Afentra Share Discussion Threads

[fatfish] 23/5/2024 07:14

That is indeed good news, I wonder where the share price will go today!!

[croasdalelfc] 23/5/2024 07:06

Boom! And tanker expected on Palanca for 1st June Amli Voyager.~$68m revenue

[onedayrodders] 22/5/2024 12:42

SP taking a well deserved breather

[madhouse1] 21/5/2024 16:29

are my sterling energy share worth anything

[madhouse1] 21/5/2024 16:26

are my stirling energy shares worth anything

[onedayrodders] 21/5/2024 12:25

56p paid for 155k today

[onedayrodders] 20/5/2024 13:03

Yep the other day it became a bagger for me … now up a further 10% but it’s only just beginning here IMHO

[taurusthebear] 20/5/2024 12:58

I wish all my holdings would rise 5-6 per cent every week. :-)

[mount teide] 17/5/2024 16:24

Angola's new Incremental Production Project providing incentives to O&G companies to produce additional volumes bears early fruit, as Block 15 partners, Exxon, Azule and Sonangol make a new offshore oil discovery.


ExxonMobil(Azule Energy and Sonagol) hits oil offshore Angola and takes steps to search for more hydrocarbons - Offshore Energy - May 15th

'U.S.-headquartered energy giant ExxonMobil has not only made a new oil discovery in Block 15 off the coast of Angola but also inked a letter of agreement for the recovery of additional research costs with the country’s National Oil, Gas and Biofuels Agency (ANPG).

This move is expected to pave the way for more exploration drilling, safeguarding cost recovery within the scope of the incremental production project.

Located at a water depth of 1,200 meters, the Likembe-01 well in the Kizomba B development area in Block 15 is operated by ExxonMobil in partnership with Azule Energy, Equinor, and Sonangol. This well, which enabled the U.S. energy heavyweight to strike black gold, was drilled between February and April 2024. The well has crossed reservoirs of Miocene age and reached a final depth of 3,013 meters, within the perimeter of the Kizomba B development area.

According to ANPG, Likembe-01 is the first well drilled within the scope of the preliminary agreements of the incremental production project, aiming to provide incentives to investors to produce additional volumes in concessions currently in production, such as fundamental strategy for the sustainable development of the Angolan oil sector.

Under the supervision of the Ministry of Mineral Resources, Oil and Gas (MIREMPET), ANPG has been working towards obtaining approval of the incremental production project in line with development objectives of sustainability and improvement of operational efficiency in the petroleum sector.

As a result, the National Oil, Gas and Biofuels Agency, through Paulino Jerónimo, President of the ANPG’s Board of Directors, signed a letter of agreement with Katrina Fisher, ExxonMobil’s General Director, on May 7 in Luanda to encourage investors to drill more exploration wells. The ceremony was witnessed by ANPG Executive Directors, Alcides Andrade, Nicola Mvuayi, and Ana Miala, among other managers and sector experts.

The incremental production project aims to maximize the recovery of hydrocarbons in the oil concessions in production within the maritime zone of Angola, which involves adding new oil and expanding the economic attractiveness of new projects in mature fields and areas not yet developed.

Therefore, further hydrocarbon exploration activities in Block 15 are said to contribute to mitigating the sharp decline in production, ensuring the identification of additional resources that are commercially and economically viable in the light of the current production sharing agreement.

Recently, ExxonMobil exercised a six-month-priced option for the Valaris DS-9 drillship in Angola. The work scope that covers this extension is scheduled to begin in January 2025 in direct continuation of the existing firm program. However, two more six-month options remain on the table.

The announcement about the discovery in Angola comes months after ExxonMobil made another oil discovery at the Stabroek block, using a drillship owned by Stena Drilling.'

[mount teide] 16/5/2024 16:23

Last two days has seen the highest daily transaction volumes this month, and close to the best few days to date this year.

'Anticipation' of the imminent completion of the Azule deal?

[onedayrodders] 16/5/2024 15:52

53.2p Paid for 100k

[tim000] 16/5/2024 13:26

ODR: well played sir!

[1hercule] 16/5/2024 13:24

breaking out

[mount teide] 15/5/2024 16:49

Yes, closing auction at the full 51.6p ASK price.

[onedayrodders] 15/5/2024 16:31

nice move into the close

:o)

[mount teide] 15/5/2024 10:55

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.

[lauders] 15/5/2024 08:28

Coiled spring before the next leg up? I hope so. Looking possible. Just needs the right catalyst.

[mount teide] 13/5/2024 18:01

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

[wbodger] 13/5/2024 17:34

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.