AIM Rule 26 Information

Overview

The information contained within section of this website is for the purposes of AiM Rule 26.

Afentra PLC is not listed on any other exchanges.

Business description

Afentra is an independent Oil & Gas company focused on the African Energy Transition.

Afentra has a current interest in a high potential exploration project, onshore southwestern Somaliland. The Odewayne Block covers a very large area (circa 22,000km²), located adjacent to the border with Ethiopia. The PSA covers block SL6 and part of blocks SL7 and SL10.

The Company’s wholly owned subsidiary, Sterling Energy (East Africa) Limited (‘SE(EA)L’) holds a 34% working interest, with our partners Genel Energy (50% and Operator) and Petrosoma Limited (16%). The Company is fully carried by Genel Energy for its share of all exploration costs during the Third and Fourth Periods of the PSA.

The PSA, awarded in 2005, is in the Third Period (expiring November 2020)* which included a minimum work obligation of 500km of 2D seismic. The minimum work obligation during the Fourth Period of the PSA (expiring May 2022)* is for 1,000km of 2D seismic and one exploration well. Extensive fieldwork and a high-resolution gravity and magnetic data acquisition programme have been completed.

The Government sponsored 2D seismic campaign of 1,000kms on the Odewayne Block was completed in August 2017. The campaign satisfied the minimum work obligation for the current third period.

* The Third Period expiry, as described in the 8th Amendment to the PSA, is currently extended by 2 years, as are all subsequent periods. Current expiry date of the Third Period is therefore May 2023.

Director details

Information on the Company Directors can be found here

Corporate governance

Information on the Company approach and principles can be found here
Matters reserved for the Board can be found here

Current constitutional documents

Investor publications can be found in our Investors section
Articles of Association can be found here
Memorandum of Association can be found here

The number of AIM Securities and transfer restrictions

Share Capital can be found here

Annual and other reports

Financial reports can be found in the Investors section

Company notifications for the last 12 months

RNS can be found in the Investors section

Admission document and shareholder updates

Company Documents can be found in the Investors section

Advisors

Advisors can be found in the Advisors section

Electronic communications Letter to Shareholders

Can be found in the ‘Company Documents’ tab of the Investors section