Yes with all the positive news this year, increased production, increased profits, the de risk in Kurdistan, all but one drilling results being fantastic, takeover rumours, the euro zone crisis in a better place now than 8 months ago, all we have to show is a 3p rise. People here talked about afren being a cert to make 200p by year end, we are on 134p heading into nov. I just don't see the SP rising short term, I mean why would it? I don't want to be out here as we all believe afren are going places but the SP has just stalled massively. I know there will be people who will say I am expecting too much but seriously 134p is a joke. The Kurdistan assets alone are worth 4bn dollars - afren got them so cheaply. MAGP has risen almost 1000% in the last year and its only going one way - up - I am pumping more money in there.
Winter has just arrived up here in Scotland . Snowing outside here in Aberdeen Temp 1% Centigrade . Oil and gas Prices will start eo rise as Heating will be on longer and of course Electric usage will increase with shorter day light hours.It is forecast to be a long harsh Winter across Europe and USA and a few other northern and southern Regions
Think I may follow your advice on the next spike, as mentioned regardless of good news Afren just does not seem to be able to maintain any kind of significant rise, we are back on the slow slide south yet again, frustrating and very disappointing when you consider its not an AIM share where ups and downs happen daily, for some reason Afren just does not appear to catch the appetite of the wider market, so the next time we get to the high 140s I will be selling 50% and just see what happens.
For the very same reason I offloaded a third of my holding @ 139p just under two weeks back, will probably let the rest run for now. Must say I'm in MAGP also, decent share and gutted I didn't get in earlier and with more funds.
I used my funds from here to average down in SHFT. Massive gamble lol
Taking mid Feb as a guide Afren at 131 only Ophir out of O&G listed in the top 200 companies has increased SP. There's only a handful on the Aim, Providence, Amerisur, Magnolia spring to mind look at the likes of Gkp, Rkh, Max and Borders have lost badly. You are invested in a minefield, you have chosen to invest in a very good company but your entry price was + 85% above the November low. There are many that bought above your price but also took advantage when the SP dropped to 99 acouple of months ago,
I've traded and made over 100% since November but I'm still £10k down having bought at 160,18 months ago.
As much as I like Afren and believe medium/long term they will do really well, I have decided next time this peaks (at the 145p mark) I am going to sell half my holding. The SP here has just completely stalled and I have lost faith in the SP here. Everything has been going amazing at Afren but the SP just never reflects the progress being made. My investment here has only increased 3.8% since February, its just not good enough, especially when I hold MAGP which has risen 300% in that same period. If I had endless pots of money I would happily keep my holding here but I just believe I can make more money elsewhere. For that reason I'm out.
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