New News! Oriental Energy appears to have made a claim on the Ebok Field. It looks like the entire Nigerian operation could be handed over to Oriental energy and by the end of this month! That is almost probably more than 80% of Afren's current production. What is in question now, is what will happen to EAX and the Kurdistan assets. remember that Lion Trust still has a claim on EAx which is based in Madagascar which could mean that it may be possible that EAX is handed over to them? In compensation for the $10m claim that are trying to make on EAX. I am not sure what Kurdistan could be worth? Any other asset which Afren have is just Exploration rights and probably not hold much value.
Why Has it taken AFR 2 years to finally decide all of a sudden that Kurdistan is not drillable having had it back in 2013?
Maybe a Deal has been reached with Gunvor? If they decided not to sell they would probably have said it straight away, so they must definetly be discussing something?
It appears AFR were considering Kurdistan assets way back in Feb 13!
If Afren were to be liquidated creditors could lay claim on the shares own4d by Afr on FHN.
afren own a portion of FHN a subsidiary which it is in partnership with in some of its other Nigerian oil projects. Afren has quite a few projects in Nigeria,.
well it says in the admin report it is not affected by the admin of afren.
It shows that Afren still has assets a lot of further exploration going on under its subsidiary. They can'y have blown £300 million in just a few months. I think if a NO vote was becoing inevitable the board must have taken another route by placing the company in admin and a potential sale to go through.