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With all the expert financial men at Afren's disposal, along with the expertise they had in the production field, does anyone question that shareholders have been totally stitched up here? Whatever happens, those who ran this company into the ground and those that helped them do it are no better than destructive thieves.....worse in fact since they parade under the 'legal banner' and used that expertise at hand to do their dirty work instead of maintaining the company, 'trimming the fat' where needed and making sure that production was efficient and steady. (I mean, what was all that water nonsense?) All in my own opinion of course and not meant to sway anyone's else's opinion since I have no proof. After all, these people could be nice really and may have tried hard really hard for us shareholders without us knowing couldn't they? Alan could have looked at us very much the same way as he does his own 7 children and fought tooth and nail to get us all a better deal. It just didn't pan out as well as he had hoped. That's possible as well isn't it?
We had £200 mill in bank we borrowed £200 mill plus and also our production earnings for year, where has the money gone.......Looking ahead, Afren expects full year 2015 net production to average between 23,000 to 32,000 bopd, with forecast capital spend of approximately US$0.4 billion, giving priority to our existing high-margin Nigerian producing base. The guidance expectations reflect the impact of operating in a significantly lower oil price environment, where discretionary spending has been postponed subject to an improvement in the oil price environment.
Gloomybare they are not comparable as both were managed differently. that dream is a no go. There is one channel still left and that is creditors give afren reprieve and afren board get control again. at that point the general buys afren. That is plan C the board have no control now it's the creditors. Hopefully they see some commercial sense in not liquidating afren
Hi Pete. You ok? Not much activity on here now. SHs seem resigned to the fact its really just wait and see, but nothing good out there. I have been trawling the net but no news or information is leaking out from wnywhere. There is complete radio silence which is wfhat one would expext. As soon as I come across anything I will post on here, otherwise not much to say at the moment. Im wondering what is happening in the ALAG camp. You heard anything? Ive seen a couple of posts on here from people with Afren CFDs, up to £40k invested What kind of a horrendous risk is that!!
Hmmm when the shares are tradable they will close you out. As they can only close you out at 0p that is your loss. CFD's are obviously not for you. But if you complain to the FCA enough they may think that you were mis sold CFD's or not warned enough. Stranger things have happened.
the continual posts WEVE BEEN ROBBED AND LOST ALL OUR CASH. ...theres no more to it and were powerless....the b@stards
I got strong source from a investor who has 30 years investing experience, his opinion is afren will come back out from admin when poo makes a recovery
What's your thoughts?
Can someone tell me how GLG can pull their 2.29% short position on the 31/07 when the shares are suspended ,,
'By me saying those who could jump in and take a quick profit haha! These are the ones, crying the most on this site' How on earth would you be able to know the above statement Little winkle? I see you probably have more than one identity hence you've ticked your posts up, all of them! It's always better to leave a couple I would think. It looks more convincing. I know I shouldn't have pulled you up on insulting the posters here as it was always going to prompt your sort into insulting, swearing and the like... and you didn't disappoint ..but its not good for the BB so I'll refrain any further dialogue and ignore your wittering's from now on.
That's all you seem to do GUESS!!!! You have a nice day :-)
Bless you little willy. Let me guess, under 30 years of age.?. a little hot under the collar there? Your last post really was a good one. Keep em coming :)
kb123, I meant no disrespect to those genuine people who buy and sell to make money, we all by shares to make money, but the ones that try and fleece us all to make a quick buck are scum, They are doing the most shouting. I believe what has happened with Afren is a disgrace and feel for the majority who will lose money As for "Andyprick", he has not got a clue about me and who I stand for. Good luck to you in the future kb123
So from what I seen on this forum during suspension period we are unlikely to hear much in terms of news etc. Is there any update that have to made public? ( eg. Q2 production and operations news) OR is there a news black out until next steps of administration process are announced?
Regardless being happy someone is losing is uncalled for. All who lose suffers. I don't agree with shorting shares but it's allowed and those who short shares are also there to make money. I don't condemn them. I don't agree that should be allowed.
CFD is Good provided exp is not high but very risky.last year i started and now sitting on loss of circa gbp60k , uff how i stupied i was .
No it's not. I've made plenty of money. In your case you didn't understand how it worked. I wouldn't invest my own money if I wasn't clear on the risks involved.
What on earth made you think that if the shares went to 0 you wouldn't be on the hook for the money?
Wow, now I feel sick! I have had my figures burnt in the past where my shares have been closed out for not enough margin but never chased for any more than my funds lost at that time. I never realised they could change the margin in suspension, then chase me for it. I spoke to the women at IG last week and asked if I didn't want to add more to cover the 50% margin and she basically said they would close other share to cover it and if there wasn't sufficient funds at the time they came out of suspension the share would be closed and id loose that money, she didn't state anything about being chased for any more funds. I hate the stock market. Joe public literally cannot win, and the institutions cannot loose. its just a clever tool of smoke screens used to part hard working individuals like me from their money and transfer it to the well informed corporations and MM's that basically have no risk.
Margin is just to cover movements.You are always exposed to the total value of the position. Hence the warning that you can lose more than you have invested.
yeh .they are recoverying 100% from me . in case trading resume which will not happen in Afren but if it happens then some thing may come back.
that's what I thought, so basically if I had say 40,000 shares at 10p average with 15% margin so essentially £600 exposure against £4k of shares. If they now finish at zero and never trade again they will chase me for the remaining 85% i.e. £3400? fantastic, I never realised this could happen, I didn't know the margin requirement could fluctuate after they have been bought, especially not whilst in suspension. absolutely gutted. thanks for the help guys.
but surely if they want 100% margin I will loose far more?
because of CFD i suffered a lot ,huge exp on some other oil share.
CFD's bud