15th Jan 2015 10:38
LONDON (Alliance News) - Wentworth Resources Ltd on Thursday said drilling has started at the Kifaru-1 well in the Rovuma Onshore concession in Mozambique.
Wentworth has an 11.59% net interest in the well, which is being operated by Anadarko Petroleum Corp.
The Kifaru-1 well has a planned total depth of 4,050 meters true vertical depth sub sea and, based on the current drilling programme, is expected to take approximately 70 days to complete, Wentworth said.
"The Kifaru-1 exploration well is located just south of our discovered natural gas fields in the Mnazi Bay concession and adjacent to recent gas discoveries made offshore," said Wentworth Managing Director Geoff Bury.
"The Kifaru-1 well is testing a large structure which, if successful, could lead to further exploration activities in both of Wentworth's blocks in the Rovuma Basin," Bury added.
Wentworth shares were up 0.9% to 29.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Wentworth Resources