From £6.99 per month
The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Join for as low as £6.99 per month

With ShareProphets’ membership, you receive:

• All premium articles

• Tom Winnifrith’s Bearcast

• Access to all the entire nearly 10 year archive

• ShareProphets Daily Newsletter

Results: AET

Search articles by EPIC code

The detail of the Afentra deal in Angola look good to me and I'm very happy to be holding

A couple of weeks back I wrote a piece here about how I was excited about the prospects of a small AIM oil company, Afentra (AET), where I hold a stake myself and which had just announced that it had potentially secured a stake in two blocks, subject to final due diligence. The company has now announced that it has entered into a sale and purchase agreement with the vendor, Sonangol, and has released a lot more information on the finer details of the proposed transaction – including the fact that it is expected to be funded from existing cash balances plus debt, and with no equity dilution to existing holders in order to complete the deal.


It looks like Afentra shareholders will finally be rewarded with an asset that will have a big impact on the company - and hopefully the share price

Over the weekend reports emerged in the Angolan press that its national oil company, Sonangol, had finally completed the bidding process for the licences that it was selling its stakes in, and that a small AIM company, Afentra (AET), had been successful in being selected for two of these blocks. I’ve been invested in Afentra for some time – as well as having covered it positively several times here going back to the days when it was called Sterling Energy, and like many others have been patiently waiting for some news whilst the shares remained suspended. Due to the size of any transaction resulting from its bids, it will constitute a reverse takeover and the shares were suspended accordingly, and will remain so until either a prospectus is published or it terminates its bids for the Sonangol assets.

Page 1 of 2 (12 articles)
Subscribe to our newsletter

Daily digest of our latest stories.

Search ShareProphets

Complete Coverage

Recent Comments

Time left: 04:15:06