Member Info for rifteastafrica

When it was just myself here, day after day. Talking about cash position and deal.

Plenty back here when next deal comes!

There's definitely a new buyer in and around 47 to 48 pence !

Another decent day of consolidation. Whoever is buying is getting a gift of a price , IMHO

Last few days noticed a pick up in price and volume. Nice

AT 3 minutes 20 here the Saint says breakout very possible and it has consolidated well here. The cash flows at $75 a barrel are circa $50 million for asset level cash flow. Our lifts this year to date have been circa $84 average and whats not to like? I love this share and accumulating more slowly while i can

https://x.com/TheSaintCharts/status/1837426695130775876

Santorini, there are two types generally of oil regimen

1 / Tax and Royalty

2 / Production Sharing contract

and sometimes a hybrid of the two.

Afentra's tax depends on the Cost CAPEX pool, and at the current level of investment into LWIs (light well interventions) and the cost CAPEX pool balance, the "effective rate of tax " as mentioned on the Youtube interview with Momentum Financial , is 20%...........Given the pool balance and continued CAPEX investment you can keep it there at that level.

Tax is paid in Angola primarily through working through the Cost CAPEX Pool allowances and at the moment, the government "TAKE" of Afentra's net production is 15% of barrels produced which gets you down to the third last line of slide 29 below (the one showing 85%)

https://afentraplc.com/wp-content/uploads/2024/06/2024.06.11-Afentra-Webinar-June-final-version.pdf

After that, there's a small slice of normal tax of 50% of 10% contractor Group profit Share which ends up being only 5% of our barrels.

All in all slide 29 shows, that at the current rate of investment, we are keeping 80% and the government "TAKE" or "Effective rate of Tax" is 20%

Its a strong BUY from here IMHO as all lifts are done now at an average of about $82 (April, June and August) and we just fill the stock tank (we're not selling until the lift) now until our last lift of the year which is around December / January

Bought a few over last few days. Looking forward to the Ops report H1

Another deal could land at any time here. The move to NET CASH happens in September sometime.

But the chance of another acquisition is compelling....and the 30%+ FCF yield :-)

The upcoming lift is 790k b for Afentra.

Tax comes off in the form of production take mostly. So the circa $64 million we can expect on receipt of the lifting is after tax! because you're selling your net barrels accumulated AFTER production take !

Watch how it unfolds!

Slide 29 presentation

Cost Oil 75% production plus 5% (25% profit oil x 40% contractor share of it x 50% Petroleum Income Tax (PIT)) = 80%

About to Net Cash Positive to the tune of about $35 million on receipt of the lifting proceeds of about $$64 million!

They're set to go net cash positive over debt and its a poor market reaction. Market needs some other news!

Yes don't miss out here peeps. Share of a lifetime. Still quite close to cash value, 7000 bopd

Every time i put a bloody order on the bid goes higher

Not hanging around on the Bid with an order

20%

Very happy with that interview and the prospects here. McDade also said in the interview that at that point (a few weeks ago there were 3/4 different teams of Afentra personnel in country for various assignments!

Hi no it wasnt completed at that stage.

VERY VERY HAPPY SHAREHOLDER HERE! ONWARDS AND UPWARDS AND IN FOR THE NEXT FEW DEALS!!!!!

BEST TEAM ON AIM

Brent at $85 is very encouraging for the next lifting especially since Palanca commands a premium

Production low hanging fruit with Light Well Interventions

They're not going to rush the payment of the Debt Facility back, building cash instead

600-800 k lifting to do in August - Brent $82.73 plus Palanca $1/$2 premium

Q3 Shut Down only 3 weeks long!

More Deals being assessed

Donmac don't miss the boat :-)

GET BACK IN QUICK :-)