Wentworth Resources Limited


Wentworth Resources Limited : Mozambique: Tembo-1 Drilling Operations Commence


Wentworth Resources Limited
("Wentworth" or the "Company")

Mozambique: Tembo-1 Drilling Operations Commence

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, today announces that drilling operations have commenced on the Tembo-1 well in the Rovuma Onshore Concession in northern Mozambique.  Wentworth has an 11.59 percent net interest in this well which is being operated by Anadarko and drilled with the Helmerich & Payne rig #243.

The Tembo-1 well is targeting mid-Cretaceous sands with secondary targets in the upper Jurassic.  Tembo-1 has a planned total depth of 4,250 meters True Vertical Depth Sub Sea and is expected to take between 60 and 90 days to complete.  An update on drilling operations will be provided after drilling operations have been fully completed.

To date there have been two wells drilled in the Rovuma Onshore Concession including the Mocimboa-1 well, which encountered oil and natural gas shows in the Cretaceous and is located approximately 17 kilometres to the northeast of the Tembo-1 well. 

Geoff Bury, Managing Director, commented:

"The Tembo-1 well is designed to test Cretaceous and Jurassic sands in the onshore area of the Rovuma Basin in northern Mozambique, and is the first of two wells that Wentworth will be participating in over the next six months at the concession.  The Tembo prospect is one of the larger prospects (on pre-drill estimates) to be drilled to date in the onshore Rovuma Basin region of East Africa.  It is a high impact frontier well and, if successful, could add significant new oil or natural gas resources for Wentworth and open up an entirely new play fairway."        


Wentworth Geoffrey Bury, Managing Director gpb@wentworthresources.com
+403 993 4450
Katherine Roe, Head of Investor Relations & Corporate Communications katherine.roe@wentworthresources.com
+44 7841 087 230
Swedbank Broker (Norway) +47 23 23 80 00
Ove Gusevik
Jarand Lønne
Crux Kommunikasjon Investor Relations Adviser
+47 995 138 91
Jan Petter Stiff
Fredrik Eeg
Panmure Gordon AIM Nominated Adviser and Broker (UK) +44 (0) 20 7886 2500
Callum Stewart
Adam James
Tom Salvesen
Duncan Monteith
FirstEnergy Capital Broker (UK) +44 (0) 20 7448 0200
Majid Shafiq
Travis Inlow
Investec Broker (UK) +44 (0) 20 7597 4000
Chris Sim
Instinctif Partners Investor Relations Adviser (UK) +44 (0) 20 7457 2020
Catherine Wickman
Harry Cameron

About Wentworth Resources
Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent oil & gas company with: natural gas production; midstream assets; a committed exploration and appraisal drilling programme; and large-scale gas monetisation opportunities, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Gerold Fong, Vice President of Exploration (BSC Geophysics, 1982) who has 31 years of experience in the exploration and production industry, has read and approved the technical disclosure in this regulatory announcement.

Cautionary note regarding forward-looking statements
This press release may contain certain forward-looking information.  The words "expect", "anticipate", believe", "estimate", "may", "will", "should", "intend", "forecast", "plan", and similar expressions are used to identify forward looking information.

The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Wentworth is currently active and other factors management believes are appropriate in the circumstances. Wentworth undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable law.

Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Wentworth's control.  These assumptions and risks include, but are not limited to: the risks associated with the oil and gas industry in general such as operational risks in exploration, development and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the imprecision of resource and reserve estimates, assumptions regarding the timing and costs relating to production and development as well as the availability and price of labour and equipment, volatility of and assumptions regarding commodity prices and exchange rates, marketing and transportation risks, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in applicable law.  Additionally, there are economic, political, social and other risks inherent in carrying on business in Tanzania and Mozambique. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. See Wentworth's Management's Discussion and Analysis for the year ended December 31, 2013, available on Wentworth's website, for further description of the risks and uncertainties associated with Wentworth's business.

Neither the Oslo Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed this press release and neither accepts responsibility for the adequacy or accuracy of this press release.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

2014 06 20 Press Release