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2016-02-25

Wentworth Resources Limited : 2015 Full Year Results

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PRESS RELEASE

25 February 2016

Wentworth Resources Limited

("Wentworth" or the "Company")

2015 Full Year Results

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 audited financial results for the year ended 31
December 2015.

The following should be read in conjunction with the 2015 Management
Discussion and Analysis ("MD&A") and Consolidated Financial Statements which
are available on the Company's website athttp://www.wentworthresources.com.

An independent reserves assessment of the Company's Tanzanian gas assets has
also been completed and was released today. The full report is available on
the Company's website atwww.wentworthresources.com. The Annual Statement of
Reserves 2015 has been included in the 2015 MD&A.

2015 HIGHLIGHTS

Corporate

* Independent reserves evaluation attributed Wentworth's share of Proved +
Probable (2P) reserves in the Company's Tanzania gas fields valued at
US$179.2 million NPV (10%) after tax at December 31, 2015.
* Successful completion of a private placement on 1 July 2015 and issue of
15,412,269 new common shares for cash consideration of $0.50 (GBP0.315 or
NOK3.88) per share, for total gross proceeds of $7.64 million from new and
existing shareholders.
* Agreement reached on payment security terms between Mnazi Bay Concession
parties and the gas purchaser and first gas delivery to the new government
owned Mtwara to Dar es Salaam natural gas pipeline commenced on 20 August
2015.

Financial

* Gas sales revenue of $4.64 million, up 337% from 2014 due to the
commencement of gas sales to the new Mtwara to Dar es Salaam gas pipeline
during Q3 2015.
* Net income of $27.03 million, $0.17 per share (2014 - $15.28 million, $0.10
per share).
* As a consequence of commencing deliveries of commercial quantities of gas
under a long-term gas sales agreement and obtaining an independent reserve
report for the Company's share of gas reserves in Tanzania, the Company
recognized a non-cash deferred tax asset of $34.34 million during Q4 2015
and a non-cash impairment reversal of $23.81 million during 2014.
* Development and exploration capital expenditures of $11.84 million and
$9.38 million, respectively.
* Yearend cash and cash equivalents on hand of $2.75 million (2014 - $5.49
million).

Operational

Mnazi Bay Block, Tanzania

* First gas delivery to the new government owned Mtwara to Dar es Salaam
natural gas pipeline commenced on 20 August 2015.
* Average gross daily gas production of 46 MMscf/d during the fourth quarter
and 16 MMscf/d for 2015, with an expected increase up to 70-80 MMscf/d by
the end of Q1 2016 as gas turbines at existing and new power generation
facilities are commissioned and become fully operational.
* Continued construction of field infrastructure connecting the Mnazi Bay gas
assets to the government owned gas pipeline.
* Completed drilling of the MB-4 development well in the Mnazi Bay
Concession. MB-4 was drilled to a total depth of 2,788 meters penetrating
the Miocene gas reservoirs with net pay of 24 meters (Upper Mnazi Bay) and
43 meters (Lower Mnazi Bay) for a total net pay of 67 meters.

Rovuma Onshore Block, Mozambique

* Discussions continued with the Mozambican Government regarding the
assignment of the relinquishing parties' participation interest to the
remaining parties in the Concession, selection and appointment of an
operator of the Concession, determining the appraisal acreage for Tembo-1
gas discovery and agreeing to a multi-year appraisal plan.
* During the first quarter of 2015, the Kifaru-1 exploration well reached TD
3,100 meters in Eocene age rocks which contributed to our understanding of
the regional geology. The well encountered all targeted zones in the
Miocene, Oligocene and Eocene formations but failed to find an economic
reservoir and as a result the well was plugged and abandoned.

Geoff Bury, Managing Director, commented:

"2015 was a turning point year for our business; with gas from Mnazi Bay
flowing into the new pipeline and the start of meaningful revenue generation,
Wentworth exited 2015 in a strong financial position. The balance sheet will
strengthen throughout the coming year as gas deliveries climb to an
anticipated gross 70-80 MMscf/day by the end of Q1 2016.

"We have also announced an increase of 20% in 2P reserves in our Tanzanian
Concession, which is testament to the prospectivity of the Mnazi Bay acreage.
The Company will carefully consider growth opportunities through
acquisition, farm-in and/or asset purchase leveraging, from an enviable
positive cash flow position and seek to take advantage of the buyers' market
that is expected to remain for much of the coming year."

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| Enquiries: |
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| Wentworth Lance Mierendorf, lance.mierendorf@wentworthresources.com |
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| Chief Financial Officer +1 403 680 8773 |
| Katherine Roe katherine.roe@wentworthresources.com |
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| Head of Investor Relations&Corporate Communications +44 7841 087 230 |
| Swedbank First Securities Broker (Norway) +47 23 23 80 00 |
| Ove Gusevik |
| Jarand Lønne |
| Crux Advisers Investor Relations Adviser +47 909 808 48 |
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| (Norway) |
| Jan Petter Stiff |
| Carl Bachke |
| Stifel Nicolaus Europe Limited AIM Nominated Adviser and Broker (UK) +44 (0) 20 7710 7600 |
| Callum Stewart |
| Ashton Clanfield |
| FirstEnergy Capital Broker (UK) +44 (0) 20 7448 0200 |
| Hugh Sanderson |
| FTI Consulting Investor Relations Adviser (UK) wentworth@fticonsulting.com |
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| +44 (0) 20 3727 1000 |
| Edward Westropp |
| |
| Tom Hufton |
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Consolidated Financial Statements

The following primary statements have been extracted from the 2015
consolidated financial statements which are located on the Company's website
atwww.wentworthresources.com.

WENTWORTH RESOURCES LIMITED

Consolidated Statement of Financial Position

United States $000s, unless otherwise stated

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| December 31, December 31, |
| |
| 2015 2014 |
| ASSETS |
| Current assets |
| Cash and cash equivalents 2,746 5,487 |
| Trade and other receivables 3,253 2,613 |
| Prepayments, deposits and advances to partners 841 1,418 |
| Current portion of long-term receivables 18,190 14,530 |
| 25,030 24,048 |
| Non-current assets |
| Long-term receivables 18,897 19,472 |
| Exploration and evaluation assets 43,141 33,762 |
| Property, plant and equipment 95,168 85,035 |
| Deferred tax asset 34,341 - |
| 191,547 138,269 |
| Total assets 216,577 162,317 |
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| LIABILITIES |
| Current liabilities |
| Trade and other payables 6,269 7,343 |
| Current portion of long-term loans 5,270 - |
| Current portion of other liability 1,508 ...

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