Afentra Plc · LSE:AET
Afentra — Shareholder Meeting (June 2023)
9 slides from Afentra's shareholder meeting presentation, Jun 20, 2023
Slide 1: African Energy Transition - Annual General Meeting
AFRICAN ENERGY TRANSITION Annual General Meeting 20 June 2023 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: Strategic progress over the past 12 months
Strategic progress over the past 12 months Delivering against a focused strategy : Key financial updates Readmission to trading on AIM – August ‘22 Financing & offtake agreements • Publication of Admission Document followed by shareholder approval on 30 August 2022 in relation to reverse takeover an
Slide 4: INA deal completed May 2023
INA deal completed May 2023 Significant offset to completion costs with earned cash flow & stock at completion INA Transaction Block 3/05 (4%), Block 3/05A (4%)1 – effective date 30 September 2021 Completion Date – 5 May 2023 $ million Transaction status & funding Upfront consideration 12.0 • Transa
Slide 5: Sonangol deal near completion
Sonangol deal near completion Post-deal interests Block 3/05 PSA extension Block 3/05 INA Sonangol • Executive Decree issued May 2023 to formally approve the period of partners completion completion the Block 3/05 PSA to December 20401 Sonangol 50% 30% • Licence extension approval satisfies a key co
Slide 6: June 2023 Operational Update: Blocks 3/05 and 3/05A
June 2023 Operational Update: Blocks 3/05 and 3/05A Block 3/05 (Congo basin) – 24%1 • May 2023 production averaged ~18,900 bbl/d o Compares to Q1’23 of 17,206 bbl/d when rates were impacted by downtime due to planned restoration works on power generation and distribution network o Updated CPR comple
Slide 7: Transaction timing and next steps
Transaction timing and next steps Sonangol Transaction INA Transaction • SPA signing announcement, shares continue to be April’22 suspended from trading • Completion of due diligence and placement of 10% June’22 transaction deposit bank guarantee • SPA signing announcement, placement of 10% July’22
Slide 8: Next steps for Afentra
Next steps for Afentra Afentra is leveraging extensive regional experience and network to deliver significant value African pipeline of opportunities • Foothold established in Angola with initial acquisitions in Blocks 3/05 & 3/05A; long life production asset with low decline rate, material upside a
Slide 9: Uniquely positioned to capitalise on the African Energy Transition
Uniquely positioned to capitalise on the African Energy Transition 1. 2. 3. 4. 5. Significant hydrocarbon Gap in market for Proven team Committed to African Energy Transition resource base in Africa credible operators to with significant responsible stewardship provides compelling with material M&A