Street Smart Investor
Long-term horizon, energy, natural resources, micro-cap

Afren PLC: Dark Horse With Significant Upside Potential

(Editor's Note: Trading in AFRNF is very illiquid, and investors should consider the risks of operating in illiquid securities. Afren PLC's primary listing on the London Stock Exchange AFR.L offers substantial liquidity.)

Company Overview

Founded in 2004, Afren PLC (OTCPK:OTCPK:AFRNF) is an international independent exploration and production company with assets in three core business units: Nigeria and other West Africa, Afren East Africa Exploration and the Kurdistan region of Iraq.

As of December 2013, Afren has 2P reserves of 286mmboe, 2C resources of 810mmboe and prospective resources of 10,031mmboe. A majority of the company's prospective resources are in the promising East African region where the company has a gross acreage position in excess of 100,200 square km.


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