New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 28 September 2012 New World Oil and Gas Plc (New World or the Company) Commencement of Drilling of Blue Creek #2 Well, B Crest Prospect, Belize New World Oil and Gas Plc, an oil and gas exploration and development company focused on Belize and Denmark, is pleased to announce that the Blue Creek #2 well targeting the B Crest prospect commenced drilling on 27 September 2012, at its Blue Creek Project (Blue Creek or the Project), located in the productive Pet�n Basin in Northwest Belize.

The Companys Competent Person, RPS Energy, estimates B Crest to hold a P50 un-risked prospective resource of 92.1 million barrels of oil (MMbo) (Y1 and Y2 intervals) and a P50 un-risked Net Present Value (NPV10) of US$2.4 billion on a 100% working interest basis. Following New Worlds farm-down of a 5% working interest in the Blue Creek #2 well with the drilling contractor, ThermaSource International LLC (ThermaSource), rig #104 will drill to a target depth (TD) of 7,000ft, targeting the mid cretaceous Yalbac 2 Formation.

RPS Energy reports a Probability of Geologic Success (POSg) of 1 in 5 and drilling results will be released once TD has been reached, which is expected to be in mid November 2012. Blue Creek #2 on the Companys B Crest prospect is the first of three wells planned to be drilled at Blue Creek.

RPS Energy has given the three drill ready prospects at Blue Creek combined P50 volumetrics of 329MMbo and a NPV10 of US$8.1 billion, on a 100% working interest basis. New World CEO William Kelleher said, "A significant milestone has been reached for New World today in the spud of our first well in Belize.

This has been achieved not only ahead of schedule but at a reduced cost, following the amendment to the Farm-Out Agreement and subsequent farm-down to our drilling contractor as previously announced.

Blue Creek #2 is the first of three wells planned to be drilled in Belize over the next twelve months.

This is a highly exciting time for the Company, and I look forward to updating the market on our progress as we continue our efforts to make an oil and gas discovery."
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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 961 2247 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
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 Companys most advanced project where, later this year, drilling is due to commence 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 Companys 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.
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