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TOWER RESOURCES PLC Regulatory Filings 2015

Jan 15, 2015

7980_iss_2015-01-15_84097129-bb60-4364-ad1e-f1834a7379ff.html

Regulatory Filings

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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]