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Stock impact report

Africa Energy Announces Third Quarter 2024 Results [Globe and Mail, The (Toronto, Canada)]

TotalEnergies SE (TTE) 
exploration company, announces corporate update and financial and operating results for the three and nine months ended September 30, 2024 View PDF version FINANCIAL AND OPERATIONAL UPDATE The Company's financial results for the nine months ended September 30, 2024 have been negatively impacted by a US$97.4 million non-cash loss on revaluation of our investment in Block 11B 12B , which was due to changes in base assumptions for discount rates applied in the discounted cash flow model for valuing our interest in Block 11B 12B At the end of June 2024 , CNR International ( South Africa ) Limited ("CNR") provided notice to the joint venture partners that it will withdraw from its 20% interest in accordance with the joint operating agreement in respect of Block 11B 12B , Offshore the Republic of South Africa ("JOA"). The Company was also advised that TotalEnergies EP South Africa B.V. ("TotalEnergies") was contemplating withdrawing from its 45% interest and contemplating resigning as Show less Read more
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