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2016-05-12

Wentworth Resources Limited : Q1 2016 Financial Statements and MD&A

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PRESS RELEASE

12 May 2016

Wentworth Resources Limited

("Wentworth" or the "Company")

Q1 2016 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 ended 31 March 2016.

The following should be read in conjunction with the Q1 2016 Management
Discussion and Analysis and Financial Statements which are available on the
Company's updated website athttp://www.wentworthresources.com.

Q1 2016 HIGHLIGHTS

Financial

* Gas sales revenue of $3.21 million for the quarter, compared to $0.27
million in Q1 2015.
* Net loss for the quarter of $0.91 million, compared to a net loss of $2.72
million in Q1 2015.
* Exploration and development capital expenditures of $0.66 million compared
to $9.55 million during Q1 2015.
* Increase in cash and cash equivalents to $4.05 million at March 31, 2016
from $2.75 million on hand at December 31, 2015.
* March 31, 2016 working capital was $9.02 million compared to $11.98 million
at December 31, 2015.

Operational

Tanzania

* Achieved average gross daily gas production of 48 MMscf/d for the first
quarter and reached 65 MMscf/d on 31 March.
* Mnazi Bay wells are performing exceptionally well and are capable of
delivering volumes in excess of current production.
* Minimal capital expenditure on field development incurred in the first
quarter of 2016.

Mozambique

* Approval from the Ministry of Energy and Minerals ("MIREM") of the
Mozambique Government for a proposed appraisal programme for the Tembo-1
gas discovery, increasing Wentworth's participation interest in the Rovuma
Onshore Concession from 11.59 percent to 85 percent and appointing
Wentworth as operator is pending.

Geoff Bury, Managing Director, commented:

"The newly built and previously existing power generation facilities which
utilize the Company's natural gas have all been tested and fully commissioned
and refurbished where necessary. Over the coming months, production is
expected to stabilize between 70-80 MMscf/d and maintain this level for the
remainder of 2016. We continue to build cash reserves from internally
generated cash flows and strengthen our balance sheet while looking for
strategic opportunities to further enhance shareholder value."

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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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| Vice President Corporate Development&Investor Relations +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 |
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| Tom Hufton |
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Financial Statements

The following primary statements have been extracted from the Q1 2016
unaudited consolidated financial statements which are located on the
Company's website atwww.wentworthresources.com.

WENTWORTH RESOURCES LIMITED

Unaudited Condensed Consolidated Interim Statement of Financial Position

United States $000s, unless otherwise stated

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| March 31, December 31, |
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| 2016 2015 |
| ASSETS |
| Current assets |
| Cash and cash equivalents 4,054 2,746 |
| Trade and other receivables 4,962 3,253 |
| Prepayments, deposits and advances to partners 1,213 841 |
| Current portion of long-term receivables 16,368 18,190 |
| 26,597 25,030 |
| Non-current assets |
| Long-term receivables 19,126 18,897 |
| Exploration and evaluation assets 43,323 43,141 |
| Property, plant and equipment 94,536 95,168 |
| Deferred tax asset 33,922 34,341 |
| 190,907 191,547 |
| Total assets 217,504 216,577 |
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| LIABILITIES |
| Current liabilities |
| Trade and other payables 7,819 6,269 |
| Current portion of long-term loans 8,596 5,270 |
| Current portion of other liability 1,158 1,508 |
| 17,573 13,047 |
| Non-current liabilities |
| Long-term loans 17,205 20,512 |
| Other liability 1,972 1,634 |
| Decommissioning provision 1,020 973 |
| 20,197 23,119 |
| Equity |
| Share capital 411,493 411,493 |
| Equity reserve 25,911 25,683 |
| Accumulated deficit (257,670) (256,765) |
| 179,734 180,411 |
| Total liabilities and equity 217,504 216,577 |
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WENTWORTH RESOURCES LIMITED

Unaudited Condensed Consolidated Interim Statement of Comprehensive Loss

United States $000s, unless otherwise stated

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| Three months ended March 31, |
| 2016 2015 |
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| Total revenue 3,206 272 |
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| Operating expenses |
| Production and operating (897) (504) |
| General and administrative (1,512) (1,497) |
| Share based compensation (228) (306) |
| Depreciation and depletion (1,114) (106) |
| Loss from operating activities (545) (2,141) |
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| Finance income 1,285 1,307 |
| Finance costs (1,226) (1,882) |
| ...

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