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Wentworth Energy Closes on Acquisition of Major Utah Oil Sands Project.


FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities.  -- Wentworth Energy, Inc. (PINK SHEETS:WNWG) announced today that the Company has closed on its acquisition of a large oil sands project in Utah's Unita Basin. Wentworth Energy has acquired 1592-acre lease known as the Asphalt Tar Sands Tar sands is a common name of what are more properly called bituminous sands, but also commonly referred to as oil sands or (in Venezuela) extra-heavy oil. They are a mixture of sand or clay, water, and extremely heavy crude oil.  project, for 1,000,000 shares of the Company's common stock and a 12 percent royalty on the net proceeds Net Proceeds

The amount received after all costs are deducted from the sale of a piece of property or security.

Notes:
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions).
 from the property.

The Asphalt Ridge Tar Sands are located in the north-northeast flank of the Unita Basin, about 3.5 miles southwest of the town of Vernal, Utah For the Vernal point, see .
"Vernal" is an adjective meaning "of or pertaining to spring."


Vernal is a city in Uintah County, Utah, United States. The population was 7,714 at the 2000 census.and by 2004 had been estimated at 7,939.
. According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 historic geological reports the company believes that total recoverable oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints.

Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally
 on the project could be over 100 million barrels of oil.

John Punzo, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Wentworth Energy states, "The acquisition of the Asphalt Tar Sands project has the potential to become Wentworth Energy's legacy asset, defining us as a Company and forming the cornerstone from which we can build shareholder value. The Company's oil sands team is also confident that when the new technologies we are reviewing are validated, we could begin oil production on the leases in the very near future."

Jim Whiteside, President of Oil Sands Development at Wentworth Energy, commented, "The land position we have acquired is located in the heart of Utah's rich oil sands region. The opportunity for Wentworth is to combine this strong asset with the new recovery methods that have been developed over the past several years. Our plans are to work closely with the Utah government to ensure that not only is the oil extracted using the most efficient and cost effective technologies, but that preservation of the environment is also our top priority."

"The Asphalt Ridge Tar Sands Project is located within the largest bituminous bi·tu·mi·nous  
adj.
1. Like or containing bitumen.

2. Of or relating to bituminous coal.

Adj. 1. bituminous - resembling or containing bitumen; "bituminous coal"
 sandstone deposit in the Unita Basin," Whiteside noted. "The oil-saturated sands are in the Mesa Verde Group and the Duchesne River Formation and have been identified at varying depths from the surface to 250 feet. This means that the oil can be recovered using open-pit mining techniques, which is a very cost effective method."

"During the past five years there have been at least six new extraction technologies developed which are showing great promise. They all operate on a smaller scale, are more environmentally friendly, and are less capital intensive than the conventional oil sands plants being employed in the Athabasca oil sands The Athabasca Oil Sands are a large deposit of oil-rich bitumen located in northern Alberta, Canada. These oil sands consist of a mixture of crude bitumen (a semi-solid form of crude oil), silica sand, clay minerals, and water.  of Northern Alberta. In the past, the cost of producing oil from bituminous sands in these smaller deposits has been prohibitive, however, with the development of new extraction methods the projected recovery costs have been reduced to a level at which oil from bituminous sands can compete with oil from conventional sources," Mr. Whiteside said.

About Wentworth Energy, Inc.

Located in Forth Worth, Texas, Wentworth Energy, Inc. is a diversified energy company focused on the responsible development of America's natural resources while providing maximum shareholder value. Wentworth Energy will apply innovative technologies towards the discovery and development of a diverse portfolio of high value, low risk energy projects such as the Company's opportunities in the Texas Barnett Shale gas play, the prolific oil and gas fields of the Gulf Coast, and the oil sands of eastern Utah. Wentworth Energy trades under the ticker symbol Ticker Symbol

An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors
 WNWG. For more information on the Company visit www.wentworthenergy.com

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995.

Wentworth Energy, Inc. (PINK SHEETS:WNWG)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 25, 2005
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