Wentworth Strategy Monetisation Near term commercialisation of existing gas reserves in Tanzania Take advantage of an immediate market for additional gas discoveries in Tanzania Monetisation Cash flow Generate free cash flow…
The Rovuma Basin A world class gas region with substantial upside potential Discoveries in the basin now total over 200 Tscf of recoverable gas The Rovuma Basin has attracted interest from the majors and national oil companies…
Wentworth Today Reserves valued at more than 2 times current market cap1 Wentworths share 2P reserves valued at 152.9 million NPV (10%) after tax Full field 2P gross reserves 443.0 Bscf (73.8 MMboe) Wentworths 2P Reserves gross 141.5…
2015 Value Drivers Contractual Execute agreed form of payment guarantee prior to the delivery of first gas Receive gas nomination date from TPDC expected March/April Development Commence drilling of MB-4 development well expected…
Route to Monetisation Supply-side secured Currently only supplier of gas in Tanzania into new pipeline Signed GSA and independently verified reserves available for production Limited additional infrastructure required to bring…
Government Pipeline Project Status Government-owned 36 pipeline from Mnazi Bay to Dar es Salaam 532km long, 784 mmcf/d capacity Financed by China Exim Bank / constructed by CNPC Project managed by Worley Parsons South Africa…
Market Demand Wentworth Gas supplier Wentworth plans to meet this demand Existing GSA covers the supply of existing reserves and up to 130 mmscf/d Opportunity to meet excess demand through exploration TPDC Gas aggregator Construction…
Wentworths Tanzania Acreage Mnazi Bay Partners Exploration Production Maurel et Prom (Operator) 60.075% 48.06% Wentworth 39.925% 31.94% TPDC is carried on exploration activities - 20.00% Onshore and near-shore acreage (756 km2)…
Mnazi Bay Exploration Near-term exploration potential 6 prospects identified 1.5 Tscf (614 Bscf Wentworths share) unrisked P50 Prospective Resources1 GPoS 15% 23%1 Exploration programme to be designed and undertaken commencing…
Mozambique Acreage Rovuma Onshore Partners Anadarko (Operator) 35.70% Maurel et Prom 27.71% ENH (carried on exploration) 15.00% Wentworth 11.59% PTTEP 10.00% Mainly onshore (11,950 km2) Exploration activity to date 4 wells…
Key Financials Revenue 2014 net income of 15.3 million 2014 gas revenue of 1.06 million, up 11% from 2013 Recognized a one-time, non-cash gain of 23.80 million for the reversal of previously impaired oil and gas assets in the Mnazi…
2015 A transformational year Step change to a production company First supplier of gas into new government owned pipeline Substantial cash flow generation commencing in Q3 2015 Tanzania exploration success has access to an…
Appendices
Reserves Summary Reserves Summary for Mnazi Bay as at December 31, 2014 Full Field Wentworth 31.94% WI Gross Reserves Gross(1) Reserves Net(2) Reserves Reserve Category Sales Gas BOE Sales Gas BOE Sales Gas BOE (Bscf) (MMbbl)…
Board & Executive Team Board of Directors Robert McBean, Executive Chairman Over 40 years experience in the upstream, midstream, and downstream oil and gas industries Former Managing Director of Qatar Fuel Additives Company (QAFAC), a…
Board & Executive Team continued Executive and Senior Management Team Calgary and London Geoff Bury, Managing Director Extensive oil and gas industry experience and strong petrochemicals project development and project management…
Board & Executive Team Cont. Executive and Senior Management Team Dar es Salaam Richard Tainton, Senior Vice President International 25 years of diverse experience with engineering projects around the world including gas and power…
Capital Structure AIM and Oslo listed Key Shareholders Ticker WRL AXA Framlington 9.4% Vitol 9.3% Shares outstanding RP McBean 5.8% Basic 154.1 million Bank Julius Bar 3.9% Fully diluted 169.1 million Hermes 3.7% Standard Life…
Loading...
