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• Ebok Deep coverage in Nigeria - Pall Mall East, London Middlesex England

  Published: 30th June 2010

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• Afren Discovers Oil in OML 67 - Pall Mall East, London Middlesex England

  Published: 29th June 2010

  http://allafrica.com/stories/201006290706.html Lagos — Afren's Ebok Deep exploration well, offshore Nigeria on OML 67, has encountered oil shows in good quality sands according to the company. The well, the company said was drilled to a total depth of 11,375 ft and results of drilling and wireline logs have shown that the well intersected two sandstone intervals of 370 ft combined gross thickness in the targeted Biafra and Isongo formations. Afren said that the oil shows provided good indications of oil migration pointing to potential for oil trapped, up-dip from the current well location. The well has demonstrated a working hydrocarbon system in the deeper Biafra and Isongo formations, and excellent quality reservoir sands are pr

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• Barclays Capitol "Afren is our top pick" Pall Mall East, London Middlesex England

  Published: 28th June 2010

  In this report we initiate on 10 stocks. For each company our analysis is based on two key  components: 1) best risked value: an NAV valuation approach, which includes both core  assets (producing and under development) and risked exploration and appraisal (E&A)  upside; 2) we have then analysed the business model of each company and ranked the  group based on what, in our view, are the key sector drivers that make a business model  successful. By combining our NAV valuation and business model analysis, we have assigned  our relative 1-OW, 2-EW and 3-UW stock recommendations.  Based on this analysis we have selected Afren as our top pick. In our view, the company  currently offers the best

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• Afren Goes Deep at Ebok with Success Pall Mall East, London Middlesex England

  Published: 26th June 2010

    Ebok Deep a success for Afren Afren’s Ebok Deep exploration well, offshore Nigeria on OML 67, has encountered oil shows in good quality sands according to the company. The well was drilled to a total depth of 11,375 ft and results of drilling and wireline logs have shown that the well intersected two sandstone intervals of 370 ft combined gross thickness in the targeted Biafra and Isongo formations.   Afren said that the oil shows provided good indications of oil migration pointing to potential for oil trapped up-dip from the current well location. The well has demonstrated a working hydrocarbon system in the deeper Biafra and Isongo formations, and excellent quality reservoir sands are present. The well has been tem

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• Energy Stocks to Buy for 2nd half 2010 Pall Mall East, London Middlesex England

  Published: 25th June 2010

  If the global economy is indeed recovering (and granted, that's a very big IF) - energy stocks *should* continue to take off and lead the way.  But the tough thing about finding energy good energy stocks to buy is the same problem as finding oil and energy in the first place - it's tough!Energy demand, until the recession hit, was steadily climbing each year - while supply was flat to declining. So where should you look to play this trend, if and when it resumes?Our "energy guru" Marin Katusa says you should look to an uncovered, untapped area of the world...read on as Marin explains... The Secret to Finding Winning Energy Stocks As the world hesitantly emerges from recession, the one question that seems to be on the lips of inve

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• Congo Declines To Approve Key Tullow Oil Licenses Pall Mall East, London Middlesex England

  Published: 24th June 2010

  Congo's government has declined to ratify U.K.-listed Tullow Oil PLC's (TLW.LN) licenses for two key oil exploration blocks, instead awarding them to companies owned by a relative of South African President Jacob Zuma. The presidential decree from Kinshasa confirmed long-stalled licenses for some U.K. and African oil companies, but replaced Tullow and its partners with Caprikat Ltd. and Foxwhelp Ltd., owned by the South African businessman Khulubuse Zuma. The decree, supplied to Dow Jones Newswires by non-governmental Web site www.leganet.cd and signed Friday by President Joseph Kabila, show blocks 1 and 2 of the Albertine Graben were awarded to an alliance between Caprikat and Foxwhelp. Attempts to reach Kabila's office for comment w

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• Tullow Stands By Claim As Congo Gives Blocks To Others Pall Mall East, London Middlesex England

  Published: 24th June 2010

  Tullow Oil PLC (TLW.LN) said Thursday that it had no doubt about the validity of its claim on two oil blocks in Congo and was reviewing its options after the blocks were awarded to unknown companies. A decree, supplied to Dow Jones Newswires by non-governmental website www.leganet.cd and signed Friday by President Joseph Kabila, shows blocks 1 and 2 of the Albertine Graben were awarded to a partnership between Caprikat Ltd. and Foxwhelp Ltd. Tullow, along with partners Heritage Oil Plc (HOIL.LN) and Cohydro, had been awarded the licences by the Congolese government in 2006 but they were still awaiting ratification by President Kabila. A Tullow spokesman said: "We are reviewing our options but have no doubt about the legal validity of ou

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• Arbuthnot Securities Pall Mall East, London Middlesex England

  Published: 22nd June 2010

  AFR.L / 91.95p / £818.5m / TP: 135p Strong Buy Afren announced yesterday that it had acquired the Canadian company Black Marlin which has significant assets in east Africa. Black Marlin shareholders will receive 0.3647 Afren shares (76.8m on aggregate) for each Black Marlin share. The transaction value is C$0.51 per share, a 35% premium to the company's share price on 1st June 2010. The deal is subject to shareholder approval and is expected to close in September. Black Marlin has 12 exploration blocks located in Kenya, Ethiopia, Seychelles and Madagascar. The acreage is located in basins with proven petroleum systems and the company has already identified a number of leads and prospects which are being worked up as potential dri

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• J.P.Morgan Pall Mall East, London Middlesex England

  Published: 22nd June 2010

  Afren PLC, Proposed Acquisition of Black Marlin Energy On June 2nd, Afren announced the proposed acquisition of Black Marlin Energy, an Exploration company focused purely on East Africa, with 1.3bn boe net prospective resources spread across 12 exploration blocks and 4 countries. Kenya, Ethiopia, Seychelles, and madagaska. The proposed acquisition is all paper, with 0.3647 Afren shares per every Black Marlin Share. At Afren share price of 90p (on the day of announcement), the transaction implies a consideration of C$106.5m for Black Marlin Energy. Afren will issue 76.8m new shares 9.7% of issued shares and around 9 days of natural trade in the name. Adds high impact potential to our thesis. We had previously flagged East Africa as a prom

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• Afren PLC, Kinnaird House, 1 Pall Mall East, London SW1Y 5AU Pall Mall East, London Middlesex England

  Published: 20th June 2010

  Welcome to the Home of Virtual Afren, please note this blog is run for investors and shareholders to keep up to date with information about the company, its exploration, developments and production. This Blog is not owned or endorsed by Afren in anyway shape or form and any information posted should not be relied upon when making investment desicions on this or any other stock. Please be polite to all users and post informative information and conversation. Happy Blogging

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