Afentra (GB:AET) has released an update.
Afentra PLC has successfully finalized the purchase of additional stakes in two offshore Angola oil blocks, increasing its ownership to 30% and 21.33% respectively, with a reduced cash payment of $28.4 million at completion. The company now holds a significant amount of crude oil inventory and expects to continue enhancing production through a Light Well Intervention program. Afentra’s strategic growth is set to capitalize on opportunities in Angola and West Africa, aiming to become a leading independent African-focused oil and gas entity.
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