RE: ?12 Jan 2022 09:28
First of all. I agree, our hands are tied. We rely on Sonangol's diligence in getting things done. And giving the size and number of assets and bidders, my guess is that we will not know anything until February at least . The proposed timeline from Sonangol was way far from being realistic.
Re-admission price will depend on the deal (if any), of course. The asset (production or/and exploration) , the size of asset, at what cost, and the payment terms.
With a very good deal , SAVE share price has increased by 40% after readmission last week. AET best case scenario (blocks 3/05 + block 23) are no way close to the size of SAVE deal.
My only concern is that it seems that all the eggs are put in Sonangol basket, there has not been any other news, or rumors , or developments, about interest in other assets. That worries me. As it will be now 1 year since Afentra re-branding and now (with increasing oil prices) short term success of the Company depends on the outcome of the Sonangol bidding process. Afentra Board may feel pressure from stakeholders on closing any deal. I remember McDade commit to land a deal in 1 year, so I hope that does not lead to rush a bad deal.