."Can there be a Chinese wall between Martin and Martin?" the employee asked. Doubt over Chinese wallsThe source close to the Ebok lenders echoed that point, saying Chinese walls would only work if Alix could give assurances that, from the time of its appointment, Blackstone personnel could no longer work for, or even talk to, the bondholders - and such assurances had not been given.As things stood, the source said: "From a perception perspective, it doesn't look very good. It gives the perception of a conflict of interest."A number of Ebok lenders are bitter about the restructuring. It was never completed, because Afren went into administration before it could be, but the first stage of the restructuring - the injection of $200m of super-senior interim funding from the bondholders - did indeed take place.The bank lenders accepted to rank junior to the bondholders in order for that new money to be injected and for the company to avoid default. But Afren did not manage to avoid default, and the lenders will now only retrieve money from Afren if the bondholders recover their full $200m, which most observers think unlikely.The source close to the Ebok lenders said: "I suppose Alix hired Blackstone because they had good knowledge of Afren. But if they had such good knowledge of Afren, why did they not know the financial situation of the company?" 'Doing a strong job'The person close to the matter, mentioned above, said: "Blackstone are doing a strong job in what are very trying circumstances."Afren Legal Action, a group of retail shareholders in Afren, wrote in an email to GlobalCapital last month: "The issues at stake here are too weighty for shareholders to accept giving the benefit of the doubt to the Chinese walls defence. This is a question of hundreds of people's investments, savings, and pensions, so the administrators need to be truly independent, and the process thoroughly transparent."GlobalCapital understands that more than 50 bids for Afren assets have so far been evaluated during the administration. Read Full Thread Reply
Posted at 15/7/2015 11:25 by centurionsid Afren has requested this suspension, it is NOT an FCA imposed one. (FYI; Suspension does not mean administration/liquidation. Administration/liquidation is the result of a company being unable to meet its obligations. We have not been told that is the case and there are further funds available under the existing funding arrangements, which counters the NPI issue. The NO vote looms heavily in the minds of the BHs and BOD as unacceptable. If an improved revised offer were now to be put to the shareholders that offered lower dilution, for instance by allowing the Open Offer to go ahead under different terms, and raise further funds, that may enable shareholders to move from a NO vote to an acceptable YES vote. The shares could then be unsuspended, so long as the company has not entered administration, however administration is something BH's would wish to avoid, almost at any cost. Plan A (or a revised version) works for reconstruction. It is becoming more widely accepted now that Plan B does not work for any of the parties. No doubt many would have loved suspension when the share price was at 10p or higher to stop it from falling further or being manipulated or shorted, although there would have been the same fears. There is no way yet of knowing when the suspension will be lifted or at what price it will open. However, there is now a real opportunity for this mess to be sorted on a more equitable basis. Once the recapitalisation is properly agreed and under way the shares should be traded again and the share price will not be affected by all the uncertainty. That is a positive thing. BR Sid Read Full Thread Reply
Posted at 15/7/2015 11:24 by centurionsid SUSPENSION Afren has requested this suspension, it is NOT an FCA imposed one. (FYI; hxxp://www.investopedia.com/terms/s/suspended_trading.asp) Suspension does not mean administration/liquidation. Administration/liquidation is the result of a company being unable to meet its obligations. We have not been told that is the case and there are further funds available under the existing funding arrangements, which counters the NPI issue. The NO vote looms heavily in the minds of the BHs and BOD as unacceptable. If an improved revised offer were now to be put to the shareholders that offered lower dilution, for instance by allowing the Open Offer to go ahead under different terms, and raise further funds, that may enable shareholders to move from a NO vote to an acceptable YES vote. The shares could then be unsuspended, so long as the company has not entered administration, however administration is something BH's would wish to avoid, almost at any cost. Plan A (or a revised version) works for reconstruction. It is becoming more widely accepted now that Plan B does not work for any of the parties. No doubt many would have loved suspension when the share price was at 10p or higher to stop it from falling further or being manipulated or shorted, although there would have been the same fears. There is no way yet of knowing when the suspension will be lifted or at what price it will open. However, there is now a real opportunity for this mess to be sorted on a more equitable basis. Once the recapitalisation is properly agreed and under way the shares should be traded again and the share price will not be affected by all the uncertainty. That is a positive thing. BR Sid Read Full Thread Reply
Posted at 14/7/2015 10:20 by centurionsid Some YES Vote Reminders POSITIVE Issues. Shareholder value at 10% ownership of the company. Open offer at 1p per share. Company refinanced - continues trading. 10% future growth attributable to shareholders. New management team. Probable survival of the company. NEGATIVE Issues 90% value of the company taken by BHs. Shareholders have to pay for part of their own refinancing via an Open Offer. Does the refinancing offer enough liquidity to trade forward? 90% control of the company will be in the hands of the BHs. Existing shareholders will never have any say by vote. Existing SHs have no trust that BHs will do what they say they will do. Can Alan Linn run a company with total SH contol in hands of BHs? Will BHs simply sell off assets to pay down their debt? Will BHs milk the company of cash to pay down debt. There is a twice yearly cash sweep to remove 50% of all cash generated. Costly advisors permanently in place. Will BHs take the company private and remove all value. Can the BHs carry out their new business plan (one of the risks identified in the prospectus) If Afren value rises to £1 billion share price under Plan A share price will only be 9p. Read Full Thread Reply
Posted at 06/7/2015 12:43 by ldlv Open letter from Wild Wolf to the General and wife:Dear Sir/ MadamWe are respectfully writing to you regarding a matter of mutual interest and mutual benefit.We represent hundreds of disgruntled small private investors in Afren PLC.It is our genuine belief that we just are the tip of the iceberg and there are tens of thousands of other affected investors who are of the same belief that shareholders are being cheated currently out of their investments and we want to make a stand against this.We also are contacting the required regulatory authorities to assist us in stopping these crimes from being completed.A continued and ever increasing media campaign will ensure that this will continue to be publicised until investigated and the truth of the mysterious behaviour of the Afren executive and their colluding friends to crash the share value of the company, will become public knowledge and any criminality will be made accountable. As you are no doubt aware, Afren suffered from previous over exposure to CAPEX investment, some irregular activities of the historic Boards of Directors and the temporary slump in oil prices.It is our opinion that these problems were exaggerated and a campaign of misinformation and manipulation and accounting falsifications have provided an excuse for a premeditated raid attempt by certain bondholders and financial institutions working in concert, to enable an attempt to steal the company using a host of dubious methods and puppet directors and to then sell the asset base on, cutting shareholders out of the equation and cheating them from the proceeds of their investments.Already this attack on the company (perhaps on behalf of a yet unnamed ultimate beneficiary) have resulted in the loss of 95% of the shareholder value of the company already and further losses of another 90% with the threat of the company's demise.We intend to fight this theft of shareholder value and bring those responsible to account.Just because they chose a company with a massive small investor base (mainly pensioners and average working class people) who they felt would be easiest to defraud, does not mean we have to accept their theft. We wont and we intend to fight to get a better offer for existing shareholders regardless of their threats.We have sufficient and an ever growing amount of evidence of a catalogue of crimes and breaches of duty and multiple examples of share price and information manipulation compiled so as to deceive shareholders.It is our intention to resiliently use specific regulators and judiciaries to attempt to stop this theft, rescue the company from being deliberately destroyed and undermined and then to patiently pursue those responsible and to then gain full recourse and to ensure that this kind of corrupt behaviour is removed from public company's which seek shareholder investment.What started as an investment, has become a personal battle of principle for many. There is an anger stirring that will not dissipate or respond to threats or corruption.Our major obstacle is that we suspect that those behind this theft of shareholder value infiltrated the executive of the company with a new generation of Directors who are not loyal to its shareholders and who are using the most underhand tactics ever experienced since the U.S. Bear Sterns scandal.The current executives of the company are basically attempting to blackmail and threaten existing shareholders into agreeing to their corrupt recapitalisation plan.We feel this recapitalisation is not only based on falsely presented misinformation, it is also a terrible strategy for the company as it simply leaves a once wonderful and promising company in one of the worlds most exciting new economy regions, with an unnecessary legacy of debt and being beholden to the kind of organisation who would not hesitate in repeating this theft continually until there is no shareholder value left whatsoever.In order to succeed in attracting the required investors for the litigation which must follow, we need to first stop this recapitalisation and attract as many other major shareholders to join us in voting No.In our opinion voting Yes is a certain slow death. Vote No and it is a case of who is willing to fight the hardest and we doubt that the bondholders will readily go to the line however much their puppet directors assist them in their quest.We understand that as a major investor you may have lost considerable sums from these dubious events of the past year in Afren and we may be fighting for the same cause and pursuit of justice.We therefore write to you to request that you join us in voting No at the EGM in July and to also inform you that the company has been sending out some very misleading documents to its shareholders with the aim of tricking them into agreeing to the recapitalisation. An act so underhand by the new CEO, it has brought hundreds of new angry investors to the cause.As we are just a very large and growing group of extremely angry small private investors, we also thought it would be polite and very useful for us in our future direction strategy to seek advice from you as a major private investor to request your preferences for the future and to seek input from you as to how you would like us to proceed or how you see the future of the company.Man institutional investors in this share seem to be party to information that private investors have been prevented from so it is the views of private investors which are in our opinion the only voices we can currently trust.You may or may wish to reply or assist us which we fully respect but we thought it good manners to seek your input and of course ask you to consider the merits of not supporting the company from diluting its existing shareholders any further.It is not a strategy without risk as the large financial organisations we will be challenging as part of this resistance to what we feel is a massive conspiracy to defraud, will have legal teams and very crafty accountants and have already shown their willingness to use every dirty trick possible to deter us.However, they have been breaking multiple laws and we believe that it is going to be possible to prove that there is a concert party behind this theft and they are basically trying to steal the company rather than paying the £1+ share price they should have paid when they effectively took control of the company on a false premise.The people behind and fronting this theft, are threatening to destroy the company if they do not get their way or if shareholders resist.If shareholders lose their value, bondholders would lose greater amounts if we are swift in our actions and after having incurred such losses already, the consensus amongst shareholders is that it would be better to lose and hurt those bondholders even more, than simply being belittled and stolen from any further.If we can secure a No Vote at the forthcoming EGM, it will in our opinion result in a changed attitude by those behind this alleged scam.A major investor publishing they will vote No would terrify the bondholders into seeking a new negotiation we believe, as they have more to lose now as the losses to date are all with shareholders and the proposed recapitalisation is disproportionately beneficial to bondholders, which is wrong on so many levels.Were it to be possible to convince them prior to the vote (as we successfully did with a warning at the recent AGM) that they will not succeed with this theft, we hope that bondholder pressure will then enable a a fairer deal to be offered to shareholders in the coming weeks.Currently it looks most likely the Board of Directors will fail in their vote and the No vote will win.Our objective is to ensure this is realised at the earliest opportunity and prior to the EGM if possible and your support will be of great influence regarding this and could help bring this crime to an early stop.We are not looking to take up any employment or executive positions in the company (but will seek a shareholder guardian director as the investor relations personnel have let us down so badly to date) or be involved in its future running, our desire is to simply to stop those who are trying to steal from us and hope that in due course a well intentioned new executive will take control who are working for the shareholders and not for other parties as appears to be the case currently.Shareholders do not have an ideological plan for the company just a desire for fairness.It would be excellent to have your No vote to support us and any feedback or direction advice to assist us in our battle against this currently occurring theft.Naturally, all of this is just our opinion only and we are voting based on that opinion.Of course we would advise you to seek legal and financial advice from trusted sources before making any decision but if at the very least we inform you of our intent and objectives, it may give you information to consider and hopefully will assist you in your own decision-making and choices regarding the matter and he future of existing Afren shares.Many thanks for taking the time to read this letter and we send our respects and best wishes to you.Kind regards ?Send any screenshot to your friends in seconds...Works in all emails, instant messengers, blogs, forums and social networks.Try IM ToolPack at www.imtoolpack.com for FREE Read Full Thread Reply
Posted at 24/6/2015 05:49 by 4627192 hxxp://www.smallcapnetwork.com/Afren-share-price-spikes-amid-city-whispers-speculations/s/via/49021/article/view/p/mid/1/id/1/ Afren share price spikes amid city whispers & speculations that Nigeria richest man could be bidding for Afren Nigerian operations at 12p per share. Afren share price spikes amid city whispers & speculations Afren share price spikes amid city whispers & speculations By Mega_X 23 Jun 2015 17:40:42 \| 710 View(s) Nigeria richest person, joined the list of Africa’s 50 Richest. Mr Dangote has been betting on Oil refinery since 2013 and AFR will fit well in his mix of business empire. Mr Dangote quotes, He said, "Let me tell you this and I want to really emphasize it...nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work." Please DO NOT buy any stock recommended in this post basely solely on what you hear. The opinions in this comment are just that, opinions. Please do your own research before investing. Read Full Thread Reply
Posted at 23/6/2015 05:55 by temmujin Afr is well undervalued even with debt issues their assets are worth a minimum 20x today's market value (that is a conservative valuation). What a yes vote will mean is dillution but in long run afr will be back up to double digit share price Those who got in sub 2p you will be loving it. Mop up the shares and vote yes and sit back n relax. Afr remind me of mxp near bankruptcy a few years back then boom 20p share price Afr will do the same, patience required. Existing holders who got in above £1sp would not it be better if you all averaged down Read Full Thread Reply

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