Afren : Nigerian Operations Update

Nigerian Operations Update

London, 11 November 2014

Afren plc ("Afren" or the "Company") is pleased to provide the market with an update on its operations at Ebok, Okwok and OML 115, all located offshore Nigeria.

Ebok Central Fault Block Extension platform jacket installed

At the Ebok field, following a favourable weather window, Afren and its Partner, Oriental Energy Resources Limited (Oriental), are pleased to announce that the jacket for the Ebok Central Fault Block Extension (CFBx) platform has now been installed.  The installation of the decks and bridge will complete in early January 2015 once the wellhead jacket at Okwok has been installed; following which the Partners will commence the hook up and commissioning of the CFBx platform. 

The work programme at the CFBx will include up to 9 new wells to be drilled and brought on-stream by the end of 2015 targeting both producing and undeveloped reservoirs.  Elsewhere at the North Fault Block (NFB), the Partners continue to make good progress and are targeting completion of the third new producer by mid-December 2014.  The forward programme at the NFB will incorporate up to an additional 5 wells by year-end 2015.

The Company remains on-track to deliver full year net production at the lower end of guidance between 32,000 to 36,000 bopd (excluding Barda Rash).

Drilling commences on the Ameena East Prospect

Afren and its Partner Oriental have spudded the Ameena East well located on OML 115, offshore Nigeria. The well is being drilled with the Shelf Adriatic I drilling rig.  The Ameena East prospect will be targeting 65 mmbbls of gross unrisked resources in zones of prospectivity in the Biafra intervals that are productive north of the acreage, with secondary objectives in the Qua Iboe reservoirs equivalent to those at the Ebok and Okwok fields.  The drilling campaign at Ameena East is expected to be completed in December, 2014.

Drilling at the Ebok Deep exploration tail targeting 50 mmbbls of gross unrisked resources in the deeper Qua Iboe and Biafra reservoirs is expected to commence in Q4 2014 following the completion of the third new producer at the NFB.

http://www.rns-pdf.londonstockexchange.com/rns/6395W_-2014-11-10.pdf

Toby Hayward, Interim Chief Executive of Afren, commented:

" With incremental new production to be brought on stream from both the CFB and NFB platforms, as well as from the Okoro FFD, Okwok, OML 26 and OML 113 developments, Afren is expecting to deliver strong production and cash flow growth in 2015 and beyond.  We are pleased to have commenced our drilling campaign at the Ameena East prospect and are excited about the potential there and at Ebok Deep ."

Notes to Editors

Afren is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange and a constituent of the Financial Times Stock Exchange Index of the leading 250 UK listed companies. Afren has a portfolio of assets spanning the full cycle E&P value chain. Afren is currently producing from its assets in Nigeria and the Kurdistan region of Iraq and holds further exploration interests in Nigeria, Ghana, Côte d'Ivoire, the Kurdistan region of Iraq, Congo Brazzaville, Kenya, Ethiopia, Madagascar, Seychelles, Tanzania and South Africa. For more information please refer to www.afren.com.