Afren Share Discussion Threads

[jack brent] 05/1/2008 16:11

The Times

TIDDLER TO WATCH

Shares in Afren (AFRE.L: Quote, Profile, Research) rose seven pence to 115 pence after broker Jeffries raised its target price to 129 pence with a "buy" recommendation. The company, which explores for oilfields in Nigeria, Ghana, Gabon and Congo Brazzaville, says it is about to become a producer and will begin production from a field off Nigeria early in the second quarter of this year.

Regards, JB

[olivercromwell] 05/1/2008 15:48

you only had to appreciate the response to DGO's RNS on friday to see how the market responds to the flow of black gold. With AFR being a virgin operator any RNS's detailing substantial output should be greeted with delirium from the hordes, myself included.

Very exciting stuff for the next 2 years or so, very exciting indeed.

regards

oc

[leeson31] 05/1/2008 15:21

aye, afr still have 4.4% through a 9% dangote holding.. ( afr have 50% of dangote)...

but, we'll have to see what transpires on that one..

ghana and angola do look interesting, and it will be interesting to see how afren deal with their 95% stake of the Keta block..

just wait though til afr starts pumping out production updates in due course... if they do it monthly, then production should be rising by 2500 bops, workign upto aug 08 at 20,000 bopd or thereabouts..

those rns' will bring in the crowds so to speak :-) and no doubt some whooshes !!

[5bag] 05/1/2008 15:03

Leeson, i was concerned that the JDZ partnership would be broken, i.e afren have no part of the new deal with addax. But if thats not the case, and afren are still in there, then it looks promising, cos addax dont hang about...

[olivercromwell] 05/1/2008 15:01

sd55

yes, fantastic stuff

much obliged

oliverC

[soupdragon55] 05/1/2008 14:59

does that work? [Does for me.]

[leeson31] 05/1/2008 14:55

its down to the operator of JDZ 5bag at the mo... a tight hole... but, with ownership changing recenlty to Addax things could move in due course....

[taurusthebear] 05/1/2008 14:54

Thanks, chaps! I'm thinking of adding a promising oil stock to my portfolio, and AFR looks interesting. :0)

[olivercromwell] 05/1/2008 14:54

sd55,

your link not working -

will search the net

cheers

oc

[olivercromwell] 05/1/2008 14:50

much obliged guys

sunday will be my 'analysis of afren' day

oc

[soupdragon55] 05/1/2008 14:46

here's the tristone note.


https://research.tristonecapital.com/AFR_IC_07_10_29.pdf

[5bag] 05/1/2008 14:45

Further news (apart from Okoro Setu) to look forward to this year:

La Noumbi - Further exploration following on from Doungou dry hole
Ofa - well tests and production start-up
Eremor Field - development work
Themis marin - exploration activities
Iris marin - exploration activities
Conversion (hopefully) of Ibkelia license from a TEA to PSC agreement
Angola Block 16 - exploration drilling
Ghana Keta Block - Cuda prospect exploration drilling

All the above can be found of Afrens website, not sure how often they update it.

Question:
JDZ - Where do Afren now stand regarding this? Answers on a postcard please.

[leeson31] 05/1/2008 14:43

cheers.



thats an old er one... excluding ghan and angola... but detailed nonetheless

[olivercromwell] 05/1/2008 14:39

rest of message cut off

kindest regards for any input on broker notes

ps leeson, good input ta

[olivercromwell] 05/1/2008 14:37

thread,

Can someone post a link to any recent broker notes that may be available?

Company estimates for FY08 at £150M is a fantastic achievement for a company of this size and maturity. Profits

[leeson31] 05/1/2008 14:23

yeah i think they intend to work on upstream distribution of LNG products.... paving been laid i think...

[alwaysbanking] 05/1/2008 14:11

Leeson31 hasn't afren done a deal with GAS somewhere down the line re the processing of gas

[leeson31] 05/1/2008 14:03

flint - theyre just indicators are various support, and resistance points. nothing definate, but good for general rules of anticapated range movements. If you check the MINE thread there is a lot of info on it in the header..

cheers

[leeson31] 05/1/2008 13:50

interesting, cheers Sue.

[flintsurfer] 05/1/2008 13:50

Leeson
I must admit, I trade on principles, wider economic pictures, management teams and ....plain luck!lol
Can you quickly explain your pivots...?
Many thanks in advance
Flint

[leeson31] 05/1/2008 12:52

Mondays Pivots;

R3 130.78
R2 124.89
R1 119.78
PP 113.89
S1 108.78
S2 102.89
S3 97.78

interesting to note the (probable) daily range on Afren now expanding each day, for Mondays Pivots, the share price S3 97.78p point to R3 130.78p a 32p range !! As Afren (imho) rises in due course to circa 150p area, it will really be properly tradable.... with potential daily fluctuations of circa 10p....

Roll on R2 Monday/or next week..

[makkaroni] 05/1/2008 09:25

waiting for a new Tristone AFR-Price-Target

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