Mnazi Bay Pipeline and 3D Seismic Project to Start Soon (Tanzania)

On Thursday, 8 November 2012, His Excellency Jaykaya Kikwete, President of the United Republic of Tanzania, laid the foundation stone at the Kinyerezi Gas Receiving Station for the start of construction of the Mnazi Bay to Dar es Salaam Gas Pipeline Project.

The 532km pipeline and its associated facilities are expected to be completed and commissioned in approximately 18 months. Wentworth and its Mnazi Bay partners are in the process of finalizing a gas sales agreement to supply 80 mmcf/day of gas to this pipeline and have been asked by TPDC to increase this amount to 200 mmcf/day as soon as practicable.

Wentworth Resources Limited also announced that the Mnazi Bay Concession partners are preparing to award a contract to acquire approximately 210km² of offshore 3D seismic over the Mnazi Bay Concession. The work to acquire new seismic data is expected to start before the end of the year. The acquired data will derisk currently existing offshore leads and map potential extensions to the offshore discoveries made by BG Group and Ophir in the adjacent Offshore Block 1. The purpose of acquiring the new 3D seismic data, and the ongoing work to fully reassess all existing concession geology and geophysics data, is to prepare for upcoming development and exploration drilling.

Executive Chairman, Bob McBean, commented:

“The start of construction of the Mnazi Bay to Dar es Salaam Gas Pipeline Project has ushered in a new era for the Mnazi Bay concession and its partners. We are preparing our existing gas wells for full production into the pipeline and we are committed to proving up or otherwise discovering additional resources for incremental production. Acquiring new 3D seismic offshore Mnazi Bay is a logical first step in identifying our next drilling targets and we look forward to reporting the results of this work.”