Afentra plc
STGAF
Other OTC0.98
USD
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Afentra plc
STGAF
(Other OTC)
Recent
price
0.98
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Afentra plc is a London-listed upstream oil and gas company focused on acquiring, developing, and optimizing mature producing assets, near-field developments, and exploration opportunities primarily in Angola. The company holds non-operated interests in key offshore assets including a 30% stake in Block 3/05 and a 21.33% stake in Block 3/05A, which feature world-class mid-life fields with multi-billion barrel potential; onshore assets in the Kwanza Basin such as 45% non-operated interests in prospective Blocks KON19 and KON15; and risk service contracts for legacy onshore fields like Palanca, Pungo Cassango, and Canuku, which offer over 130 million barrels of oil and 400 billion cubic feet of gas initially in place. Operations target high-margin production, cash flow generation, and resource upside through efficient redevelopment, with a commitment to reducing emissions and supporting socio-economic development in Africa. Founded in 1983 and headquartered at 10 St. Bride Street in London, United Kingdom, Afentra rebranded from Sterling Energy plc in May 2021 to pursue its strategy in proven African hydrocarbon basins. The company serves as a trusted partner for international oil companies and national oil companies divesting legacy assets, emphasizing sustainable growth amid the energy transition. Its portfolio delivers net average production, substantial 2P+2C reserves and resources, and revenue from crude oil liftings, bolstered by a strong balance sheet with significant cash resources. Recent developments include the May 2024 completion of the Azule acquisition, adding to prior deals with Sonangol in 2023 and INA, achieving payback on these transactions through strong cash flows by late 2024; license awards for onshore Blocks KON19 in July 2024 and KON15 in April 2025; a June 2025 agreement with Etu Energias and Maurel & Prom to acquire additional net interests of 5% in Block 3/05 and 6.67% in Block 3/05A for $23 million initial consideration plus up to $11 million contingent, expected to close in H2 2025; and a September 2025 heads of terms with Angola's ANPG for a risk service contract on onshore Block 3/24, expanding acreage and operatorship opportunities. Plans call for more than doubling crude output by restarting long-dormant onshore fields. These moves enhance production diversification, joint venture alignment, and exposure to high-upside assets.
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