Wentworth releases its operational update for oil and gas

WentworthWentworth, east Africa-focused oil and gas company, has released it operational updated on 13 June 2017, announcing that the company is aiming to advancing its appraisal programme and to securing an industry partner to participate in an appraisal well, which is planned for Q2 2018

The operational update of Wentworth showed that the farm-out process for the company's Tembo-1 appraisal asset in northern Mozambique is currently underway, with the result-analysis of the Tembo-1 discovery well and the interpretation of the existing seismic data being completed.

Also, Wentworth has discovered a number of potential drilling locations in east Africa, and has started pre-planning for the work for appraisal well.

Geoff Bury, managing director of Wentworth, said, “We are very excited about being ready and in a position to advance the appraisal of the Tembo-1 discovery and feel confident that this exciting opportunity will attract an industry partner who shares our commitment to drilling an appraisal well next year.”

According to Wentworth, its internal assessment of the prospective resource estimate for the Tembo structure is 1.7tcf, with Tembo-1 discovery well suggesting a potential for an oil case of 219MMbbls.

The company said that it has also found a further upside potential in the 2,500 sq km Tembo block.

Apart from the operational updates, Wentworth announced that it recently received monthly invoices worth US$1mn from Tanzania Petroleum Development Corporation (TPDC) and Tanzania Electric Supply Company Limited (TANESCO) for gas sales from the company’s Mnazi Bay asset in Tanzania.

Wentworth added that the Mnazi Bay partners will continue to work closely with the Tanzanian government to settle other invoices as per the gas sale agreement with TPDC.

Bury remarked, “The payment received in Tanzania demonstrates the willingness to settle invoices when TPDC and TANESCO are in a financial position to do so. Along with our Operator, Maurel et Prom, we continue to work closely with TPDC and TANESCO to resolve the payment delays and clear all arrears.”

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?