AFREN - afrikanischer Öl- und Gasproduzent

Annual General Meeting - Chairman's Statement

....I am pleased to report that the year 2010 and first half of 2011 has been a period of growth and delivery across all fronts for Afren.  During this time, we acquired interests in 16 new assets and made six new country entries, thus... Today, our portfolio comprises 29 assets across 11 countries and offers an attractive mix of both near, medium and long-term growth opportunities spanning the full cycle E&P value chain.

Afren reported a full year profit after tax of US$46 million in 2010.  The Company is in a strong position with net debt as at 31 March 2011 of US$291.6 million with cash at bank of US$333.1 million....

 http://www.investegate.co.uk/Article.aspx?id=201106061100018833H

Trading Statement and Operations Update


London, 20 July 2011 - Afren plc (“Afren” or the “Company”) issues the following trading statement and operations update in advance of the Company’s 2011 Half-yearly results which are scheduled for release on 30 August 2011.  Information contained within this release is un-audited and is subject to further review.

Highlights

Reservoir performance at Ebok and Okoro at upper end of expectations
Average full year daily production revised to 25,000 to 30,000 boepd due to non reservoir related facilities downtime; on track for 50,000 boepd 2011 exit rate
Strong financial position - first half revenue US$161 million; cash at bank US$320 million and net debt US$344 million
First half capital expenditure US$254 million, with forecast full year expenditure at US$450 million
Active exploration programme with nine wells planned targeting over 600 mmboe net to Afren
Continue to prioritise value accretive acquisitions

Osman Shahenshah, Chief Executive of Afren plc commented


“During the period, reservoir performance on the Ebok and Okoro fields has come in at the upper end of expectations.  While we have revised the 2011 average production guidance, due to non reservoir related facilities downtime and simultaneous operations, we are expecting a 2011 exit rate of 50,000 boepd.  Looking forward, we are targeting both organic and inorganic reserves growth, with up to nine exploration wells targeting over 600 million barrels net to Afren in H2 2011 and further value accretive acquisitions.”

To view the full Trading Statement and Operations Update please visit www.afren.com

For further information contact


Afren plc  
+44 20 7451 9700
Osman Shahenshah
Galib Virani

Pelham Bell Pottinger  
+44 20 7861 3894
James Henderson
Mark Antelme 

15.000 Barrel pro Tag  weniger sowie zahlreiche share fuer die Vorhaben in Kurdistan - das sind die Fakten. Sowie der Einknick um fast 8%. Zeit zum Einstig oder koennte das ein Fall in "offene Messer" werden bzw. lieber noch etwas warten? Was meinen andere AFRENianer?

Group Production Update


London, 3 January 2012 – Afren plc ("Afren" or the “Company”) announces exit 2011 Group Production ahead of year end guidance at circa 55,400 boepd.

Afren announces that production at the Ebok field, located offshore south east Nigeria, has been increased to a stabilised rate of circa 40,000 bopd, following the commissioning and ramp up of all production wells associated with the initial phases of the Ebok development.  As a result of the ramp up in production at the Ebok field, aggregate net working interest production attributable to the Company has reached a rate of circa 55,400 boepd.  A production rate above the year-end target of 50,000 boepd has been sustained since 19 December 2011 from the Ebok, Okoro and Côte d’Ivoire operations.

In addition, gross production on the Ogini and Isoko fields has nearly doubled to circa 10,500 bopd from circa 6,000 bopd, following increased compressor uptime and the opening of an additional two strings, since First Hydrocarbon Nigeria and its partner Nigerian Petroleum Development Company (“NPDC”) completed the acquisition of OML 26 on 1 December 2011.

Osman Shahenshah, Chief Executive of Afren, commented


“We are delighted that all production wells drilled as part of the initial phases of the Ebok field development have been commissioned, and to have increased production to 40,000 bopd, in line with expectations.  This marks one of the quickest independent developments of its scale in Nigeria to date.

“The Group is in a strong position with aggregate net working interest production of 55,400 boepd going into 2012, as we embark upon an extensive E&A drilling campaign in Ghana, Nigeria, the Joint Development Zone of Nigeria São Tomé and Príncipe, Tanzania, Kenya and the Kurdistan region of Iraq, that has the potential to materially transform and increase our discovered resource base.”

For further information contact


Afren plc  
+44 20 7451 9700
Osman Shahenshah
Galib Virani

Pelham Bell Pottinger  
+44 20 7337 1500
James Henderson
Mark Antelme