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Wentworth Resources Limited : Wentworth Resources Limited : Q2 2013 Financial Statements and MD&A



Wentworth Resources Limited : Wentworth Resources Limited : Q2 2013 Financial
                             Statements and MD&A

                                                               August 22, 2013

                         Wentworth Resources Limited

                        ("Wentworth" or the "Company")

                    Q2 2013 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 second quarter  and six  months 
ended June 30, 2013.

The following  should be  read  in conjunction  with  the Q2  2013  Management 
Discussion and Analysis and  Financial Statements which  are available on  the 
Company's website at http://www.wentworthresources.com.

Q2 2013 HIGHLIGHTS

  * Secured a $10 million, long-term debt facility from Vitol Group ("Vitol"),
    a leading physical energy trading house and shareholder of Wentworth.   In 
    conjunction with  the  loan, Vitol  was  issued 5,000,000  share  purchase 
    warrants each  exercisable into  one common  share of  the Company  on  or 
    before December 31, 2015 at an exercise price of US$1.24 per share. 

  * Continued processing and  interpreting of newly  acquired seismic in  both 
    the Rovuma Onshore  Block in Mozambique  and the Mnazi  Bay Concession  in 
    Tanzania. 

  * Negotiations  of  a  gas  sales  agreement  ("GSA")  continued  with   the 
    Government of Tanzania to supply Mnazi  Bay Concession natural gas to  the 
    planned Mtwara to Dar es Salaam Pipeline which is expected to be completed
    at the end of 2014. 

  * Second quarter exploration capital expenditures of $0.62 million  compared 
    to $1.22 million during the same period in 2012. 

  * Revenues from continuing operations for  the quarter of $0.24 million,  up 
    by 33% from Q2 2012. 

  * Loss from operating activities for  the quarter of $2.49 million  compared 
    to a loss of $2.22 million during the same period in 2012. 

  * Cash and  cash equivalents  on hand  at  June 30,  2013 of  $4.51  million 
    compared to $9.35 million on hand at December 31, 2012. 

  * Working capital at June 30, 2013 of $8.69 million. 

Outlook

  * The Company's  immediate focus  continues  to be  on concluding  the  GSA, 
    initially to supply 80 mmcf/day of gas from the Mnazi Bay and Msimbati gas
    fields within our concession to the planned pipeline in Tanzania. 

  * A drilling rig has been contracted to drill two onshore exploration  wells 
    plus an optional third well in Mozambique commencing in Q2 2014.  Drilling
    program planning  has  commenced  including purchasing  long  lead  items, 
    obtaining environmental permits and preparing site locations. 

  * Commencing  in  September  2013  the  partners  have  agreed  to   acquire 
    approximately  320km  of  new  onshore  2D  seismic  over  the  Mnazi  Bay 
    Concession.  A seismic contractor has  been secured and the parameters  of 
    the acquisition program are being developed. 

  * Capital available to  the Company  is expected  to be  sufficient to  meet 
    currently approved  capital and  operational  budget commitments  into  Q4 
    2013.  Management  are  assessing  Wentworth's  funding  requirements  and 
    financing options for the next phase of development. 

Geoff Bury, Managing Director, commented:

"Securing a $10 million  debt facility with favorable  terms in June  provided 
Wentworth with the funds necessary to advance key initiatives which we  expect 
will have a significant impact on shareholder value.

In Tanzania, the  Government and  the Mnazi Bay  partners are  eager to  reach 
agreement on remaining issues and conclude  a gas sales agreement in the  near 
future. Ongoing G&G studies, including  interpretation of new offshore 3D  and 
onshore 2D seismic  data, will  help high-grade  existing prospects;  possibly 
identify new prospects; and support future development of our resources.  

In Mozambique, our  operator and  partner, Anadarko Petroleum,  has secured  a 
drilling rig  and the  partners are  finalizing well  locations for  two  firm 
exploration wells plus an optional third well in 2014.

As we enter this very busy  and important phase of Wentworth's development  we 
are assessing our funding requirements and considering financing options.   We 
look forward to updating shareholders on  all of these activities in the  near 
future."        

A supporting presentation is available  for download on the Company's  website 
at www.wentworthresources.com, which will also be presented at the  conference 
call with management at 08:00 MDT (Calgary) / 15:00 BST (London) / 16:00  CEST 
(Oslo). Please  refer to  the Company's  announcement of  16 August  2013  for 
further details.

Enquiries:

Wentworth          Lance   Mierendorf, lance.mierendorf@wentworthresources.com
                   CFO
                   Eric Fore, Finance, etf@wentworthresources.com
                   Investor &          +971 (0) 50 458 0422
                   Public    Relations 
                   Manager
Panmure Gordon     Nominated adviser & +44 (0) 20 7886 2500
                   broker
                   Callum Stewart
                   Adam James
                   Charlie
                   Leigh-Pemberton
FirstEnergy        Broker              +44 (0) 20 7448 0200
Capital
                   Majid Shafiq
                   Travis Inlow
College Hill       Investor  relations +44 (0) 20 7457 2020
                   adviser
                   Catherine Wickman
                   Alexandra Roper
Crux Kommunikasjon Investor  relations +47 995 138 91
                   adviser
                   Jan Petter Stiff
                   Fredrik Eeg

About Wentworth Resources
Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent oil &
gas company with:  natural gas production; midstream and downstream assets;  a 
committed exploration and  appraisal drilling programme;  and large-scale  gas 
monetisation programmes, all  in the  Rovuma Delta Basin  of coastal  southern 
Tanzania and northern Mozambique.

Gerold Fong, (BSC  Geophysics, 1982)  the company's competent  person, is  the 
Vice President of  exploration for the  company. Gerold Fong  has 31 years  of 
experience in the exploration and production industry.

                          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.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Q2 2013 Financial Statements
Q2 2013 MDA and Directors Report
2013 08 22 Press Release

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters 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 Thomson Reuters ONE
HUG#1724327
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