PRESS
RELEASE
15 January 2018
WENTWORTH
RESOURCES LIMITED
("Wentworth" or the "Company")
Appointment of
CEO
Wentworth, the Oslo Stock Exchange
(OSE: WRL) and AIM (AIM: WRL) listed independent, East
Africa-focused oil & gas company, is pleased to announce that
Mr Eskil Jersing has agreed to join Wentworth as Chief Executive
Officer ("CEO"). We anticipate that Eskil will join the Company and
Board of Directors in Q2 2018 as he undertakes an orderly
transition from his current position as CEO of Sterling Energy.
Eskil's career to date spans over
30 years working across the spectrum of exploration, appraisal,
production and development projects in many of the world's key
Petroleum basins (North Sea, Gulf of Mexico, Brazil, Africa, SE
Asia and Australasia). Throughout his career, Eskil has led
multidisciplinary integrated teams, executed new country entries,
secured major leasehold positions, in addition to discovering and
monetising a number of oil and gas accumulations. Eskil is
currently CEO of Sterling Energy plc, a UK based independent oil
and gas exploration company focused primarily on Africa and the
Middle East.
Eskil started his career in 1985
as a Field Seismologist with SSL, before moving to Enterprise Oil
and, following their takeover, Shell International, ultimately as
the Gulf of Mexico Exploration Strategy and Planning Manager. In
2009 he joined Marathon Oil as the Company's Manager for
Conventional New Ventures Worldwide and subsequently Apache
Corporation as Director Worldwide Exploration and New Ventures Asia
Pacific. He was Head of New Ventures and Co-Head of Mergers &
Acquisitions at Petrobras Oil & Gas BV before starting at his
current role. Eskil holds a BSc in Geophysics from Cardiff
University and an MSc in Petroleum Geology from Imperial College,
London.
Bob McBean,
Executive Chairman, said:
"I am looking forward to welcoming
Eskil to the management team and the Board of Wentworth. He will be
taking the reins of the business at a very exciting time for us; we
have an established and growing production base in Tanzania and an
operated near term high impact appraisal and exploration asset in
Mozambique. As indicated in November 2017, with the planned
relocation of management to London, this is the right time for us
to welcome a new, dynamic executive to the Company who has a wealth
of relevant geological and industry experience, to take the
business to the next stage in our development."
-Ends-
Enquiries: |
|
|
Wentworth |
Bob
McBean
Executive Chairman |
rpm@wentworthresources.com
|
|
|
|
|
Katherine
Roe
Vice President Corporate Development & Investor Relations |
katherine.roe@wentworthresources.com
+44 7841 087 230 |
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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
|
|
Peel Hunt LLP
|
Broker (UK)
Richard Crichton
Ross Allister
Chris Burrows
|
+44 (0)
20 7418 8900
|
FTI Consulting |
Investor Relations Adviser (UK) |
wentworth@fticonsulting.com
+44 (0) 20 3727 1000 |
|
Edward
Westropp
Kim Camilleri |
|
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.
Inside
Information
The information contained within
this announcement is deemed by Wentworth to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
no. 596/2014 ("MAR"). On the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain
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 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 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.
180115 Press Release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wentworth Resources Limited via Globenewswire
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