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Afren Share Chat :

webster is back 08:22:45 05/03/2015
7,235p paid by investors this morning. What do these people not understand about the following extract from March 4th RNS "....and a broader consensual restructuring is likely to result in economic terms associated with the new funding and/or the issue of new equity which will substantially dilute the interests of the Company's current shareholders."
pyemckay 20:36:29 04/03/2015
RNS seems clear to me. Substantial Dilution is on the cards to keep the oil flowing. I managed another short at 7.153p this morning. It may take a week or so to hammer out the details but couldnt believe my luck being able to short at this price. The company has gave us all the details of whats going to happen. Unreal. P
Juicin Drumroll 18:36:41 04/03/2015
For "improved moderated" substitute "Leeson will delete any post & ban any poster who doesn't agree with his view" & you'd be pretty close to the truth. HTH. BTW, this share is fucked whether you moderate it or not.
12bn 12:34:31 04/03/2015
Holding AFR is like holding a stick of dynamite with a lit fuse,all the sensible posters are saying get rid of it before it destroys you and the idiots are saying 'no the wind might blow the fuse out and then I can sell this valuable stick of dynamite'.
JoJo_Jo 12:24:03 04/03/2015
I thought 'failure to pay as/when due' was an act of insolvency. An unhappy bondholder (i.e.. one outside the ad hoc committee representing 55%) could now petition if they think Afren is worth more than its total debt. Unlikely I agree, but a concerning possibility. Jo.
nearlycertain 12:21:57 04/03/2015
fishybits, I think "hacked" is a bit strong, frankly. It conjures an image of nerds using weird code or tools to break in and get at stuff. Putting a document up on the server early, which can then be accessed by just incrementing a number in a url is not hacking, it's just very poor website management.
jacks13 12:11:22 04/03/2015
fishybits, the triggering of a default (point 3) is hardly a standstill! The other point to bear in mind is the new money, when it comes in, will want to invest in a company with a more manageable debt profile (point 5). That means more downward pressure on the sp to accomodate the new money.
nigelpm 11:47:02 04/03/2015
No shortage of 'wise after the event' posters coming on here. I don't remember seeing many of them posting before the recent RNS's detailing the debt issues. You obviously don't read the board then. Plenty of us were posting warnings.
12bn 11:31:18 04/03/2015
aja5,the sp is being held up because shorters have to close or wait ages for their money. Shorters close by buying and it is shorters buying today that stopped the sp tumbling to the 1p/2p area imo. I do not short shares,I have no financial agenda here except to say that if you want a real multi-bagger then buy LGO and hold for a year or so.
aja5 11:26:41 04/03/2015
12bn.....I think you may be falling into the greed trap,this will still need a share holder vote and someone IS buying these shares otherwise we would be at your 2p target NO? The share holders have already had a massive kicking !! Again I hold no position
loglorry1 11:26:25 04/03/2015
In everyone's interest except current #AFR equity to have a rights issue @ lowest poss price (1p?). Curr equity has no bargaining chips now they are in default. Anyone who sees value in company I suggest you buy the bonds as they will get almost all of newly recapped company or else sell most shrs you have here and take part in right issue when it comes. Log
aja5 11:12:08 04/03/2015
So looking at this logically.... 5billion shares @10 cents giving liquidity and paying 2016 bonds@ par would increase the NAV to $2.5 billion less let's say $300 million impairment charge $2.2 billion/6.1 billion/1.55= 18p per share fully diluted! Now holding no position !

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