November 2019
WENTWORTH
RESOURCES PLC
Sus ta ina b ly c o ntrib u ting to
Ta nza nia ’s Ene rg y la nd s c a p e
2
Disclaimer
The informa tion s et out in this pre s enta tion (the “P res enta tion”) ha s bee n produced by Wentworth Res ources Limited (the “Company” or “Wentworth”) as a t 18 Nov-19, a nd is be ing ma de availa ble to recipients for informa tion purpos es only. It does
not cons titute, nor is it intended to be a n offe r to s ell, or a n invita tion to s ubs cribe for, or purchas e any s ecurities in the Company. The informa tion s e t out in this P res e ntation has not been indepe nde ntly verifie d and ma y be s ubject to upda ting,
completion, re vis ion a nd a me ndme nt. The P re s e ntation doe s not purport to s umma rize a ll the conditions , ris ks a nd othe r a ttributes of a n inve s tment in the Compa ny.
The P re s enta tion and its contents are s trictly confidential and ma y not be re produced or re dis tribute d, in whole or in pa rt, to a ny othe r pe rs on. By receiving this P res enta tion you a cknowle dge tha t you will be s olely re s pons ible for your own
a s s es s me nt of the ma rket and the ma rke t pos ition of the Compa ny a nd that you will conduct your own analys is and be s ole ly res pons ible for forming your own vie w of the pote ntia l future pe rformance of the Company’s bus ines s . The dis tribution of
the P res e ntation ma y in ce rtain juris dictions be res tricted by la w. P e rs ons into whos e pos s es s ion the P res e nta tion ma y come a re required by the Company to inform thems elves about, and to comply with all applica ble laws a nd regulations in force in
a ny juris diction in or from which they inves t or receive or pos s e s s the Pres enta tion and mus t obta in any cons ent, approval or pe rmis s ion require d unde r the la ws a nd regula tions in force in s uch juris diction, and the Company s hall not have any
res pons ibility or lia bility for thes e obliga tions . No repres e ntation or wa rranty (e xpres s or implied) is ma de as to, and no relia nce s hould be place d on, a ny information including proje ctions , es tima tes , ta rge ts a nd opinions , contained he re in, and no
lia bility wha ts oever is a cce pted as to any e rrors , omis s ions or mis s tatements contained herein, a nd, accordingly, none of Wentworth or any of its dire ctors , office rs or employe es accept a ny res pons ibility for the information, s tateme nts , ma tte rs , fa cts
or opinions s ta te d he re in, or a ny lia bility wha ts oe ver a ris ing dire ctly or indire ctly from the us e of or a ny a ct or omis s ion unde rta ken in re lia nce on the P re s e ntation.
Ce rta in of the informa tion conta ine d herein ma y include forwa rd-looking s ta tements re la ting to the bus ines s , fina ncia l pe rforma nce a nd res ults of the Company and/or the indus try in which it ope ra tes . Forwa rd-looking s ta teme nts conce rn future
circums tances and res ults and othe r s ta tements tha t a re not his torica l facts , s ome times ide ntified by the words “be lieves ”, e xpe cts ”, “pre dicts ”, “inte nds ”, “projects ”, “pla ns ”, “es tima tes ”, “aims ”, “fores e es ”, “anticipates ”, “targets ”, “ma y”, “will”, “s hould”
a nd s imila r e xpres s ions . The forwa rd-looking s tateme nts conta ine d in the P res enta tion, including as s umptions , opinions and vie ws of the Company or cite d from third party s ource s a re s olely opinions and fore cas ts which a re s ubje ct to ris ks ,
unce rta inties and othe r fa ctors tha t ma y caus e actua l events to differ ma te ria lly from any a nticipated development. The forwa rd-looking s tatements in this P res e ntation are bas ed on certa in a s s umptions including but not limited to e xpecta tions a nd
a s s umptions conce rning prevailing and future commodity price s a nd e xchange ra te s , applicable royalty and ta x ra tes , future we ll production rates , the pe rformance of e xis ting and future we lls , the s ufficiency of budgeted ca pita l e xpenditures , the
ava ila bility and cos t of la bor, s e rvices a nd e quipment, ade qua te we a the r a nd e nvironme ntal conditions and ability to s ucces s fully cons truct or e xpand fa cilities . None of the Company or a ny of its s ubs idia ries or any dire ctors , office rs or employees
the reof provide any a s s ura nce tha t the a s s umptions unde rlying s uch forwa rd-looking s tateme nts a re free from e rrors , nor do a ny of them accept any res pons ibility for the future accuracy of the opinions e xpres s e d in the P res enta tion or the a ctua l
occurre nce of the fore cas te d developments . Given thes e unce rta inties , pros pective inves tors are cautioned not to pla ce any undue reliance on s uch forwa rd-looking s ta teme nts . Ne ithe r the Company nor its directors or officers as s ume any obliga tion
to upda te a ny forwa rd-looking s ta te ments or to conform the s e forwa rd-looking s ta te ments to the Compa ny’s a ctua l re s ults .
AN INVES TMENT IN THE COMP ANY INVOLVES RIS K, AND S EVERAL FACTORS COULD CAUS E THE ACTUAL RESULTS , P ERFORMANCE OR ACHIEVEMENTS OF THE COMP ANY TO BE MATERIALLY DIFFERENT FROM ANY
FUTURE RES ULTS , P ERFORMANCE OR ACHIEVEMENTS THAT MAY BE EXP RES S ED OR IMPLIED BY S TATEMENTS AND INFORMATION IN THIS P RES ENTATION. S HOULD UNDERLYING AS S UMP TIONS ON WHICH THIS
P RESENTATION IS BAS ED P ROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOS E DES CRIBED IN THIS P RESENTATION, AND INVES TORS IN THE COMPANY MUS T BE PREPARED TO LOSE ALL OR PART
OF THEIR INVES TMENTS . THE COMP ANY DOES NOT INTEND, AND DOES NOT AS S UME ANY OBLIGATION, TO UP DATE OR CORRECT THE INFORMATION INCLUDED IN THE P RES ENTATION.
Ce rta in informa tion on a non-e xha us tive lis t a nd s umma ry of a s s umptions a nd ris k factors tha t could a ffect the ope ra tions or financia l res ults of Wentworth a re include d in Wentworth’s corpora te filings which a re available on its we bs ite at
www.we ntplc.com. This document is be ing dis tributed to, and is directe d only a t: (i) pe rs ons in me mbe r s tate s of the Europea n Economic Are a (“EEA”) who a re “profes s iona l clients within the me aning of Pa rt I and II and Anne x II of the MIFID
directive (dire ctive 2004/39/etc.) (“profe s s ional clients ”); or (ii) pe rs ons in the United Sta tes who a re “qualifie d ins titutiona l buye rs ” as defined in Rule 144A unde r the U.S . S ecuritie s Act of 1933, as ame nde d (the “Se curities Act”). Any pe rs on in the
EEA who re ce ives this document will be deemed to have repre s ente d and a greed tha t the y a re a profes s ional client. Any s uch re cipient will a ls o be deemed to have repres e nted and agre ed tha t the y have not received this document on beha lf of
pe rs ons in the EEA othe r than profes s iona l clients or pe rs ons in the Unite d Kingdom and othe r member s ta tes (whe re e quiva lent legis lation e xis ts ) for whom the inves tor has authority to make de cis ions on a wholly dis cre tiona ry bas is . The Company
a nd its affilia tes and othe rs will re ly upon the truth a nd accuracy of the foregoing repres e ntations and a greeme nts . Any pe rs on in the EEA who is not a profes s ional clie nt s hould not act or rely on this document or a ny of its conte nts . With res pect to
the Unite d Kingdom, the informa tion s e t out in this P res e ntation has not bee n written or a pproved by an authorize d pe rs on (a s defined in the United Kingdom Fina ncia l Se rvices and Ma rke ts Act 2000). It is cons ide re d by the Company tha t the
communication of the P res enta tion will be e xempt from the financia l promotion res triction (as defined in S ection 21(1) of the Financia l Se rvice s a nd Ma rke ts Act 2000, as ame nde d) purs uant to Article 69 of the Fina ncial S e rvices and Ma rke ts Act
2000 (Financial Promotions ) Orde r 2005 (the “Orde r”), as the Compa ny’s s ha res a re admitted to trading on the London S tock Excha nge ’s Alte rna tive Inves tme nt Marke t (AIM). Any inves tment or inves tment a ctivity to which this document re la tes is
only available in the United Kingdom to s uch pe rs ons as a re pe rmitted unde r the Orde r (“Relevant Pe rs ons ”) and will be engaged only with s uch pers ons within the United Kingdom. Pers ons who a re not (within the United Kingdom) Relevant P e rs ons
s hould not in a ny circums tances re ly on this P res e ntation. The contents of the P re s entation a re not to be cons trued a s lega l, bus ines s , inves tme nt or ta x advice . Each recipient s hould cons ult with their own legal, bus ine s s , inves tment and ta x a dvis e r
a s to legal bus ines s , inves tment a nd ta x advice . By receiving the P re s enta tion you acknowle dge tha t you will be s olely res pons ible for your own a s s es s ment of the ma rke t a nd the marke t pos ition of the Company and tha t you will conduct your own
a na lys is a nd be s ole ly re s pons ible for forming your own vie w of the pote ntial future pe rforma nce of the Compa ny’s bus ine s s .
The s e curities me ntioned herein have not been, and will not be, re gis te red unde r the S ecuritie s Act or unde r a ny U.S. s ta te s e curities la ws , a nd ma y not be offered or s old in the United S ta te s unles s the y a re re gis te red unde r the S ecuritie s Act or
purs uant to an e xe mption from or in a trans action not s ubje ct to the re gis tration re quireme nts of the Se curitie s Act. The s ecurities have not been approved or recomme nded by the U.S. S ecuritie s a nd Excha nge Commis s ion nor any U.S . s tate
s e curities commis s ion or re gula tory a uthority, nor ha ve a ny of the fore going a uthorities pa s s e d on the a ccura cy of this P re s e ntation. Any re pre s enta tion to the contra ry is a crimina l offe nce.
The informa tion conta ined in this P re s enta tion doe s not cons titute or form pa rt of, a nd s hould not be cons true d as , a n offe r or invita tion to s ubs cribe for or purchas e the s ecurities dis cus s ed he re in in any juris diction. This P res enta tion is s ubject to
Englis h la w, a nd a ny dis pute a ris ing in re s pe ct of this P re s e ntation is s ubject to the e xclus ive juris diction of the Englis h courts .
If you ha ve re ce ived this P re s e nta tion from a nyone othe r tha n the Compa ny, your re ce ipt is una uthoris ed. P le a s e re turn this docume nt to the Compa ny imme diately.
2
Wentworth Resources: East African focused, domestic gas led E&P Company
Sustainable Tanzanian
Pure play East Capital
energy domestic gas
African focus discipline
supplier production
Provid ing a c c e s s to • Mna zi Ba y a s s e t • AIM lis te d (W EN) £0 .17 • H1 20 19 re ve nue s of
a fford a b le a nd re lia b le $ 8.0 2m m (20 19e FCF
• De m a nd le d la nd s c a p e • Ma rke t Ca p £32MM,
yie ld >15%)
d om e s tic g a s , vita l for • 70 .35 MMs c f/ d (g ros s )1 US$ 42MM 4
Ta nza nia ’s a tta inm e nt • US$ 14m m c a s h 2
• Stro ng Ins titu tio na l
of s oc io-e c onom ic • Sta b le c a p e x & low
re g is te r • Ta rg e ting d e b t fre e
op e x of $ 0 .6 4 / Ms c f
d e ve lop m e nt g oa ls • Ne a r te rm E&P
p os ition Q1 20 20
• 2P re s e rve s of 10 0 Bc f3
Ca ta lys ts -Op p ortunitie s • Re tu rning c a s h to
• 2P NPV15 of 10 6 m m 3 s ha re hold e rs - Ma id e n
• Re g io na l Ga s Cha m p io n
• C.1.5Tc f unris ke d up s id e d ivid e nd c .6 .7% yie ld
a s p ira tion
on b loc k 5
1 Avg. dailyproduction to 31Oct-19
2 Gross cash as at 31Oct-19
3 RPSCanada CPR31Dec-18 (after tax .)
4 18 Nov-19
5 Management estimates 3
Simpler platform, robust fundamentals
Average daily production YTD
MMscf /d (gross) 1 G&A (US$ mm)1 Debt (US$ mm) 1
90
80
25.00
70 8
60 20.00
50 6
15.00
40
4
30 10.00
20 2 5.00
10
0 0 -
2014 2015 2016 2017 2018 31/10/19
23/10/2019 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019
Tightened Guidance Range 68 -72 MMscf/d (gross) Reduced G&A with simplified platform Targeting to be d ebt free Q1 2020
Opex (US$ / mscf) Revenues (US$ mm) Cash (US$ mm)
12.81 15.00
12.00 20.00
10.00
15.00 10.00
8.00
6.00 10.00
5.00
4.00
2.28 5.00
2.00 0.92 0.84 0.44 0.64
- -
-
2014 2015 2016 2017 2018 H1 2019 2014 2015 2016 2017 2018 H1 2019 2014 2015 2016 2017 2018 H1 2019
High margins (@$3.19/mcf) 2019 Completion of Ziwani “carry” repayments Gross cash c.$14m at 31 Oct- 19
1 Management estimates for YE 2019
4
Ta nza nia , Mna zi Ba y
Mnazi Bay & Msimbati gas field(s)
Long life m a te ria l a s s e t in s urg ing d e m a nd d rive n la nd s c a p e
Mnazi bay
Mnazi Bay Maurel & Wentworth TPDC • 2P g ros s re s e rve s s a le s c a s e of 482 Bc f (76 1 Bc f 3P)*
Prom (Op.)
• Cum ula tive p rod uc tion to 15 Se p t-19 93Bc f
Pro d u c tion 48 .0 6 % 31.94% 20 %
Exp lo ra tion 6 0 .0 75% 39.925%
• 5 p rod uc ing we lls , 4 Ga s W a te r Conta c ts –c om ing le d p la te a u ra te s of 90 MMs c f/ d
• GSA of up to 130 MMs c f/ d (COD s ig ne d Se p t-19)
*RPS Competent Persons report 31 Dec-18 • De ve lop m e nt lic e nc e e xp iry 25 Oc t-31
6
Mnazi bay gas production
MB-2 PARTLY
OFFLINE
RAINY SEASON DUE FLOWLINE
86.3 87.3 (HYDRO) & APR-19 RUPTURE
82.0 SONGO SONGO GSA
76.2 77.9
73.7
60.0 62.2
58.7
Gas Production in MMscf/day
RAINY
43.3 SEASON
(HYDRO)
30.9
Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019
Series1 43.3 30.9 60.0 62.2 76.2 82.0 86.3 87.3 73.7 58.7 77.9
7
Supply -Demand to NNGP
Ele c tric ity d e m a nd g ro wing a t c .8% / p a s inc e 20 0 4 (TANESCO)
Mtwara
(300MW - 50 MMscf/d)
c.160 MMscf/d Today
vs. 2x demand
forecast in c.3 years
Songas (189MW) Somanga
Ubungo 1 (105MW) (300MW - 50 MMscf/d)
MMscf/d
Ubungo 2 (129MW) DOMGAS
Mtwara (22MW) SHORTFALL
K-1 (180MW) K-1 ext
K-2 (240MW) (180MW, 30.5
Somanga (8MW) MMscf/d)
Dangote Power (45MW)
Goodwill (6MW)
8
Mnazi bay, Tanzania
Four va lu e c a ta lys ts to a 130 MMs c f/ d GSA 20 22 p la te a u a nd unris ke d p ros p e c tive re s o u rc e s o f ~1.5 Tc f 1
NNGP inlet pressure reduction – phase I achieved April 2019
95 b a r to 8 5 b a r – s e e king fu rthe r re d u c tio n to 75 b a r
Pro d u c tio n p la te a u e xte ns io n u p to 5 ye a rs b e fo re c o m p re s s io n (inc lu d ing s lic kline & c ho ke s u p g ra d e )
Ac c re tive to c o re NAV (1P & 2P)
Full Gas Sales Agreement to 2031 with TPDC achieved September 2019
Co m m e rc ia l Op e ra tio ns Da te (COD) – ne g o tia ting fina l te rm s
Ba nka b ility, Cre d ib ility, & Sta b ility – u nd e rp ins no m ina tio ns , d e m a nd s ta b ility, g ro wth a nd c a p ita l re tu rns
m a nd a te s
Paths to sustain and grow the production plateau - ongoing
J u n-19 s lic kline c a m p a ig n s u c c e s s fu l, Se p t-19 o ng o ing , a d d itio na l e xis ting p e rfo ra te d inte rva ls o p e ne d
• Fo u r no n-p ro d u c ing zo ne s in c u rre nt we ll-s to c k, p lu s we llhe a d flo wline c ho ke u p g ra d e s p ro vid e lo w-c o s t
p ro d u c tio n u p lifts
• 2D-3D p o rtfo lio o f 8 0 + p ro s p e c ts / le a d s
• Exp lo ra tio n d rilling fro m la te 20 22+ o nc e fu lly re c o ve ra b le u nd e r PSA
Extension - commercial trigger for additional Capex - ongoing
• Inc re a s e d p ro d u c tio n p o te ntia l a nd fina nc ia l inc e ntive s to p ro d u c e 130 MMs c f/ d
• Fa s t tra c k infill a nd / o r Exp lo ra tio n d rilling Minim a l ne a r-te rm Ca p e x
1 Source: RPSEnergy Canada Ltd. – ReservesAssessment as at 31May-18, based on top 20 leads/prospects (g a s c om p re s s ion e tc .) 9
Mnazi bay running room
Ma te ria l Exp lo ra tion (d e e p e r in infill) u p s id e on b loc k
Pmean unrisked GIIP (Bcf) vs.
Geological Chance of Success (GCoS %)
300.00
250.00
200.00
(Bcf)
150.00
100.00
50.00
0.00
0.00 0.20 0.40
(GCoS %)
• To p 9 p ro s p e c ts g ro s s u n-ris ke d P m e a n
GIIP ~1.5 Tc f1
• Fu rthe r d e -ris king thro u g h infill 2D, 3D
a nd inte g ra te d s u b s u rfa c e s tu d ie s
Q1 20 19 Slic kline a nd Pre s s ure Minim a l ne a r-te rm Ca p e x
m onitoring
1 Source: RPSEnergy Canada Ltd. – ReservesAssessment c a based
as at 31May 2018, m p aon
ig20
n leads/prospects
ong oing (g a s c om p re s s ion e tc .) 10
Southe rn Ta nza nia n la nd s c a p e
& Ea s t Afric a n g rowth m a nd a te
Ambitious East African Growth mandate
Stra te g ic d rive rs
1. Materiality & Control
2. Capital returns
3. East African focus
4. Gas champion
Mnazi Bay
Com p e lling d e m a nd le d Foc us e d m a nd a te p la ying to
Ra p id ly d e le ve ra g ing b a la nc e Sus ta ina b le , tra ns p a re nt
Ta nza nia n d om e s tic g a s c ore s tre ng ths a nd
s he e t, b uild ing c a s h m a id e n d ivid e nd initia te d
la nd s c a p e c a p a b ilitie s
12
Southern Tanzanian Gas hub
November 2019
Dar es Salaam Legend
LNG – 1st gas c.2030
Ga s d isc ove ry
Block 2: Equinor (65% Op.) Block 2 2,000
Mronge Pros p e c t / Le a d
• XOM 35% (d ive s ting ) c.20Tcf
• Pre FID, HGA ne g o tia tio ns
Mtw a ra - Da r e s
Zafarani Sa la a m 36 ” NNGP
6,000 Tangawizi p ip e line . 76 5
Block 1: Shell (60% Op.) 3,450 MMs c f/ d c a p a c ity
• Me d c o (Ind o ne s ia ) 20 % 3,000 Lavani & Piri (c .15% utilis e d )
• Pa vilio n (Sing a p o re ) 20 %
• Pre FID, HGA ne g o tia tio ns 2,000 Mdalasini 1.069 Pm e a n g ros s GIIP
Block 1 Taachui d is c ove re d (Bc f)
c.14Tcf 1,200
Ma d im b a Ga s
Proc e s s ing fa c ility
Dom Gas-Mnazi Bay c.85MMscf/d 4,600 (210 MMs c f/ d
Mzia c a p a c ity)
Ntorya pending ext./development
Lindi Da ng ote Ce m e nt
Mnazi Bay: Maurel et Prom (48% Op.)
(LNG) p la nt
• W e ntwo rth 32% (p ro d .)
• TPDC 20 % Mkizi 600
Jodari N
• 2P (g ro s s ) 482Bc f, 3P 76 2 Bc f 3,400
Jodari
Ruvuma (Ntorya) ARA (50% Op. Chaza
Mtwara 470
pending farm -in.)
Mnazi Bay
• Am ine x 75% 1.069
• So lo Oil 25%
• Nto rya d is c ove ry 81 Bc f 2C Ntorya
Ruvuma 208
Golfinho
(p e nd ing d e ve lo p m e nt) fro m NT-1
& NT-2 MNB Windjammer
13
Sources: Management estimates, AEX, Ophir, RPS CPR 31 Dec
-18 13
Mnazi Bay
November 2019
The p la tfo rm fo r a “Brid g e to a n LNG future ”
Dar es Salaam MNB central
Block 1 Legend
(c.400 kms) 177 Chaza c.14Tcf
Mnazi Bay North 303 Ga s d isc ove ry
318
LNG – 1st gas c.2030 c.700Bcf GIIP P50 Ke y Pros p e c t / Le a d
(unrisked ) Chaza W
Block 1: Shell (60% Op.) 198
• Me d c o (Ind o ne s ia ) 20 % Ma ng rove s
• Pa vilio n (Sing a p o re ) 20 % Mtwara
• Pre FID, HGA ne g o tia tio ns Roa d s
MnaziBay Mtw a ra - Da r e s
Ziwani -1 Mb -2 Mb -4
Dom Gas-Mnazi Bay c.90MMscf/d 1.069 Sa la a m 36 ” NNGP
Mb -3
Ntorya pending ext./development Mb -1
MS-1X
p ip e line . 76 5
MMs c f/ d c a p a c ity
Mnazi Bay: Maurel et Prom (48% Op.) (c .15% utilis e d )
• W e ntwo rth 32% (p ro d .) 1.069 Pm e a n g ros s GIIP
• TPDC 20 % d is c ove re d (Bc f)
• 2P (g ro s s ) 48 2Bc f, 3P 76 2 Bc f
Ma d im b a Ga s
Ruvuma (Ntorya) ARA (50% Op. pending farm - Top 9 prospects Proc e s s ing fa c ility
in., Binding HoT signed 24 Sept -19) (210 MMs c f/ d
c.1.5Tcf GIIPPmean
c a p a c ity)
• Am ine x 75% (unrisked )
• Solo Oil 25% Da ng ote Ce m e nt
• Ntorya d is c o ve ry 81 Bc f 2C (p e nd ing Mnazi Bay p la nt
d e ve lop m e nt) fro m NT-1 & NT-2
Sources: Management estimates, AEX, Ophir, RPS CPR 31 Dec
-18 14
Wentworth’s ESG framework –Adapting sustainably to macroeconomic & landscape changes
Corporate Governance
Clear and transparent disclosure encourages us to continue to deliver and improve
our CSR objectives
• Critic a l fo c u s o n HSSE fo r a ll, while a lso p ro te c ting the e nviro nm e nts in whic h we wo rk Wentworth Africa
Environmental • Eq u a l a nd d ive rse wo rkfo rc e a p p rop ria te ly re fle c ting a c u ltu re o f re sp e c t, inte g rity, ho ne st
Foundation
a nd tra nsp a re nc y
Awareness • Stro ng a nd b a la nc e d m ix o f ind e p e nd e nt a nd no n-ind e p e nd e nt Dire c to rs c lo se ly a lig ne d Strong partnership(s) with local NGOs in
Wentworth takes its obligation as with the b e st inte re st o f a ll sta ke ho ld e rs Mtwara / Lindi regions to support
a natural gas producer with the • BOD re m u ne ra tio n stric tly a lig ne d with p e rfo rm a nc e , b e ha vio u rs a nd c o rp ora te g o ve rna nc e
Tanzania’s youth through education
utmost importance and initiatives
endeavours to operate with a
minimal environmental footprint • Bu ild ing sc ho o l lib ra rie s in d isu se d ro o m s to
p ro vid e fu nc tio na l le a rning sp a c e s
• Na tu ra l g a s is a ke y tra nsitio na l • ‘Ke e p a Girl in Sc ho o l’ p ro g ra m m e p ro vid e s
so lu tio n ne c e ssa ry to m e e t g irls with sa nita ry p ro d u c ts to e nc o u ra g e
Ta nza nia ’s e ne rg y su p p ly g a p . It is sc ho o l a tte nd a nc e
a n e sse ntia l c o m p o ne nt o f the • Unive rsity Sp o nsorship p ro g ra m m e
o ve ra ll e ne rg y m ix p ro vid e s p ro m is ing s tu d e nts the
• Co ntinu a l a sse s sm e nt o f o p p ortunity to fu rthe r the ir a m b itio ns a nd
p ro d u c tion e ffic ie nc ie s with a vie w HSSE Pollution c a re e r p ro sp e c ts
to m inim ising o u r GHG e m issio ns Risk management • Su p p orting lo w inc o m e fa m ilie s with
Anti -bribery
• Ong o ing e ng a g e m e nt with lo c a l Se c o nd a ry Sc ho o l Bu rs a rie s to a s s is t tho s e
sta ke ho ld e rs a nd g o ve rnm e nt Demographics Communities in fina nc ia l ne e d
o ffic ia ls to e nsu re m inim a l im p a c t Human • Vo c a tio na l sc ho la rship s fo r stu d e nts to
Political
o n the lo c a l e c o syte m Rights a tte nd the lo c a l Mtwa ra -b a se d te rtia ry
landscape
vo c a tio na l tra ining institu tio n, su p p orting
Climate Technology e m p lo ym e nt o p p o rtunitie s
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East African focused, Domestic gas led E&P Company
Ma rke t s na p s ho t, W EN (AIM)
Market Cap 1 Mnazi Bay net W.I. Reserves
GBP£32 MM, US$ 42 MM
(Mmboe)2
Share price 1
£0 .17 23.90
16.60
Shares in issue1 10.90
184.2 m m b a s ic , 194,1 m m d ilute d
1P 2P 3P
Reserves (E.I.)2 Mnazi Bay
Ne t 2P 10 0 Bs c f, 16 .6 Mm b oe ,
2P NPV15 US$ 10 6 MM (a fte r ta x)
Significant shareholders 1 Cornerstone
AXA Fra m ling ton 9.5% investors
18.2%, Institutions
Sus ta ina b le Ca p ita l 9.3%
Vitol 9.0 % 56.1%, 20.1%, Board &
Fid e lity 7.0 % Management
R P Mc Be a n 3 5.1% Retail 1 As at
5.7%, 18 Nov-19
2 RPSEnergy Canada Ltd as at 31Dec-18
3 Non Executive Chairman
Surg ing d om e s tic Mid c a p E. Afric a n
6 .7% Divid e nd yie ld Pure p la y foc us
d e m a nd g a s a s p ira tion
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Katherine Roe Wentworth Resources
Inte rim CEO & Chie f Fina nc ia l Offic e r Tha m e s To we r
2 nd Flo o r
Sta tio n Ro a d
Re a d ing
RG1 1LX
Contact Unite d King d o m
info @we ntp lc .c o m
Mo re info rm a tio n a va ila b le
o nline a t:
www.we ntp lc .c o m
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