New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 20 September 2011 New World Oil and Gas Plc (New World or the Company) Positive update to Competent Persons Report identifies 4 leads/prospects and reduces geologic risk of Blue Creek Project, Belize New World Oil and Gas Plc, a company focussed on making investments in the oil and gas sector, has received an update to the Competent Persons Report (CPR) from RPS Energy (RPS) further highlighting the prospectivity and reducing the geologic risk of the Blue Creek Project, consisting of two on-shore concessions located in the productive Pet�n Basin in Northwest Belize (Blue Creek or the Project).

The update considers the significant progress made since the publication of the CPR on 8 June 2011, specifically seismic acquisition, processing, interpretation and application for the formal assignment to New World of a 12.5% working interest in the Project, following the completion of Phase 1 seismic. Key findings of the Update to the CPR: � Likelihood of discovering hydrocarbon accumulation at Blue Creek upgraded to 1 in 8 (previously quoted as in the range of 1 in 8 to 1 in 12) following completion of Phase 1 of seismic � Four leads/prospects identified, to be further delineated in Phase 2 of the seismic - all located in a zone that produced oil shows on wells on the adjoining licence area � Seismic expression of structures so far identified look very similar to the producing Spanish Lookout oil field in the south � Improved quality of the seismic increases confidence in the presence of structural features related to the regional fault trend - five 2D lines covering 68.2km of the 170km programme shot
� New seismic data are of good quality and demonstrate structural relief, particularly in the dip-direction - this runs NW-SE across the licence
� Licence remains a good opportunity to access early stage exploration in a highly prospective area - licence located in the productive Pet�n Basin in Northwest Belize � Plan to acquire further seismic in a phased approach is highly appropriate and should enable leads/prospects to be developed into drillable prospects � Intention to elevate the prospectivity of one or more leads/prospects to a drillable status on completion of the 170 km 2D seismic programme by Q2 2012 New World CEO William Kelleher said, "The results of Phase 1 seismic are very exciting and further underpin our belief that a working hydrocarbon system exists in the Blue Creek licence.

We are equally excited that we have met our primary objective in Phase 1 which was to increase the level of prospectivity of the licence by reducing the associated geologic risk through the seismic interpretation process.

RPSs updated CPR reports a reduction in geologic risk of the licence and now expresses the subsurface potential to leads/prospects in place of just leads, as used at the time of the CPR in June.

They further acknowledge the correlation and resemblance between the prospectivity and geologic potential in Blue Creek to that of the nearby producing Spanish Lookout Field which was also one of our key objectives in Phase 1. "We are continuing to move forward with Phase 2 of the seismic programme where our ultimate aim is to continue to reduce the geologic risk as far as we can until the logical step is to drill." The conclusions section of the Update to the CPR is reproduced in its entirety below: New World Oil & Gas plc, through its subsidiary New World Oil and Gas (Belize Operations) Ltd.

("NWB"), is now the Operator of two exploration concessions (Blue Creek and Blue Creek South - held under BCE PSA) onshore NW Belize.

Following the completion of Phase 1 (68.2 km) of a three-phase 2D seismic acquisition program (a minimum of 170 km), NWB and BCE have requested approval by the Government of Belize for the earned assignment of 12.5% working interest in the license area which is expected to be granted by the end of September 2011. The Phase 1 seismic data (BCE-2011survey) have been carefully acquired and processed to help overcome surface noise and a relatively weak reflectivity section.

The resultant data is of better quality than was achieved in 2008 and four leads/prospects have been identified based on the data acquired to date.

Two further phases of acquisition are planned in order to further delineate the existing leads/prospects and also to step out seismic coverage across the entire exploration area on the BCE licence blocks. In RPS opinion NWB/BCEs phased approach to the seismic acquisition is enabling the learning and experience to be progressively applied such that the value of the data is maximised.

The Phase 1 seismic data shows some encouraging features, particularly in the dip direction which has a similar seismic expression as dip lines over the producing Spanish Lookout oil field to the south. As detailed in the previous CPR, the license is favourably located in an under-explored area and is considered to be highly prospective, albeit at a very early stage of maturity.

In our opinion, this remains a good opportunity to access early stage exploration in a very prospective area. The plan to acquire more seismic in a phased approach is very appropriate and should enable certain subsurface leads/prospects to be matured into drillable prospects. The forward commitments are manageable and appropriately scaled for this level of exploration maturity. It remains inappropriate to estimate potential in-place or recoverable volumes.

However, the Phase 2 seismic may allow tentative estimates to be made if the leads/prospects continue to mature. Key risks remain the identification of subtle traps and the timing of maturation/migration relative to trap formation.

Source is low risk, migration itself is low risk, seal is low risk and reservoir presence and effectiveness in the Yalbac Y1 and Y2 is considered low risk. RPS considers that the improved quality of the seismic has increased confidence that there are structural features related the regional fault trend.

The next phase of seismic is designed to further delineate these features and be able to demonstrate reasonable confidence in 3-way dip closure against the identified faults.

Consequently, RPS now assigns a reduced risk of approximately 1 in 8 (12.5%) to the current likelihood of discovering a hydrocarbon accumulation in the Blue Creek concession.

This is an appropriate level of risk for a new play in an emerging area.

If the planned further acquisition of seismic is successful in the identification of robust structures, this will reduce this risk to something less than 1 in 8. RPS will continue to provide updates to the CPR as New World complete their future acquisition and interpretation of additional 2D seismic and combine this data with pre-existing data in an effort to enhance the subsurface interpretation and further quantify and reduce risk.

Ultimately, New World intends to elevate the prospectivity of one or more of the BCE block leads/prospects to a drillable status upon completion of the 170 km 2D seismic program.

Once seismic operations are complete and prospects have been identified, volume estimations and scoping economics will be forthcoming in the future updates to this report.

The intention is to mitigate the risk as much as possible until the next logical step will be to drill wells.
** ENDS ** Glossary: "BCE" means Blue Creek Exploration "km" means kilometres "MMbbls" means Millions of Barrels (oil) "PSA" means Production Sharing Agreement The information contained in this announcement has been reviewed and approved by Andrew Kirchin on behalf of RPS.

Mr.

Kirchin has 24 years of relevant experience in the oil industry and is currently Senior VP, Geoscience and Equity, with RPS in Houston. For further information please visit www.nwoilgas.com or contact: Enquiries: William Kelleher New World Oil and Gas Plc Tel: +17134472171 +44 7901 502 053 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
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