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Afren Share Chat (AFR)



Share Price: 99.85Bid: 99.70Ask: 99.85Change: 2.85 (+2.94%)Riser - Afren
Spread: 0.15Spread as %: 0.15%Open: 96.75High: 100.00Low: 95.80Yesterday’s Close: 97.00


Share Discussion for Afren (AFR)


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thetruthhurts
Posts: 4,240
Off Topic
Opinion:No Opinion
Price:96.55
.
29 Aug '14
Sorry 205k buy at 97p!

Makes mine look silly
 
thetruthhurts
Posts: 4,240
Off Topic
Opinion:No Opinion
Price:96.45
Moving up
29 Aug '14
Buys at 97p
pekingduck
Posts: 169
Observation
Opinion:No Opinion
Price:97.30
Onwards..
29 Aug '14
No doubt like others invested here, have been stewing over the grubby behaviour of the execs at Sfren for the last month and seriously thought about pulling the pin on my investment. Am glad i didn't - after listening to the call this morning, was greatly reassured by the calm, measured, confident tone from both Imomoh and Hayward. After previous calls, when there was always an air of exasperation, frustration and palpable mistrust, felt that the analysts also were willing to play ball, give these guys time to demonstrate they mean to make serious changes to the way Afren operates. Added to my holding at just under 92p during the call. I think H2 could be difficult for earnings given lower brent price, much higher capex spend thatn H1 and less benefit from tax breaks, but think we can see 50k bbpd by end 2015 and return to previous levels of profit. Next 4 months shd also see a lot of drill bit activity and hopefully an easier environment in Iraq. Long 180k shares and looking for a brighter 2015..GLA
testpack3
Posts: 231
Observation
Opinion:Hold
Price:96.90
Any holder or buyer
29 Aug '14
of AFR is accepting BOD's opinions, as facts, that there will be no impairments to 2012/2013 accounts. Note 10, on the rns shows some big numbers. The following is pasted from notes in the 2013 A/cs on deferred taxation, and may ( I'm unsure not being a CA), have some relevance to the allegations against directors, in that there is a payment to partnerships of $300M, from which payments could have been made AFR directors, allegedly, not fact, and a guess on my part, for the purpose of attempting to ascertain if there is anything more serious afoot here. Dangerous game know.

During 2013, the Group received clarification of the tax position in respect of its Ebok asset in Nigeria. Afren Resources Limited, the
subsidiary which holds Afren’s interest in the Ebok asset, will benefit from the award of a five-year tax exemption which is effective from
the commencement of commercial production until May 2016. As a result, no income tax will be payable in respect of the 2011-2016 period
and therefore the provision for all current tax provided for up to the point of confirming the five-year tax exemption has been reversed in the
current period resulting in a current tax credit of US$254.3 million and a deferred tax credit of US$192.7 million. The Group has recognised
a deferred tax asset of US$97.5 million, representing the expected future tax benefit of depreciation charged in excess of capital allowances
claimed to date.
During 2013, the Group agreed to make payments of US$300.0 million in relation to amending the structure of its partnerships, one of the
principal benefits of which is securing future tax benefits relating to the rights to capital allowances available for future utilisation.

Any thoughts from accountants welcome. All IMHO of course. GL
nighthawk
Posts: 42,839
Off Topic
Opinion:No Opinion
Price:96.30
AFR
29 Aug '14
Bots buying ..
ksarar
Posts: 1,942
Off Topic
Opinion:No Opinion
Price:96.30
Liked.
29 Aug '14
The 4:5 million it trades after hours last night?
Haven't seen any one mention it.
thetruthhurts
Posts: 4,240
Off Topic
Opinion:No Opinion
Price:96.50
.
29 Aug '14
Even Westerhouse 180 would be good. Hopefully a nice climb back
nighthawk
Posts: 42,839
Off Topic
Opinion:No Opinion
Price:96.55
.............1............
29 Aug '14
Auction - Liberum Capital Buy 246.00 246.00...blimey
Andydiff
Posts: 2,718
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:96.15
29-Aug-14 Liberum Capital Buy 246.0
29 Aug '14
That's 256% up from where we are now.
I'll take that
nighthawk
Posts: 42,839
Off Topic
Opinion:No Opinion
Price:96.65
AFR
29 Aug '14
Back now...quick one....



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