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.