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TOWER RESOURCES PLC — Board/Management Information 2015
Jul 7, 2015
7980_iss_2015-07-07_c682dfbc-cf72-4fba-8e5b-700d78b2a748.pdf
Board/Management Information
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PRESS RELEASE 7 July 2015
WENTWORTH RESOURCES LIMITED
("Wentworth" or the "Company")
Appointment of Senior Independent Director
Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africafocused oil & gas company, is pleased to announce that, in line with the provisions of the UK Corporate Governance Code, the Deputy Chairman, John Bentley has been appointed as the Senior Independent Director to the Company, with immediate effect.
John has been the Deputy Chairman of the Company since August 2010 and is the Chairman of the Governance and Nomination Committee and a member of the Audit Committee and the Compensation Committee.
| -Ends | ||
|---|---|---|
| Enquiries: | ||
| Wentworth | Geoffrey Bury, Managing Director |
[email protected] +1 403 993 4450 |
| Lance Mierendorf, Chief Financial Officer |
[email protected] +1 403 680 8773 |
|
| Katherine Roe Head of Investor Relations & Corporate Communications |
[email protected] +44 7841 087 230 |
|
| Swedbank First Securities | Broker(Norway) Ove Gusevik Jarand Lønne |
+47 23 23 80 00 |
| Crux Kommunikasjon | Investor Relations Adviser (Norway) Jan Petter Stiff Carl Bachke |
+47 995 138 91 |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK) Callum Stewart Ashton Clanfield |
+44 (0) 20 7710 7600 |
| FirstEnergy Capital | Broker (UK) Travis Inlow |
+44 (0) 20 7448 0200 |
| FTI Consulting | Investor Relations Adviser (UK) Edward Westropp Tom Hufton |
+44 (0) 20 3727 1000 |
About Wentworth Resources
Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent oil & gas company with: natural gas production; midstream assets; a committed exploration and appraisal drilling programme; and large-scale gas monetisation opportunities, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.
Wentworth holds a 31.94% participation interest in production operations and a 39.925% participation interest in exploration operations of the Mnazi Bay Concession. M&P is operator and holds a 48.06% participation interest in production operations and 60.075% participation interest in exploration operations with Tanzania Petroleum Development Corporation ("TPDC") holding the remaining 20% participation interest in production operations.
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, 2014, 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.