Afentra, the upstream oil and gas company focused on acquiring production and development assets in Africa, notes the recent press speculation in African Intelligence and confirms that Afentra, and another of its joint venture partners, is in discussions to acquire the interests in Blocks 3/05 (10%) and 3/05A (13.5%) held by Etu Energias.
There can be no certainty that the transaction to acquire the Etu Interests will proceed. Should any such acquisition proceed, Afentra would utilise existing cash resources to fund the transaction and the transaction would be subject to a number of customary closing conditions, including regulatory and government approvals.
Afentra continues to work with the Block 3/05 and 3/05A operator, Sonangol, and their joint venture partners on an ongoing redevelopment plan for the assets which is delivering both increased production and reserves. Afentra are pleased with the collaborative progress being made alongside Sonangol as operator and remain focused on supporting the joint efforts to unlock further value from these assets.
