• Gas demand in Tanzania continues to be very high with YTD production averaging 80.3 mmcf/d, well above last year (58.1 mmcf/d). While gas demand is normally low during 2Q (because of hydro), we estimate 2Q21 production at ~75 mmcf/d.
• As a result, Wentworth is increasing its production guidance for 2021 from 65-75 mmcf/d to 75-80 mmcf/d.
• At the end of May, Wentworth held US$21.5 mm in cash and no debt. This is close to our expectations of US$21.4 mm at the end of June. This also implies th ....
15 Jun 2021
Wentworth Resources plc (AIM: WEN): Increasing production guidance. High cash position
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Wentworth Resources plc (AIM: WEN): Increasing production guidance. High cash position
- Published:
15 Jun 2021 -
Author:
Stephane Foucaud -
Pages:
5
• Gas demand in Tanzania continues to be very high with YTD production averaging 80.3 mmcf/d, well above last year (58.1 mmcf/d). While gas demand is normally low during 2Q (because of hydro), we estimate 2Q21 production at ~75 mmcf/d.
• As a result, Wentworth is increasing its production guidance for 2021 from 65-75 mmcf/d to 75-80 mmcf/d.
• At the end of May, Wentworth held US$21.5 mm in cash and no debt. This is close to our expectations of US$21.4 mm at the end of June. This also implies th ....