Working Interest Increased to 75% at Blue Creek

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

26 February 2013

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

Working Interest Increased to 75% at Blue Creek Project, Belize,

New World Oil and Gas Plc, an oil and gas operating company focussed on Belize and Denmark, is pleased to announce it has formally received a 75% working interest in its Blue Creek Project located in the producing Petén Basin in Northwest Belize ('the Project'). This follows the Belize Ministry of Natural Resources and the Environment formally approving the assignment of a further 40% working interest in the Project to New World's wholly owned subsidiary, New World Oil and Gas (Belize) Ltd ('NW Belize'). The assignment follows the drilling of two exploration wells on the Blue Creek PSA 'B-Crest' location, as detailed in the Farm-Out Agreement ('FOA') announced on 16 June 2011.

Having drilled two wells to date in Belize, the Blue Creek #2 and #2A ST, under the terms of the FOA, the Company is on track to earn-into a 100% working interest in the Project by drilling the West Gallon Jug Crest prospect to a total depth of 8,800 ft. Drilling will commence on this third well in March 2013.

New World CEO William Kelleher said, "Earning into a 75% working interest into the Blue Creek Project in Belize marks a significant milestone for the Company. Although we did not make a commercial discovery at our B Crest prospect, three of four elements which make up a working hydrocarbon system, source, migration and seal have been confirmed. Trap remains the only outstanding risk and importantly each of our remaining five drillable prospects in Belize are geologically independent of each other. With this in mind, we are looking forward to recommencing our drilling campaign in Belize in the next few weeks at our West Gallon Jug Crest prospect which has been assigned by RPS Energy a P50 un-risked resource of 113 million barrels of oil for the Y1 and Y2 intervals only.

"Our Belize prospects are only part of the potential upside we are exposing our shareholders to. In Denmark we have three drillable prospects within our Danica Jutland and Danica Resources projects where we will be looking to drill later this year. We are hopeful that we will be able to reduce capital expenditure requirements in Denmark by farming-down to interested potential farm-in partners that have shown considerable interest in our Danish assets.

"2013 is shaping up to be an active year for New World. The total combined upside in both Denmark and Belize for all 8 drillable prospects that we have identified is P50 396 million barrels of oil and 2 trillion cubic feet of gas, representing an un-risked indicative upside value potential of more than US$6.4 billion. Our team has taken significant steps to de-risk these prospects which are now all drill ready. We also have built an inventory of 40 further prospects and leads in both Belize and Denmark that we continue to mature. I look forward to updating the market on our progress."

* *ENDS* *

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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. At Blue Creek in Belize drilling operations are due to commence at the West Gallon Jug Crest prospect in Q1 2013. 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.