RE: READ THE RNS!!!!!!4 Sep 2025 14:40
CEO Paul McDade commented:"We are pleased to announce this Heads of Terms and excited to progress towards Operatorship of Block 3/24, which represents the next step in our strategy to build a material production business in Angola. We look forward to reviewing the most efficient development options for the numerous discoveries, utilising the extensive Block 3/05 infrastructure. This will provide upside potential to enhance the overall redevelopment plan for the Block 3/05 area where we expect to significantly increase production and reserves, delivering long-term value and cashflows. Furthermore, we see potential for future infrastructure led exploration given the prospectivity of the area.
We appreciate the trust invested in Afentra by the ANPG and our joint venture partners and we look forward to building on the successful collaborative working relationship with Block 3/05 Operator Sonangol to ensure we deliver the full potential of this multi-billion barrel area."