Afentra Share Discussion Threads

[mount teide] 13/6/2023 16:23

Says a lot about Afentra and the aspirations of the management team, that they have been able to attract such an impressive individual to the Board.

[yousif] 13/6/2023 09:36

Good RNS
This appointment would help AET with expansion in Africa.

[mount teide] 10/6/2023 18:35

Considering the issues Jadestone Energy has experienced with the FPSO at their Montara Field, as a shipping professional, one of the first things I checked when carrying out research on Afentra, was the history of the 3/05 Block's FSO: Palanca.

What I found was very reassuring.



Angolan block 3/05 - FSO Palanca

FSO Palanca was towed 7,200 miles to the Sembawang Shipyard at Singapore in late 2012 to undergo dry docking/Special Survey. And to carry out a major programme of structural inspections, repairs, maintenance and upgrades to extend the commercial life of the ship by up to a further 20 years - 2032 is the current commercial life expectancy of the field.

The programme of work included:

* Renewal of the entire cargo pipeline system and cargo pumps.

* Hull cleaned, inspected, shot blasted, primed and coated. All damaged hull plating replaced.

* All cargo and ballast tanks cleaned, inspected, shot blasted, primed and coated

* Electrical systems - Renewal of all cabling.

* Accommodation enlarged from 30 to 60 people to carry more maintenance staff.

Estimated cost: $35-$40m


Some photos taken in April 2013, of Palanca after spending 4 months at the yard, immediately prior to departure for Angola.

[mount teide] 10/6/2023 18:18

During the last Oil/Commodity supercycle in the noughties, Paul McDade took Tullow from a valuation of 32p to 1,304p - a 40 bagger by primarily focusing on opportunities arising from the exit of the majors and NOC's from maturing assets.

It was a low risk growth strategy based on these maturing assets becoming marginal when competing for CAPEX funds of large O&G companies. The companies weren’t allocating production development capital for the assets and the same is again happening across many of the maturing O&G basins of West Africa and APAC today.

McDade plans to repeat the MO with Afentra by acquiring mature producing assets in large oil fields, most of which have been starved of investment since the oil price collapse of 2014. There are many opportunities becoming available, which like the current acquisition have huge infill well potential/re-investment opportunities, to materially extend the commercial life of these large under-developed assets way beyond the current predicated life.

With a primary focus on material production, and an experienced team with a high level operating capability used to working in the O&G basins of Africa, the company offers an excellent early stage opportunity to get in close to the ground floor for a similar run during this new oil/commodity super-cycle - just the third since 1970's.

Declaration - have continued to add to a 7 figure position built up last year, which I expect to hold for 3-5 years.

The journey has the potential to be as much fun and rewarding as in the noughties, since it will not only have the rising tide of a new oil/commodity super-cycle supporting it, but a strong tail wind too, from the impact of Majors/NOC's exiting high quality, large mature assets, as they increasingly move their capex dollars into major new offshore O&G projects and renewable energy projects; and Government's materially improving their O&G fiscal terms to attract investment to avoid being left with stranded assets. Nearly half of Angola's 300+ O&G discoveries are still to be developed.

AIMHO/DYOR

[jungmana] 09/6/2023 12:14

A good write up here in the daily mail midas column;

[jungmana] 09/6/2023 12:03

MT , Angolan government has basically laid the red carpet to foreign investors in its onshore oil and gas industry . Aet imo should just focus there with more acquisition and development of fields which majors are exiting. Hope the deal concludes soon and onto a third one with the $35 million available

[mount teide] 09/6/2023 11:49

Jung - Exactly; this is why Angola has been leading the way in making their fiscal terms more attractive to foreign O&G investors........to steal a march on access to the investment funds of a now much more discerning O&G sector - in the independent O&G sector investment has fallen by circa 60% since 2014, and only recently started a very tepid recovery.

[jungmana] 09/6/2023 11:12

Without foreign investment this could happen in Angola some years down the line. The government is keen on attracting investment from small players like aet as majors exit for large offshore developments.hTTps://oilprice.com/Latest-Energy-News/World-News/OPECs-Smallest-Producer-Sees-Crude-Oil-Exports-Drop-To-Zero.html

[jungmana] 09/6/2023 10:29

Patience here will pay off big time in 12 months from now imo.Aet and axl have about 50% of my cash invested and building a position in jse from yesterday

[herman_m] 09/6/2023 09:00

Not long to wait until AGM on 20th. Fingers crossed they will present some positive then.

[hubs] 09/6/2023 08:14

Not such a good week...wobbly holders? gla.

[1senn] 02/6/2023 15:21

Multiples of 60p MT

That would be very nice

ATB

[mount teide] 02/6/2023 13:58

1s - a few short term traders maybe - some well researched long term investors see the potential for multiples of that over a 3-5 year investment view assuming Brent averages $75/bbl.

[1senn] 02/6/2023 13:16

Poor show

Many on here predicting 60p on completion. Can't see the market cap doubling what's the justification for that??

ATB

[jungmana] 02/6/2023 12:05

Opportunity for a good top here. Oil going back up and we are heading the other way. hope the deal completes by the 30th June

[captain james t kirk] 31/5/2023 16:46

Off topic.

I didn't read the petition because I'm not interested but I'm afraid that hubs's post cannot go unanswered.
The UK has a long and distinguished record of helping those in genuine need and long may it continue, both here and abroad.
However, accepting low skilled migrants by the million,in an uncontrolled manner, with little or no benefit to the country, might be charitable to the migrants but it certainly isn't compassionate to the poorest in society already resident on these shores.The folk who cannot get a doctor or hospital appointment, can't get their kids into local schools, can't get decent housing at an affordable price and live in areas increasingly affected by crime.
You maybe haven't noticed but the reason big business promotes the policy of importing these people, who largely have a negative effect on the exchequer, is because they provide cheap labour and increase their market size, through their sheer numbers.
However, they do nothing to improve our GDP per capita, with our productivity levels already languishing some 20% below that of our competitors and this before AI and robotics really clicks in. What do we do with them then ?
As one of the most densely populated countries in Europe, from a quality of life point of view and with a debt of £2.5 trillion, we simply cannot afford this largesse.
It poses the simple question, where does it end ?

ps Apologies for the Afentra out of market hours off topic.

[linz22] 31/5/2023 15:52

Displacement and disposession, coming to a neighbourhood like yours, pdq.
By your very own volition, it seems!

Now, let's get back to Afentra, please...

[hubs] 31/5/2023 13:34

A definite Crank. I'm proud of our rich, multi-cultural society and we need to welcome with open arms those who have been persecuted and down trodden, whether through years of colonialism or crackpot dictators. Anyone who gives up a life and home, and journeys thousands of miles in search of something better, deserves compassion.

[crankylad] 29/5/2023 09:40

Cut immigration, petition.

[onedayrodders] 29/5/2023 09:31

He was under 3% but not necessarily finished.

In any case, the chart and news going the right way.

[1senn] 29/5/2023 02:55

That was then

He has finished do what gives now st 27p

ATB

[onedayrodders] 28/5/2023 15:30

Were you not following the story of the forced seller "Richard Griffiths" offloading millions of shares through March ? .. check out the major notification of holdings in March ... that's what took the share price from 28 to 21.

Mr Griffiths was a leveraged holder of another stock that nosedived and had to raise cash at short notice.

In addition it's a very poor market sentiment overall ... but for those with with patience, the cream always rises to the top.

ODR

[1senn] 26/5/2023 22:22

Yes all good

But why have we got s share price of 27p

Was almost 34p and that's before the deal completed .

Should be neater 47p than 27p surely

[mount teide] 24/5/2023 23:00

Pleased to read this statement in the Company Presentation made at the Frontier Africa Energies Summit, London - 17 May 2023

'Afentra has ambitions to build a material portfolio of assets in Angola building
upon the initial acquisition of Block 3/05'

Angola is an OPEC country and considered one of the largest African O&G producers. It's Upstream Market Leaders are:

* ExxonMobil
* TotalEnergies
* Eni
* BP
* Chevron

The Angolan offshore segment is expected to experience significant growth over this decade, led by these companies. Some of which are currently divesting mature Angolan assets to focus on large yet to be developed discoveries offshore, which have high potential.

[x54v] 22/5/2023 15:51

"Exciting times ahead

As we enter our third year as Afentra, we are very satisfied with the progress we have delivered. Our first year was about defining the strategy and identifying our first deals, and the second year was about putting in the building blocks to deliver that strategy and execute value accretive transactions. This current year will be truly transformative for the Company as we complete the Angolan deals and set about working closely with our partners to deliver mutually beneficial outcomes for all the stakeholders.

In parallel with the work we will be doing in Angola, we will continue to screen compelling opportunities in line with our strategy. We believe the efforts to establish Afentra as a credible counterparty of choice have been successful and we have built up the internal resources and capabilities to ensure we can deliver the next wave of growth in tandem with our new operational focus in Angola. We are excited about the opportunities that lie ahead in Angola, and will be active in other core target markets if we find opportunities that deliver the criteria we seek in terms of creating value and delivering positive outcomes for all stakeholders."