Wentworth Updates Tanzanian Payments

Source: www.gulfoilandgas.com 10/20/2017, Location: Africa

Wentworth, the Oslo Stock Exchange and AIM listed independent, East Africa-focused oil & gas company, is providing an update to shareholders. The Company is pleased to confirm that it is continuing to work with both Tanzania Petroleum Development Corporation (TPDC) and Tanzania Electric Supply Company Limited (TANESCO) to maintain regular monthly payments of gas sales invoices with a focus on settling unpaid invoices from earlier this year. This is evidenced by payments received this week of $1.1 million net to Wentworth from TPDC and $0.4 million net to Wentworth from TANESCO.

The Company is also pleased to report 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. Production volumes have continued at similar levels into Q4 with October 2017 month-to-date averaging over 64 MMscf/d. We continue to maintain 2017 full year production guidance of between 40 and 50 MMscf/d.

For more information about related Opportunities and Key Players visit East Africa Projects


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