Wentworth Resources Share Discussion Threads

[drdre] 01/8/2022 10:53

Thank you - I am with II so will give them a nudge

[boystown] 01/8/2022 09:02

Yes DrDre, I received mine on Friday (Hargreaves)

[drdre] 01/8/2022 08:52

Was expecting the dividend on Friday - has anyone received theirs as yet? TIA

[wbodger] 18/7/2022 18:55

mwj, Thanks.

[valmet] 18/7/2022 18:49

I'm pretty sure they're in negotiations for one operational ownership. Check out the video where Kathrine and Aaron are interviewed in June. Aaron's reaction when Kathrine asks him.

[wbodger] 18/7/2022 14:04

Any thoughts about the appointment of Leblanc as COO? He was appointed last November 4th after leaving Aminex. Hard to see what use he is to WEN when he could not forsee that the Scirroco deal would be pre-empted. Based in London too. Why?

[wbodger] 18/7/2022 13:51

That's not surprising with so many ears within earshot (TPDC, AEX, ARA, probably M&P). It is just surprising that Katherine didn't flag up the possibility.

The share price drop was somewhat explained by ex-div, which happened on Thursday 30/6. WEN always rises the full dividend ahead of Ex-Div and drops back after. The announcement about pre-emption was RNSed on 12th July. I guess the possibility of pre-emption was always factored into WEN, hence no big move. Katherine looks a bit naive.

[ntv] 15/7/2022 20:13

Can they make a higher offer for assets or do they only get one roll of the dice.
By the way the share price fell during the period prior to the last announcement somebody obviously knew they has lost the deal

[dbfromgb] 15/7/2022 10:19

No cap. Prior year average US CPI.

[gary1966] 15/7/2022 09:35

I don't know and so I have messaged the company and asked if there is any sort of cap as well.

[mwj1959] 14/7/2022 18:39

When does the annual inflation link price rise get calculated?

[gary1966] 14/7/2022 17:04

Looking fairly good for an 8-10% increase in the price that WEN will be getting for their gas next year, which will pretty much all fall to the bottom line.

[mwj1959] 13/7/2022 13:05

From Auctus report published earlier...

This pre-emption is subject to approval by the Government of Tanzania. In addition, Tanzania Petroleum Development Corporation (TPDC) has indicated that it is considering exercising its statutory right of first refusal in relation to the proposed acquisition. While TPDC is not a party to the operating agreement for the Ruvuma PSC, this statutory right supersedes the contractual pre-emption. • Given that the Al-Zubair family already controls 75% of Ruvuma (through Ara Petroleum and Aminex), Wentworth has been surprised by the decision of Ara Petroleum to exercise its pre-emption right that would give the family an effective 100% interest in the PSC. This would be unusual in oil and gas, particularly for such a strategic energy asset for Tanzania. • Given the profile of TPDC and the general limited appetite for appraisal risk from NOCs, there could be more here than meets the eye. • In any case, the interest from two parties in the terms of the transaction agreed with Wentworth highlights its accretive nature. • Pending further details and next steps, we re-iterate our target price of £0.45 per share.

[canigou2] 13/7/2022 12:43

Aminex are fully carried to production.

"Aminex 25% non-operated working interest fully carried to maximum net spend of $35 MM under Farm-Out(equivalent to $140 MM gross field)"

[gary1966] 13/7/2022 11:12

Their holding subject to the same pre-emption rights possibly?

[mjcferguson] 13/7/2022 10:51

Perhaps Wentworth could do a deal with Aminex to buy in.Aminex has no funds to finance
Rovuma.

[gary1966] 13/7/2022 10:20

No funds have been advanced re the loan.

From the RNS:

No payment under the loan facility arrangement has been made to Scirocco and no consideration will be due unless the Proposed Acquisition completes.

[ntv] 13/7/2022 08:44

Presume they will lose $250k as only part of the loan is refundable?

[mwj1959] 12/7/2022 19:01

So Ruvuma may not happen after all...disappointing both for shareholders and management. Lots of hard work for nothing, but I suppose It was always a (major?) risk given the potential of the prospect. Was that what the weakening share price was signalling? Share price now back below the level at which the deal was announced, but I suspect will weaken further from here. But even without Ruvuma WEN's fundamentals remain attractive given levels of cash, growing production and small mkt cap.

[ntv] 11/7/2022 13:55

weird price action, There are loads in Auction that the seller could have sold into but it appears they wanted to accept less
Hopefully the company has bought a chunk back at a low price

[my retirement fund] 11/7/2022 12:56

Viewpoint appreciated

[gary1966] 11/7/2022 11:08

Cash on hand of $26m and a lot of the acquisition price deferred. Cash increasing from production every day. I don't think they are foolishly throwing money around MRF.