In This Article:
PRESS RELEASE
2 July 2018
WENTWORTH RESOURCES LIMITED
("Wentworth" or the "Company")
Payment update
Wentworth, the Oslo Stock Exchange (WRL.OL) and AIM (WRL.L) listed independent, East Africa-focused oil & gas company, today provides an update to shareholders.
The Company is pleased to inform shareholders that payments received during June 2018 for gas sales generated from the Mnazi Bay Concession in Tanzania totalled $3.1 million net to Wentworth. Payments were received from both Tanzania Petroleum Development Corporation ("TPDC") and Tanzania Electric Supply Company Limited ("Tanesco") for one month`s gas sales to TPDC and one month`s gas sales to TANESCO.
The Company is also pleased to report that gross production volumes during June 2018 from the Mnazi Bay gas field averaged 87 MMscf/d.
-Ends-
| Enquiries: | Bob McBean, | rpm@wentworthresources.com |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK) | +44 (0) 20 7710 7600 |
| GMP FirstEnergy | Broker (UK) | +44 (0) 20 7448 0200 |
| Peel Hunt LLP | Broker (UK) | +44 (0) 20 7418 8900 |
| FTI Consulting | Investor Relations Adviser (UK) | wentworth@fticonsulting.com |
About Wentworth Resources
Wentworth Resources is a publicly traded (OSE: WRL, AIM: WRL), independent oil & gas company with: natural gas production; exploration and appraisal opportunities; and large-scale gas monetisation initiatives, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.
Inside Information
The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ("MAR"). On the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
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.