Completion of the Sonangol working interest acquisition took 30 days following Government approval but, included the preparation of a Supplementary Admission Document.
We are now 21 days post receipt of Government approval for the Azule acquisition - so, could reasonably expect to receive notification of completion by the end of next week.
By which time Afentra will have accrued 20 months of production cash flow from the 1st October 2022 effective date of the deal, at an average Brent oil price of around $85/bbl, to offset from the headline price. |
Coiled spring before the next leg up? I hope so. Looking possible. Just needs the right catalyst. |
Wb - thanks for your health comments. Appreciated.
Good to hear the performance of Afentra and Petrotal has helped to mitigate the Sterling losses.
With respect to the fundamentals, both look well positioned to deliver further strong capital growth performances for shareholders and so, remain an important medium term
(2-3 years) hold for me.
AIMHO/DYOR |
MT I'm with you in Petrotal. I lost a lot on Sterling Resources and Sterling Energy, and ended up with a silly holding in Petrotal, to which I added in order to rollover the tax loss. I finally lost patience with Sterling Energy after years of waiting for Kroupeev to make a deal. Sterling Energy holders who hung on there will now have recovered some of their loss with the Afentra exit, but I had realised the loss on SEY and now a 100% profit on AET after a separate investment.
A references in one of your posts to Jersing, reminded me of Eskil Jersing who went from SEY to Wentworth Resources and evidently has become an independent consultant. Same fellow no doubt.
(Maurel & Prom, Afentra's partner in 3/05 and 3/05A took over Wentworth last year.)
Many thanks for your posts, especially with concern for your health. Stay well. |
Indeed Mount Teide, I am certainly fine to do the manual aspect, grew up on a farm so a work ethic was installed very early, never lost it. Now if AET would be kind enough to get to £2-£3 that would allow me to upgrade my tools lol ? |
eringael - 'off to finish digging out roots of palm trees, some guy quoted circa £4K to remove 12 from the garden, a small chainsaw and good spade has saved me £4K'
Man of my own heart!
When I saw the price to have double glazing fitted to our first house nearly 40 years ago, - 10 windows, 2 doors and 2 patio doors - compared to the supply of the units for self fitting, said to the manager of the local firm who provided the quotations, that I would buy the doors and windows from him supply only, if he let me observe one of his fitting teams for a day to learn the installation process.
He agreed - only needed a morning watching and talking to the installation team at work to pick up what I needed to know. Fitted the lot including new hardwood sub-frames in three days(with some lifting/offering up into place assistance from a friend). Those windows and doors are still in that house today. |
As far as I'm concerned, as long as the share price continues rising without the deal being 100% finalised, why not let it continue to rise. The last RNS said Q22024. I hope it's the last trading day of Q22024, once the share price continues to rise.
Afentra is an investment for me, not a punt. |
Thanks Mount Teide, you are a gent, apologies to the board for off topic - off to finish digging out roots of palm trees, some guy quoted circa £4K to remove 12 from the garden, a small chainsaw and good spade has saved me £4K , that £4K into AET will hopefully be £20k in circa 5 years - Enjoy the sun |
O/T - Eringael
Q1 Results were broadly in line with my expectation.
Erosion Control Project:
Groynes are a very effective method to reduce scour/erosion by redirecting the current away from the river bank.
On first inspection I too thought the estimated $65-$75 project cost was on the high side - however, after establishing from the latest presentation that the Erosion Impacted Area was around 700m long(twice the length of a 2.2m barrel VLCC supertanker), the project's estimated cost does not look unreasonable.
Unfortunately, not only has the river bank erosion been more extensive than the management had anticipated but, by leaving it so long before addressing the problem, the erosion has spread to a combined circa 350m of river bank beyond the end of the river frontage of the processing facility. |
Morning Mount Teide, what was your take on PTAL's Q1 results, that river bank must be a sizeable project to require up to 75 million |
I usually see AET mentioned most days on Twitter - guess it's down to who you follow. I know of at least 4 who posted today. I prefer it quiet lke this. Goes up at it's own pace instead being played by pump and dumpers. |
Completion of the Sonangol working interest acquisition took 30 days following Government approval but, included the preparation of a Supplementary Admission Document.
We are now 15 days post receipt of Government approval for the Azule acquisition - so, should reasonably expect to receive notification of completion during the next 1-2 weeks. |
Not just Advfn where Afentra is off the radar. On Twitter, most of my other O&G holdings - Valeura, Jadestone, Touchstone, Arrow and Petrotal - all average numerous daily posts, with the exception of the Afentra group which has 66 members and has not seen a post since 30th April! |
Probably better this way, keep it under the radar 😉 |
Got to admire Afentra shareholders for how they like to hide their light under a bushel.
Up over 4% today to another new break-out high generates just a single Advfn post during trading hours!
Suspect we would make good poker players. |
Breaking out into new territory.... |
Another good day....Pushing foward/upwards to new high's:) |
Kamala - Good to hear!
The management have performed very well for their shareholders, during what has been a highly challenging 2-3 years for the O&G small cap sector. |
Couple more pennies for me and i'l be in the 1 bagger club with you.:)Cheers:) |
Today, the stock became a 1 bagger for me - since building a holding, such has been the progress made by the management growing the business/strengthening the investment case - aided fortuitously, by some oil price and deal completion date good fortune - the investment 'value' currently on offer following government approval of AET's third working interest acquisition, is probably better than at any time I've been a holder.
AIMHO/DYOR |
TTB - Good to hear you've taken a position/see value at AET. |
That would make for some nice returns. :-)
I notice Angola is now visa-free for 30 days, it seems to be becoming more foreigner-friendly. |
welcome Taurus .... expecting a billion market cap here given time to reward the patient |
Joined the party early doors with some new ISA funds. :0) |
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