|Wentworth Resources Ltd.
||COM SHS NPV (DI)
||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
Wentworth Share Discussion Threads
Showing 476 to 497 of 500 messages
|Q3 update due in about 3 weeks,should make interesting reading.|
|Could be, whatever it is long may it continue.|
|Perhaps the upcoming drilling by AEX is focusing peoples attention on this area again.|
|Yes nice and steady wonder if it's been tipped somewhere. Or maybe news coming unusual high volume yesterday|
|Moving up again this morning.|
|Been a long time waiting maybe some good news afoot ?|
|Volume of 2.3 million so far including a trade of 1.1 million shares.No news for some time. Interesting!|
|Big vols eh|
|Yes, the insiders who were trousering this a.m. probably|
|What is happening here? Does anyone have some information?|
|This wont move until the numerous power station issues are sorted.
I suspect Q3 production to be down on Q2.|
|888ICB yes large volume compared to normal. I wonder if we are finally going to see some action northwards. I remember reading somewhere a while ago that when this does take off it will take off quick. How true this is I don't know. Could do with a positive update about volumes etc|
|Some interest here since lunch time UP 4.6% on volume so far of 360000.|
|Wentworth has a BUY recommendation in tomorrow's IC. It will be debt free by the end of next year due to its income flow. It is trading at a 2/3 discount to NAV.|
|Some interest this morning with volume over 1 million so far and the last trade was at 27p which is UP 6.4%.|
|There is a conference call at 1pm to discuss the results as per the details in the previous RNS.|
|Wentworth Resources Limited
("Wentworth" or the "Company")
Q2 2016 Financial Statements and MD&A
Wentworth Resources Limited, the Oslo Stock Exchange (OSE: WRL) and London Stock Exchange (AIM: WRL) listed independent, East Africa-focused oil & gas company, today announces its results for the quarter ended 30 June 2016.
The following should be read in conjunction with the Q2 2016 Management Discussion and Analysis and Financial Statements which are available on the Company's updated website at http://www.wentworthresources.com.
Q2 2016 HIGHLIGHTS
Gas sales revenue of $3.43 million for the quarter, compared to $0.29 million in Q2 2015.
Net loss for the quarter of $0.17 million, compared to a net loss of $1.81 million in Q2 2015.
Exploration and development capital expenditures of $2.16 million compared to $9.35 million during Q2 2015.
Commenced repayment of existing debt facility with $1.0m principal repayment during Q2 2016.
Increase in cash and cash equivalents to $6.29 million at June 30, 2016 from $2.75 million on hand at December 31, 2015.
June 30, 2016 working capital was $7.28 million compared to $11.98 million at December 31, 2015.
Achieved average gross daily gas production for the second quarter of 51 MMscf/d compared to first quarter production of 48 MMscf/d.
Installation of remaining components of permanent field infrastructure was ongoing during Q2 2016 and is expected to be completed by the end of Q4 2016.
Received Mozambique Government approval of a two-year appraisal program for the Tembo gas discovery and increasing Wentworth's participation interest in the Tembo appraisal area of the Rovuma Onshore Block from 11.59 per cent to 85 per cent. Wentworth has been appointed Operator.
Commenced reprocessing existing 2D seismic data over the Tembo appraisal area as the first step in appraising the discovery.
Preliminary evaluation of the Tembo-1 well results and the regional seismic evaluation suggests the possibility of a substantial hydrocarbon accumulation.
Geoff Bury, Managing Director, commented:
"In Tanzania, Wentworth has seen significant growth in gas sales since the start of operation of the new pipeline in August 2015. This provides the Company with consistent cash flow to fund our ongoing activities, service our debt facility and to build cash reserves. As we continue to strengthen our balance sheet, we look forward to growing the Company without having to rely on the equity markets to do so.
We are extremely pleased to have reached an agreement with the Government of Mozambique to increase our participating interest to 85% in the Onshore Rovuma Block, to be appointed Operator of the block and to have agreed an appraisal plan for the Tembo discovery. This expands our portfolio in the Rovuma Basin, a region that has recently seen significant interest from super-majors and national oil companies. As operator of this concession we have the ability to match the timing of the appraisal activities to our available cashflow and with our increased interest we have the flexibility to seek industry partners to participate in this appraisal plan."|
|RNS out with Q2 financial highlights and updates on operations. All looks positive.|
|BBC NEWS Helium discovery a ‘game-changer’
28th June 2016
Scientists have discovered a large helium gas field in Tanzania. With world supplies running out, the find is a “game-changer”, say geologists at Durham and Oxford universities.|
|Lower gas flows for a while nothing to worry about still cash generative for new projects and getting paid as per agreement. Adding more at this level|
|The June oil stock challenge is on! Deadline for entries is midnight on Tuesday 31 May. Good luck!!!
The April results are shown here
|Well, here I am all excited about tomorrow's update but it seems not a share has been traded in the last week and nothing on the boards either. I will be happy if they have met the delivery and received the payments, value will always come out and there is plenty of value in WRL.|