8th Dec 2023 14:29
Afentra PLC - upstream oil and gas company focused on acquiring mature production and development assets in Africa - Completes acquisition, constituting a reverse takeover, of a 14% non-operating interest in Block 3/05 and a 40% non-operating interest in Block 23, offshore Angola. Buy increases Afentra's interest in Block 3/05 to 18%. This will increase to 30% once Afentra completes its acquisition of further non-operated interests in Block 3/05 and Block 3/05A, offshore Angola, from Azule Energy Angola Production BV. Expects completion in first quarter of 2024. Says gross production from 3/05 averaged 20,560 barrels of oil per day in November 2023, with annual guidance for 2023 set at around 19,100 barrels. Says payable cash consideration totals USD21.1 million.
Current stock price: 33.95 pence, up 8.1% in London on Friday afternoon
12-month change: 30%
By Emma Curzon, Alliance News reporter
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