TOWER RESOURCES PLC — Regulatory Filings 2017

Apr 10, 2017

Wentworth Resources Limited : Operational Update

Wentworth Resources Limited : Operational Update

PRESS RELEASE

10 April 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.

We are pleased to announce that demand for the Company's discovered gas reserves

from Mnazi Bay, Tanzania is firming up with current gross volumes being

maintained within the previously guided range of 40 - 50 MMscf/d and first

quarter production averaging 43 MMscf/d. As expected, Tanzania Petroleum

Development Corporation ("TPDC") commenced gas delivery to a new industrial

customer, Goodwill Tile Factory in the first quarter demonstrating demand growth

from the industrial sector which is expected to increase throughout 2017 as

Dangote Cement begins using gas for power generation. We will continue to update

the market as these new sources of demand materialize.  So far in 2017, TPDC has

settled in full the November 2016 and December 2016 invoices that were

outstanding at the year end, and has also settled a 2015 invoice for line fill

gas volumes. In addition, we have received payment from Tanesco for five months

of outstanding invoices. Combined cash receipts totalling $4.9m, net to

Wentworth, have been primarily used to settle outstanding amounts that were due

to the Operator, Maurel et Prom. As part of our Gas Sales Agreement with TPDC,

payment guarantees are in place which can be utilized, if determined necessary,

should payments from TPDC be excessively delayed.

In relation to Wentworth's appraisal activities in northern Mozambique, the

Company is pleased to report that the reprocessing of approximately 1,000 km of

existing seismic data is complete, interpretation is being finalized and results

from the Tembo-1 discovery well have been fully analyzed. The Company is now

working on advancing a farm-out process with a view to securing an industry

partner to jointly drill an appraisal well in 2018. We will update the market as

material developments on this asset occur.

The latest version of our Corporate Presentation can be found on our website at

www.wentworthresources.com.

Geoff Bury, Managing Director, commented:

"We are pleased to see gas demand stabilizing in Tanzania and that Mnazi Bay gas

is now being delivered to a new industrial customer, with more customers

expected to follow. Together with our development partners, the Company is also

currently developing and pursuing opportunities to increase the current demand

for the Mnazi Bay gas. In Mozambique, the completion of the reprocessing of the

seismic and interpretation of the results confirms our belief in the potential

of the Tembo gas discovery and we are very excited about being able to advance

this world class discovery through securing an industry partner."

-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.

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.