Mnazi Bay Production Sharing Agreement

  • Coastal (onshore and offshore), south-eastern Tanzania bordering the Ruvuma River to the south and extending east into the Indian Ocean
  • Concession area lies between Aminex's Ruvuma concessions and BG Group's offshore Block 1 concession
  • 667 Bcf (P50) gas discovered in the concession area through 5 wells drilled to date 213 bcf (P50)
    • 4 wells to be brought on production at an expected rate of 20 mmcf/d gross per well
    • Substantial value uplift when reclassified as reserves following completion of the pipeline and gas sales agreement
  • Current work programme includes acquiring 320 km of new 2D seismic onshore
  • New gas processing plant and pipeline terminal to be built by TPDC at Madimba,Tanzania, located within the Mnazi Bay concession
  • First gas expected to be delivered in early 2015 under take or pay agreement with delivery point adjacent to existing facilities
  • New development and exploration wells to follow execution of a gas sales agreement

Participation Interest in Concession

License
Surface Area
Ownership
% Production
% Exploration
Mnazi Bay
756km2
Wentworth Resources
31.94
39.925
   
Maurel et Prom1
48.06
60.075
   
TPDC
20.00
n/a
1Denotes Operator

Contingent and Prospective Resources*

Contingent Resources (Unrisked) Mnazi Bay License, Tanzania (Bcf)
100% Field Values
Wentworth 31.94% Interest
P 90
P 50
Mean
P 10
P 90
P 50
Mean
P10
Gas Originally in Place
365
892
1,112
2,117
117
285
355
676
Recoverable Resources
271
667
834
1,594
87
213
266
509
Prospective Resources (Unrisked) Mnazi Bay License, Tanzania (Bcf)
100% Field Values
Wentworth 39.925% Interest
P90
P50
Mean
P10
P90
P50
Mean
P10
Gas Originally in Place
1,653
2,400
2,486
3,400
672
958
993
1,357
Recoverable Resources
1,064
1,537
1,596
2,201
425
614
637
879

*Source: RPS Energy Canada Ltd. resource assessment as at August 31, 2013

Tanzania

Mnazi Bay Concession Prospects and Leads

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