Afren PLC (05304498): administration
- Status
- Administration ended
- Administration began
- 2015-07-31
- Administrators
- Simon Jonathan Appell, Catherine Williamson, Daniel Imison
- Administrators' firm
- AlixPartners
- Incorporated
- 2004-12-03
- Location
- Manchester
- Industry
- 06100 Extraction of crude petroleum
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Management failings / irregularities
From the administrators' statement
The Company was incorporated on 3 December 2004 in England Together with its subsidiaries, the Company traded as an independent upstream oil and gas exploration and production company, with operations organised into three geographical regions, Nigeria, West & South Africa, Eastern Africa, and the Kurdistan region of Iraq The Company's activities span the full cycle of oil and gas exploration, appraisal and development, through to production and delivery
The Company’s shares were admitted to trade on the Main Market of the London Stock Exchange (LSE) and were part of the FTSE 250
The Company ts the ultimate holding company of the Afren Group A group structure chart of the Company and its major subsidiaries (the Group) 1s attached at Appendix B The Group employed approximately 300 members of staff and engaged over 150 additonal sub-contractors at any one time At the date of the Administrators’ appointment, the Company had 66 employees, the majority of whom were based at the Company's leased head office premises at Kinnaird House,
Administrators' statement of proposals (2015-10-01) · Companies House register