Afren Share Discussion Threads

[slk230] 01/2/2008 08:08

filling gap?

[mikey_b] 31/1/2008 20:57

Good find. Nice to see others passing positive comments.

[gpmh1] 31/1/2008 20:36

From another discussion board...I hope the poster doesnt mind.

Regards
gpmh1


18:14 Eremor production FraserDean 1
Hi

Have it on good authority that Eremor production should start around end of the second quarter.
They're just finalising the tie-in to nearby existing pipeline infrastructure but should add up to 2,000 b/d gross.

It's not Exxon but it more than pays the bills.

Talked to several people in recent days who have said Afren are everywhere at the moment in Nigeria trying to close deals.

Interesting times.
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[soupdragon55] 31/1/2008 20:29

true 5bag, also that rig must be doing something soon if its not already active. I reckon it would have only taken a week or so for it to travel from Gabon.

[5bag] 31/1/2008 20:16

that 'armada perkasa arrival' RNS cant be too far away now.....

[gpmh1] 31/1/2008 14:44

HOLE IN ONE LEESON!

;)
gpmh1

[keith2006] 31/1/2008 14:43

Afren are we correct Jack
No need to fill that gap Leeson lets push on LOL

[leeson31] 31/1/2008 14:38

Afren Jack . :-))

[jack brent] 31/1/2008 14:35

Anybody guess who this might present any opportunity to?

Shell warns on Nigeria operations

By Matthew Green in Lagos and Ed Crooks in London

Published: January 30 2008 22:16 | Last updated: January 30 2008 22:16

The future of one of Royal Dutch Shell 's most important businesses is at risk because the Nigerian government has not funded it properly, an internal company memo has warned.

The government's failure to finance its majority share in the Shell Petroleum Development Company, which is responsible for Shell's onshore business throughout Nigeria, posed a "big risk" to its existence, according to the memo from Basil Omiyi, Shell's country chair.

Nigeria was Shell's second most important country for oil production in 2006, the latest year for figures, behind the US.

The SPDC, 55 per cent owned by the state-owned Nigerian National Petroleum Corporation, was once a symbol of Shell's pre-eminent position in Nigeria.

But according to Mr Omiyi's memo, circulated in a November 14 e-mail and seen by the Financial Times, it now "faces a severe under funding problem".

"Funds made available by the government are very significantly short of existing requirements, leading to levels of borrowing and overdues that put the existence of the joint venture at a big risk," he wrote.

The memo also dashed hopes the company would keep pledges to quickly restore production lost through militant violence in the Niger Delta since 2006, saying output would remain below capacity this year.

Militant attacks have cost Shell about a third of its oil and gas production in Nigeria, adding to its problems when, like all large western oil groups, it is struggling to raise output. In the autumn, production was 216,000 barrels of oil equivalent a day onshore, plus 175,000 b/d from deep water. About 189,000 b/d was held up in the Delta.

Nigeria has accumulated large arrears in its payments due to bureaucratic inertia and also because politicians have diverted resources elsewhere.

Shell on Wednesday declined to comment on the memo, which was sent to staff to explain plans to cut costs at its three Nigerian exploration and production businesses. The memo warned job losses were inevitable and SPDC was likely to face a "much-reduced" budget for 2008.

Shell's problems have fuelled concerns about its reserves, which it will reveal in filings to the US Securities and Exchange Commission, probably in March.

[leeson31] 31/1/2008 14:22

free stock charts from www.advfn.com


all the yellow arrows are gaps, and they have all been filled/re-visted by the share price after each time they occur. The last one to fill is the 96.25p at the very end.

[leeson31] 31/1/2008 12:54

On Loan as % in Crest 12.29 %

[leeson31] 31/1/2008 12:54

went up on their sells. lol

[leeson31] 31/1/2008 12:51

MS reduced from 12.03% to 11.83% over two days, selling just over 500k shs in two days...

[leeson31] 31/1/2008 12:50

from 28th...

28 January 2008

AFREN plc ("the Company")

Shareholding in the Company



The Company was notified on 25th January 2008 that, as at close of business on
23rd January 2008, Morgan Stanley Securities Limited, had an interest with
direct voting rights in 32,848,899 Ordinary Shares of 1p each ("Ordinary Shares
") in the Company, representing 12.03% of the total issued share capital of the
Company.

[leeson31] 31/1/2008 12:49

31 January 2008

AFREN plc ("the Company")

Shareholding in the Company


The Company was notified on 29th January 2008 that, as at close of business on
25th January 2008, Morgan Stanley Securities Limited, had an interest with
direct voting rights in 32,314,172 Ordinary Shares of 1p each ("Ordinary Shares
") in the Company, representing 11.83% of the total issued share capital of the
Company.

[surfer2] 31/1/2008 12:25

yep cheers. it is worth your while reading up on the fundamentals . Mio a chronically undervalued company it appears . thats all ill say

[leeson31] 31/1/2008 12:15

Surfer - short term resistance was broke, so is in a mini breakout, but, it needs to get past long trm resistance for a proper breakout... looks ok imho..

no a great deal of cash, but only 161m shs, and mcap at 10m £

hope of use to u..

from a trading point of view, that could worth a punt at current sp, on the hope it gets past long term resistance, but id use a tight stop about 5.75p imho... :-)

[soupdragon55] 31/1/2008 12:07

Agreed surfer2, but it shows the increased interest in the area that Afren have a stake in, so maybe we shouldn't rule out something similar in future.

edit. Sorry just remembers the P+A rns for La noumbi last year. doh!

[surfer2] 31/1/2008 12:03

that few quid will go some way to funding Ghana appraisal for Tullow. they must think it worth it . i think mboundi contributes quite a few thousand bopd to tullow . i think it was 5 or 7,000 !. would have been perfect for Afren but bigger bidders

[soupdragon55] 31/1/2008 12:00

Spotted this on fool, its of interest as Afren have a stake in the La Noumbi field which is adjacent and on trend to M'Boundi.



Tullow Oil plc (Tullow) announces the sale of its 11% interest
in the onshore M'Boundi field in Congo (Brazzaville) to the Korea National Oil
Company (KNOC) for a total cash consideration of $435 million.

[surfer2] 31/1/2008 11:52

hi Leeson , would appreciate if Chartwise you had quick look at Mio. very good grades today
appears to be breaking out of a 5 yr downward wedge at last .im a long suffering holder . just your gut reaction to the chart not looking for fundamentals or anything .the spread has been dire though....cheers

[leeson31] 31/1/2008 11:40

cheers Arcadian. From what I've seen over the years, each time a magazine gives a tip, there's a flurry of buying, then the 'test', in that the share price goes down, then time to buy..

so, maybe we'll see that today!?

Certainly a srong buy for 2008 and onwards is AFren imho.

Revenue streams to go mad htis year and next.

20,000 bopd @ $22/b netbacks.

commence production circa 3000 bopd in about 3 to 5 weeks, building upto 20,000 bopd by Aug 08.

Lots of high impact explo assets too in their portfolio...

cheers