Afren Share Discussion Threads

[optimist at large] 29/12/2007 09:21

Hi Gilspur

Are you still in GAS?

[5bag] 28/12/2007 21:40

Darcon, i have no clue about all the possible effects on afrens share price from the global markets, but they will produce oil from end of march 2008, according to schedule.

[5bag] 28/12/2007 21:37

just to put US cosumption into context, iraq, at the height of its production in 1990, only produced 3.5mill barrels of crude, daily.

[darcon] 28/12/2007 21:37

I suppose reductions in UK interest rates in 2008 could also lead to a weakening of the £ vs the $, which might also have an effect on the AFR share price.

[5bag] 28/12/2007 19:36

interesting article, just how much do the US need? lol

9.3 million barrels of petrol a day, with 205 million in inventory. 20 days stock roughly.

WASHINGTON (AP) - Crude-oil inventories fell last week for the sixth
straight period, according to government data published Thursday.
For the week ended Dec. 21, crude-oil inventories fell by 3.3 million
barrels, or 1.1 percent, to 293.6 million barrels, the Energy Department's
Energy Information Administration said in its weekly report. It was delayed one
day due to the Christmas holiday. While the stockpiles are 8.3 percent below
year-ago levels, analysts had expected a draw of only 1.3 million barrels,
according to a survey by Dow Jones Newswires.
But stocks at a key delivery terminal in Cushing, Okla., which is closely
watched by traders as a benchmark of oil inventory tightness, rose slightly for
the sixth straight week to 17.5 million barrels.
Gasoline inventories rose by 700,000 barrels, or 0.3 percent, to 205.9
million barrels, which are 1.5 percent below year-ago levels. But analysts
expected stockpiles of the motor fuel to rise by 1.4 million barrels last week.
Demand for gasoline over the four weeks ended Dec. 21 was 0.3 percent higher
than a year earlier, averaging more than 9.3 million barrels a day.
At the same time, U.S. refineries ran at 88.1 percent of total capacity on
average, a gain of 0.3 percentage point. Analysts expected an increase of 0.6
percentage point.
Inventories of distillate fuel, which includes diesel and heating oil, fell
by 2.8 million barrels to 126.6 million barrels for the week ended Dec. 21.
Analysts expected a draw of only 800,000 barrels.
At the pump, gas prices rose about a penny overnight to a national average
of $2.98 a gallon, according to AAA and the Oil Price Information Service. Gas
prices have fallen about 13 cents from a November peak when oil flirted with
$100 a barrel, but remain well above the year-ago average of $2.34 a gallon.
In morning trading, light, sweet crude for February delivery rose 76 cents
to $96.73 a barrel on the New York Mercantile Exchange.

[5bag] 28/12/2007 19:02

Some analysts have said as much as $115. If US winter gets worse and any supply concerns arise then $100 reachable IMO. The US is having a very cold time of it in some places. See post below (edit).

[leeson31] 28/12/2007 18:46

good stuff, afrens price per barrel will rise too then :-)

[5bag] 28/12/2007 18:45

Reasonable to expect that $100+ oil will be reached in 2008...

[leeson31] 28/12/2007 18:38

cheers 5bag, funnily enough the 20, 40 and 80 mda's v bullish.



Also, oil maybe on the rise again !?

[5bag] 28/12/2007 15:09

Agreed keith, new year should bring plenty of news to digest. :-)

[keith2006] 28/12/2007 14:53

Looking back on some of the trades quite a few 10k buys, still buys ahead of sells
We may start to pick up the pace early in the new year and any good news from Gabon will start us on a roll when our flagship Okoro Setu field starts up

[5bag] 28/12/2007 13:01

someone just offloaded 809 at 103p.

I could do with level 2 for timing the trades, entry and exit. So much i cant see.

[leeson31] 28/12/2007 12:41

yeh, looks like it...

[5bag] 28/12/2007 12:33

the 500k ? trade must have been a sell

[leeson31] 28/12/2007 12:30

yes, level two sudeenly went vry busy...

[5bag] 28/12/2007 12:28

wow, in last 7 mins over 500k bought and no tick up.

[5bag] 28/12/2007 08:55

Morning all

Only up this early cos i had to sign for a parcel.lol

[leeson31] 27/12/2007 17:55

yeah, sound as a cypriot pound matey :-)

Cassy night tonight. :-)

Yeah, I hope it bounces of the 15 mda liek you too, but, I feel the 94p are is the real support, I'll be buying if it hits that price and if it starts to rise from there... if not, then just hold with current stock of course.

Take it easy .

L

[5bag] 27/12/2007 17:22

Leeson, hope u alright m8 and surviving the festive excesses

From the chart, would be nice to see a bounce of the 15day MA. Suppose thats a bit much to wish for....reckon that 45day MA looks rock solid for support though

Im hopeful of news in Jan of:-

ofa shallow reservoir results
themis marin drilling
possible acquisition of producing asset

roll on 2008

:-)