Watson, Farley & Williams (WFW) has advised New World Oil & Gas plc on its proposed change from an investment company to an operating resource company. This has arisen as a result of its election to commence drilling on its flagship project, the Blue Creek Project in Belize, such election being classified as a reverse takeover under the AIM rules.

The reverse takeover is conditional on shareholder approval which will be sought at the Company's Annual General Meeting to be held on 24 July 2012. If the relevant resolution is passed, the Company will readmit to AIM as an operating resource company on 25 July 2012.

Tags: Farley & Williams (WFW), Watson