Wentworth Share Discussion Threads

[ivor whopper] 23/7/2012 09:29

This should be in demand soon. everything is done wisely and the future looks very positive.

[wbodger] 16/7/2012 17:06

Shell backed off. Oh well.

[steeplejack] 28/6/2012 11:01

SueYou1- Have discovered that your email reply has been posted on the Xtrainvestor board....congratulations!

The shares have recovered nicely on the Oslo Bors over the last month,up a short 20% and this has been accompanied by a fairly steady climb in volume but over the last week,volume has barely got past 100,000 shares a day,ordinarily you might expect 200,000 and in headier days back in March when the shares were heading to 10 kroner,the volume was occasionally approaching a million and some days actually exceeded that total.Maybe the Norwegians have all gone on their long Summer hols,they do take very long breaks and deservedly given the oppressively dark winters.
Anyway,i'm reluctant to buy more 'til i see more buying interest in Oslo.I've never doubted the enormous potential this company has but i've also become aware of issues between WRL and it's operator M&P and have a rather uncomfortable feeling that everything gained by Wentworth appears to be achieved the hard way,if you know what i mean.No smooth sailing here.Nonetheless,these could be a steal at these levels i suspect.

[chrismez] 28/6/2012 10:42

TIDMAEX

RNS Number : 3003G

Aminex PLC

28 June 2012

Ntorya-1 Test Results

Ntorya-1 well tests gas at 20 million cubic feet per day

plus condensate

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces results of testing the gas discovery made in the Ntorya-1 well in the Ruvuma Basin onshore in southern Tanzania.

Testing of the Ntorya-1 well has now been completed. The upper 3.5 metres of the gross 25 metre sand interval was perforated and the well was flow tested on several choke sizes for extended periods over the last four days with corresponding shut-ins for pressure build-up data.

The well flowed gas at a maximum rate of 20.1 million standard cubic feet per day (the equivalent of 3,350 barrels of oil per day) and an estimated 139 barrels per day of 48 degrees API condensate through a 1" choke. Small volumes of formation water were also produced. The data gathered during testing indicates an initial reservoir pressure of 5,424psi. Detailed analysis of the pressure data and samples gathered during the testing operation will be carried out in the coming weeks.

The successful testing of this reservoir will be followed by a programme of seismic acquisition later in the year to gain a fuller understanding of the extent of this discovery and identify further drilling targets.

Aminex CEO, Stuard Detmer, commented: "Today's test results clearly demonstrate the strong commercial potential of the Ntorya discovery. The commercial potential is further enhanced by the presence of condensate with the gas and by the Tanzanian Government's announcement last week that it has secured financing to build a 36" diameter gas pipeline from Mtwara, just 25 km away from the Ntorya-1 discovery, to Dar es Salaam. The presence of liquids with the gas is promising for future exploration in the Ruvuma block. Aminex's upcoming seismic and drilling programmes will be aimed at appraising this discovery and pursuing a number of other very encouraging leads on the Ruvuma block."

Participants in the Ruvuma PSA are: Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.

[chrismez] 28/6/2012 10:36

28 June 2012

SOLO OIL PLC

("Solo")

Tanzania Test Results

Ntorya-1 flows 20 million cubic feet per day of gas and liquids

Solo today announces significant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania.

The well flowed gas at a measured rate of 20.1 million cubic feet per day (equivalent to 3,350 barrels of oil per day) through a 1" choke, with an estimated additional 140 barrels per day of 48 degrees API condensate. Original reservoir pressure was indicated at 5,424 psi and only small quantities of formation water were produced.

The uppermost 3.5 metres of the gross 25 metre (80 feet) sand interval was perforated and the well was flowed on several choke sizes from 16/64ths to 64/64ths of an inch over extended intervals during the last four days with corresponding shut-in periods to acquire pressure build-up data. Samples were also taken for further analysis which with the pressure data will assist in designing a future development programme.

The successful testing will now be followed by a programme of seismic acquisition later in the year in order to gain a fuller understanding of the size of this discovery and to identify further drilling targets. An independent reserves report on the Ruvuma PSA, commissioned in April following the discovery, is nearing completion and the findings of that report will be issued shortly.

Participants in the Ruvuma PSA are: Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.

Neil Ritson, Solo Executive Director, commented;

"We are delighted with these test result which confirms our expectation that commercial rates would be obtained. The presence of liquids (condensate) greatly enhances the economics of the discovery and provides further encouragement that oil may be discovered in the onshore basin.

The commercial potential is further supported by the Tanzanian government's recent announcement that it has signed a financing agreement to build a 36" diameter gas pipeline from Mtwara, 25 km away from the Ntorya-1 discovery, to the capital Dar es Salaam. The imminent construction of additional gas infrastructure will further add to the value of this discovery and the onshore Ruvuma as a whole."

[chrismez] 21/6/2012 17:28

News today from our neighbor ...


Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces an update on plans for testing the gas discovery made in the Ntorya-1 well in the Ruvuma Basin onshore in southern Tanzania.

As previously reported by Aminex on 27(th) February 2012, a gas discovery has been made in a 25 metre (80 foot) gross Cretaceous sandstone interval between 2,663 metres and 2,688 metres. This interval will be tested to establish the level of production that can be obtained.

The testing equipment has been set up on site and the upper 3.5 metres of net pay sand has been perforated. After an initial clean-up flow, during which gas was flowed to surface in order to clean the well, the well has been shut-in to install pressure gauges. The main flow test is expected to commence tomorrow and to take approximately four days to complete. Results will be announced following completion of the flow test.

Participants in the Ruvuma PSA are: Ndovu Resources Ltd (Aminex) 75% (operator) Solo Oil Plc 25%.

[chrismez] 21/6/2012 10:32

Thanks for that Bill - interesting presentation. Think I may contact the media people to ask them why WRL announcements are not being picked up by ADVFN. Also - have to say that this tiddler sitting between Aminex onshore and BG / OPHR offshore Block 1 - looks ripe for being snapped up.

[billbyrne] 21/6/2012 07:19

June presentation available

[cyman] 20/6/2012 18:39

great research Chrismez - funny how nobody ever mentions this little company. But then again we all know where great oak trees come from. They all started life as a little nut :-)

[chrismez] 20/6/2012 18:22

Well chaps I tink I may be able to answer my own question ...

This was posted on the LSE:AEX BB a few moments ago and may explain a nice little rise of the last two days

________________________________________________________


Tanzania Gas Reserves Estimate At 28.7 Trillion Cubic Feet On New Finds
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Today : Wednesday 20 June 2012


By Nicholas Bariyo

Special to Dow Jones Newswires

Major new natural gas discoveries in Tanzania have pushed the reserve estimates up to 28.7 trillion cubic feet from 10 trillion cubic feet, Tanzania's deputy energy and minerals minister told Dow Jones Newswires Wednesday.

These latest finds in the country's deep-water gas blocks are attracting new interest from a host of international oil companies especially as the bulk of the country's offshore and onshore gas and oil blocks are yet to be explored, Stephen Masele said.

"We are encouraging companies to maintain the current momentum in the gas and oil exploration sector," he said.

Last week's discovery of around 3 trillion cubic feet of gas reserves in block 2 by Norwegian oil company Statoil ASA (STO) and U.S.-based Exxon Mobil Corp.(XOM) has cut the risk.

Tanzania, which is slowly becoming a regional gas hub after a flurry of discoveries, has around a dozen deepsea blocks that are yet to be explored due to disputes over revenue sharing with the semi-autonomous archipelago of Zanzibar.

The U.S. Geological Survey estimates that East Africa's coastal region holds up to 441 trillion cubic feet of natural gas.

Tanzania is also trying to boost power generation at gas-fired thermal plants as it seeks to wean its electricity sector away from unreliable hydro power generation as well as the expensive diesel-fired thermal plants.

In January, the state power utility raised electricity tariffs by at least 40% citing higher generation costs due to the acquisition of emergency diesel-fired thermal plants. The increase mainly affected gold miners and other large industrial power consumers.

Currently, Tanzania uses around 200 million cubic feet of gas a day to run thermal plants, plans are underway to double gas production by the end of 2013, according to Mr. Masele.

Other oil and gas exploration companies operating in Tanzania include Canada's Orca Exploration Group Inc. (ORC.B.V), Australia's Beach Energy Ltd. (BPT.AU), France's Total E&P Activities Petrolieres and London-listed Aminex PLC (DOP.DB).

[chrismez] 20/6/2012 17:51

Long may this glitching thing continue - nice rise last couple of days.

Think we need some help here. Steeplejack - what are the jungle drums telling you?

[cyman] 20/6/2012 16:09

my apologies - I made a mistake - there are infact several computers all glitching at the same time now....

[chrismez] 20/6/2012 15:03

Well the computer must have heard the rumors then !

[cyman] 19/6/2012 19:21

nope - it can only be a computer glitch ;-)

[chrismez] 19/6/2012 13:19

Finally and at long last a wee bounce off the 40p level. News coming ?

[steeplejack] 24/5/2012 13:55

All very true.WRL seems far from lucky but we all know that one way or another you invariably make your own luck in life and this less than satisfactory relationship with operator M&P doesn't help the cause.I will continue to hold here on the basis that "even a stopped clock tells the right time twice a day".Perhaps that's a little harsh,but why can't Wentworth be more like Ophir!

[chrismez] 16/5/2012 10:07

Well FTJ - yet more good news from Block 1 today with OPHR hitting big for the fifth straight.

WRL is obviously sitting on an absolutely massive reservoir of gas - they just gotta get their drilling contractors sorted out and get the drills done and find the damn stuff.

Cant help thinking that if OPHR wasn't so busy with its 20 drills and also fending off the unwanted advances of BG that it would be snapping up WRL at these prices. Even at one quid WRL would be hugely cheap.

However, WRL will benefit from the comment today by OPHR that Block 1 is looking like it might become a LNG hub - if an LNG terminus is built right on WRL's doorstep that could be company making for WRL.

[funtimejonny] 16/5/2012 06:32

That is correct Chrismez (re M&P). The share price is looking a bit sickly ATM. Anybody know the timeframes for current programme of work-overs and drilling activity?
We could definitely do with some good news here. Wasn't so long ago that this was at 1.03.