Afren plc, issues the following trading statement and operations update, in advance of the Company’s 2012 full year results which are scheduled for release on 25 March 2013. Information contained within this release is un-audited and is subject to further review.
Commenting, Osman Shahenshah, Chief Executive of Afren plc, said:
“2012 saw record production and financial performance combined with significant exploration success in Nigeria and the Kurdistan region of Iraq. In 2013 we expect to further grow our reserves base through a multi-well exploration and appraisal drilling campaign in both established and new basins, while continuing to grow our production base. We are financially well positioned with robust cash flows, a strong balance sheet and the necessary financial capacity and flexibility to optimally explore and develop our high quality portfolio of growth opportunities well into the future. There is much to look forward to in 2013 and beyond.”
Keta Block
The Partners have progressed into the next two year exploration phase. The work programme associated with the current phase involves the acquisition of new 3D seismic data, which was undertaken during the fourth quarter of 2012, and the drilling of one exploration well in 2014.
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West Africa Projects 
