Afentra Sets Out Angola-Focused Growth Plan With Drilling and Fast-Track Developments

Afentra ( (GB:AET) ) has provided an update.

Afentra has outlined its near- and medium-term growth strategy in Angola as presented at the Pareto Energy Conference in London, emphasizing disciplined, value-driven development of its offshore and onshore portfolio following a recently announced 400% increase in 2C contingent resources. The company highlighted a planned 2026–2027 infill drilling and heavy workover programme on the producing Block 3/05 fields, including up to two new wells and three workovers in the Palanca field, which together could lift gross production by up to 12,500 barrels of oil per day and provide exposure to up to 120 million barrels of reserves and resources for an estimated gross capex of $115–130 million. Afentra also updated investors on plans to fast-track operated development of discoveries in Block 3/24 by leveraging existing infrastructure, with a Final Investment Decision targeted in late 2026, and outlined early production and exploration upside from its onshore Kwanza Basin assets, underscoring its transition into a next phase of production and reserves growth built on a growing pipeline of organic opportunities.

The most recent analyst rating on (GB:AET) stock is a Hold with a £47.00 price target. To see the full list of analyst forecasts on Afentra stock, see the GB:AET Stock Forecast page.

Spark’s Take on GB:AET Stock

According to Spark, TipRanks’ AI Analyst, GB:AET is a Outperform.

Afentra’s overall stock score is driven by its strong financial performance and attractive valuation, indicating a solid investment potential. However, technical analysis suggests caution due to bearish momentum. The company’s strategic initiatives and corporate events further bolster its growth prospects, contributing positively to the score.

To see Spark’s full report on GB:AET stock, click here.

More about Afentra

Afentra plc is an upstream oil and gas company focused on acquiring production and development assets in Africa to support a responsible energy transition. The company holds non-operated and operated interests in offshore Angola’s Lower Congo Basin, including producing Block 3/05, Blocks 3/05A and 3/24, as well as non-operated interests in onshore Kwanza Basin blocks KON15 and KON19 and offshore exploration Block 23, targeting scalable, infrastructure-led growth in the region.

Average Trading Volume: 553,278

Technical Sentiment Signal: Buy

Current Market Cap: £101.5M

For a thorough assessment of AET stock, go to TipRanks’ Stock Analysis page.