Afentra plc (LSE:AET) released a comprehensive operational and financial update, noting key progress across its portfolio. The company confirmed the award of the Block 3/24 licence with a 40% interest and reported continued movement toward completing the acquisition of Etu Energias, targeted for early 2026. Production levels remained stable, supported by substantial revenue from crude oil sales. Afentra also advanced its infrastructure investments and drilling preparations—measures aimed at boosting recovery rates and strengthening its long-term production profile in Angola. Governance was further enhanced with the appointment of Andrew Osborne as a Non-Executive Director and Chair of the Audit Committee.
Afentra’s outlook is bolstered by strong financial performance marked by notable revenue and profit gains. Even so, bearish technical indicators moderate the near-term view. The stock screens as undervalued on a low P/E basis, offering potential upside, though the absence of a dividend may constrain interest for income-focused investors.
More about Afentra
Afentra plc is an Africa-focused upstream oil and gas company specialising in the acquisition of producing and development-stage assets. Working alongside divesting international oil companies and host governments, Afentra seeks to support a responsible and pragmatic energy transition across the region. The company holds a mix of operated and non-operated positions in Angola and Somaliland.
Leave a Reply