Wednesday March 04, 2015
My last day at the Greek Hovel – 1 last satisfying bonfire
Weekly Postcard #102 – Driving into the clouds I see the past and the future
Ireland brightens up my day

PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Afren: Not Fundamentally cheap

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- Tom Winnifrith

Earlier this week Afren plc (AFR), a FTSE-250 oil and gas exploration and production company which despite its size remains a darling of the Bulletin Boards, updated investors on its performance in 2012 and its outlook. This review helped the shares up to 152.5p although they have subsequently slipped back to 147p which capitalises the company at £1.595 billion. Chartists will note that 152p proved a resistance level ten months ago and failure to breach that level ( which had been support a ten months prior to that) saw the shares fall back to 100p. But I’d rather burn my West Ham season tickets and start supporting Spurs than become a Technical analyst and so I review the fundamental case.

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