Afentra Share Discussion Threads

[pol123] 27/5/2022 17:17

Angola

I like these bits

“I don’t think we’re going to wait six months” for the Angola deal to close, he said. “We’re screening the whole of West Africa.”


“We’ve been speaking to both equity and credit for the last 12 months and it’s our deep conviction that, for the right project there will be financing. But they will need to meet criteria that, even five years ago, was not important.”

While the company will not move into the deepwater, there are plenty of other assets to consider.

“It’s about looking at the capex profile, around the shallow water and the onshore. Angola is the first deal through. We felt when we set up Afentra last year that there was a wave coming of divestments from the majors. That’s happening. There’s plenty of opportunities – it’s about getting the right opportunity.”

[kevjones2] 27/5/2022 15:32

Money is not even remotely a problem. AET are already looking to invest in other projects.

[stockhunters] 27/5/2022 08:59

kev aqusition was effective from April

[kevjones2] 27/5/2022 08:42

excellance, AET already have around $50,000,000 (£40,000,000) and the RNS said loan discussions are well under way which is not surprising given there's instant revenue. So, AET will either pay back the loan from revenue or do a share placing. Some would argue a share placing might be better. Personally, I'd prefer to be able to pay debts from revenue. Either way it will not be too punitive. The other thing is that it's hoped/expected revenues will increase with more production. I'd also keep an eye on Odewayne which is probably still a few years away but could be a huge earner.

AET is very comfortable right now.

[excellance] 26/5/2022 13:20

Yes, the American response to Russia's Ukrainian jolly has turned the oil industry upside down. Turning their backs on cheap Russian oil and gas, but not nickel or copper, certainly boosts oil prices and big US oil corporations, and makes green projects look more viable.

Will be interesting to see the equity components of project finance here, I can't believe there won't be any.

$80m up front plus $50m for each of the first ten years, is a lot of cash...

[stockhunters] 26/5/2022 13:08

Sensible Kev

[kevjones2] 26/5/2022 12:14

Just listened to the AGM. I don't ramp shares. In fact, if you look at my posts you'll see I despise rampers. They create unrealistic and unachievable targets which result in moaning and groaning all over boards like these. They actually negatively impact on share prices in the mid to long term.

That said, and in total honesty as usual, I have never been as excited about a company as AET. My intention was to buy, and then sell when their first investment was made and the share price jumps on re-listing. I'm now considering selling only half on the inevitable re-listing jump/spike because this company is going places. Serious places.

That's about as much positivity I can stomach from myself!

[stockhunters] 23/5/2022 10:53

lol otemple exactly

[otemple3] 19/5/2022 22:18

Have you read any of the info / watched the presentation......

[excellance] 19/5/2022 22:04

NAA, they'll issue millions of shares to fund the deal, existing holders will get a few percent only.

[billy two cocks] 19/5/2022 21:49

Big question is.......at what price will these resume trading at?

My gut is telling me........ significantly higher than 14.5p lol.

[stockhunters] 18/5/2022 17:45

i guess someone transferred shares

[spooky] 18/5/2022 16:38

500,000 shares traded at 14.55, don't know how but wish someone had offered them to me.

[sea7] 28/4/2022 19:48

Malcys view



This looks like a cracking deal by Paul McDade and team with the entry into Angola at a cost of some $4/bbl and break-even at some $35/bbl. This looks like it pays back in less than three years at $75 oil as a material shallow water production asset and yet the accretive deal also brings with it potential significant exploration upside.

Expect the documentation to be published by June/July so one can expect a resumption in dealing in the shares shortly after that. This is going to be one to watch, no doubt. I am hoping to catch up with Paul McDade next week but the webcast was very positive indeed, watch this space.

[stockhunters] 28/4/2022 11:46

Presentation £40million FCF at $100

[dragon35] 28/4/2022 09:52

Quick calcs at $35 cost and $100 oil show approx GBP50m p/a FCF and on a p/e of 2 (very conservative) then it's minimum 100m mcap. Reminds me of RRE at a similar stage before it went from 1.50 to 24 over a 3 year period!

[1jonnyk] 28/4/2022 09:20

In case there's any confusion, I've been in touch with their comms firm Buchanan and the webcast is at 10:00am. They have updated the link too:

hxxps://webcasting.buchanan.uk.com/broadcast/625eab44841dd838fd0be737

[stockhunters] 28/4/2022 08:19

Yes Kev what a result! they beat many other big companies over the finish line and they had to contend with a $40 rise in oil to get the deal aswell

[septimus quaid] 28/4/2022 08:18

There seems to be some confusion over the start time, this is the reply you get when you register:

EVENT DETAILS
Event:
AFENTRA
Date:
Thursday, April 28th 2022
Time:
9:30 am

[kevjones2] 28/4/2022 07:59

Wow. What a deal. I wonder when it will be re-admitted. Maybe we'll find out more at 10am. Still, a longer way to go than expected but still very quick considering the boys announced their plans only in May 2021.

"The next steps will be to complete our due diligence process and to conclude our discussions on the debt facility to fund the acquisition, with a view to completing the transaction in the third quarter of 2022."

[septimus quaid] 28/4/2022 07:31

Update re apparent success of Angolan E&P acquisition issued via todays's RNS. Subject to registration, live audiocast can be accessed via the following link:



Today @ 09.30

[excellance] 28/4/2022 07:30

And now we have a business, for $130m