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It looks like Afentra shareholders will finally be rewarded with an asset that will have a big impact on the company - and hopefully the share price

By Gary Newman | Tuesday 12 April 2022

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Over the weekend reports emerged in the Angolan press that its national oil company, Sonangol, had finally completed the bidding process for the licences that it was selling its stakes in, and that a small AIM company, Afentra (AET), had been successful in being selected for two of these blocks. I’ve been invested in Afentra for some time – as well as having covered it positively several times here going back to the days when it was called Sterling Energy, and like many others have been patiently waiting for some news whilst the shares remained suspended. Due to the size of any transaction resulting from its bids, it will constitute a reverse takeover and the shares were suspended accordingly, and will remain so until either a prospectus is published or it terminates its bids for the Sonangol assets.

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