Elanfan
22 Oct 2016
What's going on here! 5.6% increase in share price in a single day and I can find no share news, broker tips or forecasts. Ideas anyone?
DreamBeaver
16 Aug 2016
Quarterly Results RNS this morning & all looks good with regard to cash flow & future fundability. Major oil companies also sniffing around the potential.Geoff Bury, Managing Director, commented: "In Tanzania, Wentworth has seen significant growth in gas sales since the start of operation of the new pipeline in August 2015. This provides the Company with consistent cash flow to fund our ongoing activities, service our debt facility and to build cash reserves. As we continue to strengthen our balance sheet, we look forward to growing the Company without having to rely on the equity markets to do so.We are extremely pleased to have reached an agreement with the Government of Mozambique to increase our participating interest to 85% in the Onshore Rovuma Block, to be appointed Operator of the block and to have agreed an appraisal plan for the Tembo discovery. This expands our portfolio in the Rovuma Basin, a region that has recently seen significant interest from super-majors and national oil companies. As operator of this concession we have the ability to match the timing of the appraisal activities to our available cashflow and with our increased interest we have the flexibility to seek industry partners to participate in this appraisal plan."
Simbrad
22 Jun 2016
FirstEnergy Capital put out a note this morning on research tree.. "Market Reaction: slightly negative on the reduced production, however the gas acts as feedstock to two other power stations and we expect a limited impact on our valuation if the dispute is resolved soon as the Company expects. Clarity on the program in Mozambique is welcome news, particularly as there are no obligations. The shares continue to offer a combination of value and immunity to oil price movements."
Celticheart07
06 Jun 2016
Re: Gas Sales Agreement Actually it is Aminex, the operator, feeding the gas, solo are a minority partner in Tanzania
geldman
07 Apr 2016
Gas Sales Agreement I suggest you look at the Wentworth Resources website which has all the details of the GSA with the Tanzanian Government including the take or pay details. The gas flows are at a good level and Solo Oil in the next field have also just started feeding the pipeline to the capital.
MacPithy
06 Apr 2016
Anybody Here? Not many posts since 2015!Things may be looking up as not sure about whether Wentworth are actally earning revenue from any gas they are supplying.Any views are out there.
Old Ma Coni
16 Feb 2016
Greater Clarity in AIM Trades Copied from JR710 on the LGO board Correct reporting of share trades. This petition was stalled in parliament since beginning of Nov 15. The FCA don't even reply on the matter, now is your chance to have your say. 2535 signatures so far. Have you done your bit yet? Have you sent it to your contacts? [link]
Ocsenat1
09 Oct 2015
Hydro generators being switched off Local Tanzanian papers are today reporting that all hydro generation plants in Tanzania are being switched off because water levels are at historically low levels. There will continue to be blackouts until the gas generators are all fully operational, which is estimated to be Oct 20th.Clearly gas is now being sold by the Mnazi Bay partners, but it has taken longer to increase the pressure in the new pipeline than had been identified.The reliance on gas for electricity generation is only going to increase as time goes by.
II Editor
21 Aug 2015
NEW ARTICLE: Is Wentworth worth 100% more? "From its Mnazi Bay concession in southern Tanzania, LSE:WRL:Wentworth Resources has made its first gas deliveries to the transnational pipeline. Targeting production rates of 80 million cubic feet each day (mmscf/d) by the end of this year and ..."[link]
MacPithy
10 Jul 2015
Ref Aminex The BB lists info on pipeline testing with NG? by 29 July.Is this relevant to Wentworth and as GSA in place the PPI should be announced soon???
Iclaude
17 Jun 2015
Press Release PRESS RELEASE17 June 2015WENTWORTH RESOURCES LIMITED ("Wentworth" or the "Company"
Tanzania: MB-4 Drilling UpdateWentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, is pleased to announce the completion of drilling operations at the MB-4 development well in the Mnazi Bay Concession, southern Tanzania.The MB-4 development well, drilled to a total depth of 2,788 meters (True Vertical Depth Sub Sea) and is located approximately 800 meters from the MB-2 and MB-3 wells in the Mnazi Bay gas field, has crossed Miocene gas reservoirs with net pay of 24 meters (Upper Mnazi Bay) and 43 meters (Lower Mnazi Bay) respectively, both ranked among the best of the five wells drilled in this field to date. Pressure measurements have confirmed the lateral and the vertical connectivity of each reservoir.Within this well two reservoirs have been selectively tested at different two-hour stabilised flows with the Upper Mnazi Bay achieving a constrained flow-rate of up to 18.8 mmscf/day and the Lower Mnazi Bay of up to 22.2 mmscf/day. The table below shows the test results: choke (inches) 16/64 24/64 32/64 36/64 40/64 Upper Mnazi Bay Qg (mmscf/day) 3.9 8.7 14.7 18.8 - WHFP (bars) 173 172 167 165 - Lower Mnazi Bay Og (mmscf/day) - 9.2 15.7 19.3 22.2 WHFP (bars) - 176 171 167 163 The well will be connected to the production facilities which are currently being installed in the field, for start-up in Q3 2015. These results confirm the Mnazi Bay gas field's ability to produce output over and above the initial 80 mmscf/day, possibly up to 130 mmscf/day.MB-4 well was deepened to the Oligocene where it encountered high-pressure intervals of unknown origin.Wentworth has a 31.94% net interest in this well, which was operated by Maurel et Prom. Geoff Bury, Managing Director, commented: "We are extremely pleased with the outcome of the MB-4 well as the result confirms our reservoir model for the Mnazi Bay gas field. The success of the well not only provides further confirmation of the value of our discovered reserves in Mnazi Bay, but also provides additional flexibility for meeting gas delivery obligations agreed in our Gas Sales Agreement. We look forward to the start of production in the third quarter as a transformational step for the Company."-Ends-
olechr
22 May 2015
Re: Q1 conference call Thanks for putting this out for all of us that did not have the chance to follow the conference call
jergen
19 May 2015
Q1 conference call Today's Q1 2015 cc -- private recording: [link]
dickie3times
06 Apr 2015
Re: gas pipeline completed silly me, wrong link?[link]
dickie3times
06 Apr 2015
gas pipeline completed Construction of natural gas pipeline complete[link] Published on Wednesday, 25 March 2015 00:49 Written by NELLY MTEMA Hits: 1376 Ministry of Energy and Minerals spokesperson, Ms Badra MasoudMinistry of Energy and Minerals spokesperson, Ms Badra MasoudAS the construction of the 542-kilometre natural gas pipeline from Mtwara to Dar es Salaam is completed by 100 per cent, the government will be saving 1.6tril/- annually from purchase of heavy oil for electricity generation.Speaking to reporters in Dar es Salaam on Tuesday, the Ministry of Energy and Minerals spokesperson, Ms Badra Masoud, said the construction of natural gas processing plants at Madimba - Mtwara and SongoSongo Island - Kilwa are completed by 96 per cent.She said the natural gas processing plants will be done by November, this year and the delays are a result of rising tides which are threatening to wash away sections of the pipeline.Ms Masoud added that the project will help the country to fulfil some of the goals that are stipulated in the Tanzania Development Vision 2025 including the availability of a reliable electric power supply, expansion and increase of the industrial spectrum, cleaner environment, employment creation, extended natural gas usage, availability of clean water and the use of petrochemicals in Tanzania's industries.This is contrary to earlier predictions by the ministry that the 1.2 billion US dollars project was to be completed by the end of 2014.She added that completion of the project will catalyse the increase and expansion of industries which have already indicated dire need of the use of natural gas as energy substitute in running production plants and that reliable power supply will greatly reduce production costs, hence allow Tanzanian products become competitive and penetrate the world markets.Moreover, she outlined other benefits as promote cleaner production and environmental conservation as a result of the application of natural gas as source of energy to replace charcoal and firewood which have been the major sources of energy.Ms Masoud said people who reside where the gas pipeline passes will also benefit as they will pay only 27,000/- for electricity installation.
