Afentra Plc · LSE:AET
Afentra — Shareholder Meeting (May 2022)
12 slides from Afentra's shareholder meeting presentation, May 24, 2022
Slide 1: Annual General Meeting
ANNUAL GENERAL MEETING 24 MAY 2022 Afentra plc 0
Slide 2: Disclaimer
Disclaimer • The information set out in this presentation and the accompanying verbal presentation including any question and answer session and any documents or other materials distributed with the presentation (the “Presentation”) has been produced by Afentra plc (the “Company”) as at the date of
Slide 3: Introduction
Introduction The Global Energy Transition will take time. It is vitally important that we responsibly manage what has already been found. Hydrocarbons are part of the transition and will continue to remain important in the overall energy mix. The socio-economic impact of the energy transition needs
Slide 4: Afentra's Role in a Responsible Transition
Afentra’s Role in a Responsible Transition Afentra’s objective is to turn legacy producing fields and discovered resources into profitable assets for Afentra and all of our stakeholders Committed to shareholder returns within a responsible ESG framework International Oil Companies • Safe, efficient
Slide 5: Driving sustainable value
Driving sustainable value A focused and effective business model with embedded ESG framework 1. 2. 3. 4. Assess & acquire Optimise & produce Reinvest & extend Retire & convert Legacy production assets Applying proven & innovative Reinvest in incremental Responsible and proven discovered technologies
Slide 6: Significant progress made in our first year
Significant progress made in our first year A Firm Foundation: Clear Strategic Focus: Initial Acquisition & Opportunity Screening: • Angolan acquisition demonstrates the • New experienced Board and • Identified key focus areas with a clear success of the foundation work in year Executive team strate
Slide 7: Block 3/05 Angola - Deal summary
Block 3/05 Angola - Deal summary Transaction Consideration • Effective Date – 20th April 2022 Key Deal Metrics • $80 million cash upfront, subject to customary completion • Low-cost entry with implied acquisition cost of ~$4/ 2P bbl1 adjustments • Attractive asset breakeven economics of $35/bbl • $5
Slide 8: Angola – a key strategic target
Angola – a key strategic target Why Angola? • One of the largest oil producers in Africa • Current production of 1.2 million bbl/d from deepwater, shallow-water & onshore dating back to 1956 • Economy dependent on responsible management of resources • Investment historically dominated by IOCs, howev
Slide 9: Transaction timing and next steps
Transaction timing and next steps 28 April • SPA signing announcement, shares continue to be suspended from trading May • Completion of due diligence and placement of 10% transaction deposit bank guarantee May/June • Government approvals and Block 3/05 licence extension granted • Publication of AIM
Slide 10: Strong foundation for future acquisitions
Strong foundation for future acquisitions • Consistent with strategy to build a balanced cash flow generative portfolio of assets Entry to Angola provides • Afentra is uniquely positioned to build strong relationship with Sonangol foundation for growth • Significant pipeline of production opportunit
Slide 11: Uniquely positioned to capitalise on the African Energy Transition
Uniquely positioned to capitalise on the African Energy Transition 1. 2. 3. 4. 5. Significant Gap in market for Proven team Committed to African Energy hydrocarbon credible operators with significant responsible Transition provides resource base in to facilitate safe experience of stewardship and co
Slide 12: Voting Result of AGM
Voting Result of AGM Resolution For Against Withheld No. of shares % of votes* No. of shares % of votes* Ordinary Resolutions 1. To receive and adopt the Annual accounts for the financial year ended 31 December 42,817,519 99.99% 5,000 0.01% 65,555 2021 2. To receive the Directors' Remuneration repor