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You could start posting on one of the test stock pages .
You all took a gamble on Afren and lost!!! Stop whinging and look to recoup your losses via another share You all knew what you were getting into, your just a bunch of whingers who can't take losing, so I suggest you just put you few quid in a little money box beside your beds!!!! Tickety Boo!!!
As shares are now de-listed from FTSE soon we will lose this discussion board. If I am not wrong from past similar experiences Afren BB will be available for next 5-6months, and then it will disappear. Do we need to have some alternative platform to use after 6months, if so what this could be?
Thats where the 200 mill went....
I suggest you all move on to another share and take it on the chin!!! Shares are a risk and be assured all BOD's will do whatever it takes to save their own monies. We will not see a penny through any route you chose to go down Just got to get in and get out at the right time before the B'stard's screw you!!!!
To clear up the debate on FHN, see the Annual Report - page 146. AFR has 78% with an agreement in place for the remaining 22%. AR page 146 (AFR has 78% of FHN): On 15 April 2015 the Group signed an agreement with Earl-Act Global Investments Limited (EAG) and CSL Trustees Limited (CSL), an affiliate of EAG, to acquire the 22% of shares in First Hydrocarbon Nigeria Company Limited (FHN) that the Group does not currently own. Afren has amended the terms of the put/call option with EAG announced on 5 July 2013 in respect of 18,299,993 shares in FHN to be acquired at US$3.32 per share and has also agreed to purchase the 13,780,008 FHN shares owned by CSL at US$2.80 per share. In each case such shares will now be acquired and the purchase price will be payable in equal quarterly instalments from 30 June 2017 to 30 September 2019 (together with annual interest of LIBOR + 6.5% payable in cash and 2.5% payable in kind payable in respect of the purchase price). The Group has also successfully re-scheduled the payment terms in respect of 11,322,111 shares in FHN acquired from Capital Alliance Energy Nigeria Limited (as previously announced on 5 July 2013) such that the outstanding purchase price of US$22.3 million will now be payable in instalments between July and December 2015 (rather than in full in July 2015). However, according to the 19/6/2015 RNS, all operating companies and assets were to be reorganised under the new note issuer - Afren Finance PLC. Whether this reorganisation was ever completed or not I don't know. "19/6/2015 RNS http://www.investegate.co.uk/afren-plc--afr-/rns/proposed-debt-restructuring-and-refinancing/201506191826337539Q/ · Prior to the implementation of the Scheme, the Group will undertake an internal reorganisation and the Notes Issuer will become an intermediate holding company of the Group. The Notes Issuer (together with an affiliate of the Notes Issuer) will subsequently hold all of the Company's investments in its operating subsidiaries and will also acquire all (or substantially all) of the Company's assets (the "Security Reorganisation"). The Company has also agreed to grant security over its interests in the Notes Issuer's shares in favour of the New Senior Notes Trustee (for the benefit of, among others, the holders of the New Senior Notes). " ----
************************** Drop an email to above address, and you will automatically added to the list, and receive all its communications. The Legal Action Group is being led by ldlv. I am a member of group like many other ordinary shareholders.
I got reprimand from LSE admin for posting defamatory post, and I wonder who could have reported me. Can one of your responsible for this please raise your hand so that I know who has got real issue?
whoever thought a FTSE 250 company would be worse than an AIM company.
What list and where if you don't mind me asking?
ditto.....this whole thing has been a bl00dy disgrace. Shafted by crooked nigerian gangsters wholl just do the same again somewhere else. Cancers too good for them
And lose all ur money here like me - won't be investing in a single share ever again - all a complete con - I doubt that Deous fella ever had 100k invested here - all complete rubbish!
ramper bingo?
who is funding the Bare Boat Charter and Operational and Maintenance for the Installations leased to Okoro and Ebok Oil Fields? Payees being Bumi Armada and Mercator? Interesting question for the Administrators, they have statuary duties and they need to work with ALL stakeholders. Afrenlegalaction Yahoo Com
U r joking, right?
I think most of regular posters on this board can vouch for my public apology for reposting ww post. But it seems you live in your own world, and derive pleasure in conflicts. I genuine feel sorry of shareholder,s for first they found special BODs and then representatives like you. Even the company of gentle soul like TW couldn't change or rein you enough. Your post should ashame any shareholders if there views are represented through such a person.
Second agreement with Oriental Energy – August 2013 On 23 August 2013, Afren Resources Limited (“ARL”) and Oriental entered into an agreement (the “Amendment Agreement”) to amend the Ebok Joint Operating Agreement (the “JOA”). The material terms of this Amendment Agreement were that ARL agreed to pay Oriental $300 million lol the ebok loan was for $300m they could have used the money to pay off the Ebok loan. and we wouldn't have been in this mess. wouldn't have needed to default on the Ebok repayments. uhhhhrrhhhahahaha no more african companies for me. I have had enough of african companies. no more.
legal action group. plenty to go on with this. original BoD really screwed the company up. I thought the company would have recovered from this set back. but contrarian investing really went out of the window on this one. http://www.afren.com/download.axd?id=1911
This donkey is set to blow your lights clean out!
never going to invest in an african company again. people were so anti bondholder. nobody stopped to think it was these local partners that screwed afren up as well. and the original BoD agreed to rack up so much debt like some kind of crack addicts.
racked up so much debt just to help thee local indigenous partners. and what did they do in return?. bugger all. If i was running Afren I would be like, "f**k you we don't need any partners and we certainly aren't going to rack up debt just to support you because your too lazy to work for it."
Oriental is partner for Ebok Amni is parnter for Okoro FHN is the subsidiary where they have 45% of OML 26 NPDC is the other local partner. I don't understand why they bother with the local partnerships. its not like they contribute any money towards it. They just used Afren to develop the assets. now they can have it to themselves without having to do anything to earn it.
And so to bed.