Wentworth Resources Plc

Corporate and Operational Update - Seite 2

Pursuant to a 2009 farm-out agreement entered into between Artumas Group Inc ("Artumas"), Cove Energy Tanzania Mnazi Bay Limited ("Cove Energy") and Les Establishments Maurel et Prom ("Maurel et Prom"), the 2012 Ziwani-1 well and associated 3D seismic costs were paid by Maurel et Prom and Cove Energy as part consideration for their entry into the Mnazi Bay asset, thereby fully carrying Artumas (the "Wentworth Carry"). The net Wentworth Carry is $8.4 million.

Pursuant to the Joint Operating and Farm-Out Agreements, the Wentworth Carry is recovered by Maurel et Prom, post operating, but prior all exploration and development expenditures from cost gas sales. Wentworth expect Maurel et Prom to fully recover the Ziwani-1 well and associated seismic costs from their adjusted allocation of the TPDC receivable over the next nine months. The Company notes that ongoing operating costs continue to be recovered in preference to all other costs, minimally offsetting the impact of the prioritised recovery of the Wentworth Carry.

Eskil Jersing, Chief Executive Officer, commented:

'I am delighted that the Oslo Stock Exchange has approved our delisting application, with no restrictions. We are highly appreciative of the support of our Norwegian investors through this period of transition and hope that will continue through this next phase of growth for Wentworth.

The scheduled repairs and maintenance on Mnazi Bay and associated infrastructure, were completed on time and production levels are expected to return to around 90 MMscf/d in the second half of November. The Joint Venture partners continue to work with all stakeholders on the four key value catalysts, referred to in the 3 October 2018 RNS, to ensure that all parties derive maximum value from the Mnazi Bay Field.

Our Mnazi Bay asset continues to outperform in a surging, demand led landscape and the Company has made great strides in moving to a simpler Corporate platform through 2018. We look forward to updating investors on our continued progress in due course.'

-Ends-

Enquiries:  Wentworth

Bob McBean, Executive Chairman   Eskil Jersing, Chief Executive Officer   Katherine Roe, Chief Financial Officer

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