Wentworth Resources Granted Licence Extension For The Onshore Rovuma Asset In Mozambique

Wentworth Resources has announced that regarding the Company’s formal request of a one-year extension of the Onshore Rovuma asset in Mozambique Appraisal License, the Instituto Nacional de Petroleo (‘INP’) has granted the extension. The extension will take effect from 16 June 2018 and enables Wentworth, along with its partner Empresa Nacional de Hidrocarbonetos (‘ENH’), to continue to progress pre-drilling activities in the Tembo block.

The extension request was in part related to the above ground security situation in and around the Macimboa da Praia and Palma regions, adjacent to the Tembo block, which remain challenging. This according to Wentworth has prevented safe access to the area for Wentworth staff and contractors. And it continues to monitor the situation closely.

‘We would like to thank the Minister, INP and our partner ENH for their support in securing this extension to the Tembo licence, which gives us the time and flexibility to progress our operational activities on the block. We remain focused on securing an additional partner to share risk in unlocking the onshore potential of the Rovuma basin,’ said Bob McBean, Executive Chairman.

Wentworth had earlier said that it planned to spud Tembo-1 appraisal well in Q3 2018 subject to securing a partner. According to the operator in January design and procurement activities for the drilling of an appraisal well of the Tembo-1 gas discovery, were ongoing concurrent with the farm-out process to secure an industry partner to participate in the appraisal programme.

Wentworth Resources believes that resource estimate for the Tembo Structure is 1.7 Tcf (unrisked P50) with the significant oil shows in the Tembo-1 discovery well also suggesting the potential for an oil case of 219 MMbbls (unrisked P50).According to Wentworth Resources the estimates are restricted to the Tembo structure and not the 2,500 sq. km. Tembo Block.