Afren Share Discussion Threads

[leeson31] 07/2/2008 12:08

aye, just wait fo rrns'..... share price goign good irrespective.

[mikey_b] 07/2/2008 11:32

All unqualified users with no threads created. To be ignored IMHO.

[tamtam3] 07/2/2008 11:30

AG couldn't say Jack, the only thing he have heard was a farm out
this is what he has posted

AGThe2nd - 7 Feb'08 - 09:58 - 36178 of 36215
gooner, all I have been told is 'a farm-out' has been completed. I didnt know enough about EEL to ask further questions

And this is what spp119 posted

spp119 - 7 Feb'08 - 10:06 - 36183 of 36217
I´ll testify in favour of AG.
I was a GPX holder when he first appeared on the GPX thread. And most holders including me, were - for good prior reasons - deeply sceptical and suspicious.

Yet he has proved to be exactly right in what he states. Every time.

AG, I would like to welcome you to this board.

spp119

regards
Tamtam

[jack brent] 07/2/2008 11:10

TT

Is he suggesting EEL have farmed out some of their assets to AFR?

Regards, JB

[mikey_b] 07/2/2008 11:08

hmmmm......

cyberpost - 7 Feb'08 - 09:53 - 36173 of 36191

AG - thanks for the low down. That is super news

(those of you who dont know AG - he doesnt post bull... EEN and GPX holders will testify to that. He has provided some super snippets way before it has been officially announced)


Anyone here know the guy or is he all BS & ramps like it seems?

[tamtam3] 07/2/2008 11:03

Morning guys,
look at thid post from the EEL board

AGThe2nd - 7 Feb'08 - 09:49 - 36171 of 36191

My sources tell me the farm-out has been completed.

Announcement will be made soon.

(i dont hold this stock, just passing on some info)

Different posters say AG is credible even spp119 supports him.

TT

[5bag] 07/2/2008 11:00

Like Devon, I see the likes of shell and chevron rationalising their african portfolios, theyre suffering the effects of sabotage, loss of tax incentives, license revocation and all the rest. The 'hole' would be filled by iraqi assets, which shell et al are currently in negotiations over.

[leeson31] 07/2/2008 10:27

ZENGAS - 7 Feb'08 - 09:48 - 12272 of 12276 from MTA thread,


Shell declares force majeure in Nigeria after sabotage


LAGOS (Thomson Financial) - Anglo-Dutch oil group Royal Dutch Shell said it Will not be able to honour all its export contracts from its southern Nigerian Bonny export terminal for two months because of sabotage.
"Effective Feb 7, 2008, we declared force majeure on Bonny Light Offtake
programmes for the rest of February and March following deferments caused by our inability to progress repair of three leaks on Nembe Creek trunk line," the firm said in a statement here.
"We had managed to repair one leak but are unable to repair the other three
because of serious security challenges," it added.
Shell did not give figures on the expected loss in production but industry
sources say it runs into thousands of barrels of crude.
Shell is Nigeria's largest oil operator, accounting for around half of the
country's daily output of 2.6 million barrels at peak production, but unrest in
the Niger Delta have slashed production by a quarter since January 2006.
A force majeure allows companies to suspend contractual obligations such as
deliveries of oil and gas following unforeseen events without incurring
penalties.
Last month, Shell declared a force majeure on exports from the Forcados
terminal also in the restive region for the rest of January and February because of sabotage of crude oil supply pipelines.
The company complained that local people were hampering efforts to repair
the sabotaged pipelines.

[leeson31] 07/2/2008 10:26

Looks liek we'll see 120p soon... hard to envisage the share price being unsteady towards 120p..

[alwaysbanking] 07/2/2008 10:20

Now we are moving

[leeson31] 07/2/2008 10:02

92 trades, mainly AT buy trades. 289k volume....

gap getting further away...

boding well ..

CHeers

[arcadian] 07/2/2008 09:44

Is battle afoot?

[mikey_b] 07/2/2008 08:53

Good morning chaps.

[leeson31] 07/2/2008 08:49

R2 passed.

[5bag] 07/2/2008 08:29

Its out the traps quick this am...

[leeson31] 07/2/2008 07:56

Pivots for 7th Feb 08



R3 110.33
R2 107.67
R1 106.33
PP 103.67
S1 102.33
S2 99.67
S3 98.33

[leeson31] 07/2/2008 07:52

Yes, I agree Gpmh1.

SLK320 - yes, as far as we are all aware, everything is on track.

[gpmh1] 07/2/2008 07:50

Leeson, I think the Africans have been screwed enough by the Americans etc over the last 50 years...bring in some new blood I say and give some of this wealth back to the good people of Africa.

OK.
gpmh1

[slk230] 07/2/2008 07:50

sorry not been keeping up to date - are there any indications (either way) as to whether production during 1Q are on track?
tia

[leeson31] 07/2/2008 07:42

West Africa is becoming the new Russia imho. :-)

How's it going gpmh1 ? ok I hope.

[gpmh1] 07/2/2008 07:39

Good Morning Leeson.

[leeson31] 07/2/2008 07:29

Ostrich indeed gpmh1 !! good stuff!

[gpmh1] 07/2/2008 00:21

Another snippet from that Africa Intelligence Article. Followed by an FT article that was posted here by either myself or another poster some weeks back.

Regards
gpmh1


Africa Intelligence

"A Russian-German Alliance in Nigeria? E.ON is undoubtedly the Western group with the closest bonds to Gazprom. The German concern owns a 6.5% stake in the Russian giant and Bergmann Bruckhard, who heads Ruhrgas' management committee, sits on Gazprom's board. The two groups are jointly conducting a number of projects in Europe and Russia, and primarily the North European Gas Pipeline scheme which will carry gas under the Baltic Sea (Nord Stream AG, the Swiss company that will build the pipeline, is chaired by former German chancellor Gerhard Schroder) As both E.ON and Gazprom are strongly connected with Lukman in Nigeria, they can be expected to team up on a gas liquefaction project in the country."


FT

Gazprom Nigeria move bodes ill for the west
By Dino Mahtani in London and Matthew Green in Abuja

Published: January 6 2008 19:21 | Last updated: January 6 2008 19:21

Russia's moves to tap Nigeria's huge energy reserves will send shivers through western governments already concerned about a shortage of global gas supplies.

Gazprom, Russia's state-owned energy giant, has offered to invest billions of dollars in developing the gas sector in Nigeria, where western majors have traditionally put most of their efforts into extracting oil.

Gazprom's move comes at a time when North American and European governments are increasingly turning to gas imports to meet rising demand as domestic production falls.

Western nations are also particularly keen on securing supplies of liquefied natural gas – gas cooled to a liquid so it can be transported by tankers around the globe – to reduce their dependence on vulnerable pipelines. Demand for LNG is set to reach 16 per cent of global gas demand by 2015, but supply conditions are tightening.

Delays in implementing LNG plants in Egypt, Australia, Indonesia, Russia and Iran could give Nigeria, with its giant gas reserves and accessibility for US and European markets, even more strategic importance.

Gazprom has yet to submit detailed proposals to the Nigerian government for developing its gas industry, but the company says it is willing to help capture gas currently burned as waste during oil production in the Niger Delta.

Nigerian energy officials say Gazprom executives have tabled no specific proposals to build a new LNG plant in Nigeria, which currently has a single LNG export facility.

But Nigerian officials believe that ultimately the Russians will aim to export gas through their own LNG plant, or perhaps via Nigeria's planned Trans-Sahara pipeline.

"Gazprom is talking about co-operating across the whole spectrum of Nigeria's gas industry," said a senior Nigerian energy industry official. "But their ultimate aim is to export gas to the market in Europe and America, and that would presumably be through LNG."

Analysts say Gazprom has also signed an accord to help develop an LNG plant in Nigeria's neighbour, Equatorial Guinea, which might also provide a potential route for exporting Nigeria's gas reserves to the west.

So far, concerns over cost, security, political risk and the environment as well as problems sourcing raw gas supply have hindered oil multi-nationals in meeting growing LNG demand.

"Because you have a multiplicity of factors it's not that there is a silver bullet out there that could solve these problems," said Frank Harris, an LNG expert at Wood Mackenzie, energy consultants.

Consuming countries had some cause to celebrate late last year, when a group of major companies including Chevron, Total, BP and Eni decided to build an LNG plant in Angola.

But out of 11 LNG projects thought by industry analysts to be ready for an investment decision last year, only two, in Angola and Australia, have come through. Together they should add 10m tonnes per year of production capacity – 80m less than if all 11 had been sanctioned.

Three projects in Nigeria are also falling behind schedule because of security concerns. Gazprom's offer to generate power in Nigeria from gas also raises questions about how much will be left for export.

"The Russian government wants Gazprom to anchor the expanding relationship between Nigeria and the Russian Federation," a Nigerian oil official said. "They now have to come down to the detail of what they want to do. We are waiting for them."

Russian energy giant will face problems if gas deal goes ahead

By Matthew Green in Abuja

Gazprom is offering to fund gas projects in Nigeria to try to win a foothold in one of the leading energy exploration zones in the world.

Nigerian officials enthuse about the possibility of projects, from regional gas pipelines to domestic power generation, hoping the Russian state-owned company will provide the know-how and funds.

Few doubt that Nigeria has giant reserves of gas that Gazprom covets, but most in the industry agree that winning the right to extract it may not be easy, given competition from western companies. Some executives also question how far Gazprom's experience in the former Soviet Union will equip it to operate in a very different political and technical environment.

Gazprom's proposal includes a possible system to gather gas burned off during oil production in the Niger Delta in a process known as "flaring". But companies such as Royal Dutch Shell are expanding gas-gathering projects of their own and have little incentive to give Gazprom access to their gas.

Even if Gazprom could strike a deal, the costs and security problems of working in the Niger Delta, where militant activity remains rife, are likely to be huge. The Russian company would probably need to develop gas fields of its own, but many of the proven reserves in Nigeria are in oil blocks already claimed by multi-national companies.

Gazprom could start looking for gas in ultra-deepwater blocks offshore, or attempt to convince the government to give it blocks during future licensing rounds. But much will depend on Nigeria's goodwill.

The country has yet to specify a gas policy, leaving many investment plans by western majors on hold. The government's problems funding joint ventures with oil companies have also delayed plans to develop the gas sector.

[gpmh1] 06/2/2008 21:35

Soup, I recently said that the co-operation agreement with E.ON was an ostrich feather in Afren's cap...I should have said that Afren is the feather in E.ON's cap and possibly many other multi billion dollar companies caps!

Regards
gpmh1

[soupdragon55] 06/2/2008 21:17

thanks gpmh1 and as you say very interesting.
How ironic that gazprom might have to deal with a small AIM listed company who have political clout, usually its the small AIM companies having to contend with the political influence of gazprom.