New World Oil And Gas Regulatory News (NEW)

New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas

15 November 2012

New World Oil and Gas Plc ('New World' or the 'Company')

Drilling Update, Belize

Further to the announcement dated 8 November 2012, New World Oil and Gas Plc, the oil and gas exploration and development company focused on Belize and Denmark, announces that as of 02.30 CST in Belize on 14 November 2012, the Blue Creek #2 well ('the Well') had drilled to a depth of 9,282ft. Total depth ('TD') is expected to be reached by 18 November 2012 or sooner. This follows the extension of the TD to 10,450ft.

The Well is drilling on the B Crest prospect on its flagship Blue Creek Project ('Blue Creek' or 'the Project'), located in the productive Petén Basin in Northwest Belize. The drilling programme is on budget and in line with the Company's geologic prognosis. A further update will be made when the TD of 10,450ft is reached.

The technical content of this announcement has been reviewed and approved by William Kelleher who has been a member of the Society of Petroleum Engineers for 27 years.

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For further information please visit www.nwoilgas.com or contact:

Notes

New World Oil and Gas Plc is an oil and gas operating company with three highly prospective projects in Belize and Denmark. New World is operator of all three projects where a systematic programme of seismic acquisition has resulted in multiple prospects being identified and derisked, a number of which have been classified by the Competent Person as being drill ready. Blue Creek in Belize is the Company's most advanced project where drilling has commenced at B Crest, a prospect with un-risked P50 prospective resources of 92MMbo and a POSg of 1 in 5 as confirmed by a Competent Person. New World also operates two projects in onshore Denmark located in producing basins covering a combined area of over 2.6 million acres, making it the largest holder of acreage in Denmark.

Management is constantly evaluating additional projects that would complement the Company's growing portfolio, particularly late stage exploration or early production projects located in basins with large proven reserves that, in the opinion of the Directors, are undervalued, underdeveloped or under-performing. As a result, the Board is actively identifying exploitation opportunities in areas including Africa, South America and South East Asia as it looks to build a leading, diversified oil and gas company.