Search results for: Afren

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  • 15 July 2010
    Business & Finance

    Afren plc (“Afren”) announces that terms have been agreed to acquire Energy Equity Resources Oil and Gas’s (“EER”) residual license interest in OML 115, offshore south east Nigeria. Transaction Highlights * Located offshore south east Nigeria, adjacent and on trend with Afren and Oriental’s Ebok and Okwok fields * Afren’s net license interest in OML […]

  • 8 October 2010
    Business & Finance

    Afren plc  announces that the Scheme of Arrangement relating to the Acquisition of Black Marlin Energy Holdings Limited  by Afren plc received BVI court approval on 6th October 2010 and that the Acquisition completed on the 7 October 2010. Pursuant to the Acquisition, 76,776,096 ordinary shares in the capital of the Company have been issued, […]

  • 31 July 2015
    Business & Finance

    Afren, an international independent oil exploration and production company, has filed for administration after failing to get support for its refinancing efforts.  According to Afren, the recently completed operational review has led the company to expect materially lower near-term production from its assets as compared to the production level assumed in the restructuring plan announced on […]

  • 15 June 2015
    Business & Finance

    Afren Plc, a London-based independent oil and gas company, has announced that Darra Comyn has given notice of his resignation as Group Finance Director of the company, and that David Thomas has been appointed to the position of Chief Operating Officer (COO) with effect from June 8, 2015. The company said that following Comyn’s resignation, he […]

  • 21 January 2015

    Afren plc, an independent oil company with assets in Africa and the Middle East, has confirmed it has been reviewing its capital structure, liquidity and funding requirements, with its advisors . As part of that process Afren has said it is in discussions with its lenders regarding amendments to its existing facilities, in addition to seeking a […]

  • 25 October 2018

    Former executives of now-defunct oil company Afren were found guilty of fraud and money laundering offenses from which they personally received more than $17m and laundered $45m

  • 28 March 2011
    Business & Finance

    Afren plc (“Afren or “the Company”) announces the appointment of Dr Niall McCormack as Exploration Director and other senior additions to the technical management team. Appointment of Exploration Director Afren announces the appointment of Dr Niall McCormack as Exploration Director, who assumes responsibility for Afren’s exploration strategy and work programme. Prior to joining Afren Dr […]

  • 22 December 2014

    After share price of Afren PLC, an Africa-focused oil and gas exploration company, rose around 16 per cent today, the company has issued a statement explaining the jump. According to Afren, the company has received a “highly preliminary” approach from Nigerian oil and gas company Seplat Petroleum Development Company plc regarding a possible combination with Afren. However, Afren has […]

  • 25 June 2015

    Afren Plc, a London-listed oil and gas player with assets in Africa, has announced that several of its directors will stand down. The company has informed that Egbert Imomoh, Chairman of the Board of Directors, and each of the non-executive directors, being Toby Hayward, Patrick Obath, Sheree Bryant and Iain McLaren have notified the Company […]

  • 13 February 2015

    Afren plc, an oil and gas company which has been reviewing the funding and liquidity requirements of the business, has today said that it has terminated the talks with Nigeria’s Seplat over a possible takeover. To remind, the company in December last year said it had received a highly preliminary approach from SEPLAT Petroleum Development Company plc […]

  • 1 May 2015

    Afren, an independent oil and gas company with assets in Nigeria and Kurdistan, has confirmed the appointment of Alan Linn, former CEO of Australia’s Roc Oil, as the new Chief Executive Officer and executive director of Afren with immediate effect.  The cash strapped firm yesterday said it secured $255 million of net total funding from its bondholders as […]

  • 27 January 2015

    Afren plc, a struggling oil company focused on Africa and Middle East, has today said that in light of the “significant dislocation” in the industry and related financing markets resulting from the rapid decline in oil prices, it has been reviewing the funding and liquidity requirements of the business and seeking to address how it manages the overall leverage […]

  • 17 January 2012
    Business & Finance

    Afren plc announces that the Okoro East exploration well, offshore south east Nigeria, has made a new oil discovery having encountered 549 ft true vertical thickness (TVT) of net oil pay and 41 ft of net gas pay in excellent quality reservoir sands. The well result represents a successful start to Afren’s 2012 exploration campaign […]

  • 9 June 2017

    The Minister of Petroleum Resources of Nigeria has granted Lekoil consent to complete the transfer of the original 17.14 percent participating interest in OPL 310, to its subsidiary Mayfair Assets and Trust Limited. To remind, Mayfair farmed into Afren Oil & Gas’ interest in OPL 310, which contains the Ogo discovery, for a 17.14 percent […]

  • 14 May 2012
    Business & Finance

    Afren plc announces that the Ebok North Fault Block exploration well, offshore south east Nigeria, has encountered 370 ft true vertical thickness (TVT) of net oil pay in excellent quality reservoir sands. The Ebok North Fault Block (“Ebok NFB”) exploration well was spudded on 12 April 2012 by Afren and Oriental Energy Resources (“Oriental”), and […]

  • 14 October 2014
    Business & Finance

    Oil and gas exploration company Afren has terminated contracts with its Chief Executive Officer Osman Shahenshah and its Chief Operating Officer Shahid Ullah for gross misconduct.

  • 7 April 2015

    Afren plc, a London-listed independent oil and gas company with assets in Africa, will soon name a new CEO. The announcement caused the company’s shares to jump seven percent today. In a London Stock Exchange filing today, the company confirmed media reports that Roc Oil’s Alan Linn is proposed to be appointed as the new CEO of […]

  • 1 December 2015
    Business & Finance, Project & Tenders

    Oil and gas company Lekoil has agreed to buy Afren’s stake in a licence offshore Nigeria. According to the agreement, Lekoil will buy Afren’s 22.86% stake in the OPL 310 block, which contains the Ogo discovery. Lekoil will pay $13 million for the transaction. Since Lekoil already owns a share in the block, the transaction, […]

  • 28 May 2013

    Aconex, provider of online project collaboration solutions for the oil and gas industry, today announced its engagement by Afren plc, a leading independent oil and gas exploration and production company. Afren uses the Aconex Online Collaboration Platform to manage the operation and maintenance of its Ebok and Okoro Setu oil field platforms off the coast […]

  • 8 January 2015
    Business & Finance

    Nigerian oil and gas company Seplat Petroleum Development Company Plc, or Seplat, has confirmed it has been in talks with Afren over a possible merger agreement. Afren plc, an independent oil and gas exploration and production company operating in Africa and the Middle East, following a sharp spike in share price on December 22, released a […]

  • 30 January 2015

    Afren, the troubled, London-listed, independent oil and gas company, has again postponed a deadline for Nigerian Seplat Petroleum to make an offer for the company. Seplat had until 5 p.m. today to ‘take it or leave it’, under the previously announced deadline extension, but Afren is now saying that the new deadline has been set. […]

  • 24 March 2011
    Business & Finance

    Afren today announces that it has acquired a 74 per cent. operated working interest in the Tanga Block, located offshore Tanzania, from Petrodel who will retain a 26 per cent. interest in the block. In consideration for the acquisition of the interest, Afren has agreed to reimburse Petrodel a percentage of the back costs in […]