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TOWER RESOURCES PLC Earnings Release 2017

May 1, 2018

7980_rns_2018-05-01_433ed1a2-a31c-4d91-b5b9-a5f1b45e4270.html

Earnings Release

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Wentworth Resources Limited : Payment and Corporate Update

Wentworth Resources Limited : Payment and Corporate Update

PRESS RELEASE

1 May 2018

WENTWORTH RESOURCES LIMITED

("Wentworth" or the "Company")

Payment and Corporate update

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

independent, East Africa-focused oil & gas company, today provides an update to

shareholders.

The Company is pleased to inform shareholders that payments received during

April 2018 for gas sales generated from the Mnazi Bay Concession in Tanzania

totalled $6.0 million net to Wentworth. This represents payment in full for two

months' gas sales. The Company is also pleased to report that gross production

volumes during April 2018 from the Mnazi Bay gas field averaged 77 MMscf/d,

continuing the strong production since the start of the year and further de-

risking our 2018 gross production guidance of 65 to 75 MMscf/d.

Further to the announcement made on 15 January 2018 that Eskil Jersing would be

joining Wentworth as Chief Executive Officer ("CEO"), the Company is pleased to

confirm that Eskil will formally join the Company on 25 June 2018. It is

anticipated that he will be appointed to the Board at the Company's Annual and

Special Meeting to be held on 27 June 2018. As previously announced, Geoff Bury

stepped down from his position as Managing Director on 30 April 2018 and Bob

McBean, Executive Chairman, has assumed the role of Interim CEO until Eskil

formally joins the Company.

-Ends-

Enquiries:  Bob McBean [email protected]

Wentworth Executive Chairman

Katherine Roe [email protected]

Chief Financial +44 7841 087 230

Officer

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

Europe Limited Adviser and Broker

(UK)

Callum Steward

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

FTI Consulting Investor Relations [email protected]

Adviser (UK) +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.

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, 2017,

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.