Afentra plc

Equities

SEY

GB00B4X3Q493

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 11:35:15 2024-04-26 am EDT			5-day change	1st Jan Change
47 ^GBX	+3.98%		+8.05%	+27.03%

Apr. 25	Afentra’s Azule Acquisition Receives Angolan Government Clearance	MT
Apr. 25	Afentra touts government approval for acquisition of Azule interests	AN

Afentra completes Sonangol reverse takeover

December 08, 2023 at 09:30 am EST

Afentra PLC - upstream oil and gas company focused on acquiring mature production and development assets in Africa - Completes acquisition, constituting a reverse takeover, of a 14% non-operating interest in Block 3/05 and a 40% non-operating interest in Block 23, offshore Angola. Buy increases Afentra's interest in Block 3/05 to 18%. This will increase to 30% once Afentra completes its acquisition of further non-operated interests in Block 3/05 and Block 3/05A, offshore Angola, from Azule Energy Angola Production BV. Expects completion in first quarter of 2024. Says gross production from 3/05 averaged 20,560 barrels of oil per day in November 2023, with annual guidance for 2023 set at around 19,100 barrels. Says payable cash consideration totals USD21.1 million.

Current stock price: 33.95 pence, up 8.1% in London on Friday afternoon

12-month change: 30%

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BIST 30	10,732 PTS	+2.39%	+1.94%	-
DOW JONES AFRICA TITANS 50 INDEX	462 PTS	+1.81%	+2.72%	-
S&P AFRICA 40 INDEX	157.6 PTS	+3.21%	+3.49%	-
BRENT CRUDE OIL SPOT	88.07 USD	+0.10%	+1.75%	-
WTI	83.53 USD	0.00%	+1.68%	-
AFENTRA PLC	47 GBX	+3.98%	+8.05%	129M

Latest news about Afentra plc

Afentra’s Azule Acquisition Receives Angolan Government Clearance	Apr. 25	MT
Afentra touts government approval for acquisition of Azule interests	Apr. 25	AN
Afentra to finalise Angolan acquisition in "coming weeks"	Mar. 13	AN
Afentra Gets Regulatory Approval to Purchase Blocks in Offshore Angola	Mar. 13	MT
MetalNRG's legal settlement; Impellam confirms payout	Jan. 24	AN
Afentra named preferred bidder for two blocks in Angola	Jan. 22	AN
UK's Afentra Wins Bid for Two Blocks in Angola	Jan. 22	MT
Afentra completes Sonangol reverse takeover	Dec. 08	AN
Afentra Buys Stakes in Two Blocks Offshore Angola	Dec. 08	MT
Afentra PLC completed the acquisition of 20% non-operated interest in Block 3/05 and 40% non-operated interest in Block 23 from Sonangol Pesquisa e Produção, S.A. for $91.5 million.	Dec. 07	CI
Afentra sets sights for early December AIM admission	Dec. 04	AN
Afentra acquisition of block interest approved by Angolan government	Nov. 09	AN
Afentra Receives Angolan Government Nod for Stakes in Offshore Blocks; Shares Up	Nov. 09	MT
Afentra trading suspension lifted after document published	23-09-18	AN
TruSpine accepts Aquis findings after investigation	23-09-18	AN
Afentra records widened interim loss, cash resources drop	23-09-12	AN
Afentra plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-12	CI
FTSE 100 Rose 1.8% Led by Housebuilders on Signs of Slowing UK Inflation	23-07-19	DJ
UK Corporate Credit Distress Likely to Rise	23-07-19	DJ
Afentra subsidiary to buy stakes in Azule blocks offshore Angola	23-07-19	AN
UK's Afentra to Boost Stake in Angolan Blocks in Up to $85 Million Deal	23-07-19	MT
Afentra expects completion of Sonangol acquisition in July	23-06-20	AN
Afentra's Purchase of 20% Stake in Angola Project Expected to Finalize in July	23-06-20	MT
Afentra plc Appoints Thierry Tanoh to Its Board as Independent Non-Executive Director and Chairman of the Audit Committee	23-06-13	CI
Trinity Exploration spuds well; Equipmake inks deal	23-05-16	AN

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Company Profile

Afentra plc is a United Kingdom-based upstream oil and gas company. The Company is focused on acquiring mature production and development assets in Africa. Its portfolio consists of an 18% non-operated interest in the long-life, offshore production Block 3/05 in Angola, and a 5.33% interest in the adjacent Block 3/05A offering additional development potential. In addition, the Company has a 40% non-operated interest in the highly prospective Block 23 in Angola and a 34% non-operated interest in the Odewayne Block, onshore Somaliland. Block 3/05 is located in the Lower Congo Basin and consists of eight mature producing fields. Block 3/05A is located adjacent to Block 3/05, contains the undeveloped discoveries Punja, Caco and Gazela, with an estimated in place resource of 0.3 billion barrels. Block 23 is an approximately 5,000 square kilometers exploration and appraisal block located in the Kwanza basin. Odewayne Block covers approximately 22,840 km2, which is located in Somaliland.

Sector

Oil & Gas Exploration and Production

Calendar

2024-07-25 - Q2 2024 Earnings Release (Projected)

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.47 GBP

Average target price

0.58 GBP

Spread / Average Target

+23.40%

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