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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Afentra Plc | LSE:AET | London | Ordinary Share | GB00B4X3Q493 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.95 | 2.47% | 39.35 | 38.95 | 39.75 | 39.95 | 38.30 | 38.95 | 955,796 | 16:35:25 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -9.09M | -0.0413 | -9.47 | 86.04M |
Date | Subject | Author | Discuss |
---|---|---|---|
28/3/2024 08:50 | Baron keen on AET "Holding Afentra still screening as one of the highest free cash yields for 2024. Production outperforming expectations, oil prices strong. The Azule transaction is set to close in due course, balance sheet grows and M&A optionality really steps up. Exciting times ahead in view. #AET" | cf456 | |
22/3/2024 10:23 | hi jeanesy .. look at the chart around November / Mid December ... it took a while to shake off 30p but the share price is now 40p just 3 months later 25% in 3 months in these AIM markets not to be sniffed at IMHO | onedayrodders | |
22/3/2024 09:29 | everytime this share rises to 40p it immediately falls back. Very disappointing . I thought it would be pushing on especially with the price of oil showing strength. | jeanesy | |
19/3/2024 15:18 | Infinity Investment - Oil Market Update - 19th March 2024 "Indian refiners are growing increasingly wary of Russian oil for fear of getting caught in sanctions' crosshairs, only Chinese buyers seem to be left to purchase large volumes of Russian oil. China is already on track to import 379,000 bpd of Sokol this March, a record volume and over three times February's levels. Meanwhile, imports of ESPO are expected to be at 882,000 bpd this month, the highest since January 2023, according to Kpler. Overall, China might be importing 1.7 Mn bpd of Russian crude. Yet, it remains unclear how much of these volumes will end up with actual buyers and how much will be discharged into bonded storage, amid reported hesitation from Chinese banks to be involved in the trade in light of the Western sanctions. This comes as China is expected to have worked through some of its oil inventories after processing a record amount of crude at the start of the year as refiners ramped up operations to meet holiday demand. The volume of oil processed in January and February was 118.76 Mn T, or 14.51 Mn bpd, an all-time high and 3 per cent more than the same period last year, government data released on Monday shows. China's fuel demand jumped as people travelled for the Lunar New Year holiday that started mid-February. Trips in private vehicles soared, with expressway passenger volumes 54 per cent higher than 2019 levels, while airlines saw 19 per cent more people than the pre- pandemic peak, and apparent oil demand in January-February gained 6.1 per cent to 14.36 Mn bpd, according to Bloomberg. With early 2024 Chinese economic data beating expectations, hopes remain high for at least a buoyant remainder of the year for Chinese oil demand, as the global manufacturing cycle keeps turning higher and some of the major importers are set to rebound from the second half of the year, if not earlier. This should at least set a floor to crude consumption.' | mount teide | |
18/3/2024 12:14 | SP reminds me of trying to keep a beach ball under water ;o) | onedayrodders | |
18/3/2024 11:39 | Afentra - Angola / Block 3/05 (3.1bn bbls OIP - 42% recovered to date) Results of Production Development Initiatives initiated in mid 2020 to date, and the additional measures planned for 2024 and beyond: 'Water injection re-instatement has been ongoing since mid-2020 with injection re-established into all fields. The Operator intends to increase the water injection to a plateau rate of 160 Mbbl/d by 2025. Since recommencement overall injection has been below target, with the rate averaging circa 38 Mbbl/d for the first half of 2023 as difficulties have been encountered. During 2022 power supply and distribution emerged as a bottleneck to sustaining injection rather than pump capacity. In February 2023, a leak was found in a subsea water injection line. The Operator is working to resolve these issues with the injection line leak scheduled for repair during the second half of 2023.'....CPR/June 2023 Prior to the leak the highest monthly injection rate since re-instatement was 53.2 Mbbl/d in February 2023, and the highest daily injection rate 70 Mbbl/d in January 2023. 'Several projects across the eight fields to both sustain and grow production from an average rate achieved in H1 2023 of 18,000 bbls/d are being executed and planned. These include light well interventions (LWI), workovers on existing wells, restarting production from a well on the Impala fields and re-instating full waterfloods across the assets.' ......Afentra - Early H2/2023 Average annual gross production across the 3/05 Block since re-instatement of water injection in mid 2020 and further production development projects commencing in mid 2023: 3/05 Block - Average Annual Gross Production: 17,080 bbls - 2021 18,660 bbls - 2022 18,900 bbls - 2023 23,700 bbls - 2024 to date In a recent company statement, the ongoing programme of 'LWI is expected to support current average production...of 23,700 bopd'......suggestin Afentra considers these production development activities initiated to date as 'low cost and rapid capital return'......a huge understatement considering the 39% increase in annual gross average production they've collectively delivered across Block 3/05 since mid 2020. 'Afentra sees significant additional value creation potential in Block 3/05 with a portfolio of projects identified to potentially increase production. This will consist of, but not be limited to, the following: * Integrating near term asset integrity revitalisation and infrastructure upgrades. * Production optimisation and debottlenecking opportunities. * Optimisation of the existing well stock including workovers, access to behind pipe oil pools and optimisation of artificial lift applications. * Longer cycle brownfield development opportunities such as in-fill drilling and the tie-in of undeveloped discoveries. (Block 3/5's 8 fields have not had an infill well drilled on any of them for 19 years) Further upside not included in ERCE’s resource case have been identified and are under review, including additional infill drilling at the Bufalo, Pacassa and Oombo Fields, alongside potential access to shallower reservoirs.'....late Admission Doc/CPR - Proposed Acquisition of O&G interests in Angola - Sept 2023 | mount teide | |
18/3/2024 07:54 | Good to see cnooc involved hopefully, I have had a very large holding in cnooc for past couple of years, they are involved in the deep water development projects in Brazil and Guyana as junior partners which are the biggest development projects anywhere in the world at the moment. I think involvement in Angola of large Chinese oil companies with deep pockets will be a plus for aet | catsick | |
15/3/2024 10:12 | jeanesy .. it's been the normal reaction here since September, but eventually the cream rises to the top as the chart is indicating. | onedayrodders | |
15/3/2024 09:20 | Need to see azule close and get the closing financials and then blue sky ... | catsick | |
14/3/2024 17:00 | can't understand why shares here are not moving forward atmo despite the strength in the oil price. | jeanesy | |
14/3/2024 14:47 | Brent has averaged circa $85/bbl over the last 5 weeks, and $82.50 YTD. Coincided perfectly with the material increase in production AET has delivered during the last 6 months. This week, even the uber bear US EIA have increased their 2024 average Brent price forecast by $4/bbl to $87. U.S. EIA Short-Term Energy Outlook, March 2024 | mount teide | |
14/3/2024 11:38 | Memory playing tricks ; thanks 74tom. Looks like various metrics support a £1.00 share price once Azule is formally approved. | highly geared | |
13/3/2024 21:51 | He said $50-60m free cash flow PA, so £43m at the midpoint, which at 5x would put shares at 98p. | 74tom | |
13/3/2024 19:18 | Indeed. I think the CEO mentioned $40m - $50m FCF from the end of this year. So about £35m. I’d value on about 5x FCF, which doubles the current share price. | highly geared | |
13/3/2024 15:35 | The oil isn't zero cost or zero tax to get out the ground, the best way to value the company is that the transaction which was very cheap was at around 30k EV per flowing barrel, mid tier oil cos probably worth 50-70k , majors like xom 150k , once the dust has settled here aet shoul re rate from 15-20k to 50k or well north of a pound | catsick | |
13/3/2024 12:57 | SP Angel... "Afentra (AET LN) 39.3p, Market Cap £86m: Strong operational start to year • Afentra announced average 2M24 gross production of 23.7kb/d for Blocks 3/05 and 3/05A (~7kb/d net postdeal), with further well interventions planned to support current production levels. • The Company sold its first 2024 cargo last month, selling 0.45mb of crude oil at $85/bbl to generate pre-tax sales of $38.2m that is now subject to Angolan Petroleum Income Tax (PIT) of roughly 7%. • Afentra commented that it expects the acquisition of a 12% interest in Block 3/05 and a 16% interest in Block 3/05A from Azule Energy to receive Government approval in the coming weeks and close in 2Q24. While completion has slipped again into 2Q24, Afentra continues to move closer to completing its transformative Angolan acquisitions that will give it a material equity position in both Block 3/05 (30%) and Block 3/05A (21.33%). Despite the delays, the Company continues to benefit financially from the effective dates of the transactions, which generated $67.4m of cash flow from ~6kb/d in 2023, based on its post-completion equity interest. The business environment in Angola has improved in recent years and we believe that both Sonangol and ANPG (the Angolan oil & gas regulator) are eager to see these transactions complete, believing that the entry of independent E&Ps will attract a new wave of investment in the Angolan oil and gas sector to boost production and extend the life of its fields. For Afentra, while the drag on timelines has been frustrating, investors will hope they are nearing the end of the process and management will finally be able to get on with optimising the production, reserves and value of the acquired assets." | someuwin | |
13/3/2024 09:15 | Nice update. Wouldn't be too uncomfortable if it ran later. African countries go very much at their own pace. | kevjones2 | |
13/3/2024 08:43 | 7000 BOPD. X 350 x 85 = $208,250,000 per annum or thereabouts, hence will be throwing off serious free cash flow. Significantly undervalued. | highly geared | |
13/3/2024 07:43 | Company update Afentra plc ('Afentra' or the 'Company') (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in Africa, provides the following update on its operations: Operational Update Production performance on both Block 3/05 and 3/05A has been strong year to date with combined gross average production of ~23,700 bopd (Net: ~6,995 bopd1) for the period to the end of February 2024. The next program of Light Well Interventions is underway and we expect these to support current production levels. The Company sold its first 2024 cargo of 450,000 bbls of crude oil in February 2024. The sales price inclusive of the Brent premium was $85/bbl, generating pre-tax sales2 of $38.2 million to Afentra. Onshore License Round Following the announcement by ANPG, which confirmed Afentra as preferred bidder for a 45% non-operated interest in both KON 15 and KON 19 onshore Angola, the Company is now reviewing the license documentation which will be negotiated over the coming months. Government Approval of Azule Acquisition Afentra has received approval from the Angolan Competition Authority for the acquisition from Azule Energy Angola Production B.V. ('Azule') of a 12% non-operating interest in Block 3/05 and a 16.33% non-operating interest in Block 3/05A, offshore Angola (the 'Azule Acquisition') pursuant to a sale and purchase agreement between Azule and Afentra's wholly-owned subsidiary, Afentra (Angola) Ltd, dated 19 July 2023. The Company awaits approval from the Minister of Mineral Resources, Petroleum and Gas and it is therefore now expected that the transaction will be completed in 2Q 2024. Afentra continues to benefit from the asset cashflow from the effective date of October 2022 and upon the completion of the transaction Afentra will provide details on the financing of the final completion payment, which will be positively impacted by the asset cashflow. Commenting on the update, CEO Paul McDade said: "The strong performance of the Block 3/05 and 3/05A assets has continued into 2024 and highlights the significant upside potential of these assets. We expect the Angolan government's approval of the Azule Acquisition to be given in the coming weeks, and this will enable us to proceed with the completion of our third transaction in the country, providing Afentra with meaningful exposure to both of these quality assets. In the meantime, we continue to benefit from the strong asset cashflows from both our existing interests and the Azule interests and this will be reflected in the final payment upon completion of Azule Acquisition." | apotheki | |
13/3/2024 07:10 | Government Approval of Azule Acquisition Afentra has received approval from the Angolan Competition Authority for the acquisition from Azule Energy Angola Production B.V. ('Azule') of a 12% non-operating interest in Block 3/05 and a 16.33% non-operating interest in Block 3/05A, offshore Angola (the 'Azule Acquisition') pursuant to a sale and purchase agreement between Azule and Afentra's wholly-owned subsidiary, Afentra (Angola) Ltd, dated 19 July 2023. The Company awaits approval from the Minister of Mineral Resources, Petroleum and Gas and it is therefore now expected that the transaction will be completed in 2Q 2024. Afentra continues to benefit from the asset cashflow from the effective date of October 2022 and upon the completion of the transaction Afentra will provide details on the financing of the final completion payment, which will be positively impacted by the asset cashflow. So still not quite over the line but the update is still bullish from what I see. If we drop today it will be a buying opp IMHO. We may however, end positive. | lauders | |
12/3/2024 16:51 | From the other thread. "We will probably be debt free by end of 2024, and then throwing off $50-60m free cash per annum from thereon and sustainable for 7-10 years" That's without further growth and onshore opportunities. You cannot help but be impressed by Paul McDade ODR | onedayrodders | |
12/3/2024 13:16 | win / win :o) | onedayrodders | |
12/3/2024 12:06 | Closure of third Angolan deal - Time/Trend is our friend - every day longer means paying less! | mount teide |
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