×
×
Project Insights

Tanzania’s Ziwani well results delayed

Drilling results from the Ziwani 1 onshore exploration well in Tanzania are “so far not as expected” and have been delayed by equipment problems, Wentworth Resources said in a London Stock Exchange announcement on Tuesday.
By James Batty 10 April 2012 Europe & Russia / Exploration & Production 0 9005
Wentworth's Mnazi Bay concession. (Wentworth Resources/Interfax)

Drilling results from the Ziwani 1 onshore exploration well in Tanzania are “so far not as expected” and have been delayed by equipment problems, Wentworth Resources said in a London Stock Exchange announcement on Tuesday.

The disappointing news sent Wentworth’s share price down by almost 23% to £0.58 ($0.92) by lunchtime in London. Wentworth owns a 41.78% interest in the production operations and a 52.225% interest in the exploration phase of the Mnazi Bay licence. It shares ownership with the licence operator Maurel et Prom (M&P)...