HOWRAH
07 Jul 2015
what value ? If the company had any value we would have had buyers interested.Nothing but an empty shell and the bond holders are going to find they are going to lose a whole Lot more.As share holders write it off or cash in.Don't listen to waffle. Move on.
CenturionSid
06 Jul 2015
REGISTER Your Share Votes If you do not plan to vote in favour of the current offer we encourage you to register with ASOG so we can count the power of our support. The higher our numbers the more pressure we apply to BHs BEFORE the EGM.To register, email us at asogafrenregistration at outlook.com and enter your holding in the SUBJECT field then send. No message needed. You will receive a short questionnaire to complete your registration.Thank you.See us on YouTube [link]
Percy W
06 Jul 2015
Que Sera Sera The value of my holding has gone down 99%. If I were to sell, the proceeds would not even cover the dealer's fees. The only thing to do is hold on and hope.
CenturionSid
05 Jul 2015
ASOG Video Presentation Take a look at our video presentation on YouTube;"Our Journey and Where Are We Now"by Tony Harding of the ASOG committee.[link] post it wherever you like - we need to get the message out.
gubu
04 Jul 2015
hedging It does seem a little strange that the finance markets can lend over $1Bn to Afren without getting contractual commitments signed in blood to hedge a substantial part of their oil production for at least a year or more ahead.You would think that they would watch this like a hawk, as debt could only be serviced and repaid out of cashflows, which in this volatile sector are normally hedged well into the future. The lenders must have sat in on detailed presentations, Q&A sessions, had one on one access to senior management and had their own equity research desks analysing the debt offerings for weeksSo it is looks like they were almost criminally negligent, but guess what, the PIs are the first to get wiped out, the group with the least power, least access to information or abilityto influence mattersFor example Tullow had 60% of their 2015 production hedged at an average floor price of $86 a barrel with further hedges in place for 2016-17, all valued at $500m on a mark to market basis in Dec 2014. With about half of Tullow’s production all I can see for Afren is that they had hedged 35% of their 2014 production and sold all outstanding 2015 hedges for a cash benefit of $80m in Dec 2014.Strangely Afren had a premium listing on the LSE, it obviously meant absolutely nothing!So good luck in your crusade, I notice that QPP (an Aim stock) seem to have incurred the wrath of the powers-that-be recently and now have some kind of investigation going on, so you never know.time to forget all this great football on tv tonight
ldlv
01 Jul 2015
Wild wolf open letter to the General and Wife Dear Sir/ MadamWe are respectfully writing to you regarding a matter of mutual interest and mutual benefit.We represent hundreds of disgruntled small private investors in Afren PLC.It is our genuine belief that we just are the tip of the iceberg and there are tens of thousands of other affected investors who are of the same belief that shareholders are being cheated currently out of their investments and we want to make a stand against this.We also are contacting the required regulatory authorities to assist us in stopping these crimes from being completed.A continued and ever increasing media campaign will ensure that this will continue to be publicised until investigated and the truth of the mysterious behaviour of the Afren executive and their colluding friends to crash the share value of the company, will become public knowledge and any criminality will be made accountable. As you are no doubt aware, Afren suffered from previous over exposure to CAPEX investment, some irregular activities of the historic Boards of Directors and the temporary slump in oil prices.It is our opinion that these problems were exaggerated and a campaign of misinformation and manipulation and accounting falsifications have provided an excuse for a premeditated raid attempt by certain bondholders and financial institutions working in concert, to enable an attempt to steal the company using a host of dubious methods and puppet directors and to then sell the asset base on, cutting shareholders out of the equation and cheating them from the proceeds of their investments.Already this attack on the company (perhaps on behalf of a yet unnamed ultimate beneficiary) have resulted in the loss of 95% of the shareholder value of the company already and further losses of another 90% with the threat of the company's demise.We intend to fight this theft of shareholder value and bring those responsible to account.Just because they chose a company with a massive small investor base (mainly pensioners and average working class people) who they felt would be easiest to defraud, does not mean we have to accept their theft. We wont and we intend to fight to get a better offer for existing shareholders regardless of their threats.We have sufficient and an ever growing amount of evidence of a catalogue of crimes and breaches of duty and multiple examples of share price and information manipulation compiled so as to deceive shareholders.It is our intention to resiliently use specific regulators and judiciaries to attempt to stop this theft, rescue the company from being deliberately destroyed and undermined and then to patiently pursue those responsible and to then gain full recourse and to ensure that this kind of corrupt behaviour is removed from public company's which seek shareholder investment.What started as an investment, has become a personal battle of principle for many. There is an anger stirring that will not dissipate or respond to threats or corruption.Our major obstacle is that we suspect that those behind this theft of shareholder value infiltrated the executive of the company with a new generation of Directors who are not loyal to its shareholders and who are using the most underhand tactics ever experienced since the U.S. Bear Sterns scandal.The current executives of the company are basically attempting to blackmail and threaten existing shareholders into agreeing to their corrupt recapitalisation plan.We feel this recapitalisation is not only based on falsely presented misinformation, it is also a terrible strategy for the company as it simply leaves a once wonderful and promising company in one of the worlds most exciting new economy regions, with an unnecessary legacy of debt and being beholden to the kind of organisation who would not hesitate in repeating this theft continually until there is no shareholder value left whatsoever.In order to succeed in attracting the required investo
CenturionSid
01 Jul 2015
Re: Afren Letter If you do not wish to vote YES, do not send the letter back.It is a pro forma letter for you to send back to your broker essentially to vote for recapitalisation and dilution. To vote NO you still have to vote through your brokerAre you registered with ASOG? Our members get regular updates by email on exactly what to do for the EGM etc. It also helps us gauge the level of opposition to the deal.To register go to www.twitter.com/asogafren and you will see instructions.You will also find many links over on LSE.Many thanksASOG
SalopTractor
30 Jun 2015
this site just allows you to keep updated with all share chats on LSE and III
SalopTractor
30 Jun 2015
London South East
kamran9558
30 Jun 2015
Thanks SalopTractor.
Bluesuit88
30 Jun 2015
whats the LSE website?
SalopTractor
30 Jun 2015
kamran - he cannot see your message - you need to go to LSE website
kamran9558
30 Jun 2015
@sugardaddy70 do you mind telling me how can i vote through TD direct, thanks
Bluesuit88
30 Jun 2015
The court has granted the leave of Afren to convene the SCHEME MEETING. Vote NO and keep these Urchins from taking our company
