New World Oil And Gas Regulatory News (NEW)

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

4 February 2015

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

Extension granted for the Danica Jutland and Resources Licences, Denmark

New World Oil and Gas Plc, an oil and gas operating company focused on Denmark and Belize, is pleased to announce that it has been granted a three week extension in work programme commitment deadlines for Licences 1/08, 1/09 and 2/09 ('the Licences') at its Danica Jutland and Danica Resources Projects in Denmark to 20 February 2015. The Company currently holds a 25% working interest in the Licences through its Danish subsidiaries. This extension will allow the licence holders to finalise their technical work and interpretation carried out in 2014.

As agreed with the North Sea Fund ('NSF'), the Company's 20% full-paying partner, and the Danish Energy Agency ('DEA'), New World carried out additional technical work in the form of a Vaportec style geochemical survey during the summer of 2014, with the deployment and collection of a total of 626 samples. Additionally 678.8 km of 2-D seismic lines were re-processed. The Company is currently analysing the results of these activities, and updated findings will be submitted to both the NSF and DEA and the results will be released to the market as soon as they become available.

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