Afentra Plc
Charting a Prosperous Course in African Oil with Strategic Acquisitions and Robust Production
By Alex Langton | 14 February 2024
Afentra, an upstream oil and gas entity with a keen focus on Africa, recently shared insights on its operational strides, particularly regarding its assets on Block 3/05 and 3/05A. The company is jubilant about its production prowess, boasting an impressive combined gross output of approximately 23,700 barrels of oil per day (bopd) up to the end of February 2024, with a net contribution of around 6,995 bopd. The initiation of Light Well Interventions is anticipated to bolster these figures further.
As you can see from the chart mapping the time since my inaugural feature to date, we are currently 12p to the good. However, i am mindful of more fruitful licensing agreements that could further boost the share price. Currently, the share price appears to be undergoing a consolidation period. If it drops around 30p i am likely to buy at this point.