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By the way...
The reason to delist WRL from Oslo is to only trade in one market. Any possible rally in Oslo has stopped because of arbitrage between the markets. It will also be easier to compare to similar companies, such as Aminex. Don't tell me that this is not relevant to Aminex.
Wentworth Resources As I found out when meeting with WRL in Cape Town recently, things are really beginning to pick up for the company and I suspect that this may be more than just one to watch. Today they provide 3Q results which in themselves are relatively meaningless but production numbers are positive and the direction is important. 60 MMscf/d from Mnazi Bay in Tanzania is the strongest in the company�s history and it puts them in a �dominant� position in the Tanzanian market place which has significant demand from power generators and industrial users. In a market that has a reduced supply of gas by peers, yet has demand coming through from K-2 and the Dangote Cement plant (which should add between 10-60 MMscf/d by the end of next year) the economics stack up pretty well. Regarding getting paid things are also looking up, admittedly receivables have �stabilised at 4-5 months� but TPDC are paying more and overall payments in the quarter were $5.18m and indeed a payment of $2.6m has recently been initiated by TPDC for the October invoice. Speaking with Vice President, Corporate Development, Katherine Roe today I got the impression that the movement is in the right direction and that the TPDC were making payments more regularly and of a bigger size than before. Re the company�s oil and gas concession in Mozambique things are also moving at a pace with drilling planned at Tembo-2 for 2Q 2018. I wrote in detail about this whilst in Cape Town but the prospects here are significant and with the distinct possibility of one or more industry partners joining WRL there is further upside potential. 2018 looks like being a landmark year for Wentworth and I for one will be watching most carefully.
WRL has 85 % interest in the Tembo block in Mozambique. If they get a farm-out partner they hope to be at least free carried in drills in that block. This will be next year. WRL talks very positive about this prospect. This drilling will be an appraisal well. The Tembo case is kind of a bonus that came for free when Anadarko and others pulled out. New analysis of old drilling and seismic is very encouraging they say. Apparently some of the interested farm-in partners is mouthwatering. The Mnazy Bay welds produce very well and demands increase. Q3 results November 14th will probably be the first blue ever. Dangote and Kinyrezi II will start taking gas in December/January.