Register
Login:
Share:
Email Facebook Twitter

AFR Share Chat - RSS Feed

Afren Share Chat (AFR)



Share Price: 71.75Bid: 71.70Ask: 71.80Change: 0.00 (0.00%)No Movement on Afren
Spread: 0.10Spread as %: 0.14%Open: 70.60High: 73.00Low: 70.15Yesterday’s Close: 71.75


Share Discussion for Afren (AFR)


Thread ViewThread View
Please Login or Register to post messages
Posts per page:


casino
Posts: 511
Answer
Opinion:No Opinion
Price:131.10
View Thread (2)
RE: 120-140 trading range
17 Jun '13
You did well to get the price right as you say sweet timing, Afren will breakthrough, in the meantime this is a milking machine, enjoy!!
 
jollyspeculator
Posts: 14,931
Off Topic
Opinion:Weak Buy
Price:130.40
View Thread (2)
120-140 trading range
17 Jun '13
is Jolly powerful...is it those damn computers lol??
helx
Posts: 130
Off Topic
Opinion:No Opinion
Price:129.40
The only way is Essex more like
16 Jun '13
Why? If these have not gone up on the back of the past 2years worth of progress and good news,what makes you think they will now.
Ramazotti
Posts: 190
Premium Chat Member
Observation
Opinion:Strong Buy
Price:129.40
the only way is up
16 Jun '13
all I can say is Buy......top up now
jollyspeculator
Posts: 14,931
Off Topic
Opinion:Weak Buy
Price:129.40
v Jolly here
14 Jun '13
sweet sweet timing lol
casino
Posts: 511
Answer
Opinion:No Opinion
Price:127.00
View Thread (2)
RE: swing trading
14 Jun '13
Who's a Jolly swinger then!
jollyspeculator
Posts: 14,931
Off Topic
Opinion:Weak Buy
Price:126.60
View Thread (2)
swing trading
14 Jun '13
is the game, it seems...roll on 140?
tcan54
Posts: 190
Off Topic
Opinion:Buy
Price:119.00
volume
13 Jun '13
Some nice buys and a busy day here, somethings going to happen, lets hope its up.
Priteshv01
Posts: 4
Off Topic
Opinion:No Opinion
Price:118.90
ft article
13 Jun '13
June 9, 2013 2:31 pm
Afren’s Nigerian move under scrutiny
By Sylvia Pfeifer
The top management of Afren is sitting on a paper profit of close to $23m after the Africa-focused oil and gas producer raised its stake in a Nigerian company in which it invested three years ago.
The personal interest of Afren’s chairman, chief executive, chief financial officer and chief operating officer in the affiliate was not declared at the time of the original purchase in 2010, nor in any subsequent annual reports. It was finally revealed in a circular last month to shareholders about the separate transaction between Afren and the affiliate, First Hydrocarbon Nigeria.

The transaction was approved last month but the import of the belated disclosure of the personal stakes in FHN has come under scrutiny from several shareholders in recent days, according to people familiar with the situation. It comes ahead of Afren’s annual meeting on Tuesday.
At a time of heightened investor concern about corporate governance at companies focused on emerging market economies, notably the controversy surrounding Eurasian Natural Resources Corporation, shareholder experts say absolute transparency is vital.
“Shareholders are so dependent on companies being transparent in their disclosures,” said Sarah Wilson, chief executive at Manifest, the proxy voting agency. “In something like this it undermines trust when something emerges post a transaction. Simply hiding behind the rules is not enough. There is the letter and then there is the spirit of the rules.”
Association of British Insurers declined to comment on the case but added: “The basis of good corporate governance is ‘comply and explain’ to ensure that companies follow good governance, and set out at the soonest possibly opportunity issues or aspects for shareholders to consider or approve.”
FHN was set up by Afren in 2009 as a minority joint venture with Nigerian partners in order to capture opportunities open to “indigenous” majority Nigerian-owned companies.
Under the terms of the original purchase, Afren’s top directors in 2010 personally acquired 15 per cent of FHN’s then issued share capital at a price of $0.13 a share.
At the time, the affiliate did not own any assets but, according to the circular it had entered into a conditional sale and purchase agreement to buy a 45 per cent interest in an exploration licence area called OML-26.
Under the transaction announced last month, Afren is proposing to buy 18m shares in FHN at $2.47 per share. At that price, Afren’s management interest in FHN is worth $24m today – for an original investment of $1.3m.
Afren’s management has courted shareholder ire i
Priteshv01
Posts: 4
Off Topic
Opinion:No Opinion
Price:118.90
ft article
13 Jun '13
June 9, 2013 2:31 pm
Afren’s Nigerian move under scrutiny
By Sylvia Pfeifer
The top management of Afren is sitting on a paper profit of close to $23m after the Africa-focused oil and gas producer raised its stake in a Nigerian company in which it invested three years ago.
The personal interest of Afren’s chairman, chief executive, chief financial officer and chief operating officer in the affiliate was not declared at the time of the original purchase in 2010, nor in any subsequent annual reports. It was finally revealed in a circular last month to shareholders about the separate transaction between Afren and the affiliate, First Hydrocarbon Nigeria.
More
ON THIS TOPIC
Afren figures lifted by Nigeria growth
Number Cruncher African exploration success boosts Afren
Afren confirms major Kurdistan oil find
Number Cruncher Afren boosted by dealmaking
IN OIL & GAS
Buy us or leave us, JKX tells ‘raiders’
Oil flagship hits new lows after Batista sales
Encana hires former BP executive Suttles for chief’s job
India’s ONGC backtracks over Mozambique gasfield
The transaction was approved last month but the import of the belated disclosure of the personal stakes in FHN has come under scrutiny from several shareholders in recent days, according to people familiar with the situation. It comes ahead of Afren’s annual meeting on Tuesday.
At a time of heightened investor concern about corporate governance at companies focused on emerging market economies, notably the controversy surrounding Eurasian Natural Resources Corporation, shareholder experts say absolute transparency is vital.
“Shareholders are so dependent on companies being transparent in their disclosures,” said Sarah Wilson, chief executive at Manifest, the proxy voting agency. “In something like this it undermines trust when something emerges post a transaction. Simply hiding behind the rules is not enough. There is the letter and then there is the spirit of the rules.”
Association of British Insurers declined to comment on the case but added: “The basis of good corporate governance is ‘comply and explain’ to ensure that companies follow good governance, and set out at the soonest possibly opportunity issues or aspects for shareholders to consider or approve.”
FHN was set up by Afren in 2009 as a minority joint venture with Nigerian partners in order to capture opportunities open to “indigenous” majority Nigerian-owned companies.
Under the terms of the original purchase, Afren’s top directors in 2010 personally acquired 15 per cent of FHN’s then issued share capital at a price of $0.13 a share.
At the time, the affiliate did not own any assets but, according to the circular



Share Trading BrochureRequest your Free brochures on share dealing, spread betting and CFDs

Sign up for Live Prices
Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.