New World Oil And Gas Regulatory News (NEW)

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

22 November 2011

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

Update from Blue Creek Project in Belize

New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, announces an update from the 420 sq km Blue Creek Project located in the productive Petén Basin in Northwest Belize ('Blue Creek' or 'the Project').

Overview

·; Successful completion of Phase 2 of seismic acquisition at Blue Creek - 70.95 line kilometres acquired bringing the total for Phases 1 and 2 to 139.15km

·; Field and processed data to be interpreted shortly by the Company's geophysicist and Competent Person's Report ('CPR') to be updated by mid December 2011

·; Updated CPR expected to include P10, P50, P90 mean volumetrics, scoping economics and an estimated market value for Blue Creek

·; Phase 3 seismic acquisition planned to commence immediately - expected completion in Q1 2012

New World CEO William Kelleher said, "We continue to make excellent progress at our Blue Creek Project since its acquisition in June of this year. The completion of the second phase of our seismic acquisition programme is another significant milestone for New World as we progress towards anticipated phase three completion in Q1 2012.

"Following the positive results from the first of three planned phases of our seismic programme, the updated CPR specifically highlighted four structures similar to those found in the nearby producing Spanish Lookout field in the productive and highly prospective Petén Basin. Following the completion of the Phase 2 seismic, a second update to the CPR will be completed which we expect to include the first official estimates of in-place and recoverable oil volumes. We expect this update to be released by the middle of December 2011 and look forward to updating shareholders on our progress then."

Further Information

In total, 70.95 line kilometres were acquired during the second phase of seismic at the 420sq km Blue Creek Project located in the Petén Basin in Northwest Belize, bringing the total for phases 1 and 2 to 139.95 km. Excel Geophysical Services, of Denver, Colorado, is currently in possession of all the field and processed data which will shortly be interpreted by the Company's geophysicist. Once this has been completed the Company's competent person, RPS Energy, will analyse the data and provide an updated CPR which is expected to include P10, P50, P90 mean volumetrics, scoping economics and an estimated market value for the Company. This updated CPR is expected before the end of 2011.

A third phase of seismic acquisition is planned to commence immediately on the 'Project of Belize Lands', with completion scheduled for February 2012.

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

Notes

New World Oil and Gas Plc is focussed on making investments in the oil and gas sector, either by acquisition or by participation through Farm-Out. The Company targets late stage exploration or early production projects that, in the opinion of the Directors, are undervalued, underdeveloped or under-performing, located in basins with large proven reserves. New World is currently operating in Central America and Europe where New World has acquired two highly prospective projects via Farm-Out Agreements, although the Board is actively identifying exploitation opportunities in areas including Africa, South America and South East Asia.