Wentworth Resources Ltd Wentworth Resources Limited : Payment Update
03 September 2018 - 4:00PM
UK Regulatory
TIDMWRL
PRESS RELEASE
3 September 2018
WENTWORTH RESOURCES LIMITED
("Wentworth" or the "Company")
Payment update
Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) 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 August 2018 for gas sales generated from the Mnazi Bay Concession
in Tanzania totalled $3.4 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 two months' gas sales to Tanesco.
The Company is also pleased to report that gross production volumes
during August 2018 from the Mnazi Bay gas field averaged 87.9 MMscf/d.
-Ends-
Enquiries: Eskil Jersing, eskil.jersing@wentworthresources.com
Wentworth Chief Executive Officer +44 7717 847623
Katherine Roe, katherine.roe@wentworthresources.com
Chief Financial Officer +44 7841 087 230
Stifel
Nicolaus AIM Nominated Adviser and Broker (UK)
Europe Callum Stewart
Limited Ashton Clanfield +44 (0) 20 7710 7600
Broker (UK)
Peel Hunt Richard Crichton
LLP Ross Allister +44 (0) 20 7418 8900
FTI Investor Relations Adviser (UK) wentworth@fticonsulting.com
Consulting Sara Powell +44 (0) 20 3727 1000
Kim Camilleri
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.
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, 2017, available on Wentworth's website, for further
description of the risks and uncertainties associated with Wentworth's
business.
Notice
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 to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.
180903 Press Release: http://hugin.info/136496/R/2213677/863471.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Wentworth Resources Limited via Globenewswire
http://www.wentworthresources.com/
(END) Dow Jones Newswires
September 03, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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