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WRL Wentworth Res.

21.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Wentworth Res. LSE:WRL London Ordinary Share CA9506771042 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 21.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Wentworth Share Discussion Threads

Showing 426 to 445 of 600 messages
Chat Pages: 24  23  22  21  20  19  18  17  16  15  14  13  Older
DateSubjectAuthorDiscuss
04/3/2016
15:02
a high quality comment, thanks for finding and to the author.
oregano
04/3/2016
14:26
A poster (mbolea, 29/02/16 16:08) on LSE posted this on Monday, which is at least plausible:

"To some extent I share the frustration that we didn't seem to make the expected deductions from TPDC share of revenues in Q4 and hence the receivable is not yet reducing. However, I don't think this should overshadow what else is going on. IT is a sensitive issue reporting on amounts owed by TPDC as the management do not want to do an ORCA and severely p*ss off the government by washing their dirty laundry in public. As long as the company will be confident that they will eventually collect the receivable, they will not make any provision (apart from discounting the amount to take into account the time value). If they do decide that the receivable is unlikely to be collected, they will have to make a provision, which would involve much more disclosure.

"What I took from the results and conf call was: ramp up is slower than expected, so now expect 70 mmscf/d from Q2 for the rest of 2016 - ramp up of power demand is slower than they had previously thought; TPDC has been paying for gas in a timely manner; they expect to collect $18 mill of TPDC receivable in 2016; expect cash to exceed debt in 2016 as Capex is limited; and, reserves are greater than previously thought.

"If our volumes do not hit the expected 70 mmscf/d in April 2016, then that is what I would be more worried about."

Incidentally p*ssing off deadbeat debtors is fine by me, although I get the point about involving more disclosures. Considerable discussion on Hegnar about whether Tanesco is itself being paid by its customers.

For me the takeaway from the conference call was that by the end of 2016 WRL expect to have as much cash in bank as the outstanding debt, but not much more than breezy assertions backing that up.

wbodger
03/3/2016
16:58
"There is much speculation over non-payment of WRL invoices, but the directors say that each invoice raised has been paid on time so why does this speculation continue?"

This is true so far of the invoices raised for gas sold into the new pipeline but the explanation in the final results surrounding the receivables suggest another story for pretty much everything else.

nehpets81
03/3/2016
04:06
Yes; It's a share for the brave. Happy to hold WRL.
I have spent some time in East Africa Rovmura area last year, I like then attitude of the people & like the story.
There is a big chance that construction of Fungi GTL plant will start later this year for export from the area in the future, but the fact that gas production of WRL is for domestic consumption is a major plus point for me. There is much speculation over non-payment of WRL invoices, but the directors say that each invoice raised has been paid on time so why does this speculation continue? The economies of countries that are producing their own energy needs are flourishing, taz and moz are starting from a low base but will IMO make good in medium term.

koolio
02/3/2016
16:52
"with other oil firms not wanting to explore then tanzania" I'm not really surprised about this since the national oil company won't pay for its part of the development expenditure, the national power company won't pay for gas supplied to its little power station and the government won't pay for past transmission and development expenditures. Added to this the fact the national oil company can now take a 25% interest in any project and the country seems like a nightmare to work in frankly. I'm surprised the pipeline has been delivered without much of a hitch tbh.

Anyway, does anyone have access to the Cantor Fitzgerald note? Their EPS figure of 0.27 and Pre-tax of £42.8M for 2017 I can see on Morning Star doesn't seem to add up?

nehpets81
01/3/2016
00:51
re my question in #370, I downloaded a dodgy MP3 of the Presentation including a Q&A period in which Geoff Bury confirms that all the invoices from August to January were paid on time.

Edit: a bit unkind of me to call it a dodgy MP3, since it may have been uploaded by a private shareholder, I just expected Wentworth to make their own Upload available. Anyway, if anyone has not heard it, it came from this:
hxxps://dl.dropboxusercontent.com/content_link/jb1yPfuc9V8HISO8iTDnLiyZZxxHVaVQlIvvOzlGTUn4qYV50AuQlpBHdQWhwbkJ/file?dl=1

wbodger
29/2/2016
00:13
The March oil stock challenge is on! Deadline for entries is midnight on Monday 29 Feb 2016. Good luck!!!

fb

flyingbull
25/2/2016
11:27
more info i guess at prsentation
ntv
25/2/2016
11:10
i think wentworth will get paid if not tanzania will have real problems in the financial mkts
plus tanzanian gov gets 20% back as it is part of the consortium
no news on current rates and time of increases has caused share price to slip back
we have to presume they are still running at 55 per day
with other oil firms not wanting to explore then tanzania will need these assets to give it the power it needs.
obviously lots of room to increase production when needed now the main capital works have been done. a pay down of debt before expansion will be good

ntv
25/2/2016
10:19
There is a reference on Hegnar by a poster who quoted this under the heading Tanzania Reserves Update:
"Payments for gas delivered during October 2015 to January 2016 were received within the agreed periods."

I can't find it, but if it's right it is good.

wbodger
25/2/2016
09:21
Aside from the welcome increase in reserves explained by favourable data from MB4 the following from the body of the Full Year Results improves the outlook (and the Balance Sheet):

"As a consequence of commencing deliveries of commercial quantities of gas under a long-term gas sales agreement and obtaining an independent reserve report for the Company's share of gas reserves in Tanzania, the Company recognized a non-cash deferred tax asset of $34.34 million during Q4 2015 and a non-cash impairment reversal of $23.81 million during 2014."

One omission for me, any reference at all to payments continuing as the pipeline continues to deliver gas to the power plants. We don't need a build-up of receivables but cash in the bank to service debt obligations. However GB is very upbeat on the improving financial position. Anyone have views?

These results evidently leaked in Norway - or maybe just speculation. Sp in Oslo recovered to August level earlier this week, after a decline.

wbodger
25/2/2016
08:11
Positive start to the day with good results and a 20% increase in P2 reserves.
888icb
24/2/2016
15:53
Figures Thursday?
koolio
24/2/2016
12:34
hxxp://dailynews.co.tz/index.php/home-news/45087-tanesco-directed-to-complete-kinyerezi-i-project-next-month
ntv
24/2/2016
10:22
UP another 4% this morning. Market Cap now £46.5 Million.
888icb
23/2/2016
22:30
Wentworth has had a good day moving up steadily during the day to end 6% up. It would be good to see this continue and for the market cap to get back to £50 million plus.
888icb
02/2/2016
08:50
The February oil stock challenge is still on....deadline for entries is midnight on Tuesday, i.e. tonight.
flyingbull
29/1/2016
13:02
Video interview with Finncap's Head of Research, Dougie Youngson



Dougie Youngson , Head of Research at Finncap, says the recent sell-off in the resources sector has been "indiscriminate" and has resulted in some good companies now being "seriously undervalued".

He explains that using Finncap's five key selection criteria, they have identified Wentworth Resources (LON:WRL) as one of these companies.

proactivest
15/1/2016
10:11
NTV

Capex likely to have fallen...agreed.

However opex ie costs involved with gas production are distinct (and separately treated in the financials in the P&L) from capex ie costs of adding assets (which are capitalised on the balance sheet).

sleveen
15/1/2016
09:35
would have hoped capex had dropped since 3rd quarter and no new developments needed going forward
ntv
Chat Pages: 24  23  22  21  20  19  18  17  16  15  14  13  Older

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