Issue of Equity and Directors' Dealings

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

 2 November 2012

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

Issue of Equity

Directors' Dealings

Total Voting Rights

New World Oil and Gas Plc, the oil and gas exploration and development company focussed on Belize and Denmark, today announces the issue of a total of 3,680,500 new ordinary shares in the Company pursuant to the exercise of a total of 3,680,500 Warrants to subscribe for ordinary shares: 680,500 Warrants were exercised to subscribe at 5p per share and 3,000,000 Warrants were exercised to subscribe at 6p per share.

In addition, New World today announces the issue of 677,065 new ordinary shares in the Company at an average of 9.9p per share to contractors and advisers in part payment of services rendered.

New ordinary shares have been issued to the following Directors at an average of 9.8p per share as part of their director's fee:

In the announcement of 9 October 2012, the shareholding for William Kelleher, Director, subsequent to the placing and exercise of warrants, should have read 4,948,400 shares and 1.39%, not 4,591,744 shares and 1.29% as set out in the announcement. 

Application has been made a total of 4,450,822 new ordinary shares, which will rank pari passu with all existing ordinary shares in the Company, to be admitted to trading on AIM. Admission is expected to take place on or around 7 November 2012 ("Admission").

The Company has no Ordinary Shares held in treasury and as a result, the total number of voting rights in the Company will be 358,724,829. This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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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.