Wentworth Resources Limited : Q3 2017 Financial Statements and MD&A

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PRESS RELEASE

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4 November 2017

Wentworth Resources Limited

(Wentworth or the Company)

Q3 2017 Financial Statements and MD&A

Wentworth Resources Limited, the Oslo Stock Exchange (OSE: WRL) and London
Stock Exchange (AIM: WRL) listed independent, East Africa-focused oil&gas
company, today announces its results for the quarter and nine months ended 30
September 2017.

Financial

Gas sales revenue of $4.1 million for the quarter, compared to $2.15 million
in Q2 2017 and $2.38 million in Q3 2016. For the first nine months of 2017
revenue was $9.20 million compared to $9.02 million in 2016.

* Net profit of $0.7 million and net loss of ($0.95) million for the three
and nine month periods of 2017 respectively compared to losses of ($3.59)
million and ($4.67) million in 2016 respectively.
* Capital expenditures of $0.84 million and $2.14 million for the three and
nine month periods respectively compared to $0.97 million and $3.79 million
in 2016 respectively.
* Cash and cash equivalents on hand of $3.36 million at 30 September 2017
compared with $0.98 million on hand at 31 December 2016.
* Working capital of $13.48 million at 30 September 2017 compared to $9.08
million at 30 June 2017 and $4.96 million at 31 December 2016.
* At the date of the press release TPDC has initiated payment for the October
2017 gas sales invoice totalling $2.6 million cash net to Wentworth.

Operational

Tanzania

* The level of gas demand has stabilized during 2017 compared to 2016.
* The Mnazi Bay field achieved average gross daily gas production of 60
MMscf/d during Q3 2017 and 45 MMscf/d year to date 2017. Full year 2017
production forecast remains within Managements previously guided range of
between 40 and 50 MMscf/d.
* During the course of 2017 receivables increased but have stabilized at
between four and five months outstanding from the main purchaser of Mnazi
Bay gas. The Company continues to manage working capital with creditors to
match the settlement of obligations with the timing of payments for gas
sales.
* Cash payments of $5.18 million were received relating to gas sales
invoices, net to Wentworth, during Q3.

Mozambique

* Completed the analysis of the Tembo-1 well drilled in 2014 and the
reprocessing of existing 2-D vibroseis seismic data from the Rovuma Onshore
Block while continued mapping and interpretation of all existing data.
* Continued planning of the drilling activities for an appraisal of the
Tembo-1 gas discovery, including designing the appraisal well, selecting a
well location, obtaining necessary environmental permits and initiating
preliminary procurement activities.
* Continued the farm-out process to secure an industry partner to participate
in the appraisal programme in advance of drilling the appraisal well in
2018.

Geoff Bury, Managing Director, commented:

Q3 2017 was the strongest production performance in the Companys history
with gross gas sales averaging 60 MMscf/d, a level anticipated to be achieved
for the remainder of 2017. In the near term, the Company is in a dominant
position to take full advantage of increasing gas demand in Tanzania from the
electrical power generation and industrial demand and reduced gas volumes
supplied into the transnational pipeline by peers. There is near-term
incremental gas demand expected from the start of the commissioning of the
newly constructed, government owned, Kinyerezi-2 power station and
commencement of gas fired power generation at the Dangote Cement plant. The
combined gas demand is expected to initially require 10-12 MMscf/d of gas, at
the time of start-up in the next two to four months, increasing to
approximately 60 MMscf/d when these facilities become fully operational,
which is expected during the second half of 2018.

We have substantially advanced pre-drilling activities for the Tembo appraisal
well in our oil and gas concession in Mozambique with a plan to commence
drilling operations late in Q2 2018. The Company has completed the Tembo-2
well design and has commenced the procurement process for long lead items.
Furthermore, we have identified drilling rigs in the region capable of
drilling to the planned depth and are in the process of determining the civil
works necessary to prepare the well site location. In parallel, we are
actively seeking one or more industry partners to participate in the drilling
of this prospect and to-date have received positive interest. If successful,
it will provide significant running room within the block and should add
substantial value to the investment in Mozambique.

A conference call for investors, analysts and other interested parties will be
held this morning at 01.30 MST (Calgary) / 08.30 GMT (London) / 09.30 CET
(Oslo).