Analyst Research Report Snapshot

Title:

AFREN - GROWTH ON TRACK

Price:

$10.00

Provider:

Edison Investment Research

Date:

29 Sep 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

AFRE.L

Available for Immediate Download
Summary:

During last week’s interim results, management reinforced that Afren is on track to almost quadruple production by the end of 2012. Afren trades at par with its peers based on EV/2P valuation and we think it does not reflect above sector-average growth upside. Timely development of the Ebok field and successful results from exploration drilling in Congo, Ghana and Cote d’Ivoire are near-term catalysts. Its improved balance sheet eases pressure on funding the development programme. FOR MORE INFORMATION ON THE ATTACHED RESEARCH PLEASE CALL 020 3077 5700, EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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