Tanzania’s Mnazi Bay Reserves Up 20% in New Evaluation
A new independent RPS Energy Canada Ltd. Calgary, Canada on behalf of Maurel et Prom (Operator) and Wentworth Resources has increased the (2P) reserves increased by 20%.
According to JV partner Wentworth Resources the results follow favourable data from the MB-4 well drilled during 2015 and which was drilled to a total depth of 2,788 meters penetrating the Miocene gas reservoirs with net pay of 24 meters (Upper Mnazi Bay) and 43 meters (Lower Mnazi Bay) for a total net pay of 67 meters.
Wentworth says the Reserves Report, further demonstrates the quality of the Company’s assets in Tanzania with the existing reserves providing a solid foundation to grow production from the Mnazi Bay concession.
“We are delighted that our updated CPR with the enhanced attributable reserves has so conclusively underpinned the core value of Wentworth. Production from Mnazi Bay continues to ramp up and we are greatly encouraged by the performance of our existing wells to date. Furthermore, in the current challenging climate within the oil and gas sector, we believe our core strategic focus on commercialising our gas in Tanzania is given further endorsement by the results of this report,” says Wentworth Resources Managing Director Geoff Bury.
Partners in the Mnazi Bay Concession are:
Maurel et Prom: 60.075% (Operator) through exploration; 48.06% production
Wentworth: 39.925% through exploration; 31.94% production
TPDC: 20% production