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Wentworth Resources - Gas and Oil East Africa

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Vårt forum fortjener en tråd om Wentworth Resources da selskapet nå er i en operativ posisjon som har et voldsomt uforløst potensial.

Jeg har fulgt selskapet over ganske mange år og var skråsikker på at kursen ville gå, om ikke til himmels, så i allefall nok til å være en sikker investering og vinner på veldig kort sikt, da arbeidet med å knytte deres felt opp til gas-turbiner og el-nettet i Tanzania beviselig var kommet inn i sluttfasen (i slutten av 2014) (offisiell oppstart per WRL angitt til August 2015 i ettertid)
Ikke bare skulle man begynne å levere gass fra et felt av rause dimensjoner, men med på lasset hadde man en fast-pris avtale for en periode på hele 17 år for inntil 120 mmscf/day. Enn sågar med såkalt “take or pay” klausul.
I tillegg hadde/har man et felt med navn Tembo i Mosambique som kan inneholde en vanvittig mengde med olje, hvor partnere trakk seg ut etter første boring (for en del år siden) men hvor seismiske data etter hva WRLs ledelse insisterer på klart indikerer betydelig forekomster og at første boring derfor var en bom.

Vel - kursen stod den gang i ca 4,- og til min store skuffelse så har den siden ikke vært oppe på det nivået, men faktisk ganske langt nede og handles i dag for 3,20nok.

Vi vet at en delforklaring for lav kurs har vært at store aksjonærer har vært tvunget til å selge - og jeg kan bare ane hvor mye det har smertet å være den som pumper ut aksjer i et nesten ikke eksisterende marked hvor de selv tvinger kursen ned - der hvor den burde ha gått opp - og eventuelt vært høyere. Tildels MYE høyere.

Ja, det har vært betalingsproblemer, og ja, også skuffende etterspørsel etter gassen. Man fikk smertelig erfare at det er noe som heter regntid (hvilket man lærte våren 2016) og at med fulle dammer så sank etterspørselen videre (særlig i Q2-sesonger)

Men det markedet derfor (åpenbart) IKKE har tatt inn over seg er at Tanzania er et av de bedre afrikanske land som virkelig kjører på for å løse problemer med korrupsjon, levestandard og derfor har et skrikende behov for økt mengde med energi.
Det er helt fair å si at det er utbygging av el-nettet som bremser/bremset behovet for WRL sin gass. Vi ser i disse dager både fysiske bygg og planer om å nyttiggjøre gassen fra WRL, stipulert langt høyere enn hva den nevnte fast-pris avtalen inneholder. WRL kan fort komme opp i et leveringsproblem - hvor etterspurt mengde er høyere enn leveringsevne - og hvor det ikke finnes alternativer.

Tilbakebetaling av utestående gjeld og betaling for gass blir foreløpig børsmeldt av WRL nettopp for å kommunisere at ting er på stell.

Faktisk leverer WRL nå blå kvartalstall!! Og skal fortsette med det i lang tid!

I Mosambique er det Tembo som teller, og der er det sagt at man forventer en samarbeidspartner (farm-out) innen kort tid. Boring av en brønn nummer to er antydet til i sommer.

På HO har trådene angående WRL etablert en relativt liten men stabil gruppe bidragsytere. Jeg våger påstanden om at kunnskapene om olje og gass produksjon er eksepsjonell høy. Og en nylig tråd viste at HO forumets deltakere alene kan blokkere oppkjøp! Kanskje kan man si at WRL aksjen er nerdete på den måten at den hittil har hatt veldig lite omtale og derfor også lite omsetning - og er en aksje for de med over middels “peiling” på fagfeltet.

Men hva skjer når “markedet” våkner og innser realitetene?

Jeg skal avslutte dette introduksjonsinnlegget med en referanse til en av HOs dyktige skribenter “Josik” hvem jeg faktisk inviterer til å delta her om han leser dette. Jeg kan betale tre måneders innsider medlemskap for ham om han velger å gi seg tilkjenne.

_Det som kan bli spennende er når Tembo 2 ev. drilles. Hva skjer med kursen i et selskap når den ligger og vaker rundt kr. 3,- og det drilles på et funn som potensielt kan øke verdien av aksjen med flere hundre kroner? _
_Blir det en skuffende boring så står vi igjen med Mnazi Bay og 2P verdier estimert til rundt kr. 8,- /aksje. _
Men vi vet jo ikke på forhånd, og hva når det nærmer seg en potesielt gledelig melding som i så fall betyr videre boring etter verdier på potensielt flere hundre kroner aksjen?

OK - dette får være nok til intro å være. Jeg anbefaler alle å finkjemme både nye og gamle WRL tråder over på HO for mer utfyllende informasjon.
(Og kanskje er vi heldige nok til at Josik og resten av gjengen følger med over?)

4 Likes

Dette er et wiki-innlegg som alle kan redigere for å lage en oversikt over alt man bør vite om denne investeringsmuligheten. Det hjelper nye og eksisterende medlemmer raskt forstå og ta stilling til en investering. Bruk Rediger-knappen nede til høyre for å legge til noe :slight_smile: Takk!

Jeg startet denne traaden for “ganske lenge siden”.

Det som siden har skjedd er to (eller faktisk tre) forholdsvis motstridende og egentlig oppsiktsvekkende ting.

    • WRL har faktisk gjentatte ganger(!) med boersmeldinger bekreftet at de leverer som bare fy, hvilket betyr bedre enn hva de guider. WRL tjener penger og reduserer sin lille kontrollerte gjeld etter planen.
  • En storkjoeper fikk tilslaget paa en relativt betydelig post.
  • Hva gjelder gassleveranser fra MnaziBay feltet som alene forsvarer en kurs paa ca 8 NOK per i dag saa mottar man regelmessig betalinger, med stabil produksjon (hvilket beviser at broennene leverer, og at feltet har et utmerket potensiale for utvidelser, og derfor ogsaa oppgradering av markedsverid paa topp av de nevnte 8 NOK.
  • WRL er ogsaa innehaver av lisens for Tembo feltet, hvilket muligens er det som slaar negativt ut paa kursen. WRL sitter paa data som indikerer at Tembo-feltet inneholder enorme mengder med olje og mener at Anadarko trakk seg ut av feltet paa feil tolking av data.
    De “negative” sider ved Tembo er slik jeg forstaar det feilaktig inkludert i WRL. WRL har sagt at de IKKE kommer til aa satse alene, men insisterer paa at feltet skal farmes ut. Det ser ikke ut til at markedet tror riktig paa dette, men at de mistenker at WRL bruker sin gode kontantstrom fra Mnazi Bay feltet til dette (hvilket altsaa ikke er riktig.
  • Dessverre er Tembo-feltet lokalisert i ett omraade i Mosambic hvor muslimer har stor og negativ innflytelse. Uansett hva muslimer tar i, saa skal ting tilbake til steinalderen - eller deromrking, og uansett om omgivelsene vil det eller ikke, saa har vestens venstrevridde globalister bestemt at det er helt kurant at folk tilhoerende andre trosretninger i omraadet faar kuttet strupen, at kvinner og barn (av annerledestenkende blir sex-slaver og at investeringer i omraadet blir ansett som…hodeloest.
  1. Kursen har gaatt ned til under 3,-

  2. Mitt eget utsalg, i tre paafoelgende dager, har nok gitt meg mye pepper paa andre forums traader om WRL, men det faar staa sin proeve.
    Jeg er nok der i kategorein idioter som selger naar det er i ferd med aa ta av og ikke har taalmodighet til aa vente. Vel, jeg skal heller gaa inn igjen paa passende tidspunkt.
    Ikke har jeg kommentert der etter utsalget (hvilket kunne ha vaert greit - en gang) Og ikke kommer jeg til aa kommentere mer heller inntil jeg forhaapentligvis faar bekreftet mitt valg av Funcom som aksjen jeg valgte aa staa i.

OK, saa har jeg i allefall lagget meg helt ute av WRL her paa TI. Og jeg sier dere ogsaa at kan hende er det akkurat WRL som burde passe dere godt for omplassering av eventuell gevinst i Funcom. For, om jeg tok feil hva gjelder tidsperspektivet forut, ja saa er det virkelig naa at ting virkelig faller paa plass.

Jeg er altsaa helt ute, men akter vitterlig aa ga inn igjen.

Takk

Wentworth Resources Limited : Payment Update

|   |   |

PRESS RELEASE
1 August 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)

Payment update

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, today provides an update to shareholders.

The Company is pleased to inform shareholders that payments received during July 2018 for gas sales generated from the Mnazi Bay Concession in Tanzania totalled $3.7 million net to Wentworth. Payments were received from both Tanzania Petroleum Development Corporation (“TPDC”) and Tanzania Electric Supply Company Limited (“Tanesco”) for one month’s gas sales to TPDC and one month’s gas sales to TANESCO.

The Company is also pleased to report that gross production volumes during July 2018 from the Mnazi Bay gas field averaged 90 MMscf/d.

-Ends-

|   |   |   |
|   |   |   |
|   |   |   |

| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer | rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |

|   |   |   |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|

GMP FirstEnergy |

Broker (UK)
Hugh Sanderson
Jonathan Wright |

+44 (0) 20 7448 0200 |
|

Peel Hunt LLP |

Broker (UK)
Richard Crichton
Ross Allister |

+44 (0) 20 7418 8900 |
|   |   |   |
| FTI Consulting | Investor Relations Adviser (UK)
Sara Powell
Kim Camilleri | wentworth@fticonsulting.com
+44 (0) 20 3727 1000

  |

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.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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, 2017, 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

180801 Press Release Payment Update


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20180801.GlobeNewswire.HUG2208402

Wentworth Resources Limited : Shareholder Update and Conference Call

PRESS RELEASE

1 August 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)

Shareholder Update and Conference Call

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, will be hosting an investor meeting which will be held at the offices of SpareBank 1 Markets AS, Olav V’s Gate 5 - 0161 Oslo, Norway) at 1:00pm CEST / 12:00pm BST on Wednesday 8 August 2018.

This meeting will provide investors with an opportunity to meet the Company’s new CEO Eskil Jersing, Chairman Bob McBean and CFO Katherine Roe, and for the Company to answer any questions from Norwegian shareholders in regards to the Companies activities and planned delisting from the Oslo Stock Exchange.  Representatives from the Company’s legal counsel, Thommessen AS, and the Company’s Registrar, Nordea Bank AB, will also be in attendance at the meeting to help assist with any queries.

Ahead of the meeting, the Company has provided some further details for Norwegian shareholders regarding the future trading of their shares which can be found appended to this announcement and also published on the Frequently Asked Questions page under the Investors section of the corporate website, later today.
   
Please register your interest to attend by Monday 6 August 2018 by emailing the Company at wentworth@fticonsulting.com.  Those investors, who are unable to attend in-person, will be able to dial into the meeting and ask questions using the details provided below. If you would like to register any questions ahead of the meeting, please send them in an email to the address above.

Dial in details for the shareholder meeting:

| Participant dial-in: |   |
|   |   |
| Norway (toll-free) | 800 621 96 |
| Norway | +47 23500243 |
| UK (toll-free) | 0800 358 9473 |
| UK | +44 333 300 0804 |
|   |   |
| Participant Pin: | 54691872# |

-Ends-

|   |   |   |
| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

  | rpm@wentworthresources.com

|
|   | Eskil Jersing,
Chief Executive Officer

  | eskil.jersing@wentworthresources.com
+44 7717 847623

  |
|   | Katherine Roe,
Chief Financial Officer

  | katherine.roe@wentworthresources.com
+44 7841 087 230

  |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|

GMP FirstEnergy |

Broker (UK)
Hugh Sanderson
Jonathan Wright |

+44 (0) 20 7448 0200 |
|

Peel Hunt LLP |

Broker (UK)
Richard Crichton
Ross Allister |

+44 (0) 20 7418 8900

  |
|

FTI Consulting |

Communications Adviser (UK)
Sara Powell
Molly Stewart

  |

wentworth@fticonsulting.com
+44 (0) 20 3727 1000 |

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.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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, 2017, 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

180801 Press Release Shareholder Update
180801 FAQ


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20180801.GlobeNewswire.HUG2208405

Shareholder Meeting

PRESS RELEASE
8th August 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)
Shareholder Meeting

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil & gas company, would like to remind
shareholders that the Company will be hosting an investor meeting today,
Wednesday 8 August 2018 at the offices of SpareBank 1 Markets AS, Olav V’s Gate
5 - 0161 Oslo, Norway) at 1:00pm CEST / 12:00pm BST.

As previously noted, the meeting will provide investors with an opportunity to
meet the Company’s new CEO Eskil Jersing, Chairman Bob McBean and CFO Katherine
Roe, and for the Company to answer any questions from Norwegian shareholders in
regards to the Companies activities and planned delisting from the Oslo Stock
Exchange.

Please register your interest to attend the meeting today by 10:00am CEST /
09:00am BST, by emailing the Company at wentworth@fticonsulting.com. Those
investors who are unable to attend in-person, will be able to dial into the
meeting and ask questions using the details provided below. If you would like to
register any questions ahead of the meeting, please send them in an email to the
address listed above.

Dial in details for the shareholder meeting:

Participant dial-in:
Norway (toll-free)800 621 96
Norway +47 23500243
UK (toll-free) 0800 358 9473
UK +44 333 300 0804
Participant Pin: 54691872#

-Ends-

Enquiries:
Wentworth
Bob McBean,
Executive Chairman
rpm@wentworthresources.com

Eskil Jersing,
Chief Executive Officer
eskil.jersing@wentworthresources.com
+44 7717 847623

Katherine Roe,
Chief Financial Officer
katherine.roe@wentworthresources.com
+44 7841 087 230

Stifel Nicolaus Europe Limited
AIM Nominated Adviser and Broker (UK) +44 (0) 20 7710 7600
Callum Stewart
Ashton Clanfield

GMP FirstEnergy Broker (UK) +44 (0) 20 7448 0200
Hugh Sanderson
Jonathan Wright

Peel Hunt LLP
Broker (UK) +44 (0) 20 7418 8900
Richard Crichton
Ross Allister

FTI Consulting
Communications Adviser (UK) wentworth@fticonsulting.com
+44 (0) 20 3727 1000

Sara Powell
Molly Stewart

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.

Inside Information

The information contained within this announcement is deemed by Wentworth to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) no. 596/2014 (“MAR”). On the publication of this announcement via a
Regulatory Information Service (“RIS”), this inside information is now
considered to be in the public domain.

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, 2017,
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.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=456689

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180808.OBI.20180808S19

Wentworth Resources Limited : Half Year Financial Statements and MD&A

PRESS RELEASE
16 August 2018

Wentworth Resources Limited

(“Wentworth” or the “Company”)

Half Year Financial Statements and MD&A

Wentworth Resources Limited, the Oslo Stock Exchange (OSE: WRL) and London Stock Exchange (AIM: WRL) listed independent, East Africa-focused oil & gas company, today announces its results for the quarter and six months ended 30 June 2018.

The following should be read in conjunction with the Q2 2018 Management Discussion and Analysis and Financial Statements which are available on the Company’s website at [http://www.wentworthresources.com](<a%20href=)" target="_blank">http://www.wentworthresources.com.

Corporate

Wentworth’s share of Tanzanian Proved + Probable (2P) reserves valued at $159.6 million (after-tax NPV10) on 2P reserves of 115.1 Bscf, as at December 31, 2017 and independently verified by RPS;

Company continues to progress its Canada to UK re-domicile and Oslo Børs delisting plans;

UK based management team in place following relocation of corporate headquarters from Calgary, Canada to London, UK. CFO Katherine Roe appointed April 1, 2018; CEO Eskil Jersing appointed June 25, 2018.

Financial

Achieved milestone Mnazi Bay gas sales revenue of $10.79 million, 112% higher compared to H1 2017 of $5.10 million;

Improved EBITDA by 229% to $4.18 million compared to H1 2017;

Net loss of $6.5 million (H1 2017: $1.66 million), including a non-cash deferred tax expense of $8.68 million;

Cash and cash equivalents on hand of $4.04 million (December 2017: $3.75 million) as at June 30, 2018;

Working capital of $15.45 million (December 2017: $15.14 million);

Reduced outstanding long-term loans by $2.67 million during the first half of 2018;

Carrying value of long-term loans $13.11 million (December 2017: $15.90 million);

Development capital expenditures of $0.69 million on field infrastructure (tie-in) improvements in the Mnazi Bay Concession in Tanzania;

Exploration capital expenditures of $0.98 million on the Tembo Appraisal License in Mozambique;

G&A expense of $5.15 million including non-recurring expenses $2.92 million and recurring G&A of $2.23 million (H1 2017: $2.01 million);

Non-recurring expenses includes, management re-structuring costs of $0.83 million comprising Calgary employee severance and travel expenses related to corporate re-structuring; redomicile costs of $0.34 million comprising consultancy, legal and professional charges and; Tanzanian tax assessments of $1.75 million for the years of 2013 to 2016.

Operational

Tanzania

Average gross daily gas production for the period increased 115% to 79.3 MMscf/d from 36.9 MMscf/d in H1 2017; above current annual 2018 guidance of 65-75 MMscf/d.

Exited H1 2018 with a new high daily gas production rate of 89 MMscf/d;

Production ramp up due to Kinyerezi-I and Ubungo-II power stations operating at near full capacity, commissioning of the Kinyerezi-II gas-fired power station during Q4 2017, increasing growth in demand from Industrial customers and lower quantities of gas supplied by industry competitors; 

Low operating expense costs of $ 0.43 / Mscf (H1 2017: $1.16 / Mscf) leveraging increased production volumes;

Received total cash payments of $12.97 million from gas sales and recovery of long-term government receivables during the first half of 2018;

Regular monthly payments for gas sales continue to be received. As at June 30, 2018 six invoices for gas sales to TPDC were outstanding, with the increase in receivables being accounted for by the increase in gas sales in the outstanding months. Post June 30, 2018, TPDC has paid three invoices.

Mozambique

A 12-month extension of the Tembo Appraisal License was granted by Instituto Nacional de Petroleo (“INP”) on June 16, 2018;

During the first six months of 2018 above ground security continued to be a concern, especially in the Mocimboa da Praia and Palma regions. The Company continues to monitor the situation;

Wentworth continues to seek a risk sharing partner, whilst in parallel advancing its technical studies, with a focus on commercial and monetisation options. Work continues on a subsurface review on materiality thresholds, reservoir properties and economic flow rate potential.

Eskil Jersing, Chief Executive Officer, commented:

"The first half of 2018 has seen Wentworth make material progress on Mnazi Bay Production growth, receipt of revenues and long term receivables, deleveraging of our balance sheet and redomicile of the Company to the UK. In particular, we have exited Q2 2018 with milestone production of 89 MMcf/d on Mnazi bay. Further, we have fully transitioned the Management team from Calgary to the UK and continue to make strides towards a simpler, cheaper, efficient and more robust platform for growth.

We have a strong and empowered team across the Company, all working diligently on maximising the value of our assets and towards a leaner operating model. I look forward to continuing  to help unlock the latent value in our core Mnazi Bay asset and sharing progress on our path to value with all our shareholders."

|
Enquiries: 
Wentworth |  

Eskil Jersing,
Chief Executive Officer

  |  

eskil.jersing@wentworthresources.com
+44 7717 847623 |
| Katherine Roe,
Chief Financial Officer | katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| GMP FirstEnergy | Broker (UK)
Hugh Sanderson
Jonathan Wright | +44 (0) 20 7448 0200 |
|   |   |   |
| Peel Hunt LLP

  | Broker (UK)
Richard Crichton
Ross Allister | +44 (0) 20 7418 8900

  |
|   |   |   |
| FTI Consulting | Communications Adviser (UK)
Sara Powell
Molly Steward | wentworth@fticonsulting.com
+44 (0) 20 3727 1000 |

Financial Statements

The following primary statements have been extracted from the H1 2018 unaudited consolidated financial statements which are located on the Company’s website at [http://www.wentworthresources.com](<a%20href=)" target="_blank">www.wentworthresources.com.

WENTWORTH RESOURCES LIMITED
Unaudited Condensed Consolidated Interim Statement of Financial Position
United States $000s, unless otherwise stated

|   | June 30,
2018 | December 31,
2017 |
|   |   |   |
| ASSETS |   |   |
| Current assets |   |   |
| Cash and cash equivalents | 4,043 | 3,750 |
| Trade and other receivables | 20,591 | 13,322 |
| Prepayments and deposits | 204 | 191 |
| TPDC receivables | 8,704 | 15,550 |
|   | 33,542 | 32,813 |
| Non-current assets |   |   |
| Tanzania Government receivables | 4,959 | 4,959 |
| Exploration and evaluation assets | 48,903 | 47,921 |
| Property, plant and equipment | 87,804 | 90,336 |
| Deferred tax asset | 22,073 | 30,751 |
|   | 163,739 | 173,967 |
| Total assets | 197,281 | 206,780 |
|   |   |   |
| LIABILITIES |   |   |
| Current liabilities |   |   |
| Trade and other payables | 6,011 | 5,726 |
| Overdraft credit facility | 2,500 | 2,500 |
| Current portion of long-term loans | 7,936 | 7,260 |
| Other liability | 1,646 | 2,189 |
|   | 18,093 | 17,675 |
| Non-current liabilities |   |   |
| Long-term loans | 5,170 | 8,636 |
| Decommissioning provision | 917 | 865 |
|   | 6,087 | 9,501 |
| Equity |   |   |
| Share capital | 416,426 | 416,426 |
| Equity reserve | 26,516 | 26,490 |
| Accumulated deficit | (269,841) | (263,312) |
|   | 173,101 | 179,604 |
| Total liabilities and equity | 197,281 | 206,780 |

WENTWORTH RESOURCES LIMITED
Unaudited Condensed Consolidated Interim Statement of Comprehensive Loss
United States $000s, unless otherwise stated

|   | Six months ended June 30, |
|   | 2018 | 2017 |
|   |   |   |
|   |   |   |
| Total revenue | 10,792 | 5,096 |
|   |   |   |
| Operating expenses |   |   |
| Production and operating | (1,470) | (1,813) |
| General and administrative | (2,228) | (2,014) |
| Tanzanian withholding tax costs | (1,750) | - |
| Management restructuring costs | (832) | - |
| Redomicile costs | (335) | - |
| Depreciation and depletion | (3,220) | (1,548) |
| Share based compensation | (26) | (145) |
| Profit/(loss) from operations | 931 | (424) |
|   |   |   |
| Finance income |  2,053 | 991 |
| Finance costs | (671) | (2,449) |
| Profit/(loss) before tax | 2,313 | (1,882) |
|   |   |   |
| Current tax expense | (164) | - |
| Deferred tax (expense)/recovery | (8,678) | 227 |
|  

  | (8,842) | 227 |
| Net loss and comprehensive loss | (6,529) | (1,655) |
|   |   |   |
| Net loss per ordinary share |   |   |
| Basic and diluted (US$/share) | (0.04) | (0.01) |
|   |   |   |

WENTWORTH RESOURCES LIMITED
Unaudited Condensed Consolidated Interim Statement of Changes in Equity
United States $000s, unless otherwise stated

|   |  

Number of shares |  

Share capital |  

Equity reserve |  

Accumulated
deficit |  

Total
 equity |
|   |   | $ | $ | $ | $ |
|   |   |   |   |   |   |
|   |   |   |   |   |   |
| Balance at December 31, 2016 | 169,534,969 | 411,493 | 26,275 | (261,857) | 175,911 |
| Net loss and comprehensive loss | - | - | - | (1,655) | (1,655) |
| Share based compensation | - | - | 145 | - | 145 |
| Issued of share capital | 16,953,496 | 5,527 | - | - | 5,527 |
| Share issue costs, net of tax | - | (594) | - | - | (594) |
| Balance at June 30, 2017 | 186,488,465 | 416,426 | 26,420 | (263,512) | 179,334 |
|   |   |   |   |   |   |
|   |   |   |   |   |   |
|   |   |   |   |   |   |
| Balance at December 31, 2017 | 186,488,465 | 416,426 | 26,490 | (262,566) | 180,350 |
| IFRS 9 transitional adjustment | - | - | - | (746) | (746) |
| Net loss and comprehensive loss | - | - | - | (6,529) | (6,529) |
| Share based compensation | - | - | 26 | - | 26 |
| Balance at June 30, 2018 | 186,488,465 | 416,426 | 26,516 | (269,841) | 173,101 |
|   |   |   |   |   |   |

WENTWORTH RESOURCES LIMITED
Unaudited Condensed Consolidated Interim Statement of Cash Flows
United States $000s, unless otherwise stated

|   |   | Six months ended June 30, |
|   |   |   | 2018 | 2017 |
|   |   |   |   |   |
| Operating activities |   |   |   |   |
| Net loss for the year |   |   | (6,529) | (1,655) |
| Adjustments for: |   |   |   |   |
| Depreciation and depletion |   |   | 3,220 | 1,548 |
| Finance (income)/costs, net |   |   | (1,382) | 1,458 |
|   Deferred tax expense/(recovery) |   |   | 8,678 | (227) |
| Share based compensation |   |   | 26 | 145 |
|   |   |   | 4,013 | 1,269 |
| Change in non-cash working capital: |   |   |   |   |
| Trade and other receivables |   |   | (3,779) | (1,503) |
| Prepayments and deposits |   |   | (14) | 12 |
| Trade and other payables |   |   | 807 | (360) |
| Net cash generated from/(utilized in) operating activities |   |   | 1,027 | (582) |
|   |   |   |   |   |
| Investing activities |   |   |   |   |
| Additions to exploration and evaluation assets |   |   | (982) | (950) |
| Additions to property, plant and equipment |   |   | (932) | (391) |
| Reduction of long-term receivable |   |   | 5,407 | 2,400 |
| Proceeds from sale of office assets |   |   | 3 |   |
| Net cash from investing activities |   |   | 3,496 | 1,059 |
|   |   |   |   |   |
| Financing activities |   |   |   |

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|

http://www.netfonds.no/quotes/release.php?id=20180816.GlobeNewswire.HUG2210966

Wentworth Resources Limited : Change of Broker

|   |   |

PRESS RELEASE
20 August 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)

Change of Broker

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, confirms that its Brokers comprise Stifel Nicolaus Europe Limited and Peel Hunt LLP. Stifel Nicolaus Europe Limited continues to act as the Company’s Nominated Adviser.

-Ends-

| Enquiries: 
Wentworth | Eskil Jersing
Chief Executive Officer | |
|   |   |   |
|   | Katherine Roe,
Chief Financial Officer | katherine.roe@wentworthresources.com
+44 7841 087 230
  |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker
Callum Stewart
Nicholas Rhodes
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker
Richard Crichton
Ross Allister

| +44 (0) 20 7418 8900 |
| FTI Consulting | Investor Relations Adviser
Sara Powell
Kim Camilleri | wentworth@fticonsulting.com 
+44 (0) 20 3727 1000 |

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, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain

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.

180820 Press Release


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

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http://www.netfonds.no/quotes/release.php?id=20180820.GlobeNewswire.HUG2211560

Wentworth Resources Limited : Posting of Shareholder Materials and Proposed Director Appointments

|   |   |

PRESS RELEASE
22 August 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)

Posting of Shareholder Materials and Proposed Director Appointments

Wentworth, the Oslo Børs (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, announces that it has today published a Notice of Special Meeting of Shareholders, a Management Information Circular and Proxy Forms (the “Shareholder Materials”) on its website (www.wentworthresources.com) and on NewsWeb (www.newsweb.oslobors.no/).

The Shareholder Materials relate to resolutions for the proposed re-domiciliation of Wentworth from Alberta, Canada to Jersey (the “Continuance”), the proposed de-listing of Wentworth from the Oslo Børs (the “Delisting”), as well as certain related share authority and other resolutions. 

The Shareholder Materials further note the proposed appointment to the Board of Katherine Roe, Wentworth’s Chief Financial Offer, as an executive director, and Iain McLaren and Tim Bushell as independent Non-Executive Directors of the Company (the “Proposed Directors”), immediately following, and conditional upon, the completion of the Continuance.

Background

On 16 November 2017, the Company announced that it was undertaking a restructuring process to better align its corporate and management structures with its shareholders and asset base in Africa. At the time, Wentworth was incorporated under the laws of the Province of Alberta, Canada, with a Canada based executive management team, assets in East Africa and stock market listings in both Norway and the UK. This led to a disproportionate amount of management time, effort and cost incurred dealing with the practical consequences of a multi-jurisdictional group structure and dual-listing, compared to peer Exploration & Production companies of a similar size.

The primary rationale for the proposed Continuance and Delisting included the need for:

a UK based executive management team;

increased management efficiencies and reduction in corporate complexity;

reduction in certain operational and regulatory burdens and overhead / compliance costs;

improved access to the Company’s institutional investors;

closer proximity and to be in the same general time zone to the Company’s asset base;

direct access to the London M&A and A&D markets;

established E&P sector research coverage in London; and

a simpler transactional platform for both organic and inorganic growth initiatives.

             
The first step in addressing these transitional issues was the appointment of a UK based executive management team in Eskil Jersing as Chief Executive Officer and Katherine Roe as Chief Financial Officer to take the Company forward, which were announced on 15 January 2018 and 28 March 2018 respectively.

Continuance

The Continuance is expected to provide the Company with a number of benefits, including:

a reduction in the time and costs associated with international travel required to hold meetings of the Board and manage the Company’s assets and maintain relationships with its JV partners, as Jersey is more conveniently located in relation to the Company’s operations than Canada;

in the event the Company were to pay dividends, Canadian withholding tax applicable to dividends paid to Shareholders outside Canada will be eliminated;

with no commercial connections to Canada, there is no reason for the Company to be domiciled in Canada and subject to Canadian income and capital gains taxes or for it to bear the compliance costs associated with being a Canadian company; and

being subject to a UK corporate governance regime and the City Code on Takeovers and Mergers is expected to make the Company more attractive to UK institutional investors.

             
Save for the appointment by the board of directors of the Proposed Directors whose appointment is conditional upon the completion of the Continuance, the Board, current executive management and voting controls of the Company are expected to remain unchanged.

As part of the Continuance, the Company’s name will change to “Wentworth Resources Plc”.

The Delisting

The Company has been listed on the Oslo Børs since 2005 and AIM since October 2011. The Board has, over time, monitored the benefits of having a dual-listing and is now of the view that the benefits of being listed on the Oslo Børs, in addition to the listing on AIM, no longer outweigh the costs and additional regulatory burdens.

At present, the Company is required to comply with both the Norwegian rules applicable to companies listed on the Oslo Børs and the AIM Rules for Companies, which differ in certain areas and accordingly impose additional regulatory burdens and increased compliance costs. These would be avoided if the Delisting were approved. The Directors conversely believe that the AIM listing has enhanced and will further enhance Shareholder value by allowing the Company and Shareholders to benefit from the presence of an established E&P research sector and improved access to UK institutional and retail investors. Additionally, the market for small cap E&P companies with international assets beyond the North Sea is significantly more developed on AIM, when compared to the Oslo Stock Exchange.

The Directors believe that given the Company’s size, stage of development and strategy, it is more appropriate and beneficial for it to continue to be listed on AIM rather than on the Oslo Børs.

Directors

Immediately following the Continuance (and conditional upon the completion of the Continuance) it is intended that the Proposed Directors shall be appointed by the board of directors as described above.

Ms. Katherine Roe

Katherine has been Vice President Corporate Development & Investor Relations for the Company since 2014 and has 19 years of senior corporate and capital markets experience. Prior to joining Wentworth, Katherine spent 11 years at Panmure Gordon having moved from Morgan Stanley’s investment banking division. She is currently an independent Non-Executive Director of Faroe Petroleum plc, where she will take over the role of Audit Chair in 2019.

Mr. Iain McLaren

Mr. McLaren has significant experience in the oil and gas sector with deep experience as Audit committee chair. He is currently a Non-Executive Director of Jadestone Energy Inc. and until May 2018 was Senior Independent Director and Chair of the Audit Committee for Cairn Energy plc. He is currently Chairman of F&C UK High Income Trust plc as well as the director of four investment trust Companies. He is a past President of the Institute of Chartered Accountants of Scotland and was a partner of KPMG for 28 years until 2008.  

Mr. Tim Bushell

Mr. Bushell is a qualified geologist with more than 30 years’ experience in the oil and gas industry. He has worked at British Gas, Ultramar, LASMO, and Paladin Resources. Most recently Tim was Chief Executive Officer at Falkland Oil and Gas Limited and Director/co-founder of Core Energy AS. He is currently serving as a Non-Executive Director on the Board of Rockhopper Exploration PLC, Genel Energy plc and Petro Matad Limited and as a Director of Point Resources AS and Redrock Energy Limited.

The appointment of the Proposed Directors by the board of directors will add significant financial, technical and operational experience to the Board, providing a stronger platform to execute on its strategic aspirations.

Timetable of Events (UK time)

| Publication of the Information Circular and accompanying Shareholder Materials

  |   | 22 August 2018 |
| Record Date for mailing to Shareholders and to vote at the Special Meeting

  |   | 21 August 2018 |
| Mailing of proxy-related-materials to Shareholders |   | 22 August 2018 |
| Latest time and date for receipt of VPS Interest Holders’ completed VPS Forms of Proxy for the Special Meeting

  |   | 10.00 a.m. on 26 September 2018 |
| Latest time and date for receipt of DI Holders’ completed Forms of Direction and receipt of electronic proxy appointments via the CREST system for the Special Meeting

  |   | 10.00 a.m. on 27 September 2018 |
| Latest time and date for receipt of Registered Shareholders’ completed Forms of Proxy for the Special Meeting

  |   | 10.00 a.m. on 28 September 2018 |
| Date and time of Special Meeting

  |   | 10.00 a.m. on  2 October 2018 |
| Announcement of results of Special Meeting

  |   | 2 October 2018 |
| Continuance expected to take effect |   | October 2018 |

-Ends-

| Enquiries:  |   |   |
| Wentworth | Eskil Jersing,
Chief Executive Officer | eskil.jersing@wentworthresources.com
+44 7717 847 623 |
|   |   |   |
|   | Katherine Roe,
Chief Financial Officer

  | katherine.roe@wentworthresources.com
+44 7841 087 230

  |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield

  | +44 (0) 20 7710 7600 |
| Peel Hunt LLP

 

  | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900

  |
| FTI Consulting | Investor Relations Adviser (UK)
Sara Powell
Kim Camilleri | wentworth@fticonsulting.com
+44 (0) 20 3727 1000 |

About Wentworth

Wentworth is a publicly traded (OSE: WRL, AIM: WRL), independent oil & gas company with: natural gas production; exploration and appraisal opportunities; all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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 period ended 30 June 2018, available on Wentworth’s website, for further description of the risks and uncertainties associated with Wentworth’s business.

Notice

Neither the Oslo Børs 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. 

Information Circular
Notice of Meeting and Access
180822 Press Release
Forms of Proxy and Direction


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

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http://www.netfonds.no/quotes/release.php?id=20180822.GlobeNewswire.HUG2212338

Wentworth Resources Limited : Notification of Major Interest in Shares

Wentworth Resources Limited has received the attached notification of major interest in shares from Sustainable Capital Ltd.

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

180822 Notification of Major Interest in Shares


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

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Wentworth Resources Limited: Shareholder Meeting

PRESS RELEASE
8th August 2018

WENTWORTH RESOURCES LIMITED

(“Wentworth” or the “Company”)

Shareholder Meeting

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, would like to remind shareholders that the Company will be hosting an investor meeting today, Wednesday 8 August 2018 at the offices of SpareBank 1 Markets AS, Olav V’s Gate 5 - 0161 Oslo, Norway) at 1:00pm CEST / 12:00pm BST.

As previously noted, the meeting will provide investors with an opportunity to meet the Company’s new CEO Eskil Jersing, Chairman Bob McBean and CFO Katherine Roe, and for the Company to answer any questions from Norwegian shareholders in regards to the Companies activities and planned delisting from the Oslo Stock Exchange. 

Please register your interest to attend the meeting today by 10:00am CEST / 09:00am BST, by emailing the Company atwentworth@fticonsulting.com. Those investors who are unable to attend in-person, will be able to dial into the meeting and ask questions using the details provided below. If you would like to register any questions ahead of the meeting, please send them in an email to the address listed above.

Dial in details for the shareholder meeting:

Participant dial-in:
Norway (toll-free) 800 621 96
Norway +47 23500243
UK (toll-free) 0800 358 9473
UK +44 333 300 0804
Participant Pin: 54691872#

-Ends-

Enquiries:   Bob McBean, rpm@wentworthresources.com
Wentworth Executive ChairmanEskil eskil.jersing@wentworthresources.com+44 7717
Jersing,Chief 847623katherine.roe@wentworthresources.com+44
Executive 7841 087 230
OfficerKatherine
Roe,Chief Financial
Officer

Stifel AIM Nominated Adviser +44 (0) 20 7710 7600
Nicolaus and Broker (UK)
Europe
Limited
Callum Stewart
Ashton Clanfield
GMP Broker (UK) +44 (0) 20 7448 0200
FirstEnergy
Hugh SandersonJonathan
Wright
 Peel Hunt  Broker (UK)Richard +44 (0) 20 7418
LLP    FTI CrichtonRoss 8900wentworth@fticonsulting.com+44 (0) 20
Consulting Allister  Communications 3727 1000
Adviser (UK)
Sara PowellMolly Stewart

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.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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, 2017, 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. 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Ekstern link: http://news.cision.com/wentworth-resources/r/wentworth-resources-limited–shareholder-meeting,c2605762
Ekstern link: http://mb.cision.com/Main/17450/2605762/900885.pdf

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Wentworth Resources Limited : Results of Special Meeting

PRESS RELEASE
2 October 2018

WENTWORTH RESOURCES LIMITED 
(“Wentworth” or the “Company”)

Results of Special Meeting

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, is pleased to announce that all resolutions were duly passed at the Company’s Special Meeting held on 2 October 2018 in London, United Kingdom. A copy of the minutes of the meeting will be available on the Company’s website, www.wentworthresources.com.

Proxies were received by the Company from shareholders prior to the meeting as follows:

|   | In favour | Against |
|   | Number of votes | % of total votes cast | Number of votes | % of total votes cast |
| Resolution 1

  | 101,045,710 | 95.53% | 4,729,451 | 4.47% |
| Resolution 2

  | 85,784,674 | 80.96% | 20,171,187 | 19.04% |
| Resolution 3

  | 87,458,398 | 82.58% | 18,443,463 | 17.42% |

The Company will now submit applications to enact the Continuance and delisting and will make a further announcement, including expected timetable, in respect of these processes in due course.

Unless otherwise defined, capitalised terms in this announcement have the same meaning ascribed to them in the Company’s Posting of Shareholder Materials and Proposed Director Appointments announcement dated 22 August 2018.

-Ends-

Enquiries:

| Wentworth | Chief Executive Officer
Eskil Jersing | eskil.jersing@wentworthresources.com
+44 (0) 7717 847623 |
|   | Chief Financial Officer
Katherine Roe | katherine.roe@wentworthresources.com
+44 (0) 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield
  | +44 (0) 20 7710 7600 |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| FTI Consulting | Investor Relations Adviser (UK)
Sara Powell
Kim Camilleri | wentworth@fticonsulting.com 
+44 (0) 20 3727 1000 |

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.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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, 2017, 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

181002 Press Release


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181002.GlobeNewswire.HUG2218873

Wentworth Resources Limited : Primary Insider Notification

|   |   |

2 October 2018

WENTWORTH RESOURCES LIMITED
(“Wentworth” or the “Company”)

Primary Insider Notification

Reference is made to the stock exchange announcement by Wentworth, the Oslo Børs (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, dated 2 October 2018, regarding the results of the special meeting of the Company held on 2 October 2018 (the " Special Meeting"), resolving, inter alia, the re-domiciliation of Wentworth from Alberta, Canada to Jersey, Channel Islands (the " Continuance").

Pursuant to the Business Corporations Act (Alberta) (the " ABCA"), eligible shareholders had a right to dissent to the Continuance, provided that notification of such dissent has been sent to the Company at or prior to the Shareholders’ Meeting. Shareholders who have exercised (and not withdrawn) such right of dissent will, provided that the Continuance becomes effective, be deemed to have transferred to the Company for cancellation their common shares (determined as of the close of business on the last business day (in Alberta) before the day of the Shareholders’ Meeting (i.e. on 1 October 2018)).

Based on a preliminary counting of the number of shareholders having exercised their right of dissent and the number of common shares held by them as of the relevant date, the Company announces that it will be required to acquire 2,329,326 common shares of the Company, representing 0.88% of the issued and outstanding common shares of the Company, from dissenting shareholders. The relevant shares will be deemed transferred to the Company at the time the Continuance becomes effective (expected late October 2018). The Company will pay a price per common share acquired equal to the fair value of such shares determined as of the close of business on 1 October 2018, as agreed between the Company and each dissenting shareholder or, absent such agreement, as determined by a court of law having jurisdiction over the matter, as further governed by the ABCA. The Company will publish an update of the number of common shares the Company will be required to acquire, if the number change following the final counting of such number of shares.

The common shares acquired by Wentworth will be cancelled and the Company will, following such cancellation, not own any common shares in the Company.

Enquires:

| Wentworth | Eskil Jersing,
Chief Executive Officer | eskil.jersing@wentworthresources.com
+44 7717 847 623 |
|   |   |   |
|   | Katherine Roe,
Chief Financial Officer

  | katherine.roe@wentworthresources.com
+44 7841 087 230

  |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK) | +44 (0) 20 7710 7600 |
|   | Callum Stewart |   |
|   | Ashton Clanfield |  

  |
|  

Peel Hunt LLP

 

  |  

Broker (UK)
Richard Crichton
Ross Allister

  |  

+44 (0) 20 7418 8900

  |
| FTI Consulting | Investor Relations Adviser (UK) | wentworth@fticonsulting.com
+44 (0) 20 3727 1000 |
|   | Sara Powell
Kim Camilleri |   |

About Wentworth

Wentworth is a publicly traded (OSE: WRL, AIM: WRL), independent oil & gas company with: natural gas production; exploration and appraisal opportunities; all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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 period ended 30 June 2018, available on Wentworth’s website, for further description of the risks and uncertainties associated with Wentworth’s business.

Notice

Neither Oslo Børs 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.

181002 Primary Insider Notification


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181002.GlobeNewswire.HUG2218892

Wentworth Resources Limited : Corporate, Operational and Resource Update

PRESS RELEASE
3 October 2018

WENTWORTH RESOURCES LIMITED 
(“Wentworth” or the “Company”)

Corporate, Operational and Resource Update

Transition and Redomicile of the Company

As announced on 2 October 2018, following the Company’s Special Meeting, and in line with the head office relocation of the Company from Calgary to London previously announced, the re-domicile of the Company to Jersey is progressing on schedule. Following the Special Meeting and the passed resolution related to the Continuance, the Company will now apply to:

The Registrar of Corporations in Alberta to grant a certificate of discontinuance; and

The Jersey Financial Services Commission for their approval of the Continuance.

The Company will also submit a Schedule 1 Pre-Admission Announcement, in order for the Company’s shares to be re-admitted to AIM in late October 2018, under the name Wentworth Resources plc and the new TIDM of WEN. On completion of the Continuance, the Proposed Directors, as previously announced, will be appointed to the Board of Wentworth Resources plc.

Delisting from Oslo Børs

Further to the Special Meeting and the resolution passed related to the application to de-list from Oslo Børs, the Company will shortly submit the delisting application to the Oslo Børs. The Company  will make a further announcement, including expected timetable, in respect of this process in due course.

Payment and Production update

The Company is pleased to inform shareholders that payments received for September 2018 gas sales generated from the Mnazi Bay Concession in Tanzania totaled $3.24 million net to Wentworth. Payments were received from both Tanzania Petroleum Development Corporation (“TPDC”) and Tanzania Electric Supply Company Limited (“TANESCO”) for one month’s gas sales to TPDC and one month’s gas sales to TANESCO.

The Company also reports that gross production volumes during September 2018 from the Mnazi Bay concession averaged 83.2 MMscfd. The September reduction in production volumes (August average of 87.9 MMscfd) was due to previously planned slick-line activities on the wells and TPDC hot-tapping operations for the Lodhia Steel works offtake.

Given the consistency of payments received to date in 2018, the Company no longer intends to release monthly updates to the market. Such information will be included in regular Corporate and Operational activity RNS updates.

Tanzania: Mnazi Bay PSA

The Mnazi Bay Production Sharing Agreement  (“Mnazi Bay”), is located onshore southern Tanzania (Mtwara region), approximately 410 km south of Dar es Salaam, covering an area of 756 km.  The Mnazi Bay asset is operated by Maurel et Prom (48.06%) with the Tanzania Petroleum Development Corporation “TPDC” (20%) and Wentworth Resources (31.94%) as joint venture partners.

The Mnazi Bay & Msimbati gas fields have been onstream and continuously producing since January 2007, initially through a testing and commissioning phase at c.2.5MMscfd to Mtwara.  In October 2015, the Madimba gas processing plant was completed and commissioned, allowing production to be ramped up to 44 MMscfd in 2016.  Production continued to grow to c.50 MMscfd in 2017. In 2018 production has averaged 82 MMscfd year to date and 86 MMscfd in Q3, from five producing wells. The Joint Venture is contracted (“DCQ”) to supply 82.5 MMscfd, with a Gas Sales Agreement (“GSA”) option to increase to 130 MMscfd.

The increase in production to the current plateau levels, has resulted in operating expenses being reduced from $1.16/Mscf in H1 2017 to $0.43/Mscf in H1 2018, as the mainly fixed costs are distributed over a larger production base.

Within Tanzania, Mnazi Bay is currently the pre-eminent domestic gas to power (“GTP”) supplier, with a c.53% market share. Tanzanian power generation capacity is currently c.1,500 MW, with some 780 MW derived from Natural gas.

Demand for Mnazi Bay gas is currently in excess of 95 MMscfd. Future demand is ramping up significantly, with Mtwara, Sumanga-Fungo, Kinyerezi III and Kinyerezi IV power plants all planned, with a projected combined additional demand of 180 MMscfd. To the Company’s knowledge, there are currently no uncommitted onshore 2P gas reserves to supply the near to mid-term demand requirements.

As part of the redomicile and AIM re-admission process, the Company commissioned an RPS Canada Competent Persons Report (“CPR”) evaluation of the Mnazi Bay field’s reserves which has resulted in gross 2P reserves of 541 Bscf of gas, with 111 Bscf of net attributable 2P reserves to Wentworth Resources (with an effective date 31 May 2018).  The NPV of the 2P reserves (net to Wentworth) was estimated at $121 million USD after tax (on a life-of-field basis).  RPS Canada estimated the upside reserves potential (3P) for the Mnazi Bay field at 817/152 Bscf (gross/net). This CPR is available on the Company’s website as of today and a reserves summary table follows below.

| Oil and Gas - Reserves at 31 May 2018
Mnazi Bay Licence, Tanzania |
|   | Gross | Net Attributable | Operator |
|   | Proved | Proved + Probable | Proved + Probable + Possible | Proved | Proved + Probable | Proved + Probable + Possible |
| Oil & Liquids Reserves | MMstb | MMstb | MMstb | MMstb | MMstb | MMstb |   |
| Mnazi Bay Gas Field | - | - | - | - | - | - | Maurel et Prom |
| Total for Oil and Liquids | - | - | - | - | - | - |   |
|   |   |   |   |   |   |   |   |
| Gas Reserves | Bscf | Bscf | Bscf | Bscf | Bscf | Bscf |   |
| Mnazi Bay Gas Field | 295 | 541 | 817 | 69 | 111 | 152 | Maurel et Prom |
| Total for Gas | 295 | 541 | 817 | 69 | 111 | 152 |   |

“Gross” are 100% of reserves attributable to the asset

“Net Attributable” are the net reserves volumes attributable to Wentworth

Activity & Production Outlook

Given the field is producing on plateau from the current well stock, Joint Venture technical and operational activity has focused on better understanding in-place volumes, reservoir connectivity, future production profiles, outlining infill well locations and defining additional exploration potential on the block.  These initiatives combine to ensure an integrated and pro-active field management strategy moving forwards.

From late August to early September 2018, slickline operations were performed in the MB-2, MB-3, MB-4, and MS-1X wells to remove downhole memory gauges, perform static pressure gradient surveys, and re-install downhole memory gauges.  This pressure monitoring campaign is ongoing and will help to address the remaining uncertainty with regards to the in-place (and recoverable) volumes in the Mnazi Bay field and the connectivity between the wells in the different reservoir intervals, with particular near-term focus on the lower MB interval, currently producing from the MB-1 well only.

Critically, the Mnazi Bay partners are working closely together to ascertain production profiles and plateau periods that can be achieved for different recoverable volumes, flow rates, pipeline inlet pressures and compression scenarios.  The results from this work suggest that at current stabilized production of 82.5-90 MMscfd, the plateau can be maintained until sometime between mid-2024 and late-2026, with limited capital expenditures (“CAPEX”).  Although the GSA provides the option for volumes of up to 130 MMscfd to be delivered, the Company does not believe this will be achieved until certain commercial conditions have been satisfied. 

In order to increase field production rates closer to a 130 MMscfd plateau, while still maintaining the capability to provide minimum contractual volumes of 80 MMscfd to Madimba (TPDC) and 2.5 MMscfd to Mtwara (TANESCO), Wentworth believes that additional well recompletions and/or drilling and compression facilities will be required in due course. 

In order to sustain and/or increase the Mnazi Bay production plateau Wentworth (along with the Operator) is focused on four key value catalysts:

Securing a full GSA to move to Commercial Operations Date “COD” declaration. As a result of the COD, the testing and commissioning period will end and all terms of the GSA will become effective.

Maintaining the production plateau to comply with the GSA, by focusing on network modifications including upgrading well flowline chokes, together with slickline jobs to open existing perforated intervals and conducting new perforations in unperforated horizons. This is made operationally simpler by the MB-2, MB-3, MB-4 and MS-1X wells having smart well completions, with sliding sleeves.

A reduction in the contractual optimum pipeline delivery point pressure from 95 bar(g) to 60 bar(g), which would allow for increased volumes per well, and sustained overall production rates and/or plateau periods from the current well stock, prior to installation of compression facilities. This is technically and operationally realizable, has the potential to extend the production plateau by c. 18 months on a standalone basis and c.42 months including slickline and chokes upgrade work; and is immediately accretive to asset value.

Renewal of the PSA, which will push expiration out a further 10 years, until 2041, thereby facilitating the commercial rationale for additional CAPEX to unlock the 2C and the 3P resource base. 

Unlocking these commercial triggers will allow the Joint Venture to extend and increase the current production plateau of 82.5-90 MMscfd with confidence, as well as access, unlock and convert the existing material prospective resource base to 2P reserves. Discussions are ongoing between the Joint Venture and various Tanzanian stakeholders to secure fair and equable agreement on these issues.

Exploration Activity

Wentworth has undertaken a detailed review of the exploration potential of the greater Mnazi Bay area and as such has identified a material prospect and lead inventory.  Seven of the highest potential leads were evaluated by RPS Canada as part of the reserves and resources evaluation, which ascribed P full block gross prospective resources at greater than 1.5 Tcf.  Wentworth is currently working with the operator to determine how to best de-risk the running room portfolio and developing a strategic plan towards converting these resources to future 2C and 2P reserves.

Mozambique: Tembo Block Appraisal Licence

The Tembo Block Appraisal Licence (“Tembo”), which has an area of approximately 2,500 km is located in north-eastern Mozambique, approximately 1,800 km north of Maputo and 100 km southwest of the Mnazi Bay field in the onshore Rovuma Basin.  The block is operated by Wentworth Resources (85%) with Empresa Nacional de Hidrocarbonetos (“ENH”; 15%) as a carried partner.

In 2014, the Tembo-1 exploration well was drilled to the Cretaceous where it encountered strong gas shows, logged a hydrocarbon pay interval section, and was declared a technical discovery.  In June 2016, the Instituto Nacional de Petroleo (“INP”) granted approval for an appraisal plan for the Tembo-1 gas discovery, with a two-year appraisal period.  During the first two-year appraisal period Wentworth reprocessed c. 1,000 km of 2D seismic data and conducted pre-drill activities including well planning and design and scouting of the proposed wellsite location. In addition, from late Q4 2017 the Company reached out to the market to secure a partner to farm-in for the proposed Tembo-2 appraisal well. In June 2018, partly due to above ground security issues and an inability to secure a risk-sharing partner, a further one-year extension was granted, extending the licence until 15 June 2019 with no additional work commitments or exit penalties.

Activity & Outlook

In Q3 2018, Wentworth commenced a detailed re-evaluation of the Tembo discovery, creating an updated basin model which integrated in-house analysis of the Tembo-1 discovery, including re-interpretation of all the existing block and regional 2D seismic data, reservoir & rock properties, in-place and recoverable volumes, reservoir flow rates, deliverability and well-based economics.  This in-house study, which was concluded after the RPS CPR evaluation was finalized, suggests that the primary “Q sand” package as mapped on the reprocessed 2D seismic likely has in-place Pmean gross volumes of c.87 Bscf with recoverable volumes of c.61 Bscf. 

Set out below are management estimates of Prospective Resources Assessment for the Tembo prospect.

| Oil and Gas - Prospective Resources
Tembo Appraisal Area, Mozambique |
|   | Gross | Net Attributable | Risk Factor | Operator |
| Proved | Proved + Probable | Proved + Probable + Possible | Proved | Proved + Probable | Proved + Probable + Possible |
| Oil & Liquids Reserves | MMstb | MMstb | MMstb | MMstb | MMstb | MMstb |   |   |
|   | - | - | - | - | - | - |   |   |
| Total for Oil and Liquids | - | - | - | - | - | - |   |   |
|   |   |   |   |   |   |   |   |   |
| Gas Reserves | Bscf | Bscf | Bscf | Bscf | Bscf | Bscf |   |   |
| Tembo Q Sand Prospect, Base of Slope Fan | 10 | 61 | 151 | 9 | 52 | 128 | 42.1% | Wentworth |
| Total for Gas | 10 | 61 | 151 | 9 | 52 | 128 |   |   |

Management internal estimates

“Gross” are 100% of resources attributable to the asset

“Net Attributable” are the net resources volumes attributable to Wentworth

“Risk Factor” is the Geological Probability of Success and does not include any evaluation of the commerciality of the resources.

The downward volumetric revisions have predominantly been driven by a decrease in the interpreted reservoir storage properties and a more restricted sand fairway system.  The Company is of the view that a gas discovery of this size with sub-commercial flow rates is highly likely to be stranded given the lack of adjacent infrastructure.

As part of the Company’s Transition and Redomicile process, RPS Canada was required to conduct a CPR of the Tembo discovery. This evaluation which commenced in May 2018, was undertaken incorporating a legacy subsurface model, prior the above in-house evaluation.

RPS Canada, has determined, based on the prior Wentworth work that the Tembo prospect has Best estimate P gross risked prospective resources of 262 Bscf, with a 30% chance of expected Commercial success, further noting “there is a wide range of uncertainty in the estimated volume”.  This CPR report is available on the Company’s website as of today.

The updated in-house assessment of Tembo, coupled with the lack of a risk-sharing partner and above ground concerns, all point to further appraisal well activities not being commercially supported by the Company.

Wentworth continues to evaluate remaining Cretaceous and Tertiary potential in the greater onshore Rovuma Basin as part of its evaluation activities in Mozambique, where it has a significant in-house data set, established regional expertise, operational capabilities, and importantly substantive relationships with ENH and INP, in what is a rapidly developing LNG (and domestic gas) region of Mozambique.

Eskil Jersing, CEO, commented: "Since my arrival in late June, we have undertaken a thorough technical review of the company’s asset portfolio. I am excited by the potential of Wentworth’s principal Mnazi Bay asset in Tanzania, and believe our focus is to work closely with the operator and key stakeholders in country to progress a value-led technical and operational strategy that extracts as much of the field’s undoubted potential as possible in a commercially attractive manner. Our work to better understand commercially realizable opportunities available in Mozambique continues unabated.

As a result of our having the corporate team in London working very closely with our Dar es Salaam team and asset partners, I believe we are now better placed to both drive the business operationally and communicate with our market, especially investors and analysts. In addition, our being in the UK will also enable us to access and execute on M&A led opportunities in order to secure accretionary value for the Company in this next phase of growth. I look forward to updating investors in due course.’

-Ends-

| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer | rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| Vigo | Investor Relations Adviser (UK)
Patrick d’Ancona
Chris McMahon
Kate Rogucheva | +44 (0) 20 7930 0230 |

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, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (“MAR”). On the publication of this announcement via a Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.

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, 2017, available on Wentworth’s website, for further description of the risks and uncertainties associated with Wentworth’s business.

These assessments are made in accordance with the standard defined in the SPE/WPC Petroleum Resources Management System (2007) and the Canadian Oil and Gas Evaluation Handbook (“COGEH”).

Cameron Snow, Head of Subsurface and Business Development, and an Exploration Geoscientist with over 12 years of experience across North America, South America, Africa, and Australia, has read and approved the technical disclosure in this regulatory announcement.  Mr. Snow holds a BS in Geology from North Carolina State University, a MS in Geology from Utah State University, a PhD in Geological and Environmental Science from Stanford University, and an MBA from Imperial College of London.  Mr. Snow is a member of the Society of Petroleum Engineers.

Glossary

| Bscf | Billion standard cubic feet |
| Contingent Resources | Quantities of petroleum estimated, as at a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies |
| MMscfd | Milion standard cubic feet per day |
| MMstb | Million stock tank barrels |
| MW | Mega Watt |
| Gross Reserves | Reserves volumes before deductions for royalty |
| Net Reserves | Reserves volumes after deduction of royalty |
| NPV | Net present value |
| 2C | Best estimate scenario of contingent resources |
| 1P | Proved Reserves, those quantities of petroleum, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under defined economic conditions, operating methods, and government regulations. |
| 2P | Proved + Probable Reserves, those additional Reserves which analysis of geoscience and engineering data indicate are less likely to be recovered than Proved Reserves but more certain to be recovered than Possible Reserves. It is equally likely that actual remaining quantities recovered will be greater than or less than the sum of the estimated Proved plus Probable Reserves |
| 3P | Proved + Probable + Possible Reserves, those additional reserves which analysis of geoscience and engineering data suggest are less likely to be recoverable than Probable Reserves. |
| Prospective Resources | Petroleum deposits that are estimated, on a given date, to be potentially recoverable from accumulations yet to be discovered |
| Reserves | Quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. |
| TCF | Trillion cubic feet |
| WI | Working interest attributable to Wentworth |

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.  

181003 Press Release Update


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181003.GlobeNewswire.HUG2219009

Wentworth Resources Limited : Publication of Competent Person’s Report

Press Release
3 October 2018

WENTWORTH RESOURCES LIMITED 
(“Wentworth” or the “Company”)

Publication of Competent Person’s Report

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, announces that, as part of the redomicile and AIM re-admission process, it commissioned an RPS Canada Competent Persons Report (“CPR”) evaluation of the Company’s reserves and resources. This CPR is available on the Company’s website as of today.

-Ends-

| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer | rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| Vigo | Investor Relations Adviser (UK)
Patrick d’Ancona
Chris McMahon
Kate Rogucheva | +44 (0) 20 7930 0230 |

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, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.

Inside Information

This announcement does not contain inside information.

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, 2017, 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.

 

181003 Press Release CPR


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181003.GlobeNewswire.HUG2219008

Mottatt søknad om strykning

Oslo Børs har mottatt søknad fra Wentworth Resources Limited om strykning av
selskapets aksjer fra notering på Oslo Børs.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=460663

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181004.OBI.20181004S7

Received application for delisting

Oslo Børs has received an application from Wentworth Resources Limited for
delisting of the company’s shares from Oslo Børs.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=460664

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20181004.OBI.20181004S8

Wentworth Resources Limited : Notification of Trade / Director Dealings

Wentworth Resources Limited

(“Wentworth” or the “Company”)

  

Notification of Trade / Director Dealings

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, was notified on the 5 October 2018 of the following transactions by a director of the Company:

On 4 October 2018 and 5 October 2018, Mr. Iain McLaren, Proposed Non-Executive Director of the Company, acquired 100,000 common shares of no par value in the Company (“Common Shares”) at a price of 23.23p per Common Share. Following the acquisition, Mr. McLaren has an interest in 100,000 Common Shares representing 0.05 percent of the Company’s issued share capital.

1.   Details of the person discharging managerial responsibilities/person closely associated

a)   Name: Iain Archibald McLaren

2.   Reason for the notification

a)   Position/status: Proposed Non-executive Director

b)   Initial notification/Amendment: Initial Notification

3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  

a)   Name: Wentworth Resources Limited

b)   LEI: 213800IW2LNKOYYG7412

4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)   Description of the financial instrument, type of instrument: Common shares of no par value in Wentworth Resources Limited
Identification code: ISIN CA9506771042

b)   Nature of the transaction: Purchase of Common shares of no par value in Wentworth Resources Limited

c)   Price(s) and volume(s)

| Price(s) | Volumes(s) | Date |
|  

23p |  

30,000 |  

4 October 2018 |
|  

23.4167p |  

40,000 |  

5 October 2018 |
|  

23.2222p |  

30,000 |  

5 October 2018 |

d)   Aggregated information

Aggregated volume: 100,000

Price: 23.23334p

e) Date of the transaction: 4 October 2018 and 5 October 2018

f) Place of the transaction: XLON

-Ends-

| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer | rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| Vigo | Investor Relations Adviser (UK)
Patrick d’Ancona
Chris McMahon
Kate Rogucheva

| +44 (0) 20 7830 9700 |

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

181008 Notification of Trade PDMR


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181008.GlobeNewswire.HUG2219549

Wentworth Resources Limited : Notification of Trade / Disclosure of Large Shareholding / Director Dealings

  Wentworth Resources Limited

Notification of Trade / Disclosure of Large Shareholding / Director Dealings

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, has been notified of the following transactions by a director of the Company:

Mr. Robert Phillip McBean, Executive Chairman of the Company, has acquired in total 389,430 Common shares of no par value in the Company (“Common Shares”) on the dates, with the volumes and at the prices further detailed in the below table (together the “Transactions”). The Transactions were carried out on the Oslo Stock Exchange.

Following the Transactions, Mr. McBean has an interest in 9,494,815 Common Shares and votes in the Company, representing 5.09 per cent of the Company’s issued share capital and votes. Mr. McBean’s ownership passed 5 per cent of the Company’s issued share capital and votes on 15 October 2018. In addition, Mr. McBean holds 1,900,000 share options in the Company per 16 October 2018.

1.   Details of the person discharging managerial responsibilities/ person closely associated

a)   Name: Robert Phillip McBean

2.   Reason for the notification

a)   Position/status: Executive Chairman
b)   Initial notification/Amendment: Initial Notification

3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  

a)   Name: Wentworth Resources Limited
b)   LEI: 213800IW2LNKOYYG7412

4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)   Description of the financial instrument, type of instrument: Common shares of no par value in Wentworth Resources Limited
Identification code: ISIN CA9506771042

b)   Nature of the transaction: Purchase of Common shares of no par value in Wentworth Resources Limited

c)   Price(s) and volume(s)

| Price(s) | Volumes(s) | Date |
|  

2.0582 NOK |  

174,665 |  

12 October 2018 |
|  

2.2392 NOK |  

91,567 |  

15 October 2018 |
|  

2.3488 NOK |  

123,198 |  

16 October 2018 |

d)   Aggregated information

Aggregated volume: 389,430

Price: 2.1927 NOK

e) Date of the transaction: 12 October 2018, 15 October and 16 October 2018

f) Place of the transaction: OSL

-Ends-

| Enquiries: 
Wentworth | Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer | rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| Vigo | Investor Relations Adviser (UK)
Patrick d’Ancona
Chris McMahon
Kate Rogucheva | +44 (0) 20 7830 9700 |

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

 

181016 Notice of Trade PDMR


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181016.GlobeNewswire.HUG2220834

Wentworth Resources Limited : Notification of Trade / Director Dealings

  
Wentworth Resources Limited

Notification of Trade / Director Dealings

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil & gas company, has been notified of the following transactions by a director of the Company:

Mr. Robert Phillip McBean, Executive Chairman of the Company, has acquired 110,570 Common shares of no par value in the Company (“Common Shares”) at a price of 2.3617 NOK per Common Share. Following the acquisition, Mr. McBean has an interest in 9,605,385 Common Shares representing 5.15 per cent of the Company’s issued share capital.  In addition, McBean holds 1,900,000 share options in the Company.

1. Details of the person discharging managerial responsibilities/ person closely associated

a)   Name: Robert Phillip McBean

2.   Reason for the notification

a)   Position/status: Executive Chairman

b)   Initial notification/Amendment: Initial Notification

3.   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  

a)   Name: Wentworth Resources Limited

b)   LEI: 213800IW2LNKOYYG7412

4.   Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)   Description of the financial instrument, type of instrument: Common shares of no par value in Wentworth Resources Limited

Identification code: ISIN CA9506771042

b)   Nature of the transaction: Purchase of Common shares of no par value in Wentworth Resources Limited

c)   Price(s) and volume(s)

| Price(s) | Volumes(s) | Date |
|  

2.3617 NOK |  

110,570 |  

17 October 2018 |

d)   Aggregated information

Aggregated volume: 110,570

Price: 2.3617 NOK

e) Date of the transaction: 17 October 2018

f) Place of the transaction: OSL

-Ends-

|

Enquiries: 
Wentworth |

Bob McBean,
Executive Chairman

 

Eskil Jersing,
Chief Executive Officer

 

Katherine Roe,
Chief Financial Officer |

rpm@wentworthresources.com

eskil.jersing@wentworthresources.com
+44 7717 847623

 

katherine.roe@wentworthresources.com
+44 7841 087 230 |
|   |   |   |
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK)
Callum Stewart
Ashton Clanfield | +44 (0) 20 7710 7600 |
|   |   |   |
| Peel Hunt LLP | Broker (UK)
Richard Crichton
Ross Allister

  | +44 (0) 20 7418 8900 |
| Vigo | Investor Relations Adviser (UK)
Patrick d’Ancona
Chris McMahon
Kate Rogucheva | +44 (0) 20 7830 9700 |

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

181018 Notice of Trade PDMR


This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wentworth Resources Limited via Globenewswire

Nyheten er levert av GlobeNewswire.

http://www.netfonds.no/quotes/release.php?id=20181018.GlobeNewswire.HUG2221162