MrN, exactly right , we as country still use and need oil yet we put up barriers to get to local resources. |
Mount Teide . Many thanks for your informative comments here . Last year the share price dropped from about 39.25p to 35.2p ( 10.2% drop ) , which is slightly less than the current drop from about 59p to about 52p ( 11% ) . I did well in previous years with small North Sea producers such as Nautical Petroleum and Dana but , with taxes at 75% there ( under the Tories ! ) , it’s baffling why anyone bothers to invest there now . Venezuela was once prosperous , but look at it now ! Happy to have my money in Angola , where the oil industry is wanted and appreciated . |
Every dollar makes a massive impact to cashflow |
 You get a helluva lot for your money when buying large mid life O&G assets in Angola with a backdated effective economic date in a rising oil price environment!
UK - Rosebank Field - First Oil expected 2026 - (Gross Figures)
336m - P2 Reserves
69,000 bopd - Estimated Peak Production
$8.2 bn - Project Cost (Source: Energy Voice)
Equinor has a $1.5bn price tag for a farm out of 20% of the asset - the buyer would then have a further outlay of over US$2 billion before first oil.
At least a 75% UK tax rate until 2029.
Angola - Block 3/05 + 3/05A (Gross Figures)
Block Licence End Date: December 2040
108m bbls - 3/05 - P2 Reserves
43m bbls - 3/05 - 2C Resources
62m bbls - 3/05A - 2C Resources
23,000 bopd - Current production
40,000 bopd - 2028 production target
3.5bn bbls - STOIIP 3/05 + 3/05A
1.3bn bbls - Produced from 3/05 to date / 42% recovery rate (target >50%/+250m bbls)
2.5m bbls - Produced from 3/05A to date / 1% recovery rate(target > 30%/+90m bbls)
Afentra will have likely paid a net circa $9.7m (after sale of oil inventory but before modest outstanding contingencies) for 30% of Block 3/05 and 21.33% of Block 3/05A.
3/05 - Updated Fiscal Terms from 1/1/2024 improve contractors’ cost oil limit from 65% to 75%, and the contractors’ profit oil share from 30% to 40%. As a result Afentra's net NPV at a 10% discount rate increased from US$214.5 MM to US$254.9 MM.
3/05A - Fiscal Terms for Marginal Field |
yes a little bit of a mystery fatfish but largely irrelevant to progress |
Where the successful execution of a management's low cost growth strategy continues to strengthen the investment case of a stock(as with AET) - it points to pullbacks as the optimum time to buy(as there is usually decent liquidity generated by momentum traders locking in profit), rather than potentially chasing the price up for often small volume, when the shareprice resumes moving north.
The chart from last September highlights well the ten opportunities that have since occurred, when it was possible to buy on a pullback, that each had a bottom at or above the 50 DMA.
The RSI is currently at its lowest point since September 2023, while the share price is sitting on the 50 DMA - a chart buy signal if ever there was one for investors like me that like to average up as the investment case strengthens. The strategy has delivered well here to date - I've averaged up 5 times in the 20's, 30's and 40's,
AIMHO/DYOR |
At this moment it would appear, Not.
The DOW might differ, we will see. |
It should capture investors who don't know the story or Afentra |
Well, the story really doesn't tell you anything you didn't already know.
Where did you expect the share price to go. ?? |
Midas is touchy. :0) |
Give it until end of this week... the daily mail readers also hesitate for the same reasons |
It's give you a chance to make your planned top up. Easier than you think ... eh? |
barely moved first thing... unusual to say the least |
After a paper tip boost the share price takes a breather at some point and falls back .. probably the best time. On AIM it normally retraces a mininum of 50% of the initial increase.
So for example if we get 10% today / this week, next week the share price will be 5% cheaper.
but WTFDIK, if I was that good I'd be on my private Island by now.
ODR |
iwas hoping to top up this week at these prices . Wont be so easy now |
Well that's usually a guaranteed +10% in t'morn - |
Tipped in the Mail hTTps://www.thisismoney.co.uk/money/mailplus/article-13582805/MIDAS-SHARE-TIPS-UPDATE-Afentra-taking-charge-Angolan-oil.html |
Very quiet here - would appreciate an AGM update. Cheers |
Angola O&G regulator planning new legislation, in addition to further contract and fiscal incentives to encourage the reactivation of production and drive operational efficiency in assets previously suspended due to low oil prices.
Angolan O&G Industry - International Trade Administration - 01 Feb 2024
Downstream Operations:
'Marginal Projects: Many oil and gas activities in development areas were suspended when deemed not economically viable. The Government’s intent is to encourage the reactivation of these activities within development areas.
Legislation will enhance the oil and gas business environment, providing new guidance on oil and gas operations and processes that include streamlining of work programs.
The Government also plans to implement contract and fiscal incentives that will promote operational efficiency in mature and marginal fields.' |
albert filtered
why do they clutter perfectly good boards |
Another week or two below 55p and it'll be time to top up. :0) |
albert35911,
Go away and do one.
Thanks
BTC |
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