Afentra Acquired Assets Worth $255m,With Only $37m Cash4 May 2024 00:00
Seeking Alpha post from Analyst Robert Whelan on news of the Government approval of the Azule Deal.
'Fantastic news this morning. Afentra have received the third government approval from the ministry of energy in Angola. This paves the way to completion of the final 12% of Block 3/05 and will add to the already completed 18%.
Production currently up from 18,100 2023 average to 23,100 bopd gross (30% or 7,000 net to Afentra ). 2023 estimated asset level cash flow to Afentra was $67.4 million so looks like 2024 will beat that easily. (better economic terms from 01 Jan 24 also).
Not bad for a company with a market capitalisation of £105 million!
Keep your eyes on this company folks'
Some may remember Robert publishing an incredibly well researched and balanced Seeking Alpha article back in December 2023 setting out the investment case for Afentra - its well worth a read for those that may have missed it, or for a refresh, as Robert knocked the ball out the park with the quality of his analysis.
Afentra Acquired Assets Worth $255m, With Only $37m Cash: Here's How:
https://seekingalpha.com/article/4657827-afentra-acquired-assets-worth-255m-with-only-37m-cash-heres-how