Afren Share Discussion Threads

[utsushi] 06/1/2008 10:09

Jack, thanks..where can i acccess these brokers notes?

[jack brent] 06/1/2008 01:48

Santori

Have a look at the Tristone or Merryl Lynch brokers notes and they'll explain it to you.

[makkaroni] 06/1/2008 00:18

ok Jeffries, 1.29 is a good target...


...for the next week :-))))))))))))))))))))

[riverdiver] 05/1/2008 21:53

I agree, market cap should be a lot more.

[utsushi] 05/1/2008 21:49

The share price says otherwise (and that's what counts)..so i'm sure i've missed something but don't see how even 20,000 bpd, at £50 quid per barrel, equates to a market cap of £314m?

[westmoreland lad] 05/1/2008 20:43

5bag -- jeffries were always modest !

Buggar it -- think I'll open another bottle

[5bag] 05/1/2008 20:24

latest RNS on Okoro Setu

LONDON (Thomson Financial) - Afren PLC said it is on track to achieve first
oil in the first quarter of 2008 and production of 15,000-20,000 barrels per day
in mid 2008 at its Okoro Setu project in Nigeria.
The company also announced the sail away ceremony for the Armada Perkasa
FPSO (floating production, storage and offloading vessel) in Singapore, which is
due to arrive at the Okoro terminal in February.
In the base case field development plan, up to five oil producers will be
drilled from a single unmanned well head platform and oil will be transported by
pipeline to the FPSO, moored 800 metres from the well head structure, for
processing and storage, Afren said.

[5bag] 05/1/2008 20:21

Westie, thats the up-to-date projection of first oil, from the company.

It is hardly any time, and the major activities on the okoro and setu fields start very shortly. Just gonna sit back and enjoy it... Expect more northwards movement here...

[westmoreland lad] 05/1/2008 20:17

5bag -- 'RNS - end of 1st 1/4 '

That's no time at all to wait -- no wonder we're heading north ?

[5bag] 05/1/2008 20:07

So youve got 45 days really and the way the share price is moving, towards production etc, theres no reason why you wont make a profit in 20 days and i dont even wanna guess what the share price will be in 45 days, but should be much greater than the 116p you paid.

edit - We have a jeffries broker 'buy' target 129p

[logica2me] 05/1/2008 20:03

Cheers. I picked up a T20 on Friday and don't particularly want to 'buy' the shares yes (most of my money tied up in other stuff) so I may just roll over onto a T25 when the T date is up. Hopefully they'll be a decent profit to buffer the next trade!

Log

[5bag] 05/1/2008 19:57

logica, end of Q1 last i heard.

[5bag] 05/1/2008 19:56

One which isnt mentioned of afrens website, thought we had an exploration license in Angola on Cabinda block 'B'. No mention of it.???

[logica2me] 05/1/2008 19:56

5bag

When, approximately, do you think that RNS will come?

[5bag] 05/1/2008 19:46

Okoro well to be drilled first and wellhead gear installed, then setu well drilled and wellhead gear installed, setu well then tied back to the okoro well, and pipes laid to the FPSO, including gas lift. So, a bit of work to do for the offshore team, then loads of the black stuff is Afrens. That initial 'we have oil flowing' RNS will be magic. :-)

[5bag] 05/1/2008 19:33

yea haaaa

aston villa 0 - 2 man utd

[jack brent] 05/1/2008 17:42

Rigzone had the rig at Gabon at least two weeks before it got there. Probably just publishing what the theoretical schedule is as opposed to actual.

Either way, rig should be finished within a fortnight.

[soupdragon55] 05/1/2008 17:29

That was my thinking as well JB, been trying to find if there's any other indicators. Perhaps they are just finishing up in Gabon and preparing to move, not sure if rigzone every have a status saying its inbetween jobs.

From Sterlings website

"The 911km2 offshore licence extends from the shoreline to a water depth of approximately 60 meters. Sterling holds a 20.57%* working interest and operates the Themis Marin PSC."

[jack brent] 05/1/2008 17:26

Soup

Think Gabon was only spudded on Xmas eve so be surprised if rig was already at Okoro. Saying that I think it is a fairly shallow prospect?

[leeson31] 05/1/2008 17:15

....interesting... from ipo price to date, the resistance line is not that far away from being hit... about 136p...


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[soupdragon55] 05/1/2008 17:00

I like the name of the operator and its location. My guess is that its on its way now.

[soupdragon55] 05/1/2008 16:40

ok chaps just to add to the excitement, have a look at rigzone.

[leeson31] 05/1/2008 16:35

bit of speculative fun :-)


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[olivercromwell] 05/1/2008 16:30

i like the terminology still being used to describe the company ie 'tiddler' which implies a company that has a great deal of growing to do..

i;m excited and i haven't even bought yet!

man united v villa calls

cheers for the notes guys

oc