THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, JERSEY, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF WENTWORTH RESOURCES LIMITED IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
22 May 2017
Wentworth Resources Limited
Update on Admission of Placement Shares
Reference is made to the announcement on Thursday 18 May 2017, regarding the admission to trading on AIM and the Oslo Stock Exchange of the Placement Shares in connection with the Private Placement by Wentworth Resources Limited ("Wentworth" or the "Company"), the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed independent, East Africa-focused oil and gas company, as announced on Wednesday 17 May 2017. Further to this announcement, given that full settlement proceeds were not received by the Company until after market hours on Friday 19 May 2017, due to the timing of the international transfer of subscription monies, the admission to trading on AIM and the Oslo Stock Exchange will be further delayed.
It is expected that the Placement Shares will be admitted to trading on Tuesday 23 May 2017,on AIM and the Oslo Stock Exchange.
About Wentworth Resources
Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent oil & gas company with: natural gas production; exploration and appraisal opportunities; and large-scale gas monetisation initiatives, all in the Rovuma Delta Basin of coastal southern Tanzania and northern Mozambique.
| Enquiries: | ||
| Wentworth | Geoffrey Bury, Managing Director | gpb@wentworthresources.com +1 403 993 4450 |
| Lance Mierendorf, Chief Financial Officer | lance.mierendorf@wentworthresources.com +1 403 680 8773 | |
| Katherine Roe Vice President Corporate Development and Investor Relations | katherine.roe@wentworthresources.com +44 7841 087 230 | |
| Crux Advisers | Investor Relations Adviser (Norway) | +47 909 808 48 |
| Carl Bachke | ||
| Stifel Nicolaus Europe Limited | AIM Nominated Adviser and Broker (UK) | +44 (0) 20 7710 7600 |
| Callum Stewart | ||
| Ashton Clanfield | ||
| GMP FirstEnergy | Broker (UK) | +44 (0) 20 7448 0200 |
| Hugh Sanderson David van Erp | ||
| FTI Consulting | Investor Relations Adviser (UK) | +44 (0) 20 3727 1000 |
| Edward Westropp Kim Camilleri |
Cautionary note regarding forward-looking statements
This announcement 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 announcement 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, 2016, 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 announcement and neither accepts responsibility for the adequacy or accuracy of this announcement.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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