Member Info for mick2020

Highyield, The original reserves estimate was 28 Bcf before production start. After nearly 1 1/2 years of production, the well must have recovered about 8 Bcf, so remaining reserves should be around 20 Bcf. Pressure testing (monitoring) will continue until December, so I actually think that it is unlikely that Aminex has written off reserves already. if I were an Aminex shareholder, I would still worry about future reserves write off's, but then, looking at their share price increase yesterday, the AEX shareholders seem to have been delighted by the news! Perhaps they expected worse? Very impressive.... absolutely amazing again!

9% of 15.3 mln is how much Cperkin? I’m sure you can do the maths yourself...if you really want to of course. Monthly income at 60 MMscf/d is more than 2.25 min....

Cperkin, Two quotes from your own posts in the last 24 hours: �I might still invest over there if the going looks good.....I like a bit of risk with upside it would seem� - you, commenting about WRL �Oh and one other condition - no de-ramping on the opponents board, it's just not cricket� - your comment this morning... The irony.... and nicely consistent, with your latest comment! NOT! You�re just an attention seeking wannabe... or even a real sociopath?

Great comments from Malcy! �The company are pencilling in further power plants with demand of up to 180 MMscf/d which is why there is so much excitement about the exploration upside of P50 resources of up to 1.5 TCF on the existing licence� �At the Tembo block in Mozambique WRL has 85% of either 1.7 TCF of gas or a possible 219m barrels of oil or both, as significant oil shows were monitored at Tembo-1� �This well could be a game changer for WRL and some very interesting names are having a nose around I understand� �It seems to me that things are looking up for WRL and that it would not take much for the market to reappraise its longer term value, with more payments, increased demand and upside from both Mnazi Bay and the Tembo block. Certainly one to keep firmly on the radar screen�

Thanks Jergen, I haven't followed the news from Tanzania very closely lately, and it almost sounded as if Dangote was planning to build another 60 MW powerplant (in addition to the ones already planned/constructed). But good to read that the gas turbines are expected to begin operating in January 2018 (despite the delay). With Dangote and Kinyerezi II starting up in the next 2 to 3 months, production from Mnazi Bay is basically guaranteed to grow significantly. Looks like very little can go wrong the next few months! Lots of good news to come! :-)

More good news for the Mnazi Bay partners! But where did you read that Dangote wants �to build a 60MW plant�? All the article states is that Dangote has applied for a 3 year power generation licence... (or did I miss something??)

- Production doubled from Q2 to Q3 (30.7 -> 60 MMscf/d) - Q4 production so far at 63 MMscd/d, and further big increases expected in the very near future! Will we hit 90 MMscf/d by summer next year? On top of that, a highly interesting farm-out ongoing in Mozambique that could add a lot of value to the company, perhaps even by the end of this year. All looking good now!! Finally, after so many years of delays.... When will the share price repond? It�s truly amazing how undervalued this company is....... especially compared to its peers in Tanzania, particularly Aminex (as far as you can call that company a peer)

Waste of time Josik to argue / discuss anything with the Aminex fan club.... They must be very frustrated to constantly read about imminent gas demand increases in Tanzania, knowing that Aminex won’t be able to supply any of it. Desperate times for these guys... so what better than to stick your head in the ground, and revel about past performance? Looking forward to the next 6 months!! 2018 will hopefully be WRL’s year!

Hi Mbolea, Unfortunately the only thing that makes WRL somewhat attractive in the UK is the ask price, which is currently still 8-9% lower than the price in Norway. But indeed, you won't get many I think, as there are just no sellers at the moment. Perhaps early in the morning is your best chance? (Buying ~ 7500 shares; the 'market volume'?) If you want larger numbers, just buy them in Norway (if you can). Let's hope that liquidity will gradually improve when the price goes higher the next few months.

Finally, WRL is moving in the right direction. With an expected production rate of 55-60 MMscf/d in Q3 (quarterly record), significant further growth in Q4 (with the start-up of Dangote and Kinyerezi II), and improving payments from TPDC, it is no wonder that the price is moving up quickly now. After the 7% increase in Norway today (1.1 million shares traded) AIM is however falling behind even further... The current ask price of 2.95 NOK in Oslo corresponds with 27.75p in the UK. In other words, WRL shares are currently traded with a discount of ca. 12.5%.... if you really can get them of course. It also means that the price is likely to go up further tomorrow! What would be a reasonable valuation of the company, with a net income of ca. US$ 2 mln per month, as expected in Q1 2018? With a market cap currently below 65 mln US$ (about 1/3 of Aminex), this company is still unbelievably cheap.... I think a doubling of the current price before the end of the year is certainly a realistic possibility, with further growth in Q1 2018 when the production hits 80 MMscf/d. If WRL also manages to farm out Tembo in Mozambique for a good price, the price with rocket.... Great times, finally, after years of waiting!!! 😊 Here's a good overview of the trades both in Oslo and London: http://www.wentworthresources.com/stock.php

Maybe you should ask some guys on Hegnar to buy shares in London! 😊

Jergen, I think you are right. After my order went through, for fun I tried to place another buy order, also at 23p. This time I couldn't, and I received the same error message as on Friday. I guess trading is simply blocked if liquidity becomes too low. Maybe the MM's had forgotten to increase the asking price (or turn on the block again after the weekend...) Note by the way that the current ask price of 24p in London is still an 8% discount compared to the price in Oslo!

Amazing... I even got them! With 1.1 million shares traded in Oslo so far today (5% rise), and possibly just a single real trade on AIM so far, one can only conclude that WRL is truly dead in the UK.... Does the Oslo listing reduce manipulation possibilities in the UK? Hence less support from MM's?

Placed a dummy order in London this morning: buy 9567 shares @ 23p. The order won't show up in the order list (because of the MM's). While I don't expect to get the shares (the real price must be higher now following the 8% increase in Oslo on Thursday, and further today), it is strange to see that orders get executed at 22.4p, well after I placed my order. I feel there is some serious manipulation going on in London. No wonder that there are no buyers in London anymore. Time to delist from AIM?

Jergen, Sorry, but I have no idea. That's not my area of expertise. I hold WRL shares both in the U.K and Norway, and for me, as customer, the process is identical.

I just couldn't place a real order, got an error message back. But it may have been a problem with my broker. Hard to understand though how the price in Oslo can go up with 8%, without any movement in th UK.

I wonder what's going on....can't even place a 'dummy' buy (10,000 shares at 23p) in London!

A trade? Trades in WRL in the UK have practically disappeared the last few months (strangely enough).. But with the price moving up nicely now in Oslo, it's only a matter of time before the price gets corrected.

Excellent price, and you even beat the ask price in Norway, which is very unusual!

Very good indeed. Must be one of the last three unpaid invoices (Jan-March), as it matches perfectly (in my model) with a production rate of 43 MMscf/d. Nice to know that the monthly payments will only increase further! Can't wait to see the Q3 production numbers. Could we have reached an average of 60 MMscf/d? And perhaps 80 MMscf/d in Q1 2018? Seriously undervalued this company!