Wentworth Resources Limited : Gerold Fong Joins Wentworth to Lead Exploration
(Thomson Reuters ONE) -
PRESS RELEASE
4 FEBRUARY 2013
WENTWORTH RESOURCES LIMITED
("Wentworth" or the "Company")
GEROLD FONG JOINS WENTWORTH TO LEAD EXPLORATION
Wentworth, the East Africa and Rovuma Basin-focussed oil & gas company,
announces the appointment of Gerold Fong as Vice President Exploration. Mr.
Fong will lead the Company's geology and geophysics ("G&G") reviews, analyses,
and interpretations.
Mr. Fong is an Exploration Geophysicist with over 30 years of international and
frontier experience in many basins worldwide. Most recently Mr. Fong was Vice
President Caribbean region for Niko Resources where he directed a multi-
disciplinary team responsible for all of the company's operations in Trinidad.
As a co-founder and CEO of Voyager Energy, Mr.Fong was responsible for
assembling an impressive exploration portfolio in Trinidad. This success led to
the eventual sale of Voyager to Niko Resources in 2010. His regional
exploration experience spans the globe and he has been involved in the
evaluation and management of projects in the Caribbean, South America, Southeast
Asia and Africa. In Africa he has previous experience in the evaluation of
projects in Tanzania, Kenya and Mozambique.
Mr. Fong started his career in 1982 and throughout his career has held technical
and management positions with a number of large and mid size international
exploration companies. Mr. Fong has also served as an International Exploration
consultant and has advised many independent Canadian oil and gas companies on
their international exploration strategy. Mr. Fong holds a B.sc. in Geophysics
from the University of Calgary and is a member of the Association of
Professional Engineers and Geoscientist of Alberta.
He will represent Wentworth at concession operating and technical committee
meetings as well as provide operating and technical support during exploration
and development drilling. Mr Fong will help develop and implement the Company's
overall upstream growth strategy and will report directly to Managing Director,
Geoff Bury.
This appointment comes in response to:
* the need for development drilling of the Mnazi Bay and Msimbati Gas Fields
in Tanzania;
* the need for accelerated exploration of the entire Mnazi Bay concession in
order to address future local and regional demand for natural gas;
* increased G&G and drilling programmes recently approved for the Onshore
Rovuma concession in Mozambique; and
* M&A and other corporate transaction opportunities the Company reviews on a
regular basis.
Commenting on the appointment, Geoff Bury, Managing Director said: "We are
delighted to welcome Gerold to our management team as he brings extensive
international and East Africa-specific upstream expertise and more than 30 years
of industry experience to the Company. Gerold is a successful explorationist and
leader, and this combination will serve us well. Under Gerold's guidance we will
realise the potential of our Rovuma Basin portfolio and we will deliver on our
commitment to maximize gas production and discover additional hydrocarbon
resources for future production."
ENDS
Enquiries:
Wentworth Geoff Bury, Managing Director gpb(at)wentworthresources.com
Eric Fore, Finance, Investor & etf(at)wentworthresources.com
Public Relations Manager +971 (0) 50 458 0422
Panmure Gordon Nominated adviser & broker +44 (0) 20 7459 3600
Katherine Roe
Charlie Leigh-Pemberton
FirstEnergy Broker +44 (0) 20 7448 0200
Capital
Majid Shafiq
Travis Inlow
College Hill Investment relations adviser +44 (0) 20 7457 2020
Rupert Trefgarne
Catherine Wickman
Alexandra Roper
Crux Kommunikasjon Investment relations adviser +47 (0) 909 808 48
Carl Christian Bachke
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.
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, 2011,
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.
2013 02 04 Press Release:
http://hugin.info/136496/R/1675132/545611.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wentworth Resources Limited via Thomson Reuters ONE
[HUG#1675132]
Unternehmensinformation / Kurzprofil:
Datum: 04.02.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 225697
Anzahl Zeichen: 9237
contact information:
Town:
Calgary, Alberta
Kategorie:
Business News
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