We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Afentra Plc | AET | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.20 | 0.47% | 43.20 | 16:35:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 43.10 | 42.60 | 43.80 | 43.20 | 43.00 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 12/4/2024 13:46 by mount teide Angola - Afentra's O&G Investment Case View:'Angola is one of the largest oil producers in Africa with current production of 1.1 million bbl/d from deepwater, shallow water and onshore dating back to 1956. The economy is dependent on responsible management of hydrocarbon resources. Investment has historically been dominated by IOCs, however assets are starting to change hands. Afentra believes that the situation is similar to the status to the UKCS where a more mature industry transition has already played out. Global research and consultancy business Wood Mackenzie has identified approx. 15 billion barrels of oil and gas reserves and resources, highlighting the scale of opportunity in Angola. According to IHS Markit Consulting, close to 300 fields have been discovered with less than half developed (IHS 2022). Over the last 5 years, the Angolan government led by President João Lourenço has actively sought new oil and gas investors alongside improving fiscal terms and extending licenses. There are large opportunities for growth and limited competition in the independent space. The regulatory authorities have only shown to demonstrate a pragmatic approach throughout the negotiation period, providing a strong signal of the Country’s willingness to encourage investment into the upstream sector. This strengthens our confidence that we have entered a supportive market with a firm understanding of the evolving industry landscape, and a recognition of the important role that companies like Afentra can play in delivering a responsible industry transition.' |
Posted at 07/4/2024 11:22 by tim000 Publishing natural decline rates should be mandatory. Some companies are better than others in making that info available to investors. It’s a bit like AISC data for gold miners. |
Posted at 07/4/2024 07:12 by tim000 O/T, xxnjr, are you an investor in Africa Oil by any chance? |
Posted at 13/3/2024 12:57 by someuwin 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." |
Posted at 06/3/2024 11:31 by mount teide This reads well.Angola - New Board of the ANPG, the National Concessionaire and Regulator of the O&G Industry, expected to further sweeten the operating environment(fiscal arrangements) to a level more competitive than its global peers to accelerate investment in the O&G sector, in an effort to target a near doubling of production to 2.0m bopd over the med-long term. 'A new Board of Administrators was recently appointed at the ANPG, national concessionaire and industry regulator, the National Oil, Gas & Biofuels Agency following the end of the previous board’s mandate..... ....The new board is expected to double down on efforts to improve the operating environment for investors making Angola more competitive when compared to its peers globally. The ANPG’s primary focus will remain on accelerating exploration in Angola towards increased production...... ....Angola plans to increase oil production to 1.18m bpd this year with the goal of reaching previous heights of close to 2m bpd in the mid- to long-term, following an expected boom in new exploration. ....To this effect, Angola is inviting global E&P companies to invest in exploration to achieve this goal. The country concluded its most recent oil licensing round – a 12-block tender featuring blocks in the Lower Congo and Kwanza basins saw 53 bids submitted – in January 2024, with the next round scheduled for 2025. '....Angola O&G 5th March |
Posted at 03/3/2024 13:31 by mount teide Angola - Sonangol Asset Divestment ProgrammeIn June 2022, Sonangol began a process to hunt for partners in blocks 3/05, 4/05, 5/06, 15/06, 18, 23, 27 and 31 in an effort to attract new investors to boost oil and gas production and also reduce its financial obligations. Ten years ago and more, a barrel-load of bidders would have battled to enter these blocks, which offer exploration, development and production opportunities aplenty in a country once considered the oil world’s El Dorado.... Upstream 2021 'Admittedly, under the regime of former president Jose Eduardo dos Santos, few companies apart from incumbent supermajors — or those close to Sonangol, the ruling clan and its running dogs — would have had a realistic chance of acquiring these assets. Many deals would have been agreed behind closed doors, with only those in the know and with strong Angolan relationships standing a chance of being successful. But times have changed. Angola’s President Joao Lourenco genuinely seems to want things done by the book, with increased transparency the order of the day — as reflected in the formal bid agenda for this Sonangol farm-out process covering deep-water and shallow-water blocks. While these "open book" efforts are laudable, they coincide with the energy transition, so it will be a challenging time for any competitive acreage bid process. Jersing, currently business development advisor to privately owned exploration start-up Eburon Resources, described the three offshore blocks as “heartlandR Another block with promise is 3/05, where operator Sonangol wants to reduce its 50% stake. A non-operating stake in this asset could be in the sweet spot for acquisitive Afentra, the investment vehicle of former Tullow Oil chief executive Paul McDade, and also Vaalco Energy, Jersing said....."The exercise will attract interest from new companies,” but warned, “we’re not in the golden age of the oil industry......sugges Interesting to note that Sonangol elected to choose preferred bidders for the offshore acreage farm-out of these first eight assets put up for divestment. Afentra was one of six initial bidders on shallow water block 3/05, which proved one of the most highly regarded and bid-on. After the dust settled and smoke cleared on the auction process, Afentra, indigenous player Somoil, and Namibia’s state oil company Namcor were among the major winners for the various assets, while 10 bidders failed to get selected to make the grade. The successful bids and financial return projections for the eight assets up for auction would, without question, have been based/heavily influenced by the $57.28/bbl average oil price during the seven year period prior to the announcement of the auction. Afentra's Q1/2023 Presentation of the Valuation Summary of the Block 3/05 Deal, confirms this view: 'Sustained current oil price environment($70-80/b 'Afentra Investment case and upside potential provides an additional 30% value increase' 'Robust asset economics with a breakeven of $35/bbl' 'Potential to improve and maintain opex $20/bbl' 'Every 1% increase in recovery from OIIP of 3 billion bbls delivers 30 mmbbl' 'Minimal capex required to realise 2P case of 115.2 mmbbl' 'Multiple low-cost opportunities to increase future production' 'Significant upside from 2C & 3C resources with potential for further upgrades' With a consensus 2024/25 Brent forecast of $80-$90/bbl, this asset has the potential to annually throw off free cash equivalent to multiples of the final price paid for the asset, after adjustment for the financial benefit accrued from the effective economic date of the deal. AIMHO/DYOR |
Posted at 20/2/2024 09:20 by mount teide Sent the following message to poster 'excellence' the AET thread creator:'.....hope you're well! Since the header of your AET thread was last updated 18 months ago, the company is now on many more investors radars and with it continuing its rapid growth in 2024, would greatly benefit from being brought up to date, or superseded with a new thread, expanded to provide an enhanced source of current information, presentation links, charts and data for investors. Happy to do this but, would be interested in your thoughts before commencing. Best regards, |
Posted at 24/1/2024 07:28 by nickiegaul Afentra PLC Operations and Financial UpdateSource: UK Regulatory (RNS & others)TIDMAETRNS Number : 6783AAfentra PLC24 January 202424 January 2024AFENTRA P L COperations and Financial UpdateAfentra plc ('Afentra' or the 'Company'), the upstream oil and gas company focused on acquiring mature production and development assets in Africa, provides an operational and financial update for 2023. Afentra currently holds non-operated 18% and 5.33% working interests in Blocks 3/05 and 3/05A, respectively, offshore Angola with working interests to increase to 30% and 21.33%, respectively, following completion of the impending Azule transaction.Operatio |
Posted at 18/9/2023 12:50 by jungmana Any questions? ask here,Afentra will be hosting a Management "presentation audiocast via Investor Meet Company on 20 September 2023 at 10.00am BST ( https://www.investor |
Posted at 03/7/2023 14:00 by mount teide Angolan Regulator focused on targeting new upstream investment from medium and small companies - Afentra mentioned.Angola makes its pitch: “Flexibility is our middle name” - Energy Voice 30th June 2023 'Angola’s regulator is focused on attracting investment into the upstream, putting a particular focus on new investment from medium and small companies, according to a recent presentation. The West African state will continue testing its appeal through bid rounds. It is launching its next offering, focused on the Lower Congo and Kwanza basins on September 30. The round will be open until November 9. Recent winners include awards on KON-2, KON-11, KON-12 and KON-16 in May. Angola tweaked its terms four years ago, explained Agencia Nacional de Petroleo, Gas e Biocombustiveis (ANPG) negotiations director Alcides Andrade. “The aim was to be the best choice for energy investors worldwide,” he told the audience at IN-VR’s Global Energy Week. The country’s aim was to “mitigate the decline in production”, he continued. Production peaked in 2008 at 1.9mn barrels per day. “Since 2016, we have been fighting the decline curve.” Natural decline from its deepwater assets is 15-20%, Andrade said. Angola has now stabilised its production, he said through the new reforms. “We’ve stabilised production above 1.1mn bpd. The strategy is to keep production for many more years to come above 1mn bpd.” ANPG expects existing opportunities to keep up output, while the new licences should start to bear fruit from 2029. “We have tried to achieve the right environment for investors to come to Angola. We have a stable fiscal and contractual environment. It is important we continue to create such an environment to continue attracting new investment,” said ANPG executive board member Natacha Massano. Andrade said the reforms should see investments reach $60 billion over the next five years, “that’s an increase of 40% from the last five years”. Most of that will be capital expenditure. Part of the wave The next licence round, launching in September, will offer 12 onshore blocks, four in the Lower Congo and eight in the Kwanza. A number of blocks are also available under permanent offer, including Blocks 10, 11, 12 and 13. “Offshore is more capital intensive than the onshore licence rounds,” he said. The work programme for the licence round aims for flexibility, he said. “Flexibility is our middle name,” the ANPG official said. Licences are available under production-sharing contract (PSC) terms. “The focus is that investors recover their investment through cost oil as soon as possible in the early stages.” The profit sharing also should help ensure “investors have high returns”, he said. The aim is to attract companies to “invest and to continue investing”. Social and green projects will only become a factor once first oil has been achieved, he said. “The focus is to find ways for you to recover your investment fast. When to invest is now. Be part of the wave, don’t stay behind.” Afentra nears One company putting Angola to the test is Afentra, which completed a transaction with INA recently and is working on another with Sonangol. The London-listed company signed the deal in April 2022 and is just about to complete, said Afentra COO Ian Cloke. “Does it take longer in Africa than in Europe? Yes. Does it take longer than it did a few years ago, I’m not sure,” Cloke said, referencing Tullow Oil’s plans to sell down in Uganda. “You need to know your stakeholders and if you don’t listen to them that’s a problem. In Africa, you always have to be patient.” The executive went on to note ANPG’s “forward thinking” approach. “They’ve recognised the majors will be moving into deepwater and LNG. They want to encourage smaller players. It went from being quite a difficult place to, in the last two years, being much more positive.” Angola’s appeal is paying off. ANPG has reported that 10 drilling units were active during May, including five drillships.' |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
