Wentworth Resources Ltd Wentworth Resources Limited : Payment Update

 
TIDMWRL 
 
 
   PRESS RELEASE 
 
   1 February 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, is today providing 
an update to shareholders regarding recent payments received for gas 
sales. 
 
   The Company is pleased to inform shareholders that payments have been 
received during January from Tanzania Petroleum Development Corporation 
("TPDC") and Tanzania Electric Supply Company Limited ("Tanesco") 
totalling $1.82 million net to Wentworth for gas sales during 2017. As 
expected, TPDC and Tanesco continue to settle invoices on a regular 
monthly basis thereby allowing the Company to continue to strengthen 
its' current financial position. 
 
   In order to provide consistent updates to the market, the Company will 
release monthly updates at the beginning of each month detailing 
payments received for gas sales in the prior month. 
 
   -Ends- 
 
 
 
 
Enquiries: 
                Geoffrey Bury                                                      [e-mail] 
Wentworth        Managing Director                                                       [phone] 
                Lance Mierendorf                                             [e-mail] 
                 Chief Financial Officer                                                 [phone] 
                Katherine Roe                                                 [e-mail] 
                 Vice President Corporate Development & Investor Relations               [phone] 
Stifel 
 Nicolaus       AIM Nominated Adviser and Broker (UK) 
 Europe          Callum Stewart 
 Limited         Ashton Clanfield                                                               [phone] 
                Broker (UK) 
GMP              Hugh Sanderson 
 FirstEnergy     David van Erp                                                                  [phone] 
Peel Hunt LLP   Broker (UK) 
                 Richard Crichton                                              [phone] 
                 Ross Allister 
                 Chris Burrows 
FTI Consulting  Investor Relations Adviser (UK)                              [e-mail] 
                 Edward Westropp                                              [phone] 
                 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, 2016, 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. 
 
   180201 Press Release: http://hugin.info/136496/R/2165261/833093.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

February 01, 2018 02:00 ET (07:00 GMT)

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