Member Info for alph

finally updated.
https://wentplc.com/investors/significant-shareholders/

No. of shares % of issued
AXA Investment Managers 17,788,000 9.5384
Vitol Energy 16,818,545 9.0185
Sustainable Capital Ltd. 15,061,171 8.0762
Invesco Perpetual Asset Mgt 9,698,097 5.2004
Robert P. McBean 9,605,385 5.1507
FIL Investment International 7,355,490 3.9442
Bank Julius Baer & Co (NOM) 6,206,960 3.3283

Insiders:
Robert P. McBean 9,605,385 5.1507
Cameron Barton 1,530,291 0.8206
John W.S. Bentley 368,202 0.1974
Iain McLaren 100,000 0.0536

Does anyone have the list for november 2018?

Last WEN-trade has been done in Oslo. London calling.

Last day ended at NOK 2.
140 trades.
With delisting finally history, I really hope for some fast recovery of WEN stock .

Broker upbeat, repeats ‘buy’ recommendation
Broker Peel Hunt repeated a ‘buy’ recommendation for Wentworth’s AIM-quoted shares with a 44p price target suggesting more than 100% from the current price of 20p per share.

“Wentworth will be largely debt-free by YE19, in-line with our expectations, as regular cash receipts continue and the business successfully de-levers,” the broker said in a note.

“With each passing month, therefore, Wentworth’s balance sheet continues to strengthen, which in turn provides management with increased capacity to pursue new inorganic growth opportunities.

“The company’s current market valuation, in our view, is anomalous and will not persist indefinitely.”

Up 11% at OSE today :-)

"It’s not often that AIM is home to a major supplier in a market seeing ‘ridiculous’ growth.

But with some confidence chief executive, Eskil Jersing can say that is where oil and gas junior Wentworth Resources Limited (LON:WEN) stands at present.

WATCH: Wentworth Resources' restructure allows 'easier execution of growth opportunities
Wentworth is now the number one supplier of gas for electricity in Tanzania from the Mnazi Bay field and demand is soaring.

New gas to power stations are ‘lining up to come onstream’, he says and that puts Wentworth in a fantastic position.

House broker Stifel agrees; “This is the number 1 marginal gas producer in a structurally growing energy market desperately short of gas.

“Even on our base case, the business can sustain production and generate average US$15-20mln pa of FCF [free cash flow] into the 2020s, against a current market cap of US$50mln.”

Even on the lower figure, a cash flow multiple of under four is low, anomalously so suggest Stifel.

“A 30% annual free cash flow yield across 2018-2020.”.......

https://www.proactiveinvestors.co.uk/companies/news/208313/wentworth-resources-in-prime-spot-as-demand-for-gas-in-tanzania-soars-208313.html

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil & gas company, was notified on the 5
October 2018 of the following transactions by a director of the Company:
On 4 October 2018 and 5 October 2018, Mr. Iain McLaren, Proposed Non-Executive
Director of the Company, acquired 100,000 common shares of no par value in the
Company ("Common Shares") at a price of 23.23p per Common Share. Following the
acquisition, Mr. McLaren has an interest in 100,000 Common Shares representing
0.05 percent of the Company's issued share capital

No Norwegian shareholders are forced to sell their shares. Its totally their own Choice.

AIM is a "new world" for most Norwegians and it create some more work regarding trading and tax issues. But in the long run, I think the action taken by new CEO will benefit us all. I defineately dont agree on the conspiracy theories that all this is a strategy to squeeze out minority owners.

The Company is pleased to inform shareholders that payments received during
August 2018 for gas sales generated from the Mnazi Bay Concession in Tanzania
totalled $3.4 million net to Wentworth. Payments were received from both
Tanzania Petroleum Development Corporation ("TPDC") and Tanzania Electric Supply
Company Limited ("Tanesco") for one month's gas sales to TPDC and two months'
gas sales to Tanesco.

The Company is also pleased to report that gross production volumes during
August 2018 from the Mnazi Bay gas field averaged 87.9 MMscf/d.

According to several newspapers in TZ, Dangote Mtwara officially started using natural gas today for electricity production.
https://twitter.com/TPDCTZ/status/1036272130441265153

Will add around 8 mmcsf/d in daily production from Mnazi Bay.
Average August production should be about 90 mmscf/d.

WRL has announced that, beside Katherine Roe, Iain McLlaren and Tim Bushell will join the board of directors. There is no doubt that all of them have a great CV and experience.

However, the board already counts 5 members. So far there is no information that anyone of them are supposed to leave.

Is 8 board members in a small cap company necessary? Those people definitely do not work for pocket money.

Could Sasol be among the handful of companies which has shown specific interest in Tembo?

http://cajnewsafrica.com/2018/08/15/sasol-ramps-up-investments-in-resources-rich-mozambique/

Regarding your first question, they have concluded on Norwegian forums that payments for June was received July 2, and therefore has to be reported in H2.

I do not disapprove your disapointment, I was just curious :-)

What in particular do you find disapointing?

https://drive.google.com/file/d/110qY5_X9YBMqnpGNEe0PJ05PUcyRCzIV/view?usp=sharing

http://hugin.info/136496/R/2205292/856740.pdf

LOWER COST PRODUCTION
• 81 mmscfd gross (Mnazi Bay) ca.4,300
boepd in Q2 2018
• Low cost. Long life reserves (2031)
• 45% of Tanzania’s Domestic gas needs
• Demand growth increased by 166% since
June 2017
REGULAR REVENUE PAYMENTS
• $16.1 MM paid year to date*
• Deleveraging balance sheet
UPSIDE POTENTIAL
• Unlocking Mnazi Bay reserves
• Tembo Mozambique gas discovery
SIMPLER & CHEAPER STRUCTURE
• Re-Domicile and transition progressing
through Q3 2018

RPS Canada updated CPRs for Mnazi bay and
Tembo (Reserves & Prospective resources) expected Q3 2018

Dangote Cement CNG – 8 mmscfd starting Q4
2018

Kinyerezi II (240MW)
− Six turbines commissioned between
December 2017 and September 2018
− Max Demand from facility 35-38 mmscfd

Notes from a 30-minute call on June 28th with Eskil Jersing, Wentworth Resources Limited (WRL’s) CEO.

In conclusion: The new CEO has a well thought-out development plan in mind for WRL. A follow-up sit-down meeting with the CEO and the Norwegian retail investors is being planned (…and we should ask for this to take place sooner rather than later). Eskil is open to a continuing conversation with and will listen to shareholder groups. I believe (moreover) that he will take requisite actions to create value for the company and its shareholders. I suggested that the sooner we see a bump in the share price the more comfortable and supportive shareholders will be. WRL’s share price dropped some 10% since the AGM; not the bump we had expected. Lastly, the Company intends to put an IR (Investor Relations) Pack (in effect a corporate presentation) out in the near term to update the shareholders on ongoing efforts in this new chapter of Wentworth.

Here are some highlights (my takeaway and interpretations from the conversation):

1: Unlock Values: Wentworth is a solid company, but there are many complexities. The market needs an update of value. The Mnazi Bay Concession, WRL Tanzania (alone) is worth (at least) some $150 million and (just for Tanzania) we see how undervalued the company is. Efforts will be made to reduce the gap between the company’s (book) value and (stock) market value, i.e. a valuation reset. There is a recognition that Wentworth’s communication with the market could have been better.

2: Significant resources: Wentworth has good relationship with all stakeholders in Tanzania. To develop this 'resource platform' further, WRL will need fresh capital, which reinforces the need to achieve a higher (a re-set) value of WRL; nobody benefits from a low (market) valuation of the company; a strong balance sheet reflected in (stock) market appreciation is essential.

3: Mozambique: The one-year extension that has been granted, but there are concerns about the security risk. WRL’s Mozambique assets are good, but the company will not proceed with drilling without a risk-sharing (farm-in) partner and is 'looking at solutions' for this.

4: A Third Leg: Looking (opportunistically) for a third leg (in addition to Mozambique and Tanzania) that will help grow the company and offset the (current) risk exposure.

5: Corporate: The Company realizes the need to sit down with the (Norwegian) retail investors (will visit Oslo soon). It was my understanding that there had been some contact with this group with concerns been voiced and noted by the CEO. The Oslo de-listing is part of an (ongoing) effort to cut costs and create better liquidity in the stock (I’m not sure how focusing on London AIM will achieve this). There is talk about “simplifying the corporate structure and creating a cheaper (less expensive) operating platform”. There will be a planned and gradual process towards putting in place new board of directors structure over the next

HY:

Has WRL ever been able to buy through aksjesparekonto? Thats new for me, at least.

I think WRL should at least show their shareholders that they are able to increase the amount of trades at AIM before they delist at OSE. Because now, I guess OSE has 90% of all trades in WRL.

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, today provides an update to shareholders. The Company is pleased to inform shareholders that payments received during May 2018 for gas sales generated from the Mnazi Bay Concession in Tanzania totalled $2.7 million net to Wentworth. Payments were received from both Tanzania Petroleum Development Corporation ("TPDC") and Tanzania Electric Supply Company Limited ("Tanesco") for one month's gas sales and two month's gas sales respectively. The Company is also pleased to report that gross production volumes during May 2018 from the Mnazi Bay gas field averaged 79 MMscf/d.

For what its worth - from his own Linked In profile: Responsibilities included the following: � Management of Country Office and operations all activities in Tanzania and Mozambique � Reporting directly to the Managing Director and the Executive Chairman in London, UK � Manage and supervise the Company's operations in both countries: Tanzania and Mozambique � Key company representative in negotiations and liaison with Governments of Tanzania and Mozambique � Company Representative at Technical (TCMs) and Operational Committee Meetings (OCMs) � Support the control environment by monitoring and managing in country costs. � Foster good relationships with partners and Government stakeholders in both Countries Main achievements to date: � Played key role in acquiring a 2-year Appraisal Program for Rovuma Onshore Concession in Mozambique � Established new office in Maputo, Mozambique: i.e. staffing, business licenses, banking, etc. � Brought gas to first production and revenues, after being stranded for 8 years in Tanzania � Negotiated Gas Sales Agreement (the first in 10 years) signed with the Government of Tanzania � Key negotiator in validating the inclusion of over $120 million cost pool items originally rejected the Nation Oil Company (TPDC). � Co-ordinated seismic tender preparations and scouting operations. � Worked with National Environmental Agency METADER in Mozambique to obtain Environmental License approvals for Wentworth � Co-ordinated procurement process for Drilling Rig, Casing and Tubing and Well Head in Mozambique � Continue to develop strong relationships with Government of Mozambique Institutions such as INP, ENH, Police and Army. � Played key role in negotiating the re-scheduling of Lender finance payments against the back-drop of a looming cash flow squeeze � Played key role in negotiating payment of arrears and receivables from Government owned enterprises for the supply of natural gas