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Afentra
(LSE:AET)
Afentra (AET) vs. S&P 500 (SPY)
Afentra Business Overview & Revenue Model
Afentra Financial Statement Overview
| Breakdown | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 26.39M | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 13.82M | -3.49K | -2.73K | -1.22K | -1.44K | EBIT |
| 2.36M | -8.97M | -4.98M | -2.17M | -2.55M | EBITDA |
| 5.05M | -8.64M | -4.71M | -2.17M | -2.55M | Net Income Common Stockholders |
| -2.71M | -9.20M | -5.04M | -1.96M | -1.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 14.73M | 20.38M | 37.73M | 42.67M | 44.85M | Total Assets |
| 210.63M | 52.87M | 60.03M | 64.92M | 67.19M | Total Debt |
| 31.86M | 337.00K | 581.00K | 786.00K | 943.00K | Net Debt |
| 17.13M | -20.05M | -37.15M | -41.89M | -43.91M | Total Liabilities |
| 162.66M | 3.06M | 1.14M | 1.03M | 1.41M | Stockholders Equity |
| 47.97M | 49.81M | 58.89M | 63.89M | 65.78M |
| Cash Flow | Free Cash Flow | |||
| 8.96M | -6.86M | -4.71M | -2.25M | -2.31M | Operating Cash Flow |
| 12.32M | -6.70M | -4.50M | -2.15M | -2.29M | Investing Cash Flow |
| -45.90M | -10.28M | -194.00K | 224.00K | 1.04M | Financing Cash Flow |
| 27.95M | -225.00K | -273.00K | -283.00K | -255.00K |
Afentra Technical Analysis
Afentra Peers Comparison
Afentra Corporate Events
Afentra plc has released its Annual Report and Financial Statements for the year ending December 31, 2024, alongside the notice for its 2025 Annual General Meeting. The company reported a significant turnaround in its financial performance, achieving a profit of $52.35 million compared to a loss in the previous year. This improvement reflects Afentra’s strategic positioning in the African oil and gas sector, with a focus on responsible energy transition and partnerships with international oil companies and host governments. The AGM will be conducted electronically, allowing shareholders to participate and vote online, highlighting the company’s commitment to modernizing its shareholder engagement.
Afentra plc announced a leadership transition with Thierry Tanoh set to become the new Chairman following the retirement of Jeffrey MacDonald after the upcoming AGM. Tanoh, with extensive experience in the financial and energy sectors, will guide Afentra as it continues its growth strategy in the African energy market. Under MacDonald’s leadership, Afentra has successfully established a strong operational and financial position, particularly in Angola, setting a solid foundation for future expansion.
Afentra plc reported its unaudited annual results for 2024, highlighting significant achievements in its operations in Angola. The company completed the Azule acquisition, increasing its stakes in key blocks, and secured new onshore opportunities in the Kwanza basin. Afentra’s financial performance was strong, with $180.9 million in revenue and a net cash position of $12.6 million. The company focused on production optimization and sustainability initiatives, including infrastructure upgrades and emissions reduction. Looking ahead, Afentra plans to continue its strategic growth in Angola and West Africa, emphasizing value-driven mergers and acquisitions, and operational enhancements to boost production and reserves.
Afentra plc has announced the vesting of awards under its Founders’ Share Plan and Long-Term Incentive Plan for its Executive Directors. The vesting reflects the company’s commitment to rewarding exceptional shareholder returns and aligning executive incentives with long-term company performance. The company has opted to satisfy these awards through share purchases via an Employee Share Benefit Trust, maintaining its total issued share capital unchanged. This strategic decision underscores Afentra’s focus on avoiding shareholder dilution while reinforcing its market position and commitment to shareholder value.
Afentra plc has confirmed discussions to acquire interests in Blocks 3/05 and 3/05A from Etu Energias, although the transaction is not yet certain. If successful, Afentra plans to use existing cash resources for the acquisition, subject to regulatory and government approvals. The company continues to collaborate with Sonangol and joint venture partners on redevelopment plans for these blocks, aiming to increase production and reserves, thereby enhancing asset value.
Afentra plc has been awarded a 45% non-operating interest in the KON-15 onshore license in Angola’s Kwanza basin, following a Presidential Decree. This award is part of Afentra’s strategy to establish a significant presence in Angola’s energy sector, reinforcing its commitment to building partnerships with local operators like Sonangol. The KON-15 license, along with the previously awarded KON-19, is expected to offer significant potential for Afentra, given the historical production in the basin and the limited activity over the past 40 years.
Afentra PLC has released an update on its reserves and resources for Block 3/05 as of December 31, 2024, revealing that its net 2P working interest reserves are 34.2 million barrels of oil, with a gross increase in reserves resulting in a 140% reserve replacement ratio over an 18-month period. The company’s CEO, Paul McDade, highlights the significant potential of the Block 3/05 assets, which have maintained stable reserves despite production, and anticipates substantial future growth with planned rig activity and development efforts, emphasizing the long-term value and production potential of these assets.
Afentra plc’s recent Competent Person’s Report highlights significant potential in Block 3/05, with a 140% reserve replacement ratio over 18 months, reflecting the ability of the assets to maintain and replenish reserves. With rig activities planned for 2026 and continued development of Block 3/05A, Afentra expects significant sustainable production and reserves growth, affirming the long-term value of these assets and their capacity to boost cash flow and value creation.