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TOWER RESOURCES PLC Regulatory Filings 2014

Dec 29, 2014

7980_iss_2014-12-29_cf1e5ccd-8dc9-40cc-924c-110595144f0a.html

Regulatory Filings

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Wentworth Resources Limited : Tembo-1 Exploration Well Drilling Complete

Wentworth Resources Limited : Tembo-1 Exploration Well Drilling Complete

PRESS RELEASE

29 December 2014

WENTWORTH RESOURCES LIMITED

("Wentworth" or "the Company")

Tembo-1 Exploration Well Drilling Complete

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

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

operations of the Tembo-1 well have now completed and a natural gas discovery

has been made in Cretaceous aged sands. The well was drilled to a total depth of

4,553 meters (4,401 meters True Vertical Depth Sub Sea) and reached TD in

Jurassic aged sediments.  Petrophysical analysis of the Cretaceous section

indicates 11 meters of natural gas net pay.  Natural gas and some condensate was

recovered by modular formation dynamics testing ("MDT") confirming the

petrophysical analysis.  The Onshore Rovuma Partners do not plan any further

evaluation of the Tembo well at this time but will assess all the data recovered

from this well to determine the potential commerciality of this discovery.

The Tembo-1 well has been plugged and abandoned and the drilling rig is now

being mobilized to the Kifaru-1 well location. It is expected that the Kifaru-1

well, which is approximately 10 kilometers south of Wentworth's Mnazi Bay

Concession in Tanzania, will spud in Q1 2015.  This well is targeting Miocene

sands, similar to the reservoirs in the Mnazi Bay and Msimbati gas fields, as

well as Eocene and Cretaceous sands.

Wentworth holds a 13.64% participation interest in exploration operations and an

11.59% participation interest in development and production operations of the

Rovuma Onshore Concession in Mozambique. Anadarko Petroleum Corporation is

operator.

Bob McBean, Executive Chairman, commented:

"The Tembo-1 well was an exciting well and has provided additional information

about the Rovuma basin.  We look forward to our continued exploration in the

Onshore Rovuma Block with the spudding of the Kifaru-1 well. With our imminent

gas production in southern Tanzania on track, 2015 should be a transformational

year for Wentworth".

-Ends-

Enquiries:

Wentworth Geoffrey Bury, [email protected]

Managing Director +1 403 993 4450

Lance Mierendorf, [email protected]

Chief Financial +1 403 680 8773

Officer [email protected]

Katherine Roe +44 7841 087 230

Head of Investor

Relations &

Corporate

Communications

Swedbank First Broker(Norway) +47 23 23 80 00

Securities

Ove Gusevik

Jarand Lønne

Crux Kommunikasjon Investor Relations +47 995 138 91

Adviser

(Norway)

Jan Petter Stiff

Fredrik Eeg

Panmure Gordon AIM Nominated +44 (0) 20 7886 2500

Adviser and Broker

(UK)

Dominic Morley

Adam James

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

Capital

Travis Inlow

Investec Broker (UK) +44 (0) 20 7597 4000

Chris Sim

Instinctif Investor Relations +44 (0) 20 7457 2020

Partners Adviser (UK)

Catherine Wickman

Harry Cameron

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 13.64% participation interest in exploration operations and an

11.59% participation interest in development and production operations of the

Rovuma Onshore Concession in Mozambique. Anadarko Petroleum Corporation is

operator.

Gerold Fong, Vice President of Exploration (BSC Geophysics, 1982) who has 31

years of experience in the exploration and production industry, has read and

approved the technical disclosure in this regulatory announcement.

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, 2013,

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.

[HUG#1883650]