Afentra Plc · LSE:AET
Afentra — Merger or Acquisition (July 2023)
10 slides from Afentra's merger presentation, Jul 19, 2023
Slide 1: African Energy Transition: Azule SPA and Amended Sonangol Acquisition
AFRICAN ENERGY TRANSITION Azule SPA and Amended Sonangol Acquisition 19 July 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: Afentra Corporate Formation
Afentra Corporate Formation Foundation and road to success Afentra’s founding principles (April 2021) Feb–Mar 2021 Apr–May 2021 Apr & July 2022 August 2022 July 2023 The Global Energy Transition will take time. New leadership & owners Re-brand & official Foundational Re-admission 3rd production deal
Slide 4: Azule SPA and Sonangol Acquisition Update
Azule SPA and Sonangol Acquisition Update Combination of transactions builds a material position in both Blocks 3/05 and 3/05A Block Post completion interests Azule SPA, 19 July 2023 3/05 INA deal Sonangol deal Azule deal • Attractive incremental acquisition increasing Afentra’s interests in Blocks
Slide 5: Building a material position across both Blocks 3/05 and 3/05A
Building a material position across both Blocks 3/05 and 3/05A Acquisition structures for Block 3/05 and 3/05A transactions INA Sonangol2 Azule Aggregate Detailed acquisition structure (at SPA) Bl. 3/05 Bl. 3/05A Bl. 3/05 Bl. 3/05A Bl. 3/05 Bl. 3/05A Bl. 3/05 Bl. 3/05A Working interest acquired 4% 5
Slide 6: Attraction in acquiring Azule barrels
Attraction in acquiring Azule barrels Comparison of Block 3/05 transactions Block 3/05 acquisition metrics INA Sonangol Azule Comments (at SPA) Net WI Per % WI Net WI Per % WI Net WI Per % WI Working interest acquired 4% 1% 14% 1% 12% 1% 30% combined interest Effective date 30-Sep-21 20-April-2022 3
Slide 7: 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 (5.33%)1 – effective date 30 September 2021 Completion Date – 5 May 2023 $ million Transaction status & funding Upfront consideration 12.0 • Tr
Slide 8: Operational Update: Blocks 3/05 and 3/05A
Operational Update: Blocks 3/05 and 3/05A Block 3/05 (Congo basin) – 30%1 • June 2023 production averaged ~19,100 bbl/d o H1 2023 production averaged ~18,000 bbl/d compared to Q1’23 of 17,206 bbl/d, demonstrating the benefit of planned restoration works over Q1’23 in addition to the well interventio
Slide 9: Delivering against a clear and focused strategy
Delivering against a clear and focused strategy Building a material African independent NEXT STEPS ESTABLISHED RELATIONSHIPS brand and team across West Africa, industry & capital markets Azule SPA signed o Strategy built around helping Africa o Strengthened profile in industry as a credible placemen
Slide 10: 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