In its end of year statement, Wentworth said it had a cash balance of $9.1 million and working capital of $4.2 million at 31 December 2011.
Since then, the company had received almost all of the $13.5 million it was owed for the sale of its 18MW gas-fired power plant to Tanzania Electric Supply Company.
Furthermore, Wentworth is owed about $19 million after France’s Maurel & Prom exercised a pre-emptive right to increase its stake in the Mnazi Bay concession.
M&P
