Wentworth Resources Limited : Update on Tembo-1 Drilling Operations
(Thomson Reuters ONE) -
PRESS RELEASE
30 October 2014
Wentworth Resources Limited
("Wentworth" or the "Company")
Update on Tembo-1 Drilling Operations
Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil & gas company, announces an update of
exploration drilling operations in the Rovuma Onshore Concession in northern
Mozambique.
Further to previous shareholder communications on June 20, 2014 and August
19, 2014, the Tembo-1 exploration well has reached a depth of approximately
2,965 meters in Cretaceous age rocks. The well is programmed to be drilled to
the Jurassic at a total depth of 4,397 meters (4,250 meters True Vertical Depth
Sub Sea). Drilling operations are expected to continue through the month of
November. It is important to note that, as this is a frontier well, it is
difficult to predict how long drilling operations will take. We remain a tight
hole on Tembo-1 and still plan to announce results once drilling operations have
been fully completed.
Following completion of drilling the Tembo-1 exploration well, the drilling rig
will be mobilized to the northern section of the Onshore Rovuma Block and
commence drilling a second exploration well, Kifaru-1.
-Ends-
Enquiries:
Wentworth Geoffrey Bury, gpb(at)wentworthresources.com
Managing Director +1 403 993 4450
Lance Mierendorf, lance.mierendorf(at)wentworthresources.com
Chief Financial +1 403 680 8773
Officer katherine.roe(at)wentworthresources.com
Katherine Roe, +44 7841 087 230
Head of Investor
Relations &
Corporate
Communications
Swedbank First Broker(Norway) +47 23 23 80 00
Securities
Ove Gusevik
Jarand Lønne
Crux Kommunikasjon Investor Relations
Adviser
(Norway)
Jan Petter Stiff +47 99 51 38 91
Carl Christian +47 90 98 08 48
Bachke
Panmure Gordon AIM Nominated +44 (0) 20 7886 2500
Adviser and Broker
(UK)
Dominic Morley
Adam James
Tom Salvesen
Duncan Monteith
FirstEnergy Broker (UK) +44 (0) 20 7448 0200
Capital
Majid Shafiq
Travis Inlow
Investec Broker (UK) +44 (0) 20 7597 4000
Chris Sim
Instinctif Investor Relations +44 (0) 20 7457 2020
Partners Adviser (UK)
Catherine Wickman
Harry Cameron
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 13.64% participation interest in exploration operations and an
11.59% participation interest in development and production operations of the
Rovuma Onshore Concession in Mozambique. Anadarko Petroleum Corporation is
operator.
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
Management's Discussion and Analysis for the year ended December 31, 2013,
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.
2014 10 30 Press Release:
http://hugin.info/136496/R/1867005/655952.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1867005]
Unternehmensinformation / Kurzprofil:
Datum: 30.10.2014 - 08:01 Uhr
Sprache: Deutsch
News-ID 348230
Anzahl Zeichen: 8432
contact information:
Town:
Calgary, Alberta
Kategorie:
Business News
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