Update on Proposed Acquisition

RNS Number : 6831Q

Wentworth Resources PLC

29 June 2022

 

  29 June 2022

WENTWORTH RESOURCES PLC
("Wentworth" or the "Company")

Update on Proposed Acquisition

Wentworth (AIM: WEN), the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc ("Scirocco") to acquire its 25% non-operated working interest in the Ruvuma Production Sharing Agreement ("Ruvuma Asset"), in Tanzania (the "Transaction").

Wentworth notes the announcement from Scirocco that the proposed Transaction received the requisite majority approval from shareholders at Scirocco's General Meeting, held today.

The Transaction remains subject to certain regulatory approvals plus the non-exercise or waiving of pre-emption rights by the other Ruvuma Asset JOA partners. Wentworth will continue to update the market accordingly.

Ends

Enquiries:  Wentworth Resources Katherine Roe, Chief Executive Officer   [e-mail] [phone]     Stifel Nicolaus Europe Limited   AIM Nominated Adviser and Joint Broker  Callum Stewart Ashton Clanfield Simon Mensley   [phone]   Peel Hunt LLP   Joint Broker  Richard Crichton Alexander Allen   [phone]   FTI Consulting   Communications Advisor  Sara Powell Ben Brewerton Ollie Mills  [e-mail] [phone] About Wentworth Resources Wentworth Resources plc (AIM: WEN) is a leading, domestic natural gas producer in Tanzania with a core producing asset at Mnazi Bay in the onshore Rovuma Basin in Southern Tanzania.

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.

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