“I am hearing of a number of bids including one from founder Bert Cooper backed by a Chinese consortium, at least two African bidders and of course the bondholders will have a significant interest in the situation,†says oil industry specialist Malcolm Graham-Wood.
M&A is also exciting some investors. Chinese conglomerate Fosun has backed a $500 million (£325 million) cash takeover of Afren, but could be outbid by the exploration and production company's lenders, according to The Sunday Times. Afren is saying nothing.
I have buy limit orders staggered all the way down to 4.3p....the further the price the larger the order....easiest way without having to constantly look at the price!
oilies all positive except Afren today....
if that graph today is not market manipulation I don't know what is....somebody is either loading up or offloading....
I think it might test 11p today, there was a lot of consolidation at 10p
Was just reading Fosun International website, and in most cases they buy shares in company that they are going to invest in