Secures 6 month extension for Danish Licences

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

17 June 2013

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

Secures a six month extension for the Danica Jutland 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 secured a six-month extension in work programme commitment deadlines for Licences 1/09 and 2/09 ('the Licences') at its Danica Jutland Project in Western Denmark. This extension was discussed with Danica Jutland ApS and the Danish North Sea Fund, the Company's 20% full-paying partner, and approved by the Danish Energy Agency, and will allow the results of the recent acquisition of 3-D seismic survey and some soil geochemistry work over the Jensen prospects to be incorporated into a forward work programme on these licences.

In addition to allowing New World more time to evaluate the 3-D data interpretation and the prospects defined by the survey, the extra six months will provide New World with more time to continue on-going discussions with potential farm-in partners.

New World has completed the Danish licence obligations with regards to seismic acquisition. A total of 191 km of 2-D and 75 km2 of 3-D seismic has been acquired on the 1/09 and 2/09 licences and, as a result, New World currently holds a 25% working interest in these licences. Since acquiring the licences in 2011, the Company has commissioned and released a number of Competent Person's Reports, identifying four drill-ready prospects in Denmark.

New World CEO William Kelleher said, "We continue our efforts to secure a farm-out agreement that will allow us to drill as many of our drill-ready prospects as possible at our Danica Jutland Project and, at the same time, highlight the value we have created to date through our seismic acquisition programme. With the probability of geologic success currently estimated at 1 in 8 by our competent person, it is our intention to share risks and costs in Denmark going forward. We will update the market on the results of the recent seismic activity and our discussions with potential farm-in partners in the coming weeks."

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