baroo123
07 Oct 2015
Spoken to Join Administration Hi GuysToday I spoke to Join Administration about the meeting on Friday and about my shares and is there any chance I will get any money back but sad to say Administrators said very likely and I have loss 60k , which I invested in this company Very sad Day for me as that was my kids future money.I would be grateful if anyone can help me recover some money.. Plz email me at. paveer_khanatcomHere are contact details for this crooks and scam who robbed me..If you have any queries in relation to the meeting, the documentation required, or the Administration generally, please contact the Administrators' Afren Plc helpline on +44 (0) 161 838 4536.
ldlv
07 Oct 2015
ALAG and Afren Creditors meeting Afren creditors ALAG meeting Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster, London, SWIP 3EE 9 October 2015 at 10.00amAfrenlegalaction at yahoo com
ldlv
06 Oct 2015
Afren Shareholders meeting Queen Elizabeth Il Conference Centre, Broad Sanctuary, Westminster, London, SWIP 3EEon 9 October 2015 at 11.00am
ldlv
30 Sep 2015
ALAG member to Alixpartners today This is an e-mail from one ALAG member to Alixparners today that is worth to share:"I would be interested in attending any relevant update meetings, please keep me informed as appropriate. I also note the six week administrators summary report and was pretty shocked with the overhead structure associated with this case and in particular salaries and costs per hour charged, let alone hours charged for tasks that were clearly part of original functional roles within the organisation that Directors were being paid large salaries to supposedly perform, alla Linn. There is no need for you to respond to me on my total dismay on your report content. I get the material greed, power drive and selfishness that motivates and structures people's behaviour to the detriment of many 1000s of ordinary people's savings, pensions, children's inheritance etc..."
ldlv
30 Sep 2015
OPL 310 OGO, Afren [link] said the exploration well and sidetrack subsequent to the farm-in made Ogo, as described by a leading oil and gas research consultancy, one of the most significant exploration finds in Africa in recent times.
ldlv
30 Sep 2015
Important: Alixpartners and SHs In view of the level of interest, the Administrators are, however, considering calling a meeting to provide further information to shareholders. If this would be of interest to you please confirm your intention to attend by email to [email protected] by no later than Friday 2 October 2015.Its is important that the meeting will be organized before the 9th of October 2015 Please request it
ldlv
26 Sep 2015
Alixp/Blackstone Despite the huge fees Alixp is charging to the Company, Alixp based their devastating conclusions on the "Company previous unsuccessful attempts to re-structure"!Did they(Alixpartners) actually attempt to do anything? Maybe they could explain what did they actually do a part or writing the report.Again the report is in line with our huge reservations, What a surprise!As they stated clearly several times, it was the management and overheads that were the real issues in the company, but at the same time they fully trust the useless efforts made by the previous management to re-finance!? what!? Does it make sense?Did they explore the offers that were ignored by the previous management?Alixp are still banging on about the debt needing paying in full to save the company? We are watching and we are many and soon questions will be asked at a very high level.
ldlv
23 Sep 2015
Conflict of interst [link] Stakeholders criticise Blackstone’s involvement in Afren administrationConcerns over a potential conflict of interest in the process for winding up Afren, the oil exploration company, have further irked shareholders, creditors and employees of the firm, still reeling from its sudden collapse at the end of July.Olivier Holmey21 Sep 2015The London-listed company with oil fields in Nigeria went into administration on July 31, just three months after a long drawn out restructuring process was supposed to have put the company on a sustainable footing.Following the publication of this article, a representative of AlixPartners contacted GlobalCapital on September 22. He said an amendment would be made to the administrators’ statement of proposals, due to be released this week, to include that Blackstone had terminated its engagement with the bondholders on the day of its appointment as financial adviser to Alix. The representative said that fact had not previously been made public, adding that it had been an “oversight”.Creditors and shareholders were astonished then that a business which had seemed robust enough to attract $200m of fresh funding from a group of bondholders in April was so soon unable to continue. Afren’s key problem was that output from its working oil fields appeared likely to be much lower than previously predicted.Now, some stakeholders are raising another grievance to add to their long list of concerns about Afren.The business advisory firm that took control of Afren as administrator on July 31 was AlixPartners.On August 11, Alix announced that it had hired Blackstone as financial adviser and made Blackstone the point of contact for “any parties interested in participating in potential asset sales” arising from the administration of Afren.Blackstone had been one of the key players in the attempted restructuring of Afren’s debts, as adviser to the group of Afren bondholders that injected new money to keep it afloat.Among Afren’s shareholders, voices quickly rose to denounce the appointment, arguing that Blackstone’s closeness to one group of creditors could create a conflict of interest. The administrator and its advisers, they argued, had to be seen as impartial among stakeholders. Frustration with restructuringOthers, among Afren’s employees and bank lenders, share the concern of some shareholders about the appointment, GlobalCapital has learned.AlixPartners and Blackstone declined to comment for this article.Acting for the bondholders, Blackstone was one of the main proponents of the debt restructuring from its outset until it collapsed at the end of July, when Afren said the production forecasts on which the deal was founded had been wrong.During those months of negotiations, Blackstone became the object of sharp criticism from some employees, shareholders and lenders of Afren.They complained that Blackstone, and in particular its head of European restructuring Martin Gudgeon, had pushed hard for a deal that turned out to be unworkable. Other proponents of the restructuring were also attacked.How, shareholders asked after its appointment, could Blackstone now be seen as an impartial adviser to Alix, and act as the first port of call for potential buyers, when it had for months advised and been identified with only one of the many groups involved in Afren’s often tense and partisan restructuring? Banks unhappySome of the international banks that had lent to Afren with security over Afren’s Ebok oil field, known as the Ebok lenders, also feel the appointment risks a conflict of interest, according to a person close to the group.“The Ebok lenders have made that point to Alix,” the person said on Friday. “It was a foolish thing for Alix to do.”Asked about the possibility of a conflict of interest, a
5 Iron
21 Sep 2015
Am I just unlucky? Am I just unlucky with the likes of Afren and then last week with Ferrexpo whose Ukrainian bank went pop with their $175m. Or is fraud rife amongst these listed companies- RRL? CUP? QPP? Coop bank- held em all! Just waiting for bombshells on my other holdings now like GKP, BLVN and XEL - glad I got some sensible shares too but then nothing is ever rock solid safe is it!
baroo123
16 Sep 2015
Spoken To FCA Guy's today spoke to FCA about Afren and explain all misleading information this company has been giving and with holding vital information financial status from shareholders also on the level of fraud this company has committed with shareholders and the mismanagement.This company has change my daily family life and my kids future also put me in seriou Financial problems.Anybody here who has vital information about this company please call FCAFCA Market Abuse team020 7066 4900
JRz
15 Sep 2015
SPOKE TO FCA After sending many mails to the FCA Market Abuse, I decided to phone and explained about the situation with regards to AFREN. FCA knows about the company's situation and I suggest and recommend to phone them about the money being lost. That way there is a chance that they may make an investigation into the affairs of the company.
ldlv
06 Sep 2015
ALAG Many of the Afren PLC investors who have lost countless sums during the scandals of the past years are seeking legal advice to seek redress and to gain recourse over the significant amount of irregularities that have occurred within and by those associated with this company.We are not convinced of the impartiality of many of the key players involved in this company over the period and the motive or the methods of those who are either involved in irregular behaviour or who have assisted this malicious destruction of a multi billion pound company into its current condition. Some parties seem to be trying to rush through even further unacceptable outcomes to add insult to injury and the only way for us to counter this is to work methodically with the appropriate regulatory authorities and professionals in order to carefully and clinically reverse the damage inflicted upon many investors through what is alleged illegal and unethical actions. This is a marathon not a sprint.Ultimately, this will be resolved by a judge and jury and will probably require multiple litigations in more than one jurisdictions to seek the best outcome for all those who have been dispossessed.It will take a long time to resolve fully but we feel that a positive resolution is likely regardless of any counter narrative that is deployed to deter us.In the interim, we request that no genuine supporter publically reports on any key historic events, allegations or developments on any bulletin board.Justice is slow but pure and we request and suggest that any posters do not waste their time in engaging with the deliberately provocative posters who are being paid to undermine our efforts or who seek to benefit from the dubious transfer of Afren PLC assets to key third parties.These malevolent parties have caused enough damage already and Pied Pipers have misled enough innocent investors to date that we do not want to encourage them further.A legal class action point of contact has been already advertised, published and distributed to all qualifying claimants by our lawyers and they will become the key future unifying voice for the escalation of this pursuit for justice.Be assured, we will continue regardless until this injustice has been rectified.We already have a very strong body of evidence emerging and as before we request that if any shareholder, company official or interested party in Afren PLC can provide any factual information of any event involving the company, that they feel should be reported to the regulatory authorities or has which has unnecessarily damaged the value of the company, please can they collate the information and forward it accordingly to us initially and our lawyers subsequently.The response to date has been staggering and we can only request that you all continue forwarding this information and evidence and we are especially interested in speaking with anyone who has key knowledge of any illegal act or dubious event.If you have legally contentious facts but are naturally concerned of the legal ramifications of passing this information to us please contact the legal contacts direct and they will advise you accordingly as to how this can be handled correctly in the appropriate manner.We have faith in the quality, integrity and powers of the judiciary and authorities to assist us in gaining justice and we are all working towards the day that judges and juries have an opportunity to evaluate the entire facts and not just the propaganda that we have all been barraged with since the irregularities began.Thank you for all your support:claim.alag at gmail comafrenlegalaction at yahoo com
ldlv
01 Sep 2015
Re: Former Directors Possibly Embezzled ... Kenj2 I know many other people think like you. I guess soon or later we will knowafrenlegalaction at yahoo dot com
Kenj2
31 Aug 2015
Re: Former Directors Possibly Embezzled ... Gubu,I believe that your statement "Afren was doomed, between the low POO and crippling production problems" was exactly what the new directors wanted people to believe. To me this was a deliberately engineered theft of the company by the directors and the Ad-Hoc group. The defaults (just after declaring a US$237 a cash position), write downs, and continual bad news, were a little too convenient for me. If this was board room incompetence, then it was on a truly epic scale. Rightly or wrongly, I believe that this was corporate fraud, and the comments of the major shareholder SRM don't sound too different."Throughout, SRM was implacably opposed to the restructuring, viewing it as an unjustified seizure of the company by the bondholders."
gubu
31 Aug 2015
Re: Former Directors Possibly Embezzled ... a fascinating report Kenj2, although as you probably know I have long regarded Shahenshah as the original villain of the piece, and he has walked away with millions in kickbacks.it almost looks now as if Afren was doomed, between the low POO and crippling production problems - due largely it seems to Shahenshah mismanaging the reservoir, going all out for maximum short term production and bringing on the water problems - the unbalanced debt profile and poor hedging policy.really distasteful carry on for anyone who lost a lot of money here, but any new money that went in was good money after bad, as the bond holders seem likely to discover to their cost
