Member Info for jester16

Which one?

If the ad hoc chaps were shorting and obviously the no vote won is this why we have been suspended and put in admin because if we wasn't suspended the shareprice would of risen because of no dilution this what i don't understand. If dilution was priced in the true price of afren shares would of been 20p why not let that happen and do a placement. There is obviously a link to shorters losing out big style and this needs to be investigated also.

On the 5 of jan shareprice was 45p a billion shares would of given them £450 mill about $700 mill why wasn't this done? And don't anyone say hindsight is a wonderful thing afren as been allowed to collapse.

Its a sh it day alright but if the company was in such a mess why release derogatory rns's like the downgrade barda rash one, surely to god your would do a placement first they release the rns then move forward funded for a few years at least.

Could we give hunt oil a ring to really see whats going on or not in saying that they are american. Even if the cpr wouldn't be surprised if that was american company who did it is correct 200 mbol is not to be sniffed at , wven if we got $2 a barrel in ground that would be a start.

It will be american bh ad hoc chaps, corrupt as anything legal action required pronto. They got hold of this company last year and put their puppet stooge toby hayward in charge to destroy the company in shareholders eyes but really hiding the fact that these assets are money making machines we know they are. They are just making it out they are in dire straights we need external investigators british ones to see what really is going on. 30000/40000 producing company going into admin you cannot make it up. Sold hedge we could still be getting $95 per barrel for a 1/3 or 2/3 of our oil that is scandalous instead we sold it to pay for advisors who where they advising their american partners?

Why don't they just sell one of its assets and benefit from rest. What happened to madagascar?

The appointment is made with the consent of the Company's secured creditors and is seen by those secured creditors as an important step in preserving value in the Company's subsidiaries. No other company in the Afren Group has appointed administrators today or taken any other step to commence insolvency proceedings. The Group is in discussions with its partners and other key stakeholders with a view to continuing its operating businesses.

Afren plc: Interim Management Statement · US$200 million interim funding provided by existing Noteholders by way of new private placement notes in April 2015; proceeds to be used for general corporate purposes and capex; wider recapitalisation programme to be completed by the end of July 2015 · Nigeria projects progressing: Completion of top-side Ebok CFB extension; options for Okoro FFD with a low oil price under discussion; completion of first Okwok development well; fifth production well completed on OML 26 · 2015 capex guidance US$0.4 billion expected to focus on existing producing assets in Nigeria; average production guidance expected to be 23,000 - 32,000 bopd, reflecting lower share of production from Ebok following end of cost recovery · Q1 2015 net production at 36,035 bopd, above FY guidance range but in line with expectations; Q1 2015 Revenue of US$130 million; Operating cash flow before movements in working capital of US$59 million; Capex US$212 million; Net Debt US$1,196 million London, 29 May 2015 - Afren plc ("Afren" or the "Group"), (LSE: AFR), announces its Interim Management Statement ("IMS") and financial results for the three months ended 31 March 2015 and an update on its operations year-to-date 2015. Information contained within this release is unaudited and is subject to further review. Operational Update Afren delivered revenue of US$130.3 million (Q1 2014: US$269.0 million) and operating cash flows before movements in working capital of US$59.1 million (Q1 2014: US$169.1 million) in Q1 2015, driven by average net production at 36,035 bopd in line with expectations to meet our guidance range for 2015, averaging 23,000 - 32,000 bopd. The fall in revenue was due to lower realised oil prices and production liftings from Ebok utilised to settle a net profit interest (NPI) liability. NPI represents a contractual profit share payable to previous owners of the Ebok field for which liftings made in settlement are offset against cost of sales (NPI liftings commenced in Q4 2014).

I wasn't meaning the admin were the asset strippers. I was thinking more the advisors alvarez and marshal have they been working to lead to this stitution as to benefit who they are really working for...

At Okoro, gross production at the field was circa 15,073 bopd in the period, incorporating planned downtime. The Partners are currently in discussions on how to manage the Okoro Further Field Development Plan in line with the current low oil price environment with a view to re-engineering the forward work programme. At Okwok, Afren and its JV Partners Oriental and Addax Petroleum, have completed and flow tested a first development well, which was completed in April 2015 from the Okwok jacket having been drilled to a total measured depth of 9,202 ft and flow tested successfully at a maximum rate of 5,400 bopd (24.5 deg API oil). At OML 26, following the receipt of Field Development Plan (FDP) approval by the Nigerian regulatory authorities in H1 2014, the Partners successfully drilled two producers in H2 2014. A third producer was spudded in December 2014 and completed in February 2015, a fourth producer was completed in March 2015 and a fifth producer has just been completed in May 2015. All five new wells have been drilled with the same rig and from the same location cluster. Two of the wells tested at over 2,000 bopd and a third around 1,000 bopd during post completion well tests without any gaslift. The new wells will undergo the statutory well tests and gaslifted to realise their full production potential in the coming months. Submission of the OML 26 FDP to the Nigerian authorities for Isoko is expected in Q2 2015 wouldn't this of helped with lower production...

Are these subsidiaries owned by shareholders. Like fhn or is this the way asset strippers work before the admin is called in to syphon off the best assets....

Are shorting oil and many other banks are doing the same. Financial system is fecked up. British gas, before gas comes through to your boiler that said gas is bought and sold 11/12 times over, whats that all about on sky news the other day. Every ounce of gold as a 100 maybe more paper contracts to each ounce what would happen if they all came calling at the same time i want my physical gold? Bent ponzi schemes can't wait till they pay the consequences cannot equantitive ease for ever.....

This is oil always needed. Hmv music and games not everyone buys sorry to say...

Any thoughts to protect is investment. I'm not being funny but couldn't afren defered payments until improved oil price why oh why did they sell there hedge. Was it part of the plan.

As shareholders are we not owners of these because they must of used money from our assets.

I wonder if their still on books if not at least the administrators are slightly cheaper.

Is that why they have put it into admin to save the shorters the same chaps who probably own the bonds. Thats way because there would of been no dilution becausecthe wasn't getting any shares to close there shorts.

Corporate theft thats all i can say and i hope people involved do time, nothing as been done to resolve this could of done a placement easily, why wasn't it why couldn't they do a call now 1/2bill shares at 10/20p whats stopping them I'm sure shareholders would jump at the chance if it meant saving afren.

Alan linn well done remember his name....came in and done absolutely nothing.