Afren PLC (AFRE.L)
15 Jul 2015
July 31 - Oil producer Afren Plc said its board had decided to put the company into administration as it failed to secure support for a vital refinancing and restructuring plan.
July 31 - Oil producer Afren Plc said its board has decided to put the company into administration after failing to secure support for a refinancing and restructuring plan.
* Board believes that all possible routes have now been explored during course of this process, which was subject to a strict timetable, driven by Afren Plc's short-term liquidity issues
July 15 - Shares in Afren Plc were suspended on Wednesday after the Nigeria-focused oil producer warned of lower-than-expected output and its need for further funding from bondholders.
July 15 - Oil producer Afren Plc warned that its near-term production would likely be "materially lower" than expected as uncertainty over the results of a business review made it unable to assess its financial position.
* Provides an update regarding review of its liquidity and funding requirements.
May 29 - Oil producer Afren Plc said its noteholders agreed to subscribe for further notes up to $369 million, adding $93 million in net cash proceeds to the amount it announced in April.
May 1 - Afren Plc will consider exiting the Kurdistan region in Iraq and focus on oilfields in Nigeria as it embarks on a restructuring programme, Chief Executive Alan Linn said.
April 30 - Beleaguered oil producer Afren Plc said it had secured $255 million from its bondholders and was in talks for a wider recapitalisation plan to be completed by the end of July.
April 30 - Beleaguered oil producer Afren Plc swung to a full-year loss, hurt by a $1.1 billion impairment charge due to a fall in oil prices and a $900 million write-off on its Barda Rash reserves in the Iraqi Kurdistan region.