Afren confident about 2012 production, but shares are off - UPDATE

Afren's 2011 average production rate was held back by a longer-than-anticipated period of facilities related downtime at the Ebok field in Nigeria, but the firm remains bullish about its production prospects in 2012.

Afren's 2011 average production rate was held back by a longer-than-anticipated period of facilities related downtime at the Ebok field in Nigeria, but the firm remains bullish about its production prospects in 2012.

The downtime was "due in part to safety requirements as a result of managing simultaneous production and drilling operations and commissioning work associated with the production processing equipment and power generation facilities."

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