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.
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.
Afentra is an independent Oil & Gas company focused on the African Energy Transition.
The Company has signed the following sale and purchase agreements for assets located offshore Angola, with completion forecasted to be around Q4 2022:
1. Sonangol Pesquisa e Produção S.A. (‘Sonangol’), Block 3/05 – 20% and Block 23 – 40%; and
2. INA – Industrija Nafte, d.d (‘INA’), Block 3/05 – 4% and Block 3/05A – 5.33% (Subject to final approval of the distribution of the CSI interest to the remaining joint venture partners).
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, Afentra (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 May 2024)* which included a minimum work obligation of 500km of 2D seismic. The minimum work obligation during the Fourth Period of the PSA (expiring May 2025)* 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 2024.
Information on the Company Directors can be found here
Share Capital can be found here
Financial reports can be found in the Investors section
RNS can be found in the Investors section
Company Documents can be found in the Investors section
Advisors can be found in the Advisors section
Can be found in the ‘Company Documents’ tab of the Investors section