Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Good news that will have an immediate positive impact on revenue.
"We enable industrialization by providing affordable and reliable source of energy, Dangote cement industry has started to use natural gas to fire its kiln, this is on top of using natural gas to generate its own power."
https://twitter.com/TPDCTZ/status/1076738550471774208
Malcolm today. WRL from about 16:20
- Eskil is a 'very very smart cookie' and a fantastic hire for Wentworth
- He's not going to go there and not do anything
- Fantastic play (Mnazi Bay) Shareholders should be very happy in terms of what is going to happen here. Lots of upside potential.
- Tembo, huge potential, Mozambique is short of domestic gas, assess commerciality, little competition - and also zero exit cost.
- Agrees on the third leg. Wouldn't be surprised at some stage to see them doing a deal for a bit of production in a good environment.
- Katherine knows the business very well and is highly experienced.
- They've got cash, reducing debt, looks interesting.
https://audioboom.com/posts/6959402-ascent-resources-ast-and-malcy-on-solo-wrl-aex-iog-amer-hur-genl
From Dangotes presentation today: - Large infrastructure projects driving cement demand - Sales volumes up 25% - Gas genset expected in March - Kilns dual firing on coal/gas from Q2 2018 http://www.dangotecement.com/investor-relations/financial-reports/
Production from Ntorya may take at least a couple of years, according to Geoff Bury. (In Oslo this fall) AEX shareholders seem to underestimate the time and cost of bringing their gas to the market.
cperkin; As I see it: - Problem one; Aminex has huge upcoming expenses before they can commercialize Ntorya. More drilling + local infrastructure and local processing facilities is very expensive. Ask WRL shareholders... - Problem two; The waiting time before TPDC will see the benefit of and have the money to finance and build a pipeline to Madimba. - Problem three; Will TPDC finance a pipeline to Madimba without claiming a (20% ?) share of the license?
For those who are REALLY interested in WRL, there was a meeting at Hotel "The Thief" in Oslo last September. MD Geoff Bury answered questions an spoke for about 2 hours about MB and Tembo and a possible future. The long version: https://www.dropbox.com/s/09m02osew9grvv8/170914_WRL_Oslo_the_Thief_MB_Part_I.mp3 https://www.dropbox.com/s/43n421xp0h7uu8b/170914_WRL_Oslo_the_Thief_Tembo_Part_II.mp3 https://www.dropbox.com/s/zov4wnfdmkcb8h2/170914_WRL_Oslo_the_Thief_Tembo_Part_III.mp3 https://www.dropbox.com/s/l0ocu5dojwiipd4/170914_WRL_Oslo_the_Thief_Tembo_Part_IV.mp3 The short version: https://www.dropbox.com/s/d064km3uk6oq4ge/170914_WRL_Oslo_the_Thief_1bbl.mp3 https://www.dropbox.com/s/162xioxmipqptcp/170914_WRL_Oslo_the_Thief_About_survival.mp3 Enjoy :-)
You're welcome. :-) WRL has gained increased attention from Malcy over the last few months. More reading/listening: http://www.malcysblog.com/?s=wentworth&submit=Go
cperkin; Q2 is the rainy season. "Taking into account the seasonal variability of Q2 due to displacement hydro-electric power generation during the annual rainy season, as well as production from industry competitors the average production for the full year 2017 was 49.1 MMscf/d." http://www.lse.co.uk/share-regulatory-news.asp?shareprice=WRL&ArticleCode=9fj1vw92&ArticleHeadline=Wentworth_Resources_Limited__Operational_Update_and_2018_Production_Guidance
Bought my first shares in 2011 but have been without any over longer periods. Here's my model for production / income / cash flow. https://www.dropbox.com/s/qidecgz1c0hwv94/WRL-Cash_Flow_per_quarter_2016-2018-Estimates_per_Jan_2018.xlsx
The first of six turbines is expected to start up on December 7th. ...according to Acting Public Relations Manager TANESCO, Leila Muhaji, the pace of construction satisfactory and that in the first step TANESCO intends to incorporate the amount of electricity Megawati 30 on the National Grid by December 7, 2017... https://fullshangweblog.com/home/2017/11/25/umeme-megawati-30-kuingizwa-kwenye-gridi-ya-taifa-desemba-7-2017-ni-kutokana-na-kasi-ya-ujezni-wa-mitambo-kinyerezi-ii/
"Following up from its recent positive announcements WRL announce that they are restructuring and cutting costs by moving the head office nearer to management and its African assets to London. It may also re-domicile to a European country if appropriate terms were possible. Regrettably MD Geoff Bury is unable to move for personal reasons so the company is engaged in a search for a new CEO. These efficiencies and corporate cost savings make a lot of sense and as WRL turns the corner in both its African projects the company is set very fair going forward."
HighYeld. May be I misunderstand something? From todays MDA page 9: "Based on the Company�s internal estimates of potential gas sales volumes, the $20.59 million receivable as at September 30, 2017 is expected to be fully recovered by Q4 2018."
Here's my updated spreadsheet / model re. estimated cash flow. https://www.dropbox.com/s/22k9qo12homr5bs/WRL-Cash_Flow_per_quarter_2016-2018-Estimates_per_Nov_2017.xlsx
Debt is not a big issue and will be repaid as follows: Principal repayment date | Repayment amount Loan 1. June 30, 2017 $1,000 July 31, 2017 | $1,332 April 30, 2018 | $1,665 July 30, 2018 | $1,665 October 30, 2018 | $1,665 January 30, 2019 | $1,666 April 30, 2019 | $1,665 July 30, 2019 | $1,666 October 30, 2019 | $1,665 January 30, 2020 | $1,664 Total: $15,653 Loan 2. December 8, 2017 | $1,000 June 8, 2018 | $1,000 December 8, 2018 | $1,000 Total: $3,000 Page 10: http://wentworthresources.com/pdf/170809%20-%20MDA%20-%20Q2%202017%20-%20Post%20AC_Clean%20-%20FINAL.pdf Debt is repaid with TPDC receivables. ($23.6m at end of Q2) "In addition, Wentworth owns a US$27.155 million (as of December 31, 2016) receivable from TPDC, resulting from TPDC�s election to participate in the Mnazi Bay and Msimbati gas field discoveries in 2006, and representing TPDC share of past costs plus accumulated interest." Page 24: http://wentworthresources.com/pdf/Mnazi_Bay_Resource_Evaluation_v1605_20170308_03-2017.pdf
Wentworth Resources I met with Geoff Bury, MD and CFO Lance Mierendorf of Wentworth Resources who are in Cape Town at Africa Oil week. I will write in further depth later but my increasing confidence in the company was more than justified by the discussions we had. Recent announcements from the company have showed a significant increase in production from Mnazi Bay in Tanzania and whilst not getting carried away it does look highly promising. At present production is in the 60-70 MMscf/d range and growing... http://www.malcysblog.com/2017/10/oil-price-victoria-oil-gas-wentworth-resources-finally/
Wentworth Resources Good news from WRL this morning as it says that it is working with both the TPDC and TANESCO to maintain regular monthly payments and focusing on settling unpaid past invoices. As a result they have announced that this week TPDC has paid $1.1m and TANESCO $0.4m which is a big step in the right direction. As for production, news from Mnazi Bay is also good with Q3 production of 60 MMscf/d which ups the years average to 45 MMscf/d. With the October number being around 64 MMscf/d the year�s guidance of 40-50 MMscf/d day looks eminently achievable. See below for Africa Oil Week details but I have an interview booked with WRL which I will report back on asap, watch this space as the company is quietly building its strong position in Tanzania. http://www.malcysblog.com/2017/10/oil-price-jersey-oil-gas-president-energy-wentworth-resources-bp-finally/
Not listed here: http://wentworthresources.com/analyst.php finnCap, September 19th, 2017 Wentworth Resources Ltd logoFinnCap reissued their buy rating on shares of Wentworth Resources Ltd (LON:WRL) in a research note issued to investors on Monday. The brokerage currently has a GBX 55 ($0.74) price target on the stock. https://www.thecerbatgem.com/2017/09/19/wentworth-resources-ltd-wrl-given-buy-rating-at-finncap.html
Let's look at some real figures: Status H1 2017, $000 WRL: Cash | 3830 Receivables | 39680 Debt | -18650 Trade payables | -8234 SUM | 16626 AEX : Cash | 6913 Receivables |13490 Debt | 0 Trade payables | -12940 SUM | 7463 WRL is expected to be debt free in Q1 2020 based on the payment plan from the Q2 report. More details here: https://www.dropbox.com/s/2i274ffnf6b5rnu/WRL-Cash_Flow_per_quarter_2016-2018-Estimates_per_Sept_2017.xlsx
What about a recent analysis? Investment conclusion A recent CPR valued the Mnazi Bay assets at US$180.3m (NPV-10 for 2P reserves), within this economic analysis current producing 1P assets were valued at US$71.7m, which is the same as the current market cap of £55m. Given the fact that most oil companies are valued based on their 2P reserves there would appear to be a significant valuation anomaly here, with the CPR implying a value of 83p/share based. The market may be discounting for specific Tanzanian country risk. Even if we utilise a higher discount rate of 20%, according to the CPR this values 2P reserves at US$130.3m or 60p/share which is three times the current share price. http://www.hardmanandco.com/docs/default-source/company-docs/wentworth-resources-ltd-documents/wentworth-resources-oil-gas-investor-forum-june-2017.pdf