WNWG Wentworth Energy Inc (CE)

Wentworth Energy, Inc. (OTCBB:WNWG) announced today the results of an independent study of the Company's oil and gas reserves performed by W. D. Von Gonten & Co. (�Von Gonten�), an independent licensed petroleum engineering firm based in Houston. The reserve report, which was based on approximately 16% or 4,400 acres of the Company�s East Texas mineral block, estimates the undiscounted future net revenue (FNR) from these reserves at $123 million or a discounted PV-10 of $84 million which is commonly known as the SEC PV-10 figure. The total net reserves, including the Company�s unaudited probable and possible reserves, are 379,000 barrels of crude oil and 84.6 BCF of natural gas, which breaks down as follows: Oil (MBO) Gas (MMCF) PROVED PRODUCING 4� 1,265� PROVED PRODUCING - NOT ON LINE 23� 437� PROVED BEHINDPIPE 9� 1,565� PUD (PROVEN UNDEVELOPED) 279� 19,598� Total 315� 22,865� PROBABLE(a) 64� 30,312� POSSIBLE(a) 0� 31,502� � Total 379� 84,679� (a) Not audited by Von Gonten John Punzo, Chairman & CEO, stated, "We are very pleased with the findings of this independent reserve report as it stands. As this represents only about 16% of our minerals and we have only been in development for 8 months, with this base and our plans for additional drilling, we feel that we will prove up significantly more reserves as we move ahead. The independent reserve report represents an increase in our oil and gas reserves in a relatively short period of time. Since July 2006 our reserves have increased from a PV-15 of $12.9 million to a PV-10 of $84 million today. I want to thank our entire team for helping Wentworth Energy achieve this important milestone." Management is pleased with the results of this reserve report and believes that this information will be useful in allowing the Company to accelerate its growth and development. As the Company continues to move forward, it will from time to time commission updates to this independent report. 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, as well as an active oil and gas contract drilling company, Barnico Drilling, Inc., which has serviced East Texas drilling demand since the late 1970s. Wentworth, through its subsidiary Barnico Drilling, is focused on rapidly expanding the number of operating wells on its existing acreage in East Texas. Wentworth Energy applies innovative technologies toward the discovery and development of a diverse portfolio of high-value, low-risk energy projects in North America, including the oil and gas fields of East Texas. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com The statements in this press release regarding any implied or perceived benefits from existing of oil and gas field properties, actual reserves and revenues to be derived from the reserves, plans to drill additional oil and gas wells, anticipated revenues, the acquisition of additional oil or gas leases, maintaining mineral lease rights, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, and any other difficulties related to producing minerals such as oil or gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth. The reserve values stated in the W.D Von Goten & Co. report are estimates and should not be interpreted as being exact quantities. They may or may not be actually recovered and the revenues stated in the report may be more or less than what will ultimately be recovered. While the reserve estimates presented in the report were believed reasonable at March 31, 2007, several factors may lead to a future revision of the reserve estimates presented in the report, including general economics, the Company's operations and reservoir performance. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "projects," "plans,� �feels,� "anticipates" and certain of the other foregoing statements may be deemed "forward-looking statements." Although Wentworth Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors. Cautionary Note to U.S. Investors The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release such as "producing," "production," �discovery,� "commercial viability," and "reserves" that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form SB-2, File No. 333-136878, and our Form 10-KSB for the fiscal year ended December 31, 2005 and Form 10-QSB for the quarterly period ended September 30, 2006 available from us by contacting the Investor Relations Department. You can also obtain this form from the SEC by calling 1-800-SEC-0330.