josmith70
21 Jul 2015
Junior oil exploration stocks that can be major risers for investors These are the companies that are drilling high-impact wells that can produce thousands of barrels a day – and their success can make shareholders a lot wealthier. As I wrote in my previous article, all these exploration plays are international – and the big winners often come from orphaned stocks that get financed at a very low valuation. [link]
ifymoney
21 Jul 2015
4.37 BID PRICE why is Afren showing 4.37 as bid price?Is something up?I thought this was a dead dog???
3Dimensional
20 Jul 2015
Are IG Index cheats? [link]
jimonegbr
20 Jul 2015
Malc's Blog Excerpt for Malc's BlogI find it quite interesting that with the Exception of The Times there has been little coverage of the farce that Afren has become in recent days. With the equity and the bonds suspended and last week’s warning on production one must assume the company is past resuscitation and will soon slip away, but surely someone should mount some sort of investigation? The work that Afren Legal Action is doing is very laudable but even they cant do it single handed, something really awful smells here…Amen to That!!!
ldlv
18 Jul 2015
From Wild Wolf, he is back!!! Afren PLC – An artificially devalued companyAfren PLC shares have finally been suspended at 1.79p in July 2015.If the London Stock Exchange had been performing its duties properly for any degree of investor care, then this share would have been suspended six months ago, it is sad that so many shareholders have been allowed to be defrauded in the interim. If Afren PLC had been honest to the exchange 10 months ago, then the share price should have been correctly suspended at that point.This 1.79p may be the suspended share price but all shareholders know, it is not its real value price level.At this level, it is a fraudulently concocted, artificially manipulated and falsely impaired price.What is happening and has been allowed to happen cannot be allowed to pass for normal share conduct.Using Octobers oil dip as the opportunity to start the heist from, the SP has been deliberately pushed down by a crooked executive in order to ineptly pass and manipulate a premediated, corruptly motivated, flawed future strategy for the company which if allowed - will provide no benefit or vision and would in fact doom the business and its value for shareholders for decades if not eternity in a sea of poisonous debt, had the BoD et al, been actually able to bully shareholders into submission if their obvious contempt for investors had been justified.Afren BoD have done deliberately for the financial gain of a few greedy people, what Ratner’s did by carelessness 20 years ago. Destroyed the business they were meant to be protecting.The unfairness of this is historic, but the stupidity and pointlessness of the BoD plans was ridiculous. It was and is a scam designed to defraud the current shareholder base.They thought they could demoralise and undermine naïve investors into capitulating.They were wrong. They chose the wrong share and the wrong shareholders to let them walk off in the sunset with their stolen assets.Afren shareholders have assembled and collectively and repeatedly said No.What part of No, fight us for it and we are going to pursue the assets and them and all connections in between, do they not get.We will become louder and no one is walking off with this share or assets to the disproportionate diluted detriment of the current shareholders.Few companies had a greater PI base to raise money from at any price level but they did not want a rights issue because it was never about money. For many months more Afren shares traded than any other FTSE company and it is disproportionately a smaller private investor based shareholding.That is why it was attacked so viciously.To the conspirators behind this crime, it was only about transferring ownership and to achieve that the easiest route was to deflate the shareprice first before inflating the company again after it was transferred as they had planned.Had they and the bondholders involved and all the conspirators not had been so greedy they may have got away with it, but they pushed greed to the extreme. Shareholders said No.It must have been a big payoff or a murky secret to make any director want to risk so much and break so many laws to be part of this and it is sad for Afren PLC that they were chosen for this crime.The fact that the large ii and finance houses chose the company which can hurt the least able to defend itself and most willing to trust its executive makes the betrayal of Afren by its BoD so low and vile a crime.Other easons as to why Afren was chosen for attack will come to light in due course during the inevitable investigation which now must follow regardless of anything or any outcome.Even with its problems, this director attempted self-immolation, external parasitic infestation from the same old faces (organisations who have profited most from the financial calamities of recent years) and the change in oil prices, the sp of Afren still should be 10x the current suspended price if value
kamran9558
16 Jul 2015
Can someone please guide me how to vote using TD online
ldlv
16 Jul 2015
The Times Gideon Spanier Published at 12
1AM, July 16 2015 About 130 small shareholders in Afren have written to the City regulator demanding an investigation into whether the troubled oil producer was involved in “the withholding of material information”. The shareholders have also asked the Financial Conduct Authority to investigate whether Afren operated in “potential collusion with certain bondholders”. Afren Legal Action, the group of small shareholders, wrote to Martin Wheatley, the chief executive of the FCA, last week to demand a “full and prompt regulatory investigation” into Afren’s conduct. Details of the letter emerged after Afren’s shares were suspended yesterday, with the oil producer admitting that its production would be “materially lower” than expected and that there was “significant uncertainty” over the debt-laden company’s future. The stock market value of Afren, which has interests in Africa and the Middle East, has crashed by almost 99 per cent from £2 billion to £20 million in the space of a year. Bondholders are poised to take control of up to 90 per cent of the company in a debt-for-equity swap at a general meeting on July 24. Afren Legal Action said in its letter, sent on July 7: “We are extremely concerned that this is an engineered situation to wipe out shareholder value.” The letter went on to say that the “shares should have been suspended” when the plans for the debt-for-equity swap were announced on June 19 because there was the risk of “a false market”. The shares have slumped from 150p a year ago to 1.79p, having hit a low of 1.28p on June 22. Afren Legal Action said yesterday that its concerns about the company’s actions had increased in the wake of Afren’s admission that production would be much lower than expected. Afren’s board asked the stock market authorities to suspend its shares at 7.30am, before making the announcement. Less than a fortnight ago, Afren and Morgan Stanley, its banking adviser, said that there had been “no significant change in the financial or trading position of the group since March 31”. Afren declined to comment on Afren Legal Action’s claims. However, a source close to the company pointed out that it had published any material information as soon as possible, had replaced the board since last year’s payments scandal and regarded a deal with the bondholders as the best hope for the company to survive. The FCA declined to comment on whether it had initiated an investigation.
ldlv
16 Jul 2015
Re: Legal action update The Legal Action Team, is in The Times.[link]
griller
15 Jul 2015
Re: Legal action update Hi Idiv - I think we used to correspond on the MXP site before that dog was taken out to be shot. Not invested here or anywhere else at present but was wondering whether your legal advisers had been asked to consider the role of the financial PR firms that stand shadily in the wings of these AIM companies shovelling out carefully nuanced misinfromation and most probably sponsoring or employing the professional posters to pied pipe the rats onto or off the rotten hulks of which MXP was a classic example. Seems to me that if the evidence could be obtained on how they work it wouldn't be too different to the sort of scams that have spun out of the city recently like PPI or Libor. Are the b'tards regulated in any way? Anyway goodluck but I doubt there'll be any successful individual actions until there is some public exposure of how much money is being lost by ordinary investors to the industrial professionals. But we're not living at a time when anyone is looking to protect Davids against Goliaths as the Greek crisis proves.
Innocent2009
15 Jul 2015
Re: : Opening Share Price opening price will be 0.5p I think or perhaps we may never open when it enters administration
Damp Seaweed
15 Jul 2015
Re: SUSPENSION As we have no Chapter 11, then I am tending to assume that a file for bankruptcy and maybe a 'pre pack' is the next stage.At least the shareholders will not be tempted to put more money ....Cold comfort perhaps
R1ddler
15 Jul 2015
Re: From Proactive investors Sorry wrong board should be IGAS
R1ddler
15 Jul 2015
From Proactive investors For info of all investors. Please see the attached statement from UK Goverment task force.15:47 15 Jul 2015Fracking can be 'safe' in the UK, says govt taskforceAn independent task force, commissioned by the government, has concludedthat fracking can be carried out safely in the United Kingdom."Our conclusion from all the evidence we've seen is clear," said Lord ChrisSmith, who chaired the task force."Only if the drilling is done properly and to the highest standard, and withrigorous regulation and monitoring, can shale gas fracking be done safely forlocal communities and the environment."This apparent endorsement provides scant consolation to shale gas firms stillreeling from contentious planning decisions in Lancashire last month.Lancashire County Council declined applications for two separate frackingprojects near Blackpool, even though its own senior planning officialrecommended one project for approval.Today's report from the Task Force on Shale Gas concluded that there werefour 'essential ingredients' for safe fracking; the full disclosure of chemicalsused in the process, baseline monitoring, strong well integrity, and 'greencompletions'.Crucially, Lord Smith concluded: "The evidence shows that many of theconcerns associated with fracking are the result of poor practice elsewhere inthe world, such as poorly constructed wells.""It is therefore crucial that stringent regulations are established in the UK, asset out in our recommendations, in order to meet these legitimate concerns."UKOOG, the industry group for the onshore UK oil and gas industry, welcomedthe report's findings."The tone of the report is geared towards creating a better understanding ofhazard and risk which I think will be invaluable for those coming to this subjectfor the first time," said Ken Cronin, UKOOG's chief executive."I was particularly pleased to note that the Task Force is satisfied that the risklevels associated with public health hazards are acceptable provided that
