{"id":7301,"date":"2018-12-17T14:12:10","date_gmt":"2018-12-17T14:12:10","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=7301"},"modified":"2018-12-17T14:12:10","modified_gmt":"2018-12-17T14:12:10","slug":"wentworth-resources-relinquish-tembo-block-focus-mnazi-bay-asset","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-relinquish-tembo-block-focus-mnazi-bay-asset\/","title":{"rendered":"Wentworth Resources to relinquish Tembo Block To Focus on Mnazi Bay Asset"},"content":{"rendered":"

Wentworth Resources\u00a0has that it intends to\u00a0relinquish the Tembo block\u00a0with a planned effective date of 30 April 2019 ahead of the end of the current appraisal term on 15 June 2019 possibly after lacking a farm-in partner \u00a0to participate in the appraisal programme<\/a>..\u00a0The Company will also exit Mozambique, closing its Maputo office and shutting down activities in the Muxara and Palma camps concurrently, in order to focus on its core Mnazi Bay asset in Tanzania and its M&A led growth mandate.<\/p>\n

The Tembo Block which it operates has an area of approx. 2,500 km2 is in northeastern Mozambique, approx. 2,598 km north of Maputo and 120 km southwest of the Mnazi Bay field, in the onshore Rovuma Basin.<\/p>\n

The relinquishment of the Tembo block will release the Company from any further appraisal work programme obligations with no material costs foreseen ahead of relinquishment. Wentworth adds it is anticipated that the Company’s Intangible Assets which are attributable to the Tembo appraisal licence will be written down in full in the current financial year 2018.<\/p>\n

‘We have now completed a thorough technical and commercial review of the company’s asset portfolio and determined that our Tembo asset does not provide us with suitable monetisation solutions in keeping with our material growth mandate. We have appreciated the excellent relationships to date with ENH, the National Oil Company of Mozambique, and INP, the National Regulator, and will work hard to ensure an efficient and smooth transition period for all stakeholders. Our work both to maximise the potential of Mnazi Bay and to identify M&A opportunities to add material value continues apace and we look forward to updating shareholders on our progress in due course,’ said Wentworth CEO Eskil Jersing.<\/p>\n

According to earlier studies Wentworth Resources had put the resource\u00a0estimate<\/a>\u00a0restricted to the Tembo structure for the Tembo Structure is 1.7 Tcf (unrisked P50) with the significant oil shows in the\u00a0Tembo-1 discovery<\/a>\u00a0well also suggesting the potential for an oil case of 219 MMbbls (unrisked P50).<\/p>\n

The block is operated<\/a> by Wentworth Resources (85%) with Empresa Nacional de Hidrocarbonetos (‘ENH’; 15%) as a partner.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wentworth Resources\u00a0has that it intends to\u00a0relinquish the Tembo block\u00a0with a planned effective date of 30 April 2019 ahead of the end of the current appraisal term on 15 June 2019 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":7302,"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":[738,766,1608,1636,6418,2719],"class_list":["post-7301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-empresa-nacional-de-hidrocarbonetos","tag-enh","tag-mnazi-bay","tag-mozambique","tag-tembo-block","tag-wentworth-resources","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/12\/Tembo-Block-Mozambique.jpg?fit=399%2C542&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1TL","jetpack-related-posts":[{"id":6057,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-estimates-mozambiques-tembo-field-to-hold-1-7tcf\/","url_meta":{"origin":7301,"position":0},"title":"Wentworth Resources Estimates Mozambique\u2019s Tembo Field to Hold 1.7TCF","author":"","date":"June 13, 2017","format":false,"excerpt":"Oslo Stock Exchange listed independent and East Africa-focused oil & gas company Wentworth Resources has announced that an internal assessment of the prospective resource estimate for the Tembo Structure is 1.7 Tcf (unrisked P50) with the significant oil shows in the Tembo-1 discovery well also suggest the potential for an\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\/tembo-1.png?fit=460%2C327&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2939,"url":"https:\/\/www.oilnewskenya.com\/index.php\/drilling-ongoing-mb-4-development-well-mnazi-bay-block-tanzania\/","url_meta":{"origin":7301,"position":1},"title":"Drilling ongoing at MB-4 Development Well in Mnazi Bay Block Tanzania","author":"","date":"May 19, 2015","format":false,"excerpt":"Wentworth Resources has reported that the MB-4 development well that spud in March is ongoing with drilling operations expected to be completed in June or in 90 days as announced during the last update. The well which is expected to initially produce 20mmscf\/day (gross) is expected to be ready to\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":5862,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tembo-1-appraisal-well-drilling-planned-for-in-2018\/","url_meta":{"origin":7301,"position":2},"title":"Tembo-1 Appraisal well Drilling planned for in 2018","author":"","date":"April 10, 2017","format":false,"excerpt":"Rovuma onshore block operator Wentworth Resources has said it plans to drill Tembo-1 appraisal well in 2018 in the latest operational update. According to Wentworth Resources the reprocessing of approx. 1,000 km of existing seismic data is complete, interpretation is being finalized and results from the\u00a0Tembo-1 discovery well\u00a0have been fully\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\/tembo-1.png?fit=460%2C327&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2715,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-operational-update-east-africa-acreage\/","url_meta":{"origin":7301,"position":3},"title":"Wentworth Resources Operational Update on its East Africa Acreage","author":"","date":"March 17, 2015","format":false,"excerpt":"Wentworth Resources plans the commenced planning for drilling operations of the fifth (MB-4) development well which is expected to spud in March. The well which will complete in 90 days or June is expected to initially produce 20mmscf\/day (gross). Meanwhile the explorer has commenced design and construction of field infrastructure\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\/03\/wentworth-resources.jpg?fit=690%2C340&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/wentworth-resources.jpg?fit=690%2C340&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/wentworth-resources.jpg?fit=690%2C340&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2435,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tembo-1-well-plugged-and-abandoned-after-minimal-success\/","url_meta":{"origin":7301,"position":4},"title":"Tembo 1 well plugged and abandoned after minimal success","author":"Samuel Kamau Mbote","date":"December 29, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] After a number of delays Wentworth Resources has announced that drilling operations of the Tembo-1 well have now completed and with the well having reached to a total depth of 4,553 meters (4,401 meters True Vertical Depth Sub Sea) and reached TD in Jurassic aged sediments with petrophysical\u2026","rel":"","context":"In "New Discoveries"","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/tembo-1.png?fit=460%2C327&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3101,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wentworth-resources-estimates-3-5m-tanzania-monthly-gas-sales\/","url_meta":{"origin":7301,"position":5},"title":"Wentworth Resources Estimates $3.5m in Tanzania Monthly Gas Sales","author":"","date":"June 23, 2015","format":false,"excerpt":"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 only supplier of gas in Tanzania into new pipeline from 5 wells which will be producing in the field by\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\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=7301"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7301\/revisions"}],"predecessor-version":[{"id":7303,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/7301\/revisions\/7303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/7302"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=7301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=7301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=7301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}