Today also sees the release of a trading update for Afren and an investor presentation.
http://www.afren.com/download.axd?id=1318
http://www.afren.com/download.axd?id=1317
"Seychelles ? Blocks A,B,C (Afren 75%)
Seismic data acquired to date by the partners have revealed the presence of several large scale structures in all three licence areas, in addition to new basins that could also contain significant Jurassic sedimentary sections. The partners have a tender process underway as a precursor to acquire new seismic data during the second half of 2011 over Blocks A,B and C, ahead of expected exploration drilling in 2012/13."
Also of note is the Seychelles accounts for 10% of the prospective resources of Afren. If Afren are successful in converting the prospective resources to reserves (through drilling) it will triple the reserves of Afren. Current MC for Afren in 1.5 bil GBP.
afren: a play on the growing impact of african, page-2
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