WENTW RES : Limited : Mozambique and Tanzania Oil & Gas Resources Republished

PRESS RELEASE

MOZAMBIQUE AND TANZANIA OIL & GAS RESOURCES REPUBLISHED

Wentworth Resources Limited ("Wentworth" or the "Company") is an  Oslo Stock Exchange and London Stock Exchange (AIM market) listed oil and gas exploration and production company (OSE: WRL / AIM: WRL.L).  Further to publishing of the Company's Q3 2013 Financial Statements and MD&A on November 29, 2013, at the request of RPS Energy, Calgary, Canada ("RPS"), Wentworth republishes a summary of the results of an independent technical evaluation of the Rovuma Onshore License in Mozambique and the Mnazi Bay Concession in Tanzania respectively, carried out by RPS with the effective date of 31 August 2013, to ensure complete and consistent presentation of the resource estimates.  There has been no change in the resource estimates from those published on 30 September 2013.

Certain key extracts from RPS' Competent Person's Report ("CPR") follow and the complete updated CPR is available for download on the Company's website at www.wentworthresources.com.

Summary

(1)  Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small.  The individual prospect GPoS estimates are included in the CPR and are shown in the tables below. 

Prospective Resources - Rovuma Onshore License, Mozambique

RPS has identified seven prospects on the Rovuma Onshore License. The tables below show RPS's estimates of prospective resources:

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

RPS considers that the prospects' hydrocarbons are more likely to be gas than oil.  However, there is some possibility that the Tembo prospect may contain oil (estimated by RPS to be about 30% - 40%).  In this case (which is called the "oil case") the consolidated prospect totals would be as shown in the following tables:

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

Partners in the Rovuma Onshore License are:
Anadarko:          42% (Operator) through exploration; 35.7% production
Wentworth:           13.64% through exploration; 11.59% production
Maurel et Prom:   32.6% through exploration; 27.71% production
PTTEP:                11.76% through exploration; 10% production
ENH:                     15% production

Contingent Resources - Mnazi Bay PSA, Tanzania

RPS estimates of contingent resources for the Mnazi Bay and Msimbati gas fields are shown in the following tables:

 (*) Totals determined probabilistically and do not sum arithmetically except the mean values.

 (*)  Totals determined probabilistically and do not sum arithmetically except the mean values.

Prospective Resources - Mnazi Bay PSA, Tanzania

On the Mnazi Bay license area, RPS has estimated the quantity of undiscovered gas resources that are likely to co-exist within six identified prospect locations.  The tables below show RPS's estimates of prospective resources:

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

(1) Stochastic aggregation assuming all prospects are successful.  The probability of this occurring is the product of the individual GPoS of all prospects and is extremely small. 

Partners in the Mnazi Bay PSA are:

Maurel et Prom:    60.075% (Operator) through exploration; 48.06% production
Wentworth:             39.925% through exploration; 31.94% production
TPDC:                     20% production

Notes and Glossary
* The terms 'Discovered and Undiscovered Oil or Gas Initially-in-Place' are used in accordance with the SPE Petroleum Resources Management System classification of 2007. Previously reported Contingent and Prospective Gas Initially-in-Place numbers are equivalent to the Discovered and Undiscovered GIIP classification.

This announcement and the Competent Person's Report have been prepared using the Standard of SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007.

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.

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, 2012, 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.

ENDS