Wentworth is pleased to announce the results of an independent evaluation of the gas reserves within the Mnazi Bay Concession in Tanzania, carried out by RPS Energy Canada Ltd. (RPS), Calgary, Canada.
This report marks a further significant shift in Wentworth's operational status, with independent reserves attributed to the Company's Mnazi Bay gas fields for the first time. Production in Tanzania is now imminent, as Wentworth has a gas sales agreement in place and the facilities required to produce these reserves are nearing completion.
Wentworth's Proved + Probable (2P) reserves is valued at US$152.9 million after tax (NPV10)
Proved (1P) - 89.2 Bscf gross (14.9 MMboe); 68.2 Bscf net (11.4 MMboe)
Proved + Probable (2P) - 141.5 Bscf gross (23.6 MMboe); 95.5 Bscf net (15.9 MMboe)
Proved, Probable & Possible (3P) - 226.6 Bscf gross (37.8 MMboe); 135.3 Bscf net (22.6 MMboe)