AI assistant
TOWER RESOURCES PLC — Regulatory Filings 2015
Jan 15, 2015
7980_iss_2015-01-15_84097129-bb60-4364-ad1e-f1834a7379ff.html
Regulatory Filings
Open in viewerOpens in your device viewer
Wentworth Resources Limited : Kifaru Drilling Operations Commence
Wentworth Resources Limited : Kifaru Drilling Operations Commence
PRESS RELEASE
15 January 2015
WENTWORTH RESOURCES LIMITED
("Wentworth" or "the Company")
Mozambique: Kifaru-1 Drilling Operations Commence
Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil & gas company, today announces that
drilling operations have commenced on the Kifaru-1 exploration well in the
Rovuma Onshore Concession in northern Mozambique. Wentworth has an 11.59% net
interest in this well, which is being operated by Anadarko and drilled with the
Helmerich & Payne rig #243.
The Kifaru-1 exploration well is targeting Miocene sands, similar to the
reservoirs in the Mnazi Bay and Msimbati gas fields in southern Tanzania, as
well as Oligocene and Cretaceous sands. The Kifaru-1 well has a planned total
depth of 4,050 meters True Vertical Depth Sub Sea and, based on the current
drilling program, is expected to take approximately 70 days to complete. The
Company will provide an update after drilling operations have been completed.
Geoff Bury, Managing Director, commented:
"The Kifaru-1 exploration well is located just south of our discovered natural
gas fields in the Mnazi Bay concession and adjacent to recent gas discoveries
made offshore. The Kifaru-1 well is testing a large structure which, if
successful, could lead to further exploration activities in both of Wentworth's
blocks in the Rovuma Basin".
-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
Carl Bachke
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 of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#1887152]