Afentra Share Discussion Threads

[palisz] 08/8/2023 08:30

[...]
Afentra PLC CEO Paul McDade spoke to
@PetroleumEcon
about the progress with its transactions offshore Angola, and its growth ambitions in Angola and Africa.

[coldjoe] 01/8/2023 21:02

Very exciting read!

"This is a medium-term game, it's not one deal and that's it. It's about a conveyor belt of deals -- and we've got to be selective," McDade said. "We're looking at lots of things... We might miss some things, we might choose not to do them because the value is not right, but there will be plenty."

hxxps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/080123-interview-afentra-ceo-eyes-conveyor-belt-of-deals-as-majors-retreat-from-mature-african-basins?fbclid=iwar14lpa2720dyvteaokelwtwu_owptazwaxhnsxtlhtz7wu-mk5c-r7awis

[astralvision] 26/7/2023 14:54

Ok, what's happened is Askar Alshinbayez , who owned 11.96%, has bought YF Finance stake of 9.9% and AA now owns 21.86%

the above two are known to each other through Meridian Capital

Askar Alshinbayev

Yevgeniy Feld

[noramping] 26/7/2023 14:32

Astral, insider trading ? Looks fishy to me.

[astralvision] 26/7/2023 09:43

Looks like YF finance have sold their stake to Askar Alshinbayev, who now owns a very significant stake.Any comments from those that may know a bit more about the situation?

[coldjoe] 21/7/2023 20:22

Have a look at the video presentation about the latest aquisition. Main points are that Sonagol was very supportive about the adjustment to the original transaction + Paul said they were very close to getting approval from the regulator but then they changed the the %. Overall very positive. Let's hope for a nice mark up on restoration in October. One would expect at least 30p.

[wbodger] 21/7/2023 14:16

"... until such time as either ... or ... etc"

If they can't get a signature it doesn't go ahead. Couldn't be any clearer.

I would have like more certainty than "we expect both transactions to complete in Q4". We've waited a long time already for approval of the Sonangol acquisition. Wasn't it expected in Q2?

Can't do much now though. (Dodgy to allow itk traders to exit without RNSing the reason for the delay while it was trading.)

[extrader] 21/7/2023 13:43

"I don't need artificial intelligence to make money, I do well enough out of natural stupidity"

[otemple3] 20/7/2023 14:52

Think you are missing the meaning of 'either' in the statement

[dilip40] 20/7/2023 13:37

dont understand states both aqusitions are not proceeding
and then expects both to complete q4 2023

[onedayrodders] 20/7/2023 13:03

hubs, it's in the RNS ..

In accordance with the AIM Rules for Companies, the Company's ordinary shares will be suspended from trading on AIM with effect from 7:30 a.m. today. Trading in the Company's ordinary shares will remain suspended until such time as either an admission document is published, or an announcement is released confirming that the Amended Sonangol Acquisition and the Azule Acquisition are not proceeding. The Company expects to publish the Admission Document in early Q4 2023, with both the Azule Acquisition and the Amended Sonangol Acquisition being subject to shareholder approval thereafter. We now expect both transactions to complete, subject to shareholder approval, in Q4 2023.

[hubs] 20/7/2023 09:10

Anyone any good reasons why the suspension? The deal seems excellent, but not sure why....

[linz22] 19/7/2023 11:29

Anything from today's presentation, or still underway?

[noramping] 19/7/2023 10:48

Some predicted suspension (not me) , time will tell if market approves in a few months.

[linz22] 19/7/2023 10:33

We knew that news was due, but not exactly the kind I was expecting - the suspension of trading..

[onedayrodders] 19/7/2023 08:26

Happy to park my money with these guys and let them make it work for me over the next few years

[mount teide] 19/7/2023 07:50

Deferred consideration for the Sonangold deal has been extended to 10 years.

Under the improved PSA, the highly material development upside in 3/05A seems to be one of the main drivers for the Azure deal and amendment of the Sonangol deal - "Development of multiple fully appraised discoveries in Block 3/05A"

On completion, the effective dates of the deals give 17-20 months of economic benefit from the Sonangol asset and 12-15 months from the Azure assets......oil averaged $101 in 2022 and $80 to date in 2023.

[croasdalelfc] 19/7/2023 07:47

30% makes sure they are not the operator hence amended original deal

[noramping] 19/7/2023 07:38

Nowt we can do now, just wait for a few months until trading resumes

[jungmana] 19/7/2023 07:26

These guys mean business;-- Combined Acquisitions - material equity in both Block 3/05 (30%) and Block 3/05A (21.33%)(1)o Net 2P reserves of approx. 32 mmbbls and net 2C resources of approx. 20 mmbbls(3)o Production of approx. 6,000 bbl/d net (including production from Block 3/05A)o Increased exposure to significant upside potential:-- Improved recovery from over 3 billion bbls of OIIP in Block 3/05-- Development of multiple fully appraised discoveries in Block 3/05Ao Decommissioning costs to date have been pre-funded by previous and existing JV partners

[mount teide] 19/7/2023 07:17

Azule Acquisition & Sonangol Acquisition Update

SPA with Azule to acquire a further 12% of Block 3/05 and up to 16% of Block 3/05A

Amended Sonangol Acquisition to acquire 14% of Block 3/05 offshore Angola

Shares suspended

Azule - Looks to be a good deal - effective date of October 2022

Sonangol Deal - effective date remains April 2022

Amount payable on completion of both deals in Q4/2023 will likely be a very small percentage of the headline price.

[linz22] 17/7/2023 09:26

We're due news here presently.

Half way through July already - doesn't time just fly??

[mount teide] 15/7/2023 09:57

C_E - the comment was made with respect to the Angolan O&G industry generally. Exxon and others have already received significantly improved fiscal terms to explore and develop a number of deep water blocks.

With most new investment targeting offshore exploration blocks, the Government is implementing contract and fiscal incentives to promote operational efficiency in mature and marginal fields, to attract more second phase specialist SME's to its O&G Industry to maximise recovery from these assets.

At the time of completion of the INA Acquisition, Afentra updated the market on the Sonangol Deal with the following comment:

'Sonangol Acquisition - With the Block 3/05 JV partners and the Angolan Oil & Gas regulator now having agreed the terms of the Block 3/05 licence extension, which extends the production sharing agreement to 31 December 2040 with improved fiscal terms that strengthen the economics of the permit, the process of ANPG obtaining the requisite governmental approvals for the licence extension should be a formality.'

As I understand it, part of the improved fiscal terms for Block 3/05 includes being able to treat all the fields within the block as one large field for investment, tax and regulatory purposes.