Wentworth Resources Ltd Wentworth Resources Limited : Operational Update
September 18 2017 - 2:00AM
UK Regulatory
TIDMWRL
PRESS RELEASE
18 September 2017
WENTWORTH RESOURCES LIMITED
("Wentworth" or "the Company")
Operational 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.
The Company is pleased to confirm that further payments have been
received from Tanzania Petroleum Development Corporation ("TPDC") and
Tanzania Electric Supply Company Limited ("TANESCO") totalling $2.0
million net to Wentworth for one month's gas sales ($1.7 million) and
two month's gas sales ($0.3 million) respectively. The ongoing receipt
of payments is further evidence of both TPDC and TANESCO's commitment to
settle outstanding invoices as soon as possible.
-Ends-
Enquiries:
Geoffrey Bury, gpb@wentworthresources.com
Wentworth Managing Director +1 403 993 4450
Lance Mierendorf, lance.mierendorf@wentworthresources.com
Chief Financial Officer +1 403 680 8773
Katherine Roe katherine.roe@wentworthresources.com
Vice President Corporate Development & Investor Relations +44 7841 087 230
Crux Investor Relations Adviser
Advisers (Norway) +47 909 808 48
Carl Bachke
Stifel
Nicolaus
Europe
Limited AIM Nominated Adviser and Broker (UK) +44 (0) 20 7710 7600
Callum Stewart
Ashton Clanfield
GMP
FirstEnergy Broker (UK) +44 (0) 20 7448 0200
Hugh Sanderson
FTI Investor Relations Adviser (UK) wentworth@fticonsulting.com
Consulting +44 (0) 20 3727 1000
Edward Westropp
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.
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 of the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.
170918 Announcement: http://hugin.info/136496/R/2134636/816678.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 18, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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