The share price of
SHARE TIP UPDATE:
Afren's share price - at 144p – is up by 260 per cent on our original buy advice (40p, 14 Nov 2008), but recent drilling at Simrit-2 could conceivably result in an upward revision to resources. FirstEnergy Capital value Afren's total exploration suite at 21p risked and 223p unrisked per share. Another 40p risked element could be added through imminent drilling at Afren's PaiPai and Nunya-1X prospects. Buy.
Last IC view: Buy, 135p, 28 March 2012