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Imagine thinking you're ahead of the game selling at 30.6, then realising you sold to the Chairman of the company!
Rockrose was very similar and Andrew Austin didn't delay in sending dividends back even whilst he added more bolt on acquisitions on!
No apologies, just the Legal Post by Open Legal mentioing Block 23 but it was actually approved last week as per Afentra RNS (part of the Sonagol 3/05 deal)
Another Sonagol stake approved this morning it seems
I still have orders at 29.5 they have not gone through
Government approval for the ENI owned JV Azule, should come pretty soon? 12%. Almost as big as the Sonagol Deal. better cost recovery. And they received a nice 12 month lifting in September at around $88
Nice Director buy there in Afentra. Wilson is connected to Afentra's largest Shareholder, Askar Alshinbayev (21.86%) through his running of Askar Alshinbayev controlled Meridian Capital
total of 150,000 ordinary shares of £0.10 each in the Company ("Ordinary Shares"), at a price of 29.99 pence per share.
Tennyson last night 75P good news but even they took their oil price for 2024 down to 79 i think. Way off the mark
Looking forward to Azule news
Afentra has risen by around 10% this morning but in my view remains one of the most attractive stocks in the sector. These transformative deals when completed will massively boost the value of the company something that has already happened as during the wait for approvals the production and the fiscal terms have only got better.
The best is without doubt yet to come from Afentra and with more activity on the acquisition front I am happy to have a conservative Target Price of 100p on the shares.
2022 was average $100 Brent Price - Thanks !
2023 YTD Average $83!
Combined Average about $90!
These assets went on Bid Round Sale at $67
Plenty of large funds and investors would be starting to SNIFF around here now like vultures, with the main risk of Government consents on the main deal, overcome.
Don't give your hard earned shares away to THEM cheaply
For Afentra as income investors will begin to look at the reserves and cash flow
Almost two full years of effective date barrels at average of easily over $85 in the bag already, assmuing they complete
Oil will bounce , easy. $75 = $50m FCF per anum which is huge
$50 million Free Cash Flow ....at $75 Oil!
Good idea will do so myself tomorrow :-)
There's a big buyer operating today hoovering up anything that gets offered
This could be the week. No signs it won't happen
Someone pinging on the ask in the afternoon!
Nice pick up in the BID!
Gonna stick my neck out and estimate that Afentra will want to partake in the onshore Kwanza and Lower Congo blocks and the deadline is 15 November 2023. But they will want their govrenment approvals on Block 3/05 first
https://www.linkedin.com/pulse/angola-2023-licensing-round-bonus-contributions-onelegaloficial-qsmac/