Afentra Share Discussion Threads

[billy two cocks] 10/8/2022 22:20

Massive one.

[petersmith6] 10/8/2022 20:53

What a pleasant surprise.. from 0.00 to 25..

[kevjones2] 10/8/2022 20:13

Thank you, everready1. Hope you got in early here but not too early!

P.S.

Tazerface10 Aug '22 - 19:29 - 261 of 261 (Filtered)

[everready1] 10/8/2022 19:10

sorry that post was for kev but appreciate your post too!

[everready1] 10/8/2022 19:09

brilliant post and reposte!

[everready1] 10/8/2022 19:08

brilliant post and reposte!

[sea7] 10/8/2022 19:04

If we complete in early October, we would need about $60mn of debt,” McDade explained.

“When we started, we said we wanted a material company. This is the first step of the journey. There’s a pipeline of opportunities out there – and we’re screening some as we speak,” McDade said.

[smackeraim] 10/8/2022 17:14

Doesn't seem there's much you like. Try getting some fresh air bud

[ashkv] 10/8/2022 17:08

Sorry if I am over the top - but detest his sort who don't disclose payments etc from the firms they cover - and it apparent that certain firms always getting positive coverage...

[ashkv] 10/8/2022 17:05

74tom - There was an error in that I added the equity cash back whereas I should have subtracted the same prior - I get a revised (And now accurate) Enterprise Value of $128 million at share price of 26p - for an EV / Barrel of $27,247 at 4700 bpd to AET
In your calcs you have not accounted for the cash equity outlay whereas I erroneously added the same to EV rather than subtracting from Cash

74tom calcs -
Debt financing = $66.5m / £54.3m

Cash at 31/12 = $37.7m / £30.8m

£56.6m + £54.3m - £30.8m = £80.1m

Nowhere near $165m!

ashkv Enterprise Value Calcs - page 9 of presentation in today's RNS ->

hxxps://afentraplc.com/wp-content/uploads/2022/08/Angolan-Acquisitions-Resumption-of-Trading.pdf

Debt per page 9 -> Transactions will be financed through cash on balance sheet
and up to $75 million1 committed debt facility with Trafigura

In addition, a working capital facility of up to $30 million will
be available to finance asset funding requirements between
crude offtakes

While the specific figure for the deal is US$62.1 million - I have blended the above two debt facilities - assuming some draw on the working capital facility for $75 million


Also Cash is not YE 2021 Cash but the same minus the $20.7 million put up as equity to pay for the Angolan acquisition (from the cash on AET balance sheet)

Therefore ones has mas market cap at 26p = GBP 57.23 million
In USD terms at GBPUSD 1.225 this equates to a dollar market cap of US$70,087,046

Enterprise Value = Market Cap + Debt - Cash
In USD terms Enterprise Value =
Market Cap ($70.09 million) + Debt ($75 million) - Cash (YE 2021 Cash - Amount paid out as equity for acquisition)($37.7 million - $20.7 million = $17 million)
= $128 million

[kevjones2] 10/8/2022 16:16

Congrats to older holders who may see some return. Well done to those of us that got in early last year. My intention was to sell immediately on re-listing but when the second deal was made it confirmed these guys are serious. McDade's buy this afternoon is the icing on the cake. I'm going to hold.

[wahlberg] 10/8/2022 16:05

I think from the presentation $20m of existing cash balance was used for the deal

[smackeraim] 10/8/2022 16:01

"At first blush my initial target price is pitched at 40p but once I get a further chance to assess the company in detail I may tinker with that on the upside. "Malcy

[smackeraim] 10/8/2022 15:57

https://www.malcysblog.com/2022/08/oil-price-afentra-kistos-serica-gran-tierra/

[74tom] 10/8/2022 15:36

ashkv, your EV calcs make no sense.

EV = market cap + debt - cash

Current Market Cap = £56.6m

Debt financing = $66.5m / £54.3m

Cash at 31/12 = $37.7m / £30.8m

£56.6m + £54.3m - £30.8m = £80.1m

Nowhere near $165m!

[wahlberg] 10/8/2022 15:32

Building now 26p

[spooky] 10/8/2022 14:50

Perhaps i should rephrase my question. What would the enterprise value need to be for you to find the valuation attractive?

[ashkv] 10/8/2022 14:40

At 25-26p I calculate the above at approx $128mn

[ashkv] 10/8/2022 14:39

Current Market Cap + Debt for Acquisition ($75mn) + Cash (YE 2021 figures - Cash paid as equity for Angola Deals) = Current Enterprise Value for Afrenta

[spooky] 10/8/2022 14:26

Nice buy from the CEO.