New World Oil and Gas Plc announced that the Rio Bravo Well ('Rio Bravo') located in the productive Petén Basin in Northwest Belize was drilled to a measured depth of 9,010 feet on April 21, 2013. As a result, the company has deemed the well non-commercial and decided to plug and abandon Rio Bravo. The logs and core samples were independently analyzed, as well as mud logs and all other available data. It has been determined an active hydrocarbon system exists and, as in the company's previous well, live oil shows were measured in the Y3 and Hill Bank formations. Extensive residual oil was also present along with high saturations of formation water. It is the company's prognosis that the primary issue in the sub-surface was that the timing of oil migration occurred prior to trap formation. However, the company remains of the opinion that the technical data, produced by the Rio Bravo well, demonstrates that the New World acreage has received a petroleum charge and likely contains productive reservoirs, and will play an important role during the drilling of the future wells in Belize. Accordingly, the company is in initial talks with potential farminees, in order to fund further exploration on the Blue Creek license. Additionally, the Company has submitted an application to the Government for the assignment of the final 25% working interest in the Blue Creek license, which will elevate the company's working interest to 100%. Approval from the Government is expected in the coming weeks.

New World Oil and Gas Plc provided an update on its operations in Denmark where the Company has interests in two projects. The Danica Jutland Project is located in the highly prospective North Permian Basin in the Jutland on-shore area in South West Denmark and the Danica Resources Project is located in the productive Western Baltic region of the South Permian Basin in Southern Denmark. Interpretation of the 75 sq km 3-D seismic acquisition programme on the Zechstein (Z1 and Z2) Jensen prospect is now complete. RPS Energy has currently assigned the Jensen prospect P50 prospective resources of 48MMbo valued at USD 667 million (adjusted to an 80% working interest), as set out in the Re-Admission Document dated July 3, 2012. Discussions are on-going with potential farm-in partners. Updated Competent Person's Report will be released before the end of second quarter of 2013. New World currently has a 25% working interest in the Danica Jutland Project with an option to earn up to 80%; the Danish North Sea Fund will remain with a 20% interest. 38.5 sq km 2-D seismic acquisition programme completed. High grading data on large Zechstein Zn-2, Zn-3 and Zn-4 leads totaling 13,485 acres which were targeted by several of the latest 2-D lines as announced in the Danica Resources CPR Update on January 22, 2013. Interpretation of the data is now underway with a view to deciding which leads are to undergo a 3-D seismic acquisition programme. Als Prospect P50 volumetrics remain at 97 MMbo and 1.4 TCF of gas valued at USD 2.4 billion. New World currently has a 25% working interest in the Danica Resources Project with an option to earn up to 80%; the Danish North Sea Fund will remain with a 20% interest.

New World Oil and Gas Plc announced that the Rio Bravo #1 Well ('Rio Bravo' or 'the Well') on the West Gallon Jug Crest prospect ('WGJc') in Belize is currently drilling at approximately 7,700 feet. Whilst a number of hydrocarbon shows have been recorded, the commerciality of these shows can only be determined once the well is drilled to total depth, open hole logs are run and interpreted, and well testing results are available. The planned TD of the Well is estimated at 8,800 feet. On-going operations are continuing to proceed without incident, are on schedule and under budget. Rio Bravo, which commenced drilling on 1 March 2013, is targeting a non-fault dependent four way structural closure in the Upper Jurassic Margaret Creek Formation. The Well is currently drilling through the Cretaceous interval, through the anhydrite top seal and dolomite sequences. To date drilling operations at WGJc have been in line with the Company's geologic expectations. As reported in the Company's Re-Admission Document dated 3 July 2012, the West Gallon Jug Crest prospect shows P50 un-risked prospective resources of 113 million barrels of oil, with a P50 Net Present Value of $2.6 billion on a 100% working interest basis. Following the completion of the Rio Bravo Well #1, New World's working interest in the Blue Creek Project, where the Company has identified multiple leads and prospects, will increase to 100%, subject to approval by the Government of Belize.