Afren Share Discussion Threads

[marmar80] 31/7/2015 11:17

Maybe this is not the best moment to say that (I am really sorry for all the Afren investors - I was almost one of them!), but as I said a few times already, there is still a chance to recover losses, chance called Oxus Gold. One good RNS and all debts sorted out. All welcome.

[bustedflush2] 31/7/2015 10:50

BUST just as I have been saying for months.

How much have all the deluded idiots lost I wonder ?

[zulu002] 31/7/2015 10:47

Just heard the news. My commiserations to all here, I have lost out to a few dusters in aim and it is not nice. Hope good luck follows this and all of you manage to regain losses elsewhere.

[escondido] 31/7/2015 10:46

Terrible state of affairs.
I fully understand the desire for some sort of retribution to a few of the individuals involved.
I mean of the physical sort.
They are nothing more than a bunch of scam artists and deserve everything they have coming to them.
I think we need the ol' US army pack of cards....

GL to all ripped off here.

[hpcg] 31/7/2015 10:35

BCKTTSIM - no one is going to make money out of the remains of Afren. Debt holders will not be close to getting back to par. These are terrible assets discarded by the a major and which are useless in a low oil price environment. This is something which shareholders could never seem to get to grips with.

[neilcrom] 31/7/2015 10:30

Afr was a darling company and see how bad the management was, resulting in afr in deep sh it.

Afr directors hardly have any stake in the company, hence they care less.

Director should not take salary, instead take shares. JLP is good example
where not only director took shares instead of salary, the shares was issued at
huge premium of 5p (see RNS). director also bought more shares recently.

See you guys at JLP, can multibag within weeks. Huge mining licence due next
week. AMC went multibag previously and JLP could be following the trend.
cash rich as well (so no placing) and in JV discussion with large platinum major.

If you looking for another oiler, RMP is a good bet. Drilling next week for next to producing basin in asia.

[bckttsim] 31/7/2015 10:29

Some ones going to make money here......not the shareholders important step in preserving value in the Company's subsidiaries. No other company in the Afren Group has appointed administrators today Who owns this bit then !

[the guardian] 31/7/2015 10:29

I feel sorry for those of you who were genuine investors. A lot of hard earned money has no doubt been lost.

It will be interesting to see who picks up the assets - some shell company no doubt. You will probably never find out who the new owners are.

[greenrichard] 31/7/2015 10:11

THE END
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[driller81] 31/7/2015 10:06

Whooosh ha. Should have cashed in when i was 260% up.

[krr13] 31/7/2015 10:00

Keeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeerumba

[marmar80] 31/7/2015 09:59

Sorry to all here.

[andy84uk] 31/7/2015 09:50

Pretty much exactly a year from its fall from £1.50 to administration today. A promosing future for a FTSE 250 company decimated by poor management.

[pugg1ey] 31/7/2015 09:50

£1.5billion to zero in a year, just wow. You would have trouble trying to burn that amount in the same timeline!

[hpcg] 31/7/2015 09:46

And that is the end of that.

[mrwhits1] 29/7/2015 20:24

@danger,

To be clear I do not spread bet, been there, done that.

I use CFD's for my short positions, so it's an amount of "shares" reflected in the CFD, i.e. 2000 CFD's are just the same as 2000 shares, just short, which I'm sure you already know /appreciate.

Any how, margin requirement will be met from existing funds in the account, and roll on a near term conclusion.

Regards

[hpcg] 29/7/2015 15:38

danger, mrwhits, I agree, small positions on stable markets is best, preferably distributed across short and long and not too concentrated in one sector. AFR is slightly different as one is betting against the herd. Of course as the herd move share prices irrationally one needs a very large available margin.

I never use stops, though I do use limits, as sometimes shares move violently for a short period before returning to where they started.

[dangersimpson2] 29/7/2015 14:59

I like to think in terms of total exposure not £/point.

So if I want to short £2k of shares and they are trading at 200p then that's £10/pont.

Given that guaranteed stops are not always available and prevalence of spikes up in even the worst of companies that take out guaranteed stops I prefer to keep my total exposure to any one company low.

Of course when you get a likeliehood of a total wipeout like we have in AFR I wish I had been braver but for long term results more small short positions beats 1 or 2 big bets.

[mrwhits1] 29/7/2015 14:12

@JakNife,

and its only for non risk controlled bets, so, if you are with IG, like me, you couldn't get a risk controlled bet at the time, then they work out the margin as if the position is long, i.e. all the downside in the price even though you are short and say in profit(me again!)

My short positions are volatility based, so I "risk" 1.5% of my overall portfolio per bet, no more than about 6-8% overall(so 4-6 bets at most at any time), so reward is directly related to volatility, which I use ATR as a measure, multiplied by 2.5 to 3 times for a stop, for my 1.5% risk.

If however, as I would imagine, a lot of folks just "punt" without thinking about the amounts they are risking, esp if they are using a spread bet account(unlike a cfd account :-) ) they could quite easily over lever, and wouldn't realise it, as they think "its only £X/point, and it cant move more than 20% against me, cos that is what I'm willing to sell at when it goes wrong" until the SB/CFD provider asks them to cough up the 30/50/100% margin even though it is suspended, short, and in profit.

I think quite a few on either side of this are going to get caught again by over leverage.

Needless to say I will be sleeping soundly every night until this is resolved.

As a side IG informed me that if I couldn't meet the margin requirement, they would close any other open positions to cover the margin requirement without my say. If after that it still wasn't covered then they would be chasing up for the extra monies to cover any margin.

Not a situation I will be in, unless they (AFR.L) receive an offer for the whole of the share capital for a price WAY above my non guaranteed stop after gapping up.

Not a scenario I envisage either.

Regards

[dangersimpson2] 29/7/2015 14:02

On the App if you click on your position (or any company in the search) then 'Market Data' and you'll see the 'Sentiment' graph showing 84% long. Click on that and you get a more detailed breakdown e.g. 251-500 IG client accounts have an open position. At the top of this screen is 'Other positions taken by clients trading this market' which gives the info on BLVN etc.

HTH

[mrwhits1] 29/7/2015 13:30

good call re BLVN, out of interest, ho did you find out the ratios long/short and other positions etc?

Regards

[hpcg] 29/7/2015 13:29

mrwhits - I can't decide what it means. My first thought was that it might be coming out of suspension next week, or going in to admin, but I don't know how they would know either of those. My second thought is that they have no idea how long the shares will be suspended and don't like having positions sitting around doing nothing, so they would rather do a bit of tidying up in this round about way. Those long are likely to be losers anyway so concreting their deals above the end price is not going to cost money - they will make it back anyway. For those short they could reduce their liability a bit. Realistically I guess they know as little about what will happen next as the rest of us so we may as well all be made to pay for out positions. I am sure more experienced people than I will know what it really means.