Wentworth receives approval for appraisal asset in Mozambique

Wentworth Resources has secured approval from the Minister of Minerals and Energy for its appraisal asset in Mozambique.

Under the appraisal period for two years, Wentworth will become operator of the Rovuma onshore concession and increase its participation interest in the concession from the existing 11.59% to 85%.

State-owned Empresa Nacional de Hidrocarbonetos (ENH) will retain a participation interest of 15% as a carried partner through to the commencement of commercial operations.

ENH also has the right to acquire a further 15% interest in the concession from Wentworth within 18 months from the date of submission for a development plan.

Wentworth further plans to start implementation of a work programme this year with the reprocessing of about 1,000km of existing seismic data.

The company also plans to acquire a minimum of 500km of new onshore 2D seismic data beginning the second half of next year.

After identifying a suitable drilling location, the drilling of an appraisal well is anticipated to occur in 2018.

The Tembo-1 well was a milestone well for the Rovuma basin and drilled to a total depth of 4,553m into rocks of Upper Jurassic age.

The agreed appraisal area is located around the Tembo-1 discovery and measures about 2,500km².

Wentworth Resources executive chairman Bob McBean said: "I am very pleased to announce the receipt of Government approval for our operatorship and appraisal plan over the Tembo-1 gas discovery in Mozambique.

"With further power generation capacity still being installed, we are confident of the long-term growth prospects for Wentworth."