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TOWER RESOURCES PLC Regulatory Filings 2014

Oct 30, 2014

7980_iss_2014-10-30_c8591dfa-4f3b-421e-b3b0-b693de3aab08.html

Regulatory Filings

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Wentworth Resources Limited : Update on Tembo-1 Drilling Operations

Wentworth Resources Limited : Update on Tembo-1 Drilling Operations

PRESS RELEASE

30 October 2014

Wentworth Resources Limited

("Wentworth" or the "Company")

Update on Tembo-1 Drilling Operations

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

independent, East Africa-focused oil & gas company, announces an update of

exploration drilling operations in the Rovuma Onshore Concession in northern

Mozambique.

Further to previous shareholder communications on June 20, 2014 and August

19, 2014, the Tembo-1 exploration well has reached a depth of approximately

2,965 meters in Cretaceous age rocks. The well is programmed to be drilled to

the Jurassic at a total depth of 4,397 meters (4,250 meters True Vertical Depth

Sub Sea).  Drilling operations are expected to continue through the month of

November.  It is important to note that, as this is a frontier well, it is

difficult to predict how long drilling operations will take. We remain a tight

hole on Tembo-1 and still plan to announce results once drilling operations have

been fully completed.

Following completion of drilling the Tembo-1 exploration well, the drilling rig

will be mobilized to the northern section of the Onshore Rovuma Block and

commence drilling a second exploration well, Kifaru-1.

-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

Adviser

(Norway)

Jan Petter Stiff +47 99 51 38 91

Carl Christian +47 90 98 08 48

Bachke

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

Adviser and Broker

(UK)

Dominic Morley

Adam James

Tom Salvesen

Duncan Monteith

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

Capital

Majid Shafiq

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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1867005]