Wentworth Energy, Inc. (OTCBB: WNWG) announced today that Wentworth has entered into a six-month lease extension with their current Lessee on a 9,000-acre deep well lease on Wentworth's 27,557-acre mineral block in East Texas. The Lessee's current lease on the property expires November 1, 2009.

"The Lessee has identified one additional well location in the deep Bossier formation that they would like to drill, but has deferred drilling until 2010," said David Steward, Wentworth Energy's Chief Executive Officer and Chairman.

The extension will give the Lessee until April 2010 to drill additional deep Bossier/Haynesville wells on the western portion of the 9,197.83-acre lease. In return for the six month extension, the Lessee has assigned 100% of their working interest (with a 75% NRI) in the Lessee's shallow leases on the mineral block to Wentworth Energy, Inc. The shallow leases are from the surface down to 8,521 ft. and include additional rights to test the Pettit formation.

Wentworth Energy has identified three additional shallow well locations with a potential JV Partner out of Tyler, Texas and are continuing to develop additional drill sites. These will be announced once final agreements are signed.

In November 2006, Wentworth Energy granted an exclusive three-year lease on approximately 9,000 acres of Wentworth's mineral block within the East Texas Deep Bossier/Cotton Valley/Haynesville Trend. The three-year lease and a Joint Operating Agreement with Wentworth Energy gave the Lessee the right to drill deep gas wells on the minerals and the opportunity for Wentworth to participate on drilling upper zones (above 8,500 feet) on a 50/50 basis.

About Wentworth Energy, Inc.

Wentworth Energy is an independent exploration and production company focused on developing North American oil and natural gas reserves. The Company owns a 27,557-acre mineral block in east central Freestone County and west central Anderson County in the active East Texas Basin. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com.

Contacts: Wentworth Energy, Inc. Francis Ling CFO 604-614-2266 www.wentworthenergy.com

Wentworth Energy (CE) (USOTC:WNWG)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Wentworth Energy (CE) Charts.
Wentworth Energy (CE) (USOTC:WNWG)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Wentworth Energy (CE) Charts.