{"id":15923,"date":"2026-09-16T07:31:30","date_gmt":"2026-09-16T07:31:30","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=15923"},"modified":"2026-09-16T07:31:30","modified_gmt":"2026-09-16T07:31:30","slug":"angola-afentra-geared-up-for-angolan-expansion","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-geared-up-for-angolan-expansion\/","title":{"rendered":"ANGOLA: Afentra Geared Up for Angolan Expansion"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Afentra plc is pivoting firmly into full-scale operational execution in Angola, backed by a freshly strengthened balance sheet, an upcoming offshore drilling campaign, and expansive onshore seismic surveys.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fresh off its 2026 half-year financial results, the African-focused energy independent confirmed a multi-front suite of near-term catalysts designed to drive production, unlock new reserves, and expand its footprint through strategic M&amp;A across the remainder of 2026 and early 2027.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Offshore Angola: Sidetracks, New Wells, and Workovers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Afentra&#8217;s offshore operations in Block 3\/05 and 3\/05A where net production averaged 6,236 barrels of oil per day (bopd) in July and August are set to experience significant activity in the coming weeks and months:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Pacassa SW Sidetrack &amp; Completion:<\/strong> Following the recent Pacassa SW oil discovery which revealed 136 metres of net oil pay\u2014joint-venture operations are finalizing a sidetrack to bypass a minor wellbore obstruction. Once complete, the well is expected to unlock a structural area holding an estimated <strong>70 million barrels of gross recoverable oil resources<\/strong>. Crucially, under prior commercial terms with state oil firm Sonangol, Afentra carries <strong>no financial exposure<\/strong> to the extra costs incurred by the sidetrack operation.<\/li>\n\n\n\n<li><strong>Impala-2 Drilling:<\/strong> Positioned as the next well in the two-well drilling programme, preparations are advanced to spud <strong>Impala-2<\/strong>, targeting an initial production boost of roughly <strong>4,000 bopd<\/strong>.<\/li>\n\n\n\n<li><strong>Hydraulic Workovers (Early 2027):<\/strong> Preparations are underway for an offshore hydraulic workover campaign scheduled to launch in early 2027 to sustain production momentum and enhance long-term reservoir recovery.<\/li>\n\n\n\n<li><strong>Ramping Water Injection:<\/strong> The joint venture is targeting a water injection rate of roughly <strong>100,000 barrels of water per day (bwpd)<\/strong> in the second half of 2026 (up from ~56,000 bwpd in July\/August) to optimize field pressure.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. Onshore Kwanza Basin: Seismic Guns Firing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Following the completion of airborne high-resolution geophysical surveys (eFTG) across its onshore licences, Afentra is turning its focus to seismic acquisition and prospect generation:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>300 km 2D Seismic on KON15:<\/strong> A contract has been awarded for a 300 km 2D seismic acquisition campaign across Block KON15, set to begin in <strong>September 2026<\/strong>.<\/li>\n\n\n\n<li><strong>Quenguela Norte Target (KON4):<\/strong> Building on newly awarded rights to Block KON4, Afentra is progressing plans for a focused 2D seismic campaign in <strong>H1 2027<\/strong> around the historic Quenguela Norte field, setting the stage for future redevelopment.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">3. Pending M&amp;A: Closing the Etu Acquisition<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Afentra expects to finalize the acquisition of additional equity from Etu Energias within Q3 2026. Upon closing, the company will incrementally increase its working interest in both core assets:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Block 3\/05:<\/strong> Increasing to <strong>33.33%<\/strong><\/li>\n\n\n\n<li><strong>Block 3\/05A:<\/strong> Increasing to <strong>24.99%<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Financial Firepower to Fuel Growth<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The upcoming operational surge is backed by a fully funded balance sheet following a series of recent refinancing milestones:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>$125 Million Debt Facility:<\/strong> Fully executed Gunvor prepayment facility ($70 million drawn), reducing cost of debt while leaving $55 million in additional headroom for 2026\/2027.<\/li>\n\n\n\n<li><strong>$42 Million Equity Injection:<\/strong> An oversubscribed $40 million institutional placement alongside a \u00a32 million retail offer.<\/li>\n\n\n\n<li><strong>Robust Liquidity:<\/strong> Total cash resources stood at $97.4 million (net cash of $28.4 million) as of June 30, 2026, reinforced by strong underlying cash flows from revenue generated at average realized crude prices above $90\/bbl in H1.<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>&#8220;The first half of 2026 has been a period of significant strategic and financial delivery, marking our transition into the execution phase of our organic growth strategy,&#8221;<\/em> stated Paul McDade, Chief Executive Officer of Afentra plc. <em>&#8220;Looking forward, the completion of Pacassa SW, the drilling of Impala-2, the anticipated completion of the Etu acquisition, and the commencement of onshore 2D seismic acquisition provide an active period with multiple near-term catalysts.&#8221;<\/em><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Afentra plc is pivoting firmly into full-scale operational execution in Angola, backed by a freshly strengthened balance sheet, an upcoming offshore drilling campaign, and expansive onshore seismic surveys. Fresh off &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-geared-up-for-angolan-expansion\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":15926,"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":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[12613,160,10152,10616,12017,12466,11465,8460,12614,5018,12615],"class_list":["post-15923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-afentra-plc","tag-angola","tag-block-3-05","tag-block-3-05a","tag-etu-energias","tag-impala-2","tag-kon15","tag-kwanza-basin","tag-pacassa-sw-oil-discovery","tag-paul-mcdade","tag-quenguela-norte-target","entry"],"jetpack_publicize_connections":[],"jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-48P","jetpack-related-posts":[{"id":12966,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-expects-entry-into-angola-in-early-2023\/","url_meta":{"origin":15923,"position":0},"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 &quot;Countries&quot;","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":15923,"position":1},"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 &quot;Countries&quot;","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":15281,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-receives-approval-of-block-3-24-license\/","url_meta":{"origin":15923,"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 &quot;Countries&quot;","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":12470,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afentra-acquires-additional-interests-in-offshore-block-3-05-3-05a\/","url_meta":{"origin":15923,"position":3},"title":"ANGOLA: Afentra Acquires Additional Interests in Offshore Block 3\/05 &#038; 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 &quot;Countries&quot;","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":15513,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-reports-400-increase-in-2c-resources\/","url_meta":{"origin":15923,"position":4},"title":"ANGOLA: Afentra Reports 400% Increase in 2C Resources","author":"","date":"January 14, 2026","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Countries&quot;","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":14172,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-serinus-energy-afentra-selected-as-a-preferred-bidders-in-2023-onshore-bid-round\/","url_meta":{"origin":15923,"position":5},"title":"ANGOLA: Serinus Energy &#038; Afentra Selected as a Preferred Bidders in 2023 Onshore Bid\u00a0Round","author":"","date":"January 23, 2024","format":false,"excerpt":"Serinus Energy notes that it has been selected as a preferred bidder on the KON-13 block in the onshore Kwanza basin in the Republic of Angola. Formal notification of this preferred bidder status is expected to be received from the Ag\u00eancia Nacional De Petr\u00f3leo, G\u00e1s E Biocombust\u00edveis (ANPG) in the\u2026","rel":"","context":"In &quot;Countries&quot;","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\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/09\/Screenshot-2026-09-16-102653-1.png?fit=448%2C726&ssl=1","_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15923","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=15923"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15923\/revisions"}],"predecessor-version":[{"id":15927,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/15923\/revisions\/15927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/15926"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=15923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=15923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=15923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}