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Afentra shares climb on Angola well success
['Tue', 'August At Am Bst', 'Min Read']
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The well reached a measured depth of 5,381 metres and encountered 217 metres of gross hydrocarbon-bearing reservoir in the fractured Albian Pinda carbonate formation.
Initial pressure data indicated limited depletion and communication with the main Pacassa field.
Afentra is now completing the well for production, with first oil expected during the third quarter of 2026.
Afentra also completed its first operated offshore campaign on Block 3/24, inspecting four subsea wellheads for around US$60,000, compared with conventional market costs of US$500,000 to US$1 million.
Near-term milestones also include completion of the Etu transaction in Q3 and publication of half-year results in mid-September.