TOWER RESOURCES PLC — Board/Management Information 2017

Nov 16, 2017

Wentworth Resources Limited : Corporate Update

Wentworth Resources Limited : Corporate Update

PRESS RELEASE

16 November 2017

WENTWORTH RESOURCES LIMITED

("Wentworth" or the "Company")

Corporate update

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed

independent, East Africa-focused oil & gas company, announces that it is

undertaking a restructuring process to better align its corporate and management

structures with its shareholders and asset base in Africa, to increase

management efficiencies and reduce certain costs.

As a first step in this process, the Company is relocating its head office and

executive management team to London from Calgary, Canada bringing them closer to

shareholders and to the Company's core operating assets in Tanzania and

Mozambique. Due to personal reasons, Managing Director Geoff Bury, is unable to

relocate to London and will therefore be leaving the Company when a suitable

replacement has been found. The Company has commissioned an executive search

agent and is currently reviewing candidates for the role of Chief Executive

Officer, although Geoff will remain in his current role for a period of time to

allow a smooth transition of responsibilities.

In line with the head office relocation and given that the Company has few

Canadian registered shareholders and very limited operational connection to

Canada, the Directors are exploring the possibility of re-domiciling the Company

from Canada to a European country in order to better service its shareholder

base, reduce costs as well as corporate complexity. The Company will consult and

update shareholders, when appropriate, as to the progress on the corporate

reformation process.

Geoff Bury, Managing Director, said:

"I take great pride in the significant achievements since joining Wentworth in

2010, most of all positioning the Company to be a major gas producer in East

Africa and securing a potentially world class appraisal asset in Mozambique that

is capable of delivering significant upside to our shareholders in the near

term. I strongly believe in the quality assets that Wentworth has and the growth

these assets can achieve."

Bob McBean, Executive Chairman, said:

"Firstly, I would like to thank Geoff for his significant contribution to the

business. When we established Wentworth through the reverse takeover of Artumas,

there were substantial changes required to rationalise the asset base,

significantly reduce G&A, and manage the Company through legacy issues, which

would not have been possible without Geoff's clear management and direction.

Under Geoff's management we have transitioned the Company to where we are now:

establishing a growth platform business both in terms of production and cash

flow and with upside from our potentially world class exploration and appraisal

asset in Mozambique.

"As we enter this process of improving alignment of our corporate structure with

our shareholder and asset base, the business is in excellent shape to take

advantage of the opportunity to deliver the next phase of growth, both in

Tanzania and Mozambique, and potentially beyond these jurisdictions and I look

forward to working with a new CEO to achieve this."

-Ends-

Enquiries:  Geoffrey Bury, gpb@wentworthresources.com

Wentworth Managing Director +1 403 993 4450

Lance Mierendorf, lance.mierendorf@wentworthresources.com

Chief Financial +1 403 680 8773

Officer

Katherine Roe katherine.roe@wentworthresources.com

Vice President +44 7841 087 230

Corporate

Development &

Investor Relations

Stifel Nicolaus AIM Nominated +44 (0) 20 7710 7600

Europe Limited Adviser and Broker

(UK)

Callum Stewart

Ashton Clanfield

GMP FirstEnergy Broker (UK) +44 (0) 20 7448 0200

Hugh Sanderson

Jonathan Wright

Peel Hunt LLP Broker (UK) +44 (0) 20 7418 8900

Richard Crichton

Ross Allister

Chris Burrows

FTI Consulting Investor Relations wentworth@fticonsulting.com

Adviser (UK) +44 (0) 20 3727 1000

Edward Westropp

Kim Camilleri

Crux Advisers Investor Relations +47 909 808 48

Adviser

(Norway)

Carl Bachke

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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.