New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 22 January 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. The Company is now pleased to announce that it has received Subscription funds to the value of US$4.8 million from Niel and which the Company is currently holding in escrow.

US$20.2 million, the balance of the agreed Subscription funds, is expected to be paid by Niel by the end of February and at that stage the total of 2,184,897,959 Subscription Shares will be issued and allotted in accordance with the transaction approved by Shareholders. 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
[cid:image002.png@01CECBDD.61F8A860] Lottie Brocklehurst St Brides Media & Finance Ltd 3 St Michaels Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 0207 236 1177 | Mob: 07917010468 | Twitter: @StBrides1