: AFREN - afrikanischer Öl- und Gasproduzent
Diese Firma sollte man sich etwas genauer ansehen: "AFREN - Pan African oil and gas exploration and production company" Ich beobachte nun schon ein viertel Jahr und bereue, nicht schon früher eingestiegen zu sein. AFREN wurde 2004 gegründet; man hat ein erstklassiges Management, gute Kontakte zur OPEC und sehr vielversprechende Projekte auf dem schwarzen Kontinent. Seht euch mal die Homepage an: http://www.afren.com/
Afren begins Nigeria production, sees first profits Tue Jun 10, 2008
LONDON, June 10 (Reuters) - Loss making Africa-focused oil and gas explorer Afren Plc (AFRE.L: Quote, Profile, Research) announced on Tuesday it will begin production on its Nigerian Okoro Setu Project, setting it on a path to profitability this year.
Afren said Okoro Setu will produce a peak of 15,000 barrels of oil per day (bopd) by the third quarter, which together with an acquisition in Cote D'Ivoire will give it total oil production of 21,000 bopd by year-end.
"What's important for us is that this establishes us as a credible operator," Galib Virani, Afren's Vice President of investor relations told Reuters, adding that Afren's move to the FTSE's main list is on track for the fourth quarter.
Afren shares, which were up 1.2 percent to 170 pence by 0950 GMT, have doubled since they began trading on London's junior AIM market in April 2006.
"This is good news for Afren. The company had targeted first oil in the second quarter and is basically on time," said Ambrian analyst Dougie Youngson.
"There is still some development work required at the field to bring it up to full production, but we do not anticipate that the company will have any issues in achieving this."
In December, Chief Executive Officer Osman Shahenshah said Afren should see revenues of up to $300 million this year.
But with oil at record levels that number could rise. At an average of 17,500 bopd sold at $100 for the rest of the year, Afren should have revenues of $315 million in 2008.
The company should post net income of $127 million this year on sales of $418 million, Merrill Lynch said in an April note.
Afren made after-tax losses of $39 million in 2007, more than double the 16 million it lost a year before that. (Reporting by Hsu Chuang Khoo; editing by Rory Channing)
London, 2 July 2008 - Afren plc ("Afren" or the "Company") announces the addition of an international technical team from Randall & Dewey and new management appointments.
The Board of Afren Plc is pleased to announce the appointment of an experienced 12 person technical team of Geologists, Geophysicists, Reservoir Engineers and Petroleum Engineers. The team, led by Shahid Ullah, previously constituted Randall & Dewey*s international technical team and brings portfolio management and technical skills that will be highly complementary to Afren, in particular with a view to executing the pipeline of future development opportunities.
Recent achievements for the team in Africa include:
* Technical partner with Vaalco on the Etame Marine discovery in Gabon; * Discovered and developed the Abana Field on OML 114 in Nigeria; * Found over 1 TCF gas at Cross River on OML 114 in Nigeria; * Early technical work to define the Okoro field opportunity in Nigeria; * Developed the plan for a heavy oil field in Madagascar utilising steam injection, raised the necessary financing for the project and responsible for project execution; and * Produced an innovative development plan and economic model for Ivanhoe Energy for the Niger Agadem block.
The Board is pleased to announce that Shahid Ullah has been appointed as an Executive Director of Afren to head up the Company's technical operations. Mr Ullah's career includes senior management positions at Western Atlas and Baker Hughes, where he was responsible for managing petroleum equities and assets and in particular brings extensive technical and commercial knowledge of the African petroleum industry. Mr Ullah holds a degree in Petroleum Engineering from the University of Texas and received executive development training at Oxford University and the London Business School. He is a member of the Engineering Advisory Board at the University of Texas.
The Board of Afren has accepted the resignation of Evert Jan Sibinga Mulder as Chief Operating Officer. Mr Sibinga Mulder had previously indicated that he wanted to return to Holland after many years overseas. His input and industry experience were significant in terms of structuring the Company's technical team and work processes and also in relation to the recent First Oil achievement.
Osman Shahenshah, Chief Executive of Afren, commented: "I would like to thank Evert Jan for his contributions during the Company's early stages and also for the important First Oil milestone where he played a leading role. The Board wishes him every success in the future. The addition of Randall & Dewey's international technical team and appointment of Shahid Ullah as Executive Director strengthens the existing technical base, bringing enhanced capacity, in particular with a view to the near term development opportunities we see in the new venture pipeline."
11.06.08 Diese Firma sollte man sich etwas genauer ansehen: "AFREN - Pan African oil and gas exploration and production company" Ich beobachte nun schon ein viertel Jahr und bereue, nicht schon früher eingestiegen zu sein. AFREN wurde 2004 gegründet; man hat ein erstklassiges Management, gute Kontakte zur OPEC und sehr vielversprechende Projekte auf dem schwarzen Kontinent. Seht euch mal die Homepage an: http://www.afren.com/