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Afren Share Chat (AFR)



Share Price: 65.45Bid: 65.45Ask: 65.55Change: -1.70 (-2.53%)Faller - Afren
Spread: 0.10Spread as %: 0.15%Open: 66.05High: 67.30Low: 64.55Yesterday’s Close: 67.15


Share Discussion for Afren (AFR)


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helx
Posts: 130
Off Topic
Opinion:No Opinion
Price:135.40
RE:should rise tomorrow...
30 Jul '13
...it may well do,BUT as we've all seen time and time again,it means very little and has very little positive effect most of the time.
 
Andydiff
Posts: 2,972
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:135.40
800k Trade after the close
30 Jul '13
The sp should rise tomorrow
helx
Posts: 130
Off Topic
Opinion:No Opinion
Price:134.70
MY OLE CHINA
29 Jul '13
I think most of us are sick to death of this stock. What an absolute joke.
china
Posts: 337
Question
Opinion:No Opinion
Price:134.30
anybody
29 Jul '13
looking at Afren at all?
wadnob
Posts: 4,532
Premium Chat Member
Observation
Opinion:No Opinion
Price:136.30
Re tanzania
17 Jul '13
Tanzania extends Afren's oil/gas exploration licence

Wed, 17th Jul 2013 16:46DAR ES SALAAM, July 17 (Reuters) - Tanzania has extended an oil and gas exploration licence held by London-listed explorer Afren and its partner for four more years, the country's energy ministry said on Thursday."">Afren, the operator with a 74 percent interest, and joint venture partner Petrodel Resources Ltd hold a production-sharing agreement in the Tanga Block, which is located offshore and onshore north-east Tanzania."The first licence extension of four years granted to the company will enable it to continue with oil and gas exploration activities in the offshore deep-sea area and in the onshore area east of Tanga region," the ministry said in a statement.Recent natural gas finds in offshore Tanzania have led to predictions it will become a major hydrocarbons exporter in the years ahead. Tanzania itself estimates its recoverable natural gas reserves at over 41.7 trillion cubic feet.Afren announced a farm-in to Petrodel's Tanga Block in March 2011. Petrodel was awarded the block during Tanzania's 2005/06 bidding round.The licence includes onshore, shallow marine and deep marine areas.The Tanzanian block lies south of Afren's 100 percent owned and operated Blocks L17 and L18 in neighbouring Kenya."A 620 km2 3D seismic survey was completed in January 2013 and processing is being fast tracked in order to bring the deeper water prospectivity to equal technical maturity as the shallow water prospects and allow the group to optimise the prospect selection ahead of exploration drilling," Afren said on its website."Afren and partners have identified a rig to drill the deeper water Calliope prospect and have a Letter of Intent (LOI) in place with the rig contractor."The ministry's permanent secretary, Eliachim Maswi, said earlier this month Tanzania would require a signature bonus of at least $2 million from firms winning blocks in an October oil and gas exploration bid round.
Andydiff
Posts: 2,972
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:135.40
900k buy at close!
16 Jul '13
Someone believes in this stock
helx
Posts: 130
Off Topic
Opinion:No Opinion
Price:138.20
Kwb 1
15 Jul '13
I don't call this sub 140 price anything other than tepid. As for a takeover,there is nowt to suggest this. Very unexciting IMHO.
casino
Posts: 511
Observation
Opinion:No Opinion
Price:137.50
Article in today's Times
13 Jul '13
Gary Parkinson's Market report.
Goldman Sachs published bullish research on the prospects for oil and gas production in the Kurdish region of Iraq, titled On the cusp of delivery: Kurdistan the next giant onshore region. The broker urged clients to buy shares in two companies working there, Afren and Gulf Keystone Petroleum, which responded by rising 3p to 137.5p and 10.75p to 176.25p, respectively.
budd
Posts: 471
Off Topic
Opinion:Strong Buy
Price:134.60
Must be a Buy for Longterm
11 Jul '13
When you think of the oil sector, you tend to
think of either the supermajors such as BP and
Shell, or the small ‘wildcat’ explorers – of which
there are hundreds. There is however a thin
slice of mid-caps which can offer investors the
best of both worlds.
By that I mean they offer the exploration
excitement and takeover potential of a small
player but also offer the assurance from
production and cash flow that the big boys
provide.
The reason there are so few mid-caps is that it’s
not easy to make the transition from explorer to
producer. Drilling success is far more common
than commercial success. The money often runs
out, which is why the junior end of the market is
a graveyard of broken dreams.
But every now and then a company makes the
leap and comes out the other side. Afren is a
prime example.
Over the last 8 years, the company has gone
from just another African explorer with no active
wells, to a fully-fledged producer, delivering
thousands of barrels of oil a day.
In 2012, revenues reached $1.5 billion, up a
remarkable 151% on the previous year. Pre-tax
profits fared even better, up 169%. And this was
against a backdrop of falling commodity prices.
During the period, the average oil price fell 2%
and the gas price actually fell 33%.
Afren’s exponential revenue growth is down to
booming production, particularly from its two
big fields, Eok and Okoro, off the coast of
Nigeria.
On the exploration side of things, Afren is
drilling like crazy. The company is now “firmly
engaged in the most active phase of exploration
activity in its history”.
The way the oil industry measures your
progress on this front is through the reserve
replacement ratio (RRR) - effectively what
you’ve discovered less what you’ve produced.
Some of the big boys in the industry find it quite
hard to replace the oil they’ve extracted. BP for
example reported an RRR of 77% in March this
year. But Afren delivered an RRR of 265%,
demonstrating its excellent growth potential.
Other than Nigeria, Afren has extensive drilling
prospects in Ghana, Kenya and Tanzania. And
outside Africa, the company also believes it
could strike it rich in Kurdistan.
As Aftren has the money to do so, it’s taking the
approach that the more you drill, the luckier you
get. In total, All up, the company has potential
reserves (including unrisked highly prospective
deposits) of almost 9 billion barrels. There are
opportunities everywhere.
We expect 2013 to have plenty of news
surrounding its huge drilling campaign as well
as a continued expansion of its production base
as more wells come on stream. Given its turbo-
charged growth, the shares look dirt cheap.
Jarnel
Posts: 2,688
Off Topic
Opinion:No Opinion
Price:137.00
helx
9 Jul '13
sound strategy mate .... I too have wasted far too much time on AFR. This will come good one day. I simply do not have the patience to wait another year (or two).



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