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Update on Subscription to raise USD25 million

31st Mar 2014 16:31

RNS Number : 6417D

New World Oil & Gas

31 March 2014

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

31 March 2014

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

Update on Subscription to raise US$25 million

Further to the approval of Shareholders at the Annual General Meeting on 12 September 2013, New World has continued to work with the Subscriber, Niel Petroleum SA ("Niel"), to complete the subscription on the agreed terms, namely the issue of Subscription Shares at 0.735p per Subscription Share.

With reference to the announcement of 4 March 2014, the deadline for the completion of subscription, being today, has been extended by one month to 30 April 2014.

A further announcement will be made in due course.

** ENDS **

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

Enquiries:
William Kelleher	New World Oil and Gas Plc	Tel: +17134472171
Georges Sztyk	New World Oil and Gas Plc	Tel: +1514 9612247
Peter Sztyk Felicity Geidt	New World Oil and Gas Plc Beaumont Cornish Limited	Tel: +19172157122 Tel: +44 (0) 20 7628 3396
Roland Cornish	Beaumont Cornish Limited	Tel: +44 (0) 20 7628 3396
Jerry Keen	Shore Capital	Tel: +44 (0) 20 7408 4090
Pascal Keane	Shore Capital	Tel: +44 (0) 20 7408 4090

Hugo de Salis	St Brides Media & Finance Ltd	Tel: +44 (0) 20 7236 1177
Lottie Brocklehurst	St Brides Media & Finance Ltd	Tel: +44 (0) 20 7236 1177
Frank Buhagiar	St Brides Media & Finance Ltd	Tel: +44 (0) 20 7236 1177

This information is provided by RNS

The company news service from the London Stock Exchange

END

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