Afren plc. ADRGrey Market
Aug. 10, 2015, 4:41 AM
- Shares in Afren (OTC:AFRNY), the embattled Africa-focused oil and gas explorer, have been delisted from the London Stock Exchange, ending a desperate battle for survival by the scandal-hit company.
- Afren began insolvency proceedings last month dragged down by a collapsing oil price, corporate governance abuses and a mountain of debt. The company's final demise occurred after it failed to secure a refinancing agreement with lenders.
Aug. 8, 2014, 7:04 AM
- Afren (OTC:AFRNY) has suspended its operations and withdrawn all non-essential staff from its oilfield in Iraqi Kurdistan - the first field to shut in the region as Islamic State advances closer.
- Afren's other operations in Kurdistan continue to function normally but the company said it was closely monitoring events on the ground.