Wentworth Secures Mozambique Extension
AIM- and Oslo-listed Wentworth has received confirmation from Instituto Nacional de Petroleo ("INP") that the extension to its onshore Mozambique licence has been granted. The one-year extension will take effect from 16 June 2018 and enables Wentworth, along with its partner Empresa Nacional de Hidrocarbonetos ("ENH"), to continue to progress pre-drilling activities in the Tembo block.
The extension request was in part related to the above ground security situation in and around the Macimboa da Praia and Palma regions, adjacent to the Tembo block, which remain challenging. This has prevented safe access to the area for Wentworth staff and contractors. The company continues to monitor the situation closely, it said in a stock exchange note June 6.
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CEO Bob McBean said the licence extension gave it the time and flexibility to progress its operational activities on the block and that Wentworth still "focused on securing an additional partner to share risk in unlocking the onshore potential of the Rovuma basin."