Member Info for mick2020

No idea, I thought that Dangote had already started using gas: http://nigerianews.ca/dangote-powers-tanzania-cement-plant-gas-turbine/

It always amazes me that Aminex features so prominently in such articles; it could take years before they can produce from Ntorya. Smells quite strongly of marketing material unfortunately... The Mnazi Bay wells are fully hooked up and ready to flow at 100 MMscf/d if required, and with a cheap compression project this can be increased further to 130 MMscf/d, according to the latest CPR. Now that is news! All we need to do is wait, until the media finally discovers this...

It�s finally looking really good for WRL. We should expect increasing gas flow rates until Kinyerezi II produces about 150MW. (The last two turbines are steam turbines, converting heat to power). The nice thing about Kinyerezi I extension is that is not a combined cycle station, so all 185 MW will be generated by gas turbines. (The result is that Kinyerezi I extension will consume more gas than Kinyerezi II, i.e: 185 MW vs 150 MW). While 80 MMscf/d production is very healthy already, WRL truly becomes a cash cow at rates above 100 MMscf/d! Can�t wait to see that happen! http://csi.energy/project/kinyerezi-ii-combined-cycle-power-plant-240-mw/

Amazing that some people are prepared to sell their shares at this price. Will be interesting to see what happens next week. If this buyer continues the price must go up soon!

Very good news! Not unexpected of course, but nice to get confirmation that production is now at 80 MMscf/d. Payments should increase to 3.5 mln / month at this production rate, so looking forward to the first paid invoice! (In ca. 4 months time?) The discrepancy between actual company performance and valuation is growing, so no doubt there will be a sudden correction at some point.

Problem 4; the Tanzanian Natural Gas Utilisation Master Plan, issued summer last year, foresees a pipeline from Mtwara to Njobme (phase 1, see page 40-41), which will essentially pass by Ntorya. While some irrational decisions can always expected from TPDC, I very much doubt that they are mad enough to build a temporary pipeline for ~30 mln, which will be used for a year of 5 perhaps.... Much simpler would be to finally pay some outstanding Orca invoices, after wich Orca will surely be very happy to supply them more than Ntorya can even deliver!

Unfortunatey, I do not fully agree HY. While I agree that WRL is undervalued,and I do indeed expect a recovery relative to AEX, I do think that AEX is significantly overvalued. As long as AEX assets are stranded, a comparing reserves with WRL is simply misleading; you are comparing apples with pears. The AEX share price has little to do with it potential reserves, it is mainly based on false expectations and hype, in my view. WRL on the other hand is a forgotten share, and currently something like a phoenix rising from the ashes. It will take a lot of time still before people realise what the potential is of this company. So overall, I don�t think we should expect that WRL will ever reach a price as high as AEX has been in the past. I expect that WRL will slowly and modestly increase in price, while AEX will gradually decline.

Very good news! So we should now finally reach a cash flow of ca. $3.5 mln per month, as the company promised us in.... eh..... Q3 2015.... http://www.wentworthresources.com/pdf/Wentworth-Corporate-Presentation-September-2015-FINAL.pdf (See slide 6)

Hex, You are comparing 2P reserves with 2C prospective resources..... not quite the same... You can find the Mnazi Bay prospective resources here:http://www.wentworthresources.com/tanzania.php Mnazi Bay (100%, mean resources): 1.596 Tcf

Thanks Alph, Katherine told me the same: "Given that we receive a number of payments throughout each month, the Company has taken the view that, going forwards, it will be more consistent to announce at the beginning of each month (within the first week) the total cash receipts received during the prior month. This will enable us to capture all payments received in each month. In light of this, we will be announcing next week all cash receipts received during January"

Looks like the 3rd turbine at Kinyerezi II is up and running, the plant is now generating 75 MW. https://mobile.twitter.com/csienergygroup In open cycle I would expect that to equate to ca 15 MMsf/d gas consumption.... All from Mnazi Bay of course! :-) Total production now above 75 MMscf/d? I would certainly expect so....

LedZep, for fun I placed a order to buy 20,000 shares at 29p (you can never have enough shares of this one!). No luck yet, but will be interesting to see if the order gets filled.

PS: a post count of 999??? I hope to never reach that number to be honest! ;-)

Cperkin, I think Brexit is too far away to worry about at this stage. This year is the crucual year for WRL, with production ramping up, money coming in and an potentially very exciting farm out and appraisal well underway. I also think that McBean will pull out all the stops this year to increase the share price (possibly sell the company) so that he can start to enjoy his retirement.... I have no doubt that the HQ will be moved to London this quarter, which clearly is part of the plan.

What I really don�t understand with this company : why is it often so difficult to buy shares in the UK? Currently the price is determined in Olso and London just follows, very slowly. As long as this situation remains I can�t see a sudden big increase happening, as private investors simply can�t buy any shares! So frustrating this! What needs to happen to change this?

US$ 159.6 mln NPV..... an amazing number for a company with a market cap of ca. 71 mln US$, and, almost more important, a great confidence buider too, given that this is the third time that these numbers have been confirmed. And that�s even without Tembo.....

Lepzep, Unfortunately the stock is extremely illiquid in the UK, and it is quite often almost impossible to buy any shares. If I�m not mistaken you should be able to buy 7500 shares though? (the marketsize) I hold shares both in Norway as well, as it was impossible to buy a decent number in the UK. Let�s hope the market will improve the next few months.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=WRL&ArticleCode=42k67tq0&ArticleHeadline=Wentworth

Sound promising, I think he could be exactly the right guy to develop Tembo. - Geology/geophysics/seismology background - 30 years experience with very senior positons in a number of large companies: Enterprise, Shell, Marathon, Apache, Petrobras, all in exploration roles - Very experienced in exploration projects Africa And he knows stocktube as well.... (not sure if that is a bonus though...) Here's the man in action: https://www.youtube.com/watch?v=jx8kzOJjXto I do hope that he can show a bit more enthusiasm in future WRL videos though! ;-)

Bought my first shares in WRL in summer 2015. A long wait with endless delays for reasons out of WRL control, but I really think that the long waited producction increase is now finally happening. By the way, I made a mistake in my earlier post: to get a quick estimate of the net gas sales, you can assume it is about 75% of gross sales. (You can also multiplythe 3 monthly average production rate with 62 I think, which is even simpler)