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The latest update is out from Afentra ( (GB:AET) ).
Afentra plc has received formal approval for the Risk Service Contract for offshore Block 3/24 in Angola, marking its first offshore operatorship. The block, adjacent to Afentra’s existing interests, contains five established discoveries and offers significant development and exploration potential. Afentra will operate with a 40% interest, alongside partners Maurel & Prom Angola S.A.S. and Sonangol E&P. This development aligns with Afentra’s strategy to expand its production business in Angola, leveraging existing infrastructure for low-cost, short-cycle developments.
The most recent analyst rating on (GB:AET) stock is a Buy with a £54.00 price target. To see the full list of analyst forecasts on Afentra stock, see the GB:AET Stock Forecast page.
Spark’s Take on GB:AET Stock
According to Spark, TipRanks’ AI Analyst, GB:AET is a Outperform.
Afentra’s overall stock score is driven by strong financial performance and attractive valuation, indicating a solid investment potential. The technical analysis presents mixed signals, with short-term bearish momentum but longer-term bullish trends. The absence of earnings call and corporate events data does not impact the score significantly.
To see Spark’s full report on GB:AET stock, click here.
More about Afentra
Afentra plc is an upstream oil and gas company focused on acquiring production and development assets in Africa. The company aims to support a responsible energy transition in Africa by partnering with divesting international oil companies and host governments. Afentra holds interests in various blocks offshore and onshore Angola, as well as in Somaliland.
Average Trading Volume: 594,328
Technical Sentiment Signal: Sell
Current Market Cap: £94.31M
For detailed information about AET stock, go to TipRanks’ Stock Analysis page.