REG - Afentra PLC - Afentra’s Portfolio and Growth Strategy

AfentraAnnouncement

22/01/2026 07:00

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RNS Number : 8402P  Afentra PLC  22 January 2026

22nd January 2026

 

AFENTRA PLC

 

Afentra's Portfolio and Growth Strategy

Pareto Energy Conference Presentation

 

Afentra plc ('Afentra' or the 'Company') (AIM: AET), an upstream oil and gas
company focused on acquiring production and development assets in Africa,
announces that its Chief Operating Officer, Ian Cloke, will present at the
Pareto Energy Conference in London today, 22 January 2026.

 

The presentation, available on the Company's website
https://wp-afentra-2025.s3.eu-west-2.amazonaws.com/media/2026/01/2026.01.-22-AET-Pareto-Energy-Conf-London.pdf
(https://wp-afentra-2025.s3.eu-west-2.amazonaws.com/media/2026/01/2026.01.-22-AET-Pareto-Energy-Conf-London.pdf)
, provides an overview of Afentra's near and medium-term growth potential from
both offshore and onshore Angola, building on the recently announced 400%
increase in 2C contingent resources.

 

Highlights from the presentation include:

-       Overview of Afentra's growth strategy across offshore and
onshore Angola, focused on scalable, infrastructure-led development
opportunities across its portfolio

-       Details of the potential 2026-2027 infill drilling and heavy
workover programme across the producing Block 3/05 fields, with planning
underway for up to two wells (Impala-2 and Pacassa SW-1) and three workovers
in the Palanca field. These activities could together provide:

o  Production uplift of up to 12,500 bopd gross (Net: 3,750 bopd)

o  Reserves and resources upside exposure of up to 120 mmbbo gross (Net: ~36
mmbbo)

o  Capex for the activities is expected to be ~ $115-130million gross (Net:
$34-39 million)

-       Update on the plans to "fast-track" the operated development of
Block 3/24 discoveries, leveraging existing infrastructure, with development
studies targeting a Final Investment Decision in Q4 2026

-       Outline of Afentra's onshore Kwanza Basin portfolio, including
early production opportunities and medium-term exploration upside.

The presentation highlights Afentra's transition into its next phase of
production and reserves growth focused on disciplined, value-driven well and
development activities, underpinned by a growing pipeline of organic
opportunities across its offshore and onshore assets.

 

 

For further information contact:

Afentra plc +44 (0)20 7405 4133

Paul McDade, CEO

Anastasia Deulina, CFO

Christine Wootliff, Investor Relations

 

Burson Buchanan (Financial PR) +44 (0)20 7466 5000

Ben Romney

Barry Archer

George Pope

 

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) +44 (0) 20
7710 7600

Callum Stewart

Simon Mensley

Ashton Clanfield

 

Tennyson Securities (Joint Broker) +44 (0)20 7186 9033

Peter Krens

 

About Afentra

Afentra plc (AIM: AET) is an upstream oil and gas company focused on
opportunities in Africa. The Company's purpose is to support a responsible
energy transition in Africa by establishing itself as a credible partner for
divesting IOCs and host governments. Offshore Angola, in the Lower Congo
Basin, Afentra holds a 30% non-operated interest in the producing Block 3/05,
a 21.33% non-operated interest in Block 3/05A, and a 40% operated interest in
Block 3/24 - both Blocks 3/05A and 3/24 are located adjacent to Block 3/05.
Onshore Angola, in the western part of the onshore Kwanza Basin, Afentra holds
45% non-operated interests in the prospective Blocks KON15 and KON19. Afentra
also holds a 40% non-operated interest in the offshore exploration Block 23 in
the Kwanza Basin.

 

 

 

Glossary

 2C Resources  those quantities of petroleum estimated, as of a given date, to be potentially
               recoverable from known accumulations by application of development projects
               but which are not currently considered to

               be commercially recoverable due to one or more contingencies. Contingent
               resources are a class of discovered recoverable resources
 bopd          barrels of oil per day
 mmbo          million barrels of oil

 

Standard

Estimates of reserves and resources have been prepared in accordance with the
June 2018 Petroleum Resources Management System ("PRMS") as the standard for
classification and reporting.

 

Technical Information

The technical information contained in this announcement has been reviewed and
approved by Robin Rindfuss, Head of Sub-Surface at Afentra plc. Robin Rindfuss
has over 30 years of experience in oil and gas exploration, production and
development. He is a member of the Society of Petroleum Engineers (SPE) and
holds a Bachelor of Science (BSc) and a Bachelor of Science Honours (BSc Hons)
in Physics and Mathematics from the University of Cape Town.

 

Inside Information

This announcement contains inside information for the purposes of article 7 of
Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018) and as subsequently amended by the
Financial Services Act 2021 ('UK MAR'). Upon publication of this announcement,
this inside information (as defined in UK MAR) is now considered to be in the
public domain. For the purposes of UK MAR, the person responsible for
arranging for the release of this announcement on behalf of Afentra is Paul
McDade, Chief Executive Officer.

 

 

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