New World Oil and Gas provides 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.

Licence 1/09 - Danica Jutland Project • 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 US$667 million (adjusted to an 80% working interest), as set out in the Re-Admission Document dated 3 July 2012 • Discussions are on-going with potential farm-in partners • Updated Competent Person's Report ('CPR') will be released before the end of Q2 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

Tags: New World O&G