New World Oil and Gas reported that the Danish Energy Authority, which is part of the Government of Denmark, has formally approved the assignment of an initial 12.5 percent working interest in Licences 1/09 and 2/09, totaling 1,586 square miles (4,107 square kilometers), located in the productive Jutland onshore area in South Western Denmark ('the Danica Jutland Project' or 'the Project'), to the Company's wholly-owned subsidiary New World Jutland ApS (NW Jutland).

This represents the assignment of the first tranche under the Farm-Out Agreements announced on October 11, 2011 and follows the acquisition of 135 line kilometer of 2-D seismic data.

Tags: New World O&G