REG - Afentra PLC - Responds to Media Speculation

AfentraAnnouncement

18/03/2025 11:15

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RNS Number : 1414B  Afentra PLC  18 March 2025

18 March 2025

 

AFENTRA PLC

 

Responds to Media Speculation

 

 

Afentra plc ('Afentra' or the 'Company') (AIM: AET), the upstream oil and gas
company focused on acquiring production and development assets in
Africa, notes the recent press speculation in African Intelligence and
confirms that Afentra, and another of its joint venture partners, is in
discussions to acquire the interests in Blocks 3/05 (10%) and
3/05A (13.5%) held by Etu Energias (the "Etu Interests").

 

There can be no certainty that the transaction to acquire the Etu Interests
will proceed. Should any such acquisition proceed, Afentra would utilise
existing cash resources to fund the transaction and the transaction would be
subject to a number of customary closing conditions, including regulatory and
government approvals. Further updates will be made as appropriate.

 

Afentra continues to work with the Block 3/05 and 3/05A operator, Sonangol,
and our joint venture partners on an ongoing redevelopment plan for the assets
which is delivering both increased production and reserves. We are pleased
with the collaborative progress being made alongside Sonangol as operator and
remain focused on supporting the joint efforts to unlock further value from
these 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 Afentra has a 30%
non-operated interest in the producing Block 3/05 and a 21.33% non-operated
interest in the adjacent development Block 3/05A in the Lower Congo Basin and
a 40% non-operating interest in the exploration Block 23 in the Kwanza Basin.
Onshore, Angola Afentra has a 45% non-operated interest in the prospective
Block KON 19 and 45% non-operated interest in Block KON 15 located in the
western part of the Onshore Kwanza Basin. Afentra also has a 34% carried
interest in the Odewayne Block onshore southwestern Somaliland.

 

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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