Member Info for cperkin

Well I guess another Q&A is something but alas there will be nothing new to talk about or learn unless there is movement on the sale process before then, otherwise it's more of the same.

Hardly surprising some view points.

However, the BOD clearly can not deliver on their stated strategy without the sale of the Tanzanian Hydrocarbon assets, which are substantial and worth over 100% more than the current market cap, probably many more times post CH1 drill if you know anything about the basin.

There are a lot of meetings in Tanzania right now with all the Operators
https://tanzania.gazetiapp.one/pura-meet-noc-iocs-for-work-plan-and-budget-discussions-22846.html

https://dailynews.co.tz/news/2021-11-05618536344f581.aspx

It's sell or Drill folks and the Tanzanian assets are by many miles the most valuable on the books here and everyone who knows anything about it knows it.

Clocks ticking & good luck to those that actually hold not only a view point but shares as well.

I Agree with EB, shareholders prep now ready for the new year.

Don't hate them Dev, but same Mob m8 so DYOR

"BREAKING: The Hydrogen One sleaze scandal centred on David Lenigas & Disgraced Charlie Wood – a shocking read across from its little bastard brother Helium Ventures"

https://twitter.com/*************/status/1458405013789708288

Done exactly as they have promised? what spent £20 million of shareholders money and delivered 376 boepd of production in the last Quarter with a decline rate of over 19%

We need a significant increase in production numbers and the goal is 1100 boepd from the 2 wells drilled/drilling.

It is not clear why LeBlanc has been appointed so I will stick with what I do Know.

LeBlanc was employed by Aminex to drill Ruvuma and Kiliwani. He drilled one well in Ruvuma increasing the JV resources by 10 fold & post Farm-out he was to be transferred to ARA petroleum (Zubair corp) but has found himself at WEN.

SCIR have up to 25% of Ruvuma for sale and their 8 and a bit % or Kiliwani.
AEX have indicated that they do not see themselves as operator and have already farmed out 50% of Ruvuma to ARA with the operator status, suggesting that AEX have Kiliwani and Nyuni up for sale/Farmout .

Where all these cards fall is any ones guess but the appointment of LeBlanc suggest some additional role for WEN in Tanzania.

https://tanzania.gazetiapp.one/pura-meet-noc-iocs-for-work-plan-and-budget-discussions-22846.html

The General Manager of Mourel and Prom Mr. Nicholas Engel from (in deep blue suit at far right); The Country Manager of Wentworth Resources, Mr. Richard Taiton (in long sleeved white shirt); and Mr. Anatory Mweyo (with specs seated next to Taiton), the Project Manager from Mourel among others, listening to the Chair speaking in that meeing.

Thanks to POC on AEX BB

Thanks POC!!!

The General Manager of ARA Petroleum, Mr. Erhan Saygi (at the right donned in black suit) presenting the company’s performance for the year 2021 and work plan and budget for the year 2021. On the left are some of PURA and TPDC staff following the presentation.

This year’s meetings will see eight companies seeking the Authority’s approval of their plans, a critical step before implementing any activities in the subsequent year. These companies are Mourel and Prom Exploration Production T Ltd (Mnazi Bay and Bigwa Rufiji Mafia Blocks); PanAfrican Energy Tanzania Ltd (Songo Songo Block); Equinor Tanzania AS (Block 2); ARA Petroleum (Ruvuma Block); Swala Oil and Gas (Kilosa Kilombero Block); TPDC (Mnazi Bay North Block; Shell Exploration and Production Tanzania Limited (Block 1 & 4); Ndovu Resources Limited (Nyuni and Kiliwani North Blocks). The Ministry of Energy is taking part in these meetings as an observer and TPDC as a license holder, is a partner in every block and therefore appears in meetings for all blocks.
https://tanzania.gazetiapp.one/pura-meet-noc-iocs-for-work-plan-and-budget-discussions-22846.html

https://dailynews.co.tz/news/2021-11-05618536344f581.aspx

With thanks to POC

PMSL

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I agree steve, either they sell the Tanz assets for $20 million + before year end or they should be directed to the exit.

Morning steve, they clearly have nothing to say. Maybe they are busy playing Deal or No deal ;0)

Expansion into what is the question?

Sure is interesting. AEX want to be a non operator and WEN go and appoint a Chief Operating Officer when they have nothing to operate and he is the ex AEX Chief Operating Officer.

Morning steve, got to admit that appointment has me confused along with the WEN shareholders, as one put it this morning, "why do they need Chief operating officer, at a non-operating company?"

You better go tell that to the largest African development bank Dan, they seem ill informed compared to you ;0)

Natural gas remains key to Africa’s energy security and economic prosperity, according to the continent’s biggest development bank https://bloomberg.com/news/articles/2021-11-04/natural-gas-key-to-africa-s-energy-security-says-afdb-s-adesina

Thanks Mick, appreciate your thoughts. As it stand then it seems to make little sense appointing LeBlanc and adding more cost to the business, unless they are going to deliver on some growth?

That made me laugh Mick. Does this mean WEN are going to be drilling soon? Why else would they be increasing G&A with such an appointment?

Wentworth (AIM: WEN), the independent, Tanzania-focused natural gas production company, is pleased to announce the appointment of Mr Aaron LeBlanc as Chief Operating Officer of the Company, with immediate effect.

https://www.lse.co.uk/rns/WEN/appointment-of-chief-operating-officer-eo39kwn18x9lxy5.html

I think what will become important is where your gas is.

Africa has absolutely the right to develop it's gas assets for the benefit of it's people and to provide to the global market. It has contributed almost nothing to the 414 ppm of CO2 in the atmosphere unlike the developed economies and there seems to be a broad recognition of this right to supply whilst others stop. According to the ICCP report, 68% of coal, and 58% of Oil and gas reserves will need to stay in the ground to hit anywhere near +1.5 to 2 So which reserves will be left in the ground? The answer appears to be those in developed nations such as the North sea etc. That's some massive haircut to current developed O&G producers in terms of NAV

So I agree it will become much harder to fund developed countries O&G but almost perversely, easier to fund projects such as Ruvuma.

Anyway, I expect all hydrocarbons in all probability will be removed from this companies portfolio and the BOD will fulfil their strategy of European transition energy market assets, making this conversation one for the buyer.