Afentra Responds to Media Speculation on Potential Asset Acquisition
Why we think this is neutral
This RNS announcement does not contain any of the mandatory news types required for further detailed analysis. It simply provides an update on media speculation regarding a potential acquisition, without providing any financial or operational details.
Key Points
- Afentra confirms it is in discussions to acquire interests in Blocks 3/05 and 3/05A offshore Angola
- The potential acquisition would be from Etu Energias, but there is no certainty the transaction will proceed
- Afentra would use existing cash resources to fund the potential acquisition, which would be subject to approvals
Summary
Afentra PLC (AIM: AET), the upstream oil and gas company focused on opportunities in Africa, has responded to recent media speculation regarding a potential acquisition of interests in Blocks 3/05 and 3/05A offshore Angola. The company confirms it is in discussions with another joint venture partner to acquire the interests held by Etu Energias, but notes there is no certainty the transaction will proceed. Afentra states it would utilize existing cash resources to fund the potential acquisition, which would be subject to regulatory and government approvals.