TOWER RESOURCES PLC — Regulatory Filings 2017

Jun 13, 2017

Wentworth Resources Limited : Operational Update

Wentworth Resources Limited : Operational Update

PRESS RELEASE

13 June 2017

WENTWORTH RESOURCES LIMITED

("Wentworth" or "the Company")

Operational Update

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

independent, East Africa-focused oil & gas company, is today providing an update

to shareholders.

Further to the Operational Update in April and the successful Private Placement

in May, we are pleased to announce that the farm-out process for the Company's

Tembo-1 appraisal asset in northern Mozambique is now underway. The analysis of

the results from the Tembo-1 discovery well and interpretation of the existing

seismic data are now complete. The Company is continuing to advance its

appraisal programme and is looking to secure an industry partner to participate

in an appraisal well, which is planned for Q2 2018. The Company has identified a

number of potential drilling locations and has commenced pre-planning work for

the appraisal well.

The Company's internal assessment of the prospective resource estimate for the

Tembo Structure is 1.7 Tcf (unrisked P50).  Significant oil shows in the Tembo-

1 discovery well also suggest the potential for an oil case of 219 MMbbls

(unrisked P50).  There is further significant upside potential in the 2,500 sq.

km. Tembo Block which is not included in these prospective resource numbers.

The Company has an 85% working interest in the Tembo Block and feels confident

that we will be able to secure an industry partner to participate in this

appraisal programme.  We will continue to update the market as material

developments on this asset occur.

In relation to the Company's Mnazi Bay asset in Tanzania, Tanzania Petroleum

Development Corporation ("TPDC") and Tanzania Electric Supply Company Limited

("TANESCO") have recently paid monthly invoices totalling $1.0 million net to

Wentworth for gas sales. The Mnazi Bay Partners  continue to work closely with

the Government of Tanzania to settle all outstanding invoices. As part of our

Gas Sales Agreement with TPDC, payment guarantees are in place which can be

utilised, if deemed necessary, should payments from TPDC become excessively

delayed. Other positive developments include an increase in daily production

volumes since the end of the rainy season and we maintain our guidance for the

year of 40 - 50 MMscf/d.

Geoff Bury, Managing Director, commented:

"We are very excited about being ready and in a position to advance the

appraisal of the Tembo-1 discovery and feel confident that this exciting

opportunity will attract an industry partner who shares our commitment to

drilling an appraisal well next year. The payment received in Tanzania

demonstrates the willingness to settle invoices when TPDC and TANESCO are in a

financial position to do so. Along with our Operator, Maurel et Prom, we

continue to work closely with TPDC and TANESCO to resolve the payment delays and

clear all arrears."

-Ends-

Enquiries:

Wentworth Geoffrey Bury, gpb@wentworthresources.com

Managing Director +1 403 993 4450

Lance Mierendorf, lance.mierendorf@wentworthresources.com

Chief Financial +1 403 680 8773

Officer

Katherine Roe katherine.roe@wentworthresources.com

Vice President +44 7841 087 230

Corporate

Development &

Investor Relations

Crux Advisers Investor Relations +47 909 808 48

Adviser

(Norway)

Carl Bachke

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

Europe Limited Adviser and Broker

(UK)

Callum Stewart

Ashton Clanfield

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

Hugh Sanderson

FTI Consulting Investor Relations wentworth@fticonsulting.com

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.

Notes and Glossary

These assessments are made in accordance with the standard defined in the

SPE/WPC Petroleum Resources Management System.

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

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

approved the technical disclosure in this regulatory announcement.

MMbbl Million barrels

Prospective Resources Petroleum deposits that are estimated, on a given date,

to be discovered from an accumulation yet to be

discovered

Tcf Trillion cubic feet

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, 2016,

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.