{"id":3101,"date":"2015-06-23T09:47:22","date_gmt":"2015-06-23T09:47:22","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3101"},"modified":"2015-06-23T09:47:22","modified_gmt":"2015-06-23T09:47:22","slug":"wentworth-resources-estimates-3-5m-tanzania-monthly-gas-sales","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-estimates-3-5m-tanzania-monthly-gas-sales\/","title":{"rendered":"Wentworth Resources Estimates $3.5m in Tanzania Monthly Gas Sales"},"content":{"rendered":"

Wentworth Resources says it estimates that monthly gas sales in Tanzania into new government owned pipeline Q3 2015 could reach an estimated $3.5m monthly.<\/p>\n

Initially Mnazi Bay will be the only supplier of gas in Tanzania into new pipeline from 5 wells which will be producing in the field by Q3 2015 at initial volumes of 80 mmscf\/d escalating to 130mmscf\/d in 2016<\/p>\n

Wentworth adds that the substantial cash flow generation is expected to commence in Q4 with the plan being to reinvest cash flows into Mnazi Bay and grow the business by maximizing production from existing discovered gas fields to meet the growing demand for gas in Tanzania and examining more drill exploration prospects.<\/p>\n

Already the company has identified six exploration targets with 1.5 Tscf (614 Bscf Wentworth\u2019s share) unrisked P50 Prospective Resources with all costs recoverable against existing and future production within the Concession<\/p>\n

On the way forward Wentworth says it will continue to focus on East Africa onshore and near shore,\u00a0 pursue acreage along pipeline route in Tanzania, evaluate Tembo-1 discovery Onshore Rovuma for potential appraisal and Expand operations in East Africa.<\/p>\n

As per the 17 year term gas sales agreement with the government the government is responsible for transportation and processing costs and payment guarantees are nearing finalization.<\/p>\n

As per the last independent evaluation<\/a> of its gas reserves within the Mnazi Bay Concession in Tanzania, carried out by RPS Energy Canada Ltd the value of Wentworth Resources at Mnazi Bay is set at$152.9 million after tax. RPS Energy also placed the value of the entire field at 443Bscf (2P) equivalent to 73.8MMboe.<\/p>\n

Wentworth holds a substantial 31.94 percent withholding interest in production equivalent to 141.5Bscf (2P) gross reserves.<\/p>\n

In October 2014<\/a> Wentworth Resources estimated its projects in Tanzania would make $20 million for first full year and $140 million over first 5 years of production net of operating and on-going development costs according to the October 2014 presentation.<\/p>\n

Wentworth holds 31.94% in the production stage down from 39.925% \u00a0while the operator and \u00a0Mnazi Bay Partner Maurel et Prom holds 48.06% down from 60.075% after the Tanzania Petroleum Development Corporation backed in to take 20% of production interests.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wentworth Resources says it estimates that monthly gas sales in Tanzania into new government owned pipeline Q3 2015 could reach an estimated $3.5m monthly. Initially Mnazi Bay will be the … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[961,1534,1608,1918,2466,2472,2504,2543,2719],"class_list":["post-3101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-gas-sales-agreement","tag-maurel-et-prom","tag-mnazi-bay","tag-onshore-rovuma-block","tag-tanzania","tag-tanzania-petroleum-development-corporation","tag-tembo-1-well","tag-tpdc","tag-wentworth-resources","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-O1","jetpack-related-posts":[{"id":6444,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mnazi-bay-q3-2017-gross-production-volumes-reach-60mmscfd\/","url_meta":{"origin":3101,"position":0},"title":"Mnazi Bay Q3 2017 Gross Production Volumes Reach 60MMscf\/d","author":"","date":"October 23, 2017","format":false,"excerpt":"Joint Venture partner at the Mnazi Bay license has reported that Q3 2017 gross production volumes from the Mnazi Bay gas field averaged 60 MMscf\/d, bringing the year-to-date average to 45 MMscf\/d. The partners expect that production volumes will continue at similar levels into Q4 with October 2017 month-to-date averaging\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/10\/mnazi-bay-pipeline.png?fit=437%2C531&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1547,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-anticipates-its-first-gas-delivery-from-tanzania-to-be-q1-2015\/","url_meta":{"origin":3101,"position":1},"title":"Wentworth anticipates its first gas delivery from Tanzania to be in Q1 2015","author":"Samuel Kamau Mbote","date":"August 4, 2014","format":false,"excerpt":"Wentworth resources which has interest in the Mnazi Bay concession expects its first gas delivery in the first quarter of 2015 according to a presentation made in June to investors. Wentworth says the delivery will be under take or pay agreement with delivery point adjacent to existing facilities. The delivery\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/songo-songo2.png?fit=465%2C546&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3110,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-raises-7-6-million-finance-tanzanias-mnazi-bay-developments\/","url_meta":{"origin":3101,"position":2},"title":"Wentworth Resources raises $7.6 million to finance Tanzania\u2019s Mnazi Bay developments","author":"","date":"June 29, 2015","format":false,"excerpt":"Wentworth Resources has announced that it has successfully raised gross proceeds of USD 7.6 million (GBP 4.9 million, NOK 59.7 million) with institutional investors and certain Directors and members of the Executive Management through a private placement of 15,412,269 new shares. The private placement saw no discount to market price\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/Wentworth-Resources.png?fit=375%2C286&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6159,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzanias-mnazi-bay-asset-gas-sales-reach-7-9-million-2017\/","url_meta":{"origin":3101,"position":3},"title":"Tanzania\u2019s Mnazi Bay Asset Gas Sales Reach $7.9 Million in 2017","author":"","date":"July 19, 2017","format":false,"excerpt":"Mnazi bay asset joint venture partner Wentworth Resources has reported that total cash received for invoiced gas sales from Tanzania Petroleum Development Corporation (TPDC) and Tanzania Electric Supply Company Limited (TANESCO) has reached $7.9 million in 2017 in today\u2019s update to shareholders. The amount includes the most recent payment of\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/01\/Mnazi-Bay-Concession.png?fit=448%2C554&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1656,"url":"https:\/\/www.oilnewskenya.com\/index.php\/2d-seismic-on-tanzanias-mnazi-bay-concession-set-to-be-complete-in-q3\/","url_meta":{"origin":3101,"position":4},"title":"2D seismic on Tanzania\u2019s Mnazi Bay Concession set to be complete in Q3","author":"Samuel Kamau Mbote","date":"August 21, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] The acquisition of 315km of conventional 2D onshore seismic data over the prospective areas of the Mnazi Bay Concession Tanzania is on program and is expected to be completed in Q3 according to Wentworth resources in its latest financial statements. The acquisition of the 2D onshore seismic data\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/mnazi-bay.png?fit=315%2C417&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3263,"url":"https:\/\/www.oilnewskenya.com\/index.php\/first-gas-delivery-new-transnational-pipeline-commence-tanzania\/","url_meta":{"origin":3101,"position":5},"title":"First gas delivery to the new transnational pipeline commence in Tanzania","author":"","date":"August 21, 2015","format":false,"excerpt":"Wentworth Resources has announced that gas deliveries have now commenced to the new transnational pipeline from the the Mnazi Bay joint venture in Tanzania. 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