Afentra Share Discussion Threads

[excellance] 23/11/2022 18:30

I think 30.50 is just the "bid" offered by the mm, the spread was about 30.50/31.20 towards close, but loads of automated trades near and after close to mash things up a bit.

[mount teide] 23/11/2022 16:45

Closing auction manipulated down to 30.5p to facilitate a strong start tomorrow.

[x54v] 23/11/2022 16:22

Nice BBD. Best of luck with them.

[mount teide] 23/11/2022 16:13

L2: sole MM on 31p moved up literally seconds before they would have been taken out with that collective 250k machine gun hit on the OFFER that followed.

[devonlad] 23/11/2022 16:08

BBD - nice!

[mount teide] 23/11/2022 16:05

3.15 million shares traded today - always encouraging to see a rising share price backed by good transaction volume.

BBD - timing looks good if today's buying pressure is a reliable guide.

[bigbigdave] 23/11/2022 15:49

The 120k and 3 x 100k were mine x54v

[devonlad] 23/11/2022 15:45

Still a block seller but it is going to be pretty odd if the boss is presenting next week and the deal is not completed, fully expecting it to be next week to be honest.

[x54v] 23/11/2022 15:37

The strongest volume in a while with a number of chunky trades throughout the day: 200k, 120k and 3 x 100k.

News incoming perhaps.

[mount teide] 23/11/2022 15:10

L2: some heavy Auto trades hitting the OFFER around 30.5p is encouraging.

As is MM's moving up closer to the top of the BID.

[mount teide] 23/11/2022 11:57

Timing looks good upwego.

Plan to hold these for 3-5 years......the management are very conscious the Angolan acquisition has serious re-investment potential, since it's hardly been developed at all since 2014.

Would expect similar size deals to be announced fairly quickly following completion of this deal. Plus, the final payment for the Angolan deal is likely to have a very large downward adjustment to the headline price from the cash accrued to AET from the effective date of the deal.

[mount teide] 23/11/2022 11:48

Yes, MM's are acting like they don't want to be anywhere near the OFFER price - best MM currently is at 30.8p.

Someone has gone fishing by placing 210k on the BID at 28p - vainly hoping that train will reverse back into the station to pick him up.....good luck with that!

[excellance] 23/11/2022 09:50

The jungle drums say news is due imminently.

[devonlad] 23/11/2022 09:26

You would have thought that the deal gets signed during the Angola Oil & Gas (AOG) conference and exhibition from November 29 to December 1. Given comments in other articles, I am half ecxpecting another deal to be inked as well.

[upwego] 22/11/2022 22:06

Took a Chunk of these today - Good to see you Zen and MT

Look like news soon!

[mount teide] 15/11/2022 15:18

Zen - Thanks for AI report - yes, it would be a very welcome early Christmas present......one hopefully of many, considering the major news expected at SAVE, JSE, AXL, SOUC and TXP before year end, to name a few.

AIMHO/DYOR

[zengas] 15/11/2022 15:06

I added yesterday and today. Would think from reading this that the deals will be concluded soon given there's a push to attract more buyers for the number of assets on offer.

'Sonangol struggles to find takers for its mega sell-off over a year on

When it launched its divestment programme last year, the national oil company was hoping to withdraw, at least in part, from eight blocks. Nearly 18 months later, there has been no interest at all for two of these.

The state-owned Sonangol is far from concluding its total or partial withdrawal from most of its offshore blocks that it began in June 2021. It has found buyers for a large portion of these: in May, juniors Somoil and Sirius Petroleum signed a binding sale and purchase agreement on blocks 18 (8.5%), 27 (25%) and 31 (10%), while Afentra did the same for 20% of block 3/05 and 40% of block 23 in April (AI, 30/05/22).

Sungara Energies, a joint venture between the Namibian state-owned company Namcor, British firm Sequa Petroleum and consultancy Petrolog, is keen on 10% of 15/06 (AI, 20/04/22) and 35% of block 27. The sale cannot be completed until the authorities validate these transactions, which it is expected to do before the year is out, and the buyers have paid in full. Sonangol will remain a shareholder in all these blocks.
 
Still up for grabs
The national oil firm is currently focused on drumming up interest for two offshore blocks that have not found a buyer: 4/05 in the Congo Basin and 5/06 in the Kwanza Basin. Wanting to sell these as soon as possible, it presented them at the Africa Energy Week in Cape Town last month.

Operated by Sonangol subsidiary SNL P&P (50%), 4/05 also has three Angolan shareholders: juniors Prodoil (12.5%), Somoil (18.75%) and Acrep (18.75%). Sonangol is still looking for a partner to sell 20% of its shareholdings. Sonangol P&P is the sole shareholder and operator of 5/06, of which it would like to sell up to 65%. '

(AI yesterday)

[devonlad] 15/11/2022 12:39

News surely imminent now, had a top up this morning, timed it right for once!

[mount teide] 15/11/2022 12:35

L2: looking very strong here today - Bots have been controlling the action from the opening bell.

Bots have 280k on the Bid side of the book inside the top MM and, just 58k on the Offer side inside the top MM.

[jungmana] 10/11/2022 14:40

More acquisition should follow from West Africa, top class management is a big tick for me

[jungmana] 10/11/2022 14:34

Production of about 4.5kbopd , fcf average after capex of $35m pa for 5 years with Brent @$75 .Deal effective since March/April this year and you think should not be worth at least GBP 100m market cap especially with Brent over $90 right now.This is just the start. Buy and hold for 2+ years and should be handsomely rewarding

[excellance] 08/11/2022 14:51

Personally I hope we avoid any crazy debt, with interest rates rising and recession sure to hit after Xmas.

Oil companies will be taking in the cash now, but next spring will be a different story.

[excellance] 08/11/2022 13:50

Our mkt cap is £60m at 27.50p so 50p would be a mkt cap of £120m.

I will be amazed if we have no debt in the deal.