Monday, October 23, 2017
Wentworth Resources confirmed that it is continuing to work with both TPDC and TANESCO, Tanzania’s state-run oil firm and state utility, respectively, to maintain regular monthly payments of gas sales invoices with a focus on settling unpaid invoices from earlier this year.
The company says this is evidenced by payments received recently of $1.1 million net to Wentworth from TPDC and $0.4 million net to Wentworth from TANESCO.
Wentworth also reported that Q3 2017 gross production volumes from the Mnazi Bay gas field averaged 60 Mmscf/d, bringing the year-to-date average to 45 Mmscf/d. Production volumes have continued at similar levels into Q4 with October 2017 month-to-date averaging over 64 Mmscf/d. It continues to maintain 2017 full year production guidance of between 40 and 50 Mmscf/d