Afentra Provides H1 2025 Operational and Financial Update
Why we think this is neutral
This RNS announcement provides a general operational and financial update for Afentra, covering production, acquisitions, new licenses, financial performance, and hedging. It does not fall into any of the specific news categories that would warrant a more positive or negative sentiment score.
Key Points
- Block 3/05 Acquisition: SPA signed with Etu Energias for additional interests in Blocks 3/05 and 3/05A
- Kwanza Onshore Expansion: KON15 license awarded; KON4 license contract initialled
- H1 2025 Net Average Production: 6,348 bopd
- Crude Oil Sales & Revenue: 0.7 mmbbls sold at $72/bbl, generating $52.0 million revenue, with an additional 0.5 mmbbls sold at $70/bbl post-period
- Borrowings: Reduced to $36.8 million, with Net Debt of $15.5 million (Net Cash $19.9 million post 1st July lifting)
- 2P Reserve Replacement: >140% over 18-month period, demonstrating reserve growth potential
Summary
The oil and gas company reports solid H1 2025 performance, with increased production, revenue, and reduced debt. It also announces new license awards and an acquisition to expand its portfolio in Africa.
Afentra plc (AIM: AET), an upstream oil and gas company focused on opportunities in Africa, has provided an operational and financial trading update for the six months ended 30 June 2025. Key highlights include:
- Block 3/05 Acquisition: Signed a SPA to acquire additional interests in Blocks 3/05 and 3/05A
- Kwanza Onshore Expansion: Awarded the KON15 license and initialed the KON4 Risk Service Contract
- H1 2025 Net Average Production: 6,348 bopd
- Crude Oil Sales & Revenue: 0.7 mmbbls sold at $72/bbl, generating $52.0 million revenue, with an additional 0.5 mmbbls sold at $70/bbl post-period
- Borrowings: Reduced to $36.8 million, with Net Debt of $15.5 million (Net Cash $19.9 million post 1st July lifting)
- 2P Reserve Replacement: >140% over 18-month period, demonstrating reserve growth potential
Key Dates
17 July 2025
Investor Webinar Presentation
GENERAL UPDATE