Investors snapped up oil and gas explorer Afren this morning after the company confirmed a much-anticipated business deal with Energy Equity Resources.

The partnership means the company will be involved in exploring and developing opportunities that exist within oil mining lease 115 – OML 115 - offshore South East Nigeria, adjoining the EBok and OkWork development area.

Speculative investors rushed to buy into the anticipated success after the deal confirmed Afren as a major independent player in Nigeria.

Additional good news came from the company’s announcement that it beat its production expectations of 21,000 barrels per day in 2009 and it will now target 35,000 barrels from its existing Ebok development.

It is no surprise then that Afren accounted for almost 20 per cent of purchase activity, according to this morning’s statistics from TD Waterhouse (TDW). Afren was tipped earlier this week on WI Stock Picks, (click here to read) 

The top retail sales were banking stocks this morning. Barclays and Lloyds TSB accounted for 26.5 per cent and 19 per cent respectively.

AIM listed precious metals explorers Baobob Resources sprang into the top ten sales too. The company reported it had promising early results from a survey on a previously unexplored area in Singore east.

TD Waterhouse
Top ten trades
28 January 2010 (morning session)

Buy
1. Afren, 19.25 per cent
2. Royal Bank of Scotland Group (RBS), 17 per cent
3. Lloyds Banking Group, 16.25 per cent
4. Barclays, 10.25 per cent
5. Xstrata, 9.5 per cent
6. MAN Group, 7 per cent
7. Tower Resources, 6 per cent
8. Desire Petroleum, 5 per cent
9. Rockhoppar Explora, 5.25 per cent
10. Royal Dutch Shell, 3.25 per cent

Sell
1. Barclays, 26.5 per cent
2. Lloyds Banking Group, 19 per cent
3. Xstrata, 14.25 per cent
4. RBS, 12.25 per cent
5. Cadbury, 6 per cent
6. Baobob Resources, 5 per cent
7. Kazakhmys, 4.25 per cent
8. Gulf Keystone, 4.25 per cent
9. Solo Oil, 4.25 per cent
10. Inchcape, 4.25 per cent