Wentworth, the Oslo Stock Exchange (OSE: WRL) and AIM (AIM: WRL) listed
independent, East Africa-focused oil & gas company, today provides an update on the Kifaru-1 exploration well in the Rovuma Onshore Concession in northern Mozambique, further to the Company’s announcement on 15 January 2015 that drilling operations had begun.
The Kifaru-1 well was drilled to a final total depth of 3,100 meters in Eocene age rocks. The well encountered all targeted zones in the Miocene, Oligocene and Eocene formations but failed to find an economic reservoir and as a result the well has been plugged and abandoned.
With the drilling of Kifaru-1 to the final total depth, the consortium led by Anadarko has satisfied all of its drilling obligations under the terms of the Exploration and Production Concession Contract for the Onshore Rovuma Block in Northern Mozambique.
Geoff Bury, Managing Director, commented:
“Whilst the results from this well did not meet our expectations, we are working with Anadarko and our partners to evaluate all data collected to determine the next steps in the exploration phase of the onshore Rovuma
block.”
About Wentworth Resources
Wentworth Resources is a publicly traded (OSE:WRL, AIM:WRL), independent
oil & gas company with: natural gas production; midstream assets; a
committed exploration and appraisal drilling programme; and large-scale
gas monetisation opportunities, all in the Rovuma Delta Basin of coastal
southern Tanzania and northern Mozambique.
Wentworth holds a 13.64% participation interest in exploration
operations and an 11.59% participation interest in development and
production operations of the Rovuma Onshore Concession in Mozambique. Anadarko Petroleum Corporation is operator.
Gerold Fong, Vice President of Exploration (BSC Geophysics, 1982) who has 31 years of experience in the exploration and production industry,
has read and approved the technical disclosure in this regulatory
announcement.
Cautionary note regarding 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
FRENCH VERSION
Le Kifaru-1 puits a été foré à une profondeur totale finale de 3100 mètres dans les roches d’âge éocène. Le puits a des zonesciblées tout dans les formations de l’Éocène, Oligocène et du Miocène, mais impossible de trouver un réservoir économique etpar conséquent le puits a été branché et abandonné.
Geoff Bury, directeur général, a commenté :
“Alors que les résultats de ce puits ne satisfaisait pas nosattentes, nous travaillons avec Anadarko et nos partenaires àévaluer toutes les données recueillies afin de déterminer lesprochaines étapes dans la phase d’exploration de la terreRovuma
Sur les ressources de Wentworth
Ressources de Wentworth est un cotée (OSE:WRL, AIM : WRL),indépendant
Wentworth détient une participation 13,64 % dans l’exploration
Gerold Fong, vice-président de l’Exploration (BSC, géophysique,1982) qui a 31 ans d’expérience dans l’industrie de l’explorationet de production,
Mise en garde concernant les déclarations prospectives
Ce communiqué peut contenir certaines informationsprospectives. Les mots « s’attendre », « anticipent »,believe”,“estimer”,“peut”,“va”,“devrait”,“l’intention”,“prévisions”,“plan”et expressions similaires sont utilisées pour identifierl’information prospective.
Les déclarations prospectives contenues dans le présentcommuniqué de presse sont basées sur les croyances, lesestimations et les opinions de la direction sur la date, que lesdéclarations sont faites en tenant compte de la directionexpérience, les conditions actuelles et attendues dedéveloppement futur dans les domaines dans lesquelsWentworth est actuellement actif et autres facteurs de ladirection estime appropriés dans les circonstances. Wentworthn’assume aucune obligation de
