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What's going on on this board?
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this **************************
Wow... quite sensitive if you know what I mean. Been reading and working... Hello frieds
we will have questions for you too
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this afrenlegalaction yahoo com
This is in our legal firms hands too, and coming from an Afren contractor that is helping the Afren Legal Team, thanks to our friend: "I can confirm that xxxx estimate of current production and estimated decline is correct and also agree that the expenditure for the infield and initial drilling for Ebok fault formation would have been forecast" I guess you are happy with this information as you are a share holder, we need to believe our sources as Afren keeps his shareholders in the dark. By the way, can anybody please answer WHERE IS THE MONEY GOING? afrenlegalaction yahoo com If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this Best wishes and peace to ALL share holders, the Real Victims
I have been advised not to make further comment at this time on a public forum regarding such a sensitive issue. So no further questions please As I said this is from a third party company and it is in hands of our legal team. Can anybody please answer WHERE IS THE MONEY GOING? afrenlegalaction yahoo com If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this
I have been advised not to make further comment at this time on a public forum regarding such a sensitive issue. So no further questions please afrenlegalaction yahoo com If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this
From a third party company assessment in Africa, it is worthy to mention that NOTHING has materially changed from Afren's forecast. Their physical review of the operations of Afren Plc in Nigeria especially as regards the Ebok and Okoro fields have not been able to sustain any of the claims made by the Management of Afren Plc at this time. They have not been able to verify the claim of the management that production will be "Materially Lower." It is worthwhile to know that while the Ebok Field is currently producing between 30,000 - 31,000 bopd of which Afren currently holds 80% interest therein, equally the Okoro Field has recorded a decline which is consistent with the current life cycle of the field and this has been taken into consideration at the beginning of the year by Afren Plc. This curve in the decline of production at the Okoro field was to be addressed by the additional drilling of two new wells scheduled to come on stream in the 3rd and 4th quarter of this year. It is expected that the Capital Expenditure (Capex) of drilling those new wells would have been included in the financial package received earlier this year. Therefore, there is NO legitimate reason which appears to justify a claim in the decline in production or "Materially Lower" production. that is from a third party company and it is in hands of our legal team. Why the company doesn't specify anything to their loyal shareholders? Why the secrets? why the leaks to the Sunday times? WHERE IS THE MONEY GOING? afrenlegalaction yahoo com If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this
Afren legal action Tem has serious concerns as to where the money is going. Millions of pounds cannot vanish away in the current climate, this is not about our shares it is about our way of life. If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this **************************
We are working on a legal fashion too, keeping an eye on everything If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this
This is similar to what happened in the Hibu / Yell case using same advisors and lawyers. What if they try to transfer the assets to these new lender owned companies without shareholder approval arguing that the group is insolvent and shareholders have no "economic interest" in the proposed restructuring. If so, the dodgy bit is that Afren must have provided bond-holders some sort of cross-company guarantee to this effect when they took additional funding from the bond-holders. There was a reference to this guarantee in one of the March RNS statements or a news article recently. What we do not understand is that how are they going to circumvent the Nigerian legislation without Nigerian shareholders. We are trying to get a strong statement from the Nigerian government to protect shareholder interests. By the way If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this **************************
correct sir, for once in this saga the SH actually have a position of power. I remember with Punch PLC the shares were worthless, but the BoD and Bomdholders could not do anything without them. In the end they BH gave the SH a deal and a price on the shares. It was a battle but SH won. seems we are heading the same way.
sh like shi-t but they are in no doubt now who legally owns the company and employs mr linn to , you can make all the plans you like but the bottom line is the sh have to approve it no real value for them will be a no deal.
Hard to believe that they were refused extra time, and that an offer that offered value to stakeholders was simply dismissed. I suspect the Bondholders rejected it. Bet they would snatch to today. The Board of Seplat notes today's announcement by Afren that it has decided not to agree to Seplat's request for a timetable extension, Seplat had completed extensive due diligence on Afren and made a written proposal to the Board of Afren that provided critical and significant near-term liquidity and value for the stakeholders of Afren. The share was 7p at the time.
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
Are controlled by the same people who control the markets now and again they will fine someone like a bank to show that they are actually doing something the thing is where does that money go? You guessed it straight into a bank......
Waste of space, toothless incompetent axxxcxxxs
Why has AL set up 5 companies with amongst the directors, ex directors of Afren all who are implicated in the destruction of millions of pounds under their management??? The new IR also has a colourful track record in the oil industry according to some feedback we got. AHBH employee? (even though Afren pays that person). Thanks for the continuous emails!! By the way If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly or instead send directly to the FCA/ SFO/SEC teams now looking into this
It was to suit their agenda of pushing through the yes vote but as we all know failed miserably.
I know this, I emailed the FCA on March 19th complaining that the Presentation and RNS was utterly confusing. I pointed out that I had emailed the company seeking assistance in explaining it to me and got no reply. I also emailed Simon Hawkins on occasion. no reply. I detailed why the RNS and of offer to shareholders regarding dilution was far to complex for ordinary shareholders to understand. as such many sold out and it weakened the company and the share price. To my mind issuing a RNS stating the shareholders were going to get diluted and then add the the most complex of complex presentations added to the demise of Afren. The refusal to answer emails asking for clarification on the presentation and restructuring offer, was very damaging. I don't know if this helps but to my mind it contributed to the demise. mostly the selling of the hedges, while we were dicssuing the hedges on the BB and we know the Afren and Simon read the BB, yet they stayed quiet and allowed us believe things were better than they were. Also, the wording of RNSs and the lack of information on operations and operating profits was glaring in its absence. I consider they deliberately withheld information , and thereby eroded all trust. all the best
I agree Boxerdog1 we will need to stick with this to the end if we are going to get a chance of gaining anything. The previous board were not complacent because they took steps to protect themselves before they departed but they were incompetent when it came to running a company and they deliberately mislead shareholders about 1. about the financial position of the business and 2. the near term operational plans 3. the measures they had in place to manage market risk. If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly afrenlegalaction yahoo com
If any shareholder or interested party in Afren PLC can provide any factual information of any event involving the company that they feel should be reported to the regulatory authorities or has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly
That would be my preference for sure unless! of course I was offered a £1 a share.
many here/are prepared to lose 100% to get a fair deal from the AHBH. I suppose it was retribution of a kind, during this time we could have cashed in many times for 3p so why would we now waiver at the thought of losing 3p by refusing to sell the company. Why would we allow the AHBH.to walk away? yes they might be limping but by retrieving 25c in the $ they've done much better than a 97% loss. Don't forget this was all brought about by the AHBH. greed and the BOD. total complacency and likely a good deal of deceipt. Don't let them off the hook for a few trivial pennies. I not suggesting any reasonable offer at this stage or in the future should not be considered just lets not them slink away. Pure speculation of course.