Afentra ( (GB:AET) ) has issued an announcement.
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.
More about Afentra
Afentra plc is an upstream oil and gas company focused on opportunities in Africa. The company aims to support a responsible energy transition in Africa by partnering with divesting international oil companies and host governments. Afentra holds non-operated interests in several blocks offshore and onshore Angola, as well as a carried interest in the Odewayne Block in Somaliland.
YTD Price Performance: -16.70%
Average Trading Volume: 783,220
Technical Sentiment Signal: Hold
Current Market Cap: £90.01M
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