{"id":15513,"date":"2026-01-14T06:05:47","date_gmt":"2026-01-14T06:05:47","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15513"},"modified":"2026-01-14T06:05:50","modified_gmt":"2026-01-14T06:05:50","slug":"angola-afentra-reports-400-increase-in-2c-resources","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-reports-400-increase-in-2c-resources\/","title":{"rendered":"ANGOLA: Afentra Reports 400% Increase in 2C Resources"},"content":{"rendered":"\n

Afentra has announced the completion of an independent audit by Sproule ERCE of its contingent resource base across Blocks 3\/05 and 3\/05A discoveries and the completion of the Company’s initial assessment of contingent resources within Block 3\/24.\u00a0The Company’s annual reserves assessment is currently underway and will be released upon completion later this quarter.<\/p>\n\n\n\n

Contingent Resource Upgrades<\/strong><\/p>\n\n\n\n

Afentra has completed an independent resource assessment of the undeveloped oil and gas discoveries across Blocks 3\/05 and 3\/05A, including Bufalo Norte, Punja, Gazela1&2 and Caco. As a result of this assessment 2C working interest (WI) contingent resources of 36.6 mmboe (gross 164.2 mmboe) has been certified across these discoveries, inclusive of associated gas.<\/p>\n\n\n\n

The Company has also undertaken an initial internal review of the discoveries within the recently awarded Block 3\/24, and management estimates that this represents additional WI contingent resource of 37.0 mmboe (gross 92.4 mmboe).<\/p>\n\n\n\n

In addition, the Company is in the process of assessing the significant upside resource potential within the Block 3\/05 producing fields and these will be quantified as the planned infill drilling and heavy workover programme is progressed. To date only 13.8 mmbo (gross 46 mmbo) of 2C WI contingent resource has been booked, however, the initial infill and workover programme has significant potential beyond this initial booked value.<\/p>\n\n\n\n

Accordingly, the Company’s total 2C WI contingent resources across Blocks 3\/05, 5A and 24 now amount to 87.3 mmboe (gross 302.6 mmboe) representing an increase of over 400% versus the previously disclosed 2C resources WI of 20.9 mmboe.<\/p>\n\n\n\n

A summary of the updated working interest contingent resources\u00a0is set out below:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Growth Opportunities<\/strong><\/p>\n\n\n\n

The Company’s Chief Operating Officer, Ian Cloke, will be presenting an overview of Afentra’s near and medium-term growth potential from both offshore and onshore Angola at the Pareto Conference. This will include a discussion of the Company’s planned infill drilling and workover campaign within the producing Block 3\/05 fields, currently targeted for execution during 2026-2027, which will target significant near-term production and reserves upside.<\/p>\n\n\n\n

In addition, the presentation will outline the Company’s ongoing work to mature and progress undeveloped and near-field discoveries across Blocks 3\/05, 3\/05A and 3\/24 over the medium term, providing further significant production upside and conversion of the contingent resources into reserves. Additional growth opportunities associated with Afentra’s onshore Kwanza Basin acreage including both redevelopment of existing assets and exploration potential will also be covered. A copy of the Pareto Conference presentation will be released on the morning of the conference on Thursday 22 January 2026.<\/p>\n\n\n\n

Paul McDade, Chief Executive Officer, Afentra plc commented:<\/strong><\/p>\n\n\n\n

“We’re delighted to disclose the outcome of this independent resource update which contributes to a fourfold increase in Afentra’s Working Interest 2C resources vs<\/em> the previously disclosed figures in the market.  This demonstrates some of the enormous upside potential that resides across the diverse portfolio that we have strategically assembled in Angola.  We look forward to elaborating on the outstanding organic growth potential of our asset base at the Pareto conference in London next week.”<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Afentra has announced the completion of an independent audit by Sproule ERCE of its contingent resource base across Blocks 3\/05 and 3\/05A discoveries and the completion of the Company’s initial … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[160,10152,10616,12108,12298,12300,12299,12056,12297],"class_list":["post-15513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-angola","tag-block-3-05","tag-block-3-05a","tag-block-3-24","tag-bufalo-norte","tag-caco","tag-gazela12","tag-punja","tag-sproule-erce","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-42d","jetpack-related-posts":[{"id":15110,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-maurel-prom-afentra-acquire-additional-interests-in-blocks-3-05-and-3-05a\/","url_meta":{"origin":15513,"position":0},"title":"ANGOLA: Maurel & Prom & Afentra Acquire Additional Interests in Blocks 3\/05 and 3\/05A","author":"","date":"June 20, 2025","format":false,"excerpt":"Maurel & Prom has announced that it has agreed to jointly acquire, alongside Afentra, Etu Energias S.A.\u2019s 10% interest in Blocks 3\/05 and 13.33% interest in Block 3\/05A in Angola. M&P has signed a Sale and Purchase Agreement with Etu for its 50% share of the Acquisition which is subject\u2026","rel":"","context":"In \"Afentra\"","block_context":{"text":"Afentra","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/afentra\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12470,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afentra-acquires-additional-interests-in-offshore-block-3-05-3-05a\/","url_meta":{"origin":15513,"position":1},"title":"ANGOLA: Afentra Acquires Additional Interests in Offshore Block 3\/05 & 3\/05A","author":"","date":"July 20, 2022","format":false,"excerpt":"Afentra plc has signed a Sale and Purchase Agreement (SPA) with INA - Industrija Nafte, d.d. to acquire a 4% interest in Block 3\/05 and a 5.33% interest1 in Block 3\/05A, offshore Angola. This transaction builds upon the acquisition of a 20% interest in Block 3\/05 from Sonangol announced in\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15281,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-receives-approval-of-block-3-24-license\/","url_meta":{"origin":15513,"position":2},"title":"ANGOLA: Afentra Receives Approval of Block 3\/24 License","author":"","date":"October 15, 2025","format":false,"excerpt":"Afentra announces that\u00a0the Risk Service Contract (RSC) for offshore Block 3\/24 has been formally approved by Presidential Decree. This follows the Company's announcement on 4 September 2025 confirming the signing of Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG). Block 3\/24 is located adjacent to\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/Angola-Block-3-24.png?fit=412%2C528&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":15736,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-provides-an-operational-update\/","url_meta":{"origin":15513,"position":3},"title":"ANGOLA: Afentra Provides an Operational Update\u00a0","author":"Samuel Kamau Mbote","date":"April 23, 2026","format":false,"excerpt":"Block 3\/05 & 5A Asset performance\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Production \u00a0 - \u00a0 \u00a0\u00a0Gross average production for the three months ended\u00a031 March 2026\u00a0was\u00a020,006\u00a0bopd (Net: Block 3\/05\u00a05,856\u00a0bopd; Block 3\/05A\u00a0102\u00a0bopd)1.\u00a0 Production\u00a0was impacted by downtime associated with the Borr Grid drilling unit positioning over the Pacassa production platform. - \u00a0 \u00a0\u00a0Asset uptime remained stable throughout the\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12966,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-expects-entry-into-angola-in-early-2023\/","url_meta":{"origin":15513,"position":4},"title":"ANGOLA: Afentra Expects Entry into Angola in Early 2023","author":"","date":"December 14, 2022","format":false,"excerpt":"Afentra says it remains in discussion with all relevant parties and is continuing to make good progress on the transaction to purchase non-operating interests in Block 3\/05 (20%) and Block 23 (40%), offshore Angola.\u00a0 An important CP for the transaction is the PSA extension process; ANPG and the Block 3\/05\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15192,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afentra-signs-hot-with-anpg-for-the-risk-service-contract-for-offshore-block-3-24\/","url_meta":{"origin":15513,"position":5},"title":"Afentra Signs HoT with ANPG for the Risk Service Contract for offshore Block 3\/24","author":"","date":"September 5, 2025","format":false,"excerpt":"Afentra has announced that it has signed Heads of Terms with\u00a0Angola's\u00a0National Agency of Petroleum, Gas and Biofuels (ANPG) for the Risk Service Contract (RSC) for offshore Block 3\/24, located adjacent to its existing Block 3\/05 & 5A interests in\u00a0Angola. The formal award of the license is expected in the coming\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15513"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15513\/revisions"}],"predecessor-version":[{"id":15515,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15513\/revisions\/15515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/12967"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}