Please feel free to get in touch if you would like to arrange a chat with management. Cheers Frank New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 12 June 2012 New World Oil and Gas Plc (New World or the Company) Highly Positive Update to Danica Jutland CPR New World Oil and Gas Plc, a company focussed on making investments in the oil and gas sector, has received a highly encouraging update to the Competent Persons Report (CPR) from RPS Energy (RPS) for the Danica Jutland Project located in the highly prospective Jutland on-shore area in South Western Denmark (the Project). Key Findings of the CPR:
* Update follows the completion of Phase 1 of a 2-D seismic acquisition programme on the 1/09 and 2/09 Licences (the Licences) that total 4,107 sq km * Indicative volumetric outcomes of two Triassic (gas) Prospects - "Jelling" and "Harboe" and one Zechstein (oil) Prospect -"Jensen" are presented in Table 1 * Indicative success case Net Present Values (NPV10), based on conceptual development scenarios, were reviewed by RPS and are found to be reasonable in the event of success (see Table 2) * Probability of Geologic Success for Triassic Prospects upgraded to 1 in 8 from 1 in 12 from the previous CPR * Probability of Geologic Success for Zechstein Prospect upgraded to approximately 1 in 12 from 1 in 16 from the previous CPR * Phase 1 seismic data is of very good quality - covered a total of 134.65 line km * All eight Zechstein and two Triassic leads and prospects identified in first CPR (August 2011) using old 2-D seismic data, have been confirmed by Phase 1 of seismic * RPS states the licences are large and offer significant exploration potential should a discovery be made * With the completion of Phase 1 seismic, New World has applied for the assignment of the first 12.5% working interest in the Project * Phase two seismic on the Project will begin in August 2012 and should be completed by the end of Q1 2013 * Option to earn 80% interest in the Project upon completion of drilling two wells set out in the Farm-Out Agreement (announcement 11 October 2011)
Table 1: Indicative volumetric outcomes for Jelling, Harboe prospects and Jensen lead (100% working interest basis) Prospect/ Lead In place volumes Prospective Resources GPoS
P90 P50 P10 Low Estimate Best Estimate High Estimate
Jelling (Triassic gas) 162 Bcf 492 Bcf 1,523 Bcf 119 Bcf 366 Bcf 1,146 Bcf 1 in 8 Harboe (Triassic gas) 182 Bcf 512 Bcf 1,466 Bcf 134 Bcf 382 Bcf 1,103 Bcf 1 in 8 Jensen (Zechstein oil) 140 MMstb 305 MMstb 624 MMstb 26 MMstb 60 MMstb 128 MMstb > 1 in 12
Table 2: Indicative success case economic outcomes Prospect/Lead Risk Gross Bcf/MMBO NWOG Bcf/MMBO NWOG PV10 $MM
Harboe P90 134.3 107.4 99.5 MEAN 534.0 427.2 465.4 P50 381.5 305.2 321.5 P10 1,103.3 882.6 963.2
Jelling P90 118.8 95.0 87.3 MEAN 538.4 430.7 470.1 P50 336.0 292.8 316.1 P10 1,145.9 916.7 1,001.1
Jensen P90 25.7 20.6 281.7 MEAN 70.7 56.6 796.2 P50 59.6 47.7 666.9 P10 128.1 102.5 1,383.1
New World CEO William Kelleher said, "After just the first phase of seismic, we now have indicative volumetrics and success case economic outcomes for our Danica Jutland Project totalling 147 MMBOE (unrisked sum of individual P50, three discovery case) and a NPV10 of US $1.305 billion net to New World, surpassing our own expectations.

Moreover, these numbers only include three of 10 identified prospects or leads. "This is an extremely positive CPR update and another significant milestone for New World and underpins the tremendous confidence we have in our first Danish project.

We intend to acquire 55 line km of additional 2-D seismic this summer and will conduct further AVO work in an effort to reduce the GPoS in the Triassic to a 1 in 5, or better, and elevate the status of these two prospects to "drillable" with a view to drilling sooner rather later. "Earlier this year we secured our second project in Denmark, the Danica Resources Project, which RPS, in their initial CPR, reported as having tremendous volumetric potential of unrisked P50 recoverable volumes of 1.4 TCF of gas in a Rotliegendes target and 97 MMstb oil in a Zechstein target with a combined P50 NPV10 of US $2.4 billion based on a conceptual development plan assuming a discovery in both reservoirs.

Combined, Danica Jutland and Danica Resources make New World the largest licence holder in Denmark with 2.7 million acres.

I look forward to updating shareholders on our continued rapid progress as we unlock the potential value of both projects in Denmark as well as our flagship project in Belize.

" The conclusions section of the Update to the CPR is reproduced in its entirety below: "New World Jutland ApS is a wholly owned subsidiary of New World Oil & Gas Plc.

New World currently has a 12.5% working interest ("WI") in two licences, 1/09 and 2/09, onshore Denmark and has the right to earn up to 80% WI and became Operator in October 2011 after Government and partner approval. The licences cover a large portion of the country of Denmark and are located in an under-explored area and overlie an interesting mirror-image play to the well-established northern platform edge of the Southern Permian Basin. The terms and forward commitments for the licences are reasonable, manageable and appropriately scaled to high grade the existing leads into drillable prospects should the results prove positive. The recent acquisition, processing and interpretation of approximately 135 km of 2D seismic met the Companys first phase of work obligations and has marginally de-risked the previously identified leads and prospects.

The new data has provided sufficient encouragement to embark on the next phase of activity.

This will require further targeted 2D data over the Triassic prospects, Jelling and Harboe and, most likely, a 3D seismic survey over the Jensen lead in the Zechstein.

Upon completion of this work New Worlds working interest in the licences will increase to 25%. The plan to acquire more seismic is an essential next step to identify a robust prospect (or prospects) but elements of the remaining geological risk will only be mitigated by drilling one or more wells.

Key risks are the presence of reservoir quality rocks in the Zechstein and robust structural closure in the Triassic, although possible DHIs exist in the Triassic which, together with gas shows in the Novling-1 well, may indicate a working hydrocarbon system in the area.

Both plays have an element of source and migration risk. The planned acquisition of seismic and the identification of robust structures could reduce the current geological risk to approximately 1 in 8 for the Zechstein and 1 in 5 for the Triassic. Indicative volumetrics based on the currently available data demonstrate a suitably wide range of uncertainty on the potentially in-place and recoverable hydrocarbons.

New World has run screening economics based on the range of outcomes and concludes that in the event of discovery the projects are likely to be commercially attractive.

RPS has reviewed the assumptions and other input parameters for the screening economics and finds them to be reasonable." In compiling their report, RPS Energy has used the definitions and guidelines as set out in the Petroleum Resources Management System (PRMS) by the SPE/WPC/AAPG/SPEE in 2007 as the internationally recognised Standard required by the AIM Guidance Note. 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 VP, Consulting (US), with RPS in Houston.
* * ENDS * *
AAPG American Association of Petroleum Geologists AVO Amplitude variation with offset B Billion Bbls Barrels Bcf Billion cubic feet Bo Barrel of oil closure The vertical distance from the apex of a structure to the lowest structural contour that contains the structure.

Measurements of both the areal closure and the distance from the apex to the lowest closing contour are typically incorporated in calculations of the estimated hydrocarbon content of a trap. DHI Direct hydrocarbon indicator GPoS Geological Probability of Success Km Kilometre M metres M Thousand MM Million MMbo Million barrels of oil Mstb Thousand stock tank barrels MMscf/d Millions of standard cubit feet per day MMstb Million stock tank barrels NPV10 Net Present Value using an annual discount on cashflow of 10% per annum P10 At least a 10% probability that the quantities recovered will equal or exceed the estimate.

This is a measure of uncertainty not geological or commercial risk P50 At least a 50% probability that the quantities recovered will equal or exceed the estimate.

This is a measure of uncertainty not geological or commercial risk P90 At least a 90% probability that the quantities recovered will equal or exceed the estimate.

This is a measure of uncertainty not geological or commercial risk Play The combination of reservoir, seal and source that is required to promote the likelihood of a working petroleum system within any given region or fairway. prospect A potential trap which geologists believe may contain hydrocarbons prospective volumes Quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations.

In the event of discovery they are likely to be technically viable and economic to recover Reefal build-ups Lithified carbonate build-ups associated with repeated episodes of coral reef formation on a platform edge often in response to minor sea-level change cycles reservoirs A subsurface body of rock having sufficient porosity and permeability to store and transmit fluids Rotliegendes The Rotliegend is a sequence of rock strata of early Permian age found in the subsurface of large areas in western and central Europe and mainly consists of sandstone layers.

It is usually covered by the Zechstein. sq km Square kilometres Stb Stock tank barrels Scf Standard cubic feet SPB Southern Permian Basin SPE Society of Petroleum Engineers SPEE Society of Petroleum Evaluation Engineers Triassic Of or belonging to the geologic time, system of rocks, or sedimentary deposits of the first period of the Mesozoic Era - between the Permian and Jurassic periods, about 245 million to 208 million years ago. WPC World Petroleum Council Zechstein Unit of sedimentary rock layers of Middle to Late Permian (Guadalupian to Lopingian) age located in the European Permian Basin.
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 focussed on making investments in the oil and gas sector, either by acquisition or by participation through Farm-Out.

The Company targets late stage exploration or early production projects that, in the opinion of the Directors, are undervalued, underdeveloped or under-performing, located in basins with large proven reserves.

New World is currently operating in Central America and Europe where New World has acquired two highly prospective projects via Farm-Out Agreements, although the Board is actively identifying exploitation opportunities in areas including Africa, South America and South East Asia. New Worlds first investment was in the Blue Creek Project, located in the productive Pet�n Basin in northwest Belize, and consists of two concessions, Blue Creek and Blue Creek South, totalling 420sq km.

The Company has signed a Farm-Out Agreement for up to a 100% working interest in the project upon full completion of the earn-in work programme.

A multi-phased 2-D seismic acquisition and interpretation programme is being undertaken, with Phase 1 complete and Phase 2 currently underway, the completion of which will earn the Company a 25% interest in the project.
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