Update on Subscription

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

20 November 2013

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

Update on Subscription

Further to the announcement of 3 October 2013 the Company is continuing to work with Niel Petroleum S.A. ('Niel' or 'the Subscriber') to finalise the subscription and will make a further announcement when all necessary matters have been resolved. The Company expects to be in a position to do so later this month and as per the previous announcement, the Board believes that the Subscriber fully intends to complete the investment in New World.

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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. 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.