Wentworth Resources : Operational Update

Wentworth Resources (AIM: WEN), the independent, Tanzania-focused natural gas production company, is pleased to announce the following operational update.

Katherine Roe, CEO, commented: 'The safety and wellbeing of our employees continues to be our number one priority and we're pleased that Mnazi Bay has remained fully operational since the pandemic with no COVID-19 cases to date, a safe and healthy crew and no adverse impact on supply. Our annual production guidance range remains unchanged at 60 - 70 MMscf/d (gross).

We continue to operate a robust and resilient business due to stable production and reliable cash flows from our long-term fixed gas price contracts. We are especially proud of the strength of the business despite the challenging macroeconomic backdrop, which is reflected in our balance sheet, with zero debt and $17 million cash at the end of October. This has enabled us to return capital to shareholders totalling $4.2 million.

During 2020, a priority for myself and the wider team at Wentworth has been to ensure that our net impact on our communities and wider society in Tanzania is positive and that we have the appropriate disclosure in place to demonstrate how we are manging our core ESG risks. We have undertaken a strategic review of our ESG performance and look forward to sharing our inaugural report with you next year.

Our ambition is to grow our domestic gas business in Tanzania in a responsible way that enhances the lives of our domestic stakeholders whilst increasing returns for shareholders. We remain committed to being a long-term partner for Tanzania in the delivery of low-carbon, domestic energy supply growth that will underpin the socio-economic development of the country in the near and longer-term.'

Contact:

Katherine Roe

Tel: +44 (0) 7841 087 230

Email: katherine.roe@wentplc.com

About Wentworth Resources

Wentworth Resources plc (AIM-listed: WEN) is a leading, domestic natural gas producer in Tanzania with a core producing asset at Mnazi Bay in the onshore Rovuma Basin in Southern Tanzania.

The power demand base in-country is growing and with an ambitious universal energy access target set by the Government for 2030, Wentworth has a vital role to play in increasing access by ensuring a reliable, affordable and growing supply of natural gas into the local market.

In 2019, Wentworth launched its dividend policy and remains committed to responsible growth that maintains returns for shareholders.

Inside Information

The information contained within this announcement is deemed by Wentworth to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ('MAR'). On the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.