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2016-01-13

Wentworth Resources Limited : Mnazi Bay Operational Update

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PRESS RELEASE

13 January 2016

WENTWORTH RESOURCES LIMITED
("Wentworth" or "the Company")

Mnazi Bay Operational Update

Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil&gas company, is pleased to provide an
operational update on its producing gas assets in Mnazi Bay, Tanzania.

Further to the Company's announcement on 4 November 2015 that gas deliveries
to the new transnational pipeline had commenced and production volumes were
ramping up, Wentworth reports that Q4 2015 gross gas production into the
pipeline and directly to a power plant in Mtwara averaged 46 MMscf/d, with
production averaging 55 MMscf/d during the month of December 2015. To date,
growing gas demand from the power sector has been impacted by delays
experienced in commissioning the new Kinyerezi power plant and the conversion
of the Ubungo power plant from diesel to gas. These delays are considered to
be short term in nature and all of the power generation facilities that will
utilize Mnazi Bay gas in the generation of electricity are expected to become
fully operational during Q1 2016. As a result, production volumes into the
pipeline are now expected to reach between 70 and 80 MMscf/day during Q1 2016
and thereafter remain consistent throughout 2016, with the potential for a
further increase in volumes depending on demand. The existing Mnazi Bay gas
wells continued to perform in line with expectations and are anticipated to
be more than capable of meeting expected demand. As a result, no new
development wells are currently planned for 2016.

Payments by the buyer, Tanzania Petroleum Development Corporation ("TPDC"), to
the Joint Venture, for gas sales delivered to the new pipeline have been
consistently paid in accordance with the agreed terms. Under the Gas Sales
Agreement signed on 12 September 2014, the sale price has been set at US$3.00
per million BTU (approximately US$3.07 per thousand cubic feet, rising in
line with the US CPI industrial index) commencing in 2016.

The Company ended 2015 with cash of approximately $2.7 million and debt of $26
million of which $7.4 million of principal and interest is due to be repaid
from internally generated cash flow during H2 2016.

Although no firm exploration plans have been made in 2016, the Joint Venture
plans to align exploration activities in the Mnazi Bay concession with gas
demand growth within Tanzania. Management will look to provide an update to
shareholders as these plans progress.

Geoff Bury, Managing Director, commented:

"I am pleased that the commissioning of the pipeline and the gas offtake
facilities have all gone smoothly and that the Mnazi Bay wells have performed
as expected; the Joint Venture's position as the main feedstock for the new
gen-sets in Tanzania provides a unique position from which to benefit from
the growing demand for power. Moreover, the expectation of increasing
production without the need for additional capital expenditure will further
enhance our rapidly strengthening financial position. Wentworth is in the
unique position for a small E&P company to experience a growing cash balance
on the back of increasing gas production with no commodity price risk."

"The newly elected Government has demonstrated its commitment to the future
growth and development of Tanzania's power industry and
continues to work diligently to enable new and existing power plants to become
fully operational in the coming months."

-Ends-

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| Enquiries: |
| Geoffrey Bury, gpb@wentworthresources.com |
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| Managing Director +1 403 993 4450 |
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| Wentworth Lance Mierendorf, lance.mierendorf@wentworthresources.com |
| |
| Chief Financial Officer +1 403 680 8773 |
| Katherine Roe katherine.roe@wentworthresources.com |
| |
| 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 |
| |
| (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 |
| |
| +44 (0) 20 3727 1000 |
| Edward Westropp |
| |
| Tom Hufton |
| |
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About Wentworth Resources

Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent
oil&gas company with: natural gas production; midstream assets; a committed
exploration and appraisal drilling programme; and large-scale gas
monetisation opportunities, all in the Rovuma Delta Basin of coastal southern
Tanzania and northern Mozambique.

Wentworth holds a 31.94% participation interest in production operations and a
39.925% participation interest in exploration operations of the Mnazi Bay
Concession. M&P is operator and holds a 48.06% participation interest in
production operations and 60.075% participation interest in exploration
operations with Tanzania Petroleum Development Corporation ("TPDC") holding
the remaining 20% participation interest in production operations.

Gerold Fong, Vice President of Exploration (BSC Geophysics, 1982) who has 31
years of experience in the exploration and production industry, has read and
approved the technical disclosure in this regulatory announcement.

Cautionary note regarding forward-looking statements

This press release may contain certain forward-looking information. The words
"expect", "anticipate", believe", "estimate", "may", "will", "should",
"intend", "forecast", "plan", and similar expressions are used to identify
forward looking information.

The forward-looking statements contained in this press release are based on
management's beliefs, estimates and opinions on the date the statements are
made in light of management's experience, current conditions and expected
future development in the areas in which Wentworth is currently active and
other factors management believes are appropriate in the circumstances.
Wentworth undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless required by applicable law.

Readers are cautioned not to place undue reliance on forward-looking
information. By their nature, forward-looking statements are subject to
numerous assumptions, risks and uncertainties that contribute to the
possibility that the predicted outcome will not occur, including some of
which are beyond Wentworth's control. These assumptions and risks include,
but are not limited to: the risks associated with the oil and gas industry in
general such as operational risks in exploration, development and production,
delays or changes in plans with respect to exploration or development
projects or capital expenditures, the imprecision of resource and reserve
estimates, assumptions regarding the timing and costs relating to production
and development as well as the availability and price of labour and
equipment, volatility of and assumptions regarding commodity prices and
exchange rates, marketing and transportation risks, environmental risks,
competition, the ability to access sufficient capital from internal and
external sources and changes in applicable law. Additionally, there are
economic, political, social and other risks inherent in carrying on business
in Tanzania and Mozambique. There can be no assurance that forward-looking
statements will prove to be accurate as actual results and future events
could vary or differ materially from those anticipated in such statements.
See Wentworth's ...

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