Key findings of the CPR:

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1 New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas 16 August 2011 New World Oil and Gas Plc ( New World or the Company ) Prospectivity of the Danica Jutland Project, Denmark, highlighted by independent Competent Person s Report New World Oil and Gas Plc, a company focussed on making investments in the oil and gas sector, has received its commissioned Competent Person s Report ( CPR ) from RPS Energy ( RPS ) highlighting the prospectivity of the 1/09 and 2/09 Licences totalling 4,107 sq km, located in the productive Jutland on-shore area in South Western Denmark ( the Danica Jutland Project ). The report, delivered in the form of a Letter of Opinion was commissioned in accordance with the Letter of Intent re the acquisition of the Project on 4 July Key findings of the CPR: The licences are located onshore Denmark on the southern flank of the Northern Permian Basin ( NPB ), a relatively under explored area. The southern flank of the NPB can be regarded as a mirror image of the northern flank of the Southern Permian Basin ( SPB ) where productive reservoirs have been proved in the early Zechstein cycles, notably in Poland and Germany. Features are visible on the available seismic data that have the potential to be reef build-ups. Should further planned seismic coverage prove the existence of reefs and /or shoal facies, it is envisaged by RPS that these are likely to make excellent reservoirs. The plan to acquire more seismic is the next step to identify a robust prospect (or prospects) to reduce the current geological risk to approximately 1 in 8 for the Zechstein and 1 in 5 for the Triassic. The licences have the potential to contain multiple productive horizons. Seismic data carried out in nearby areas have structurally conforming amplitude (bright spot) and/or AVO (amplitude versus offset) anomalies that are often direct indicators of gas - amplitude anomalies are found in Triassic Bunter Sandstone gas fields in the SPB. Further positive evidence for the presence of a working hydrocarbon system are the gas shows over a significant stratigraphic interval in the Novling-1 well on trend to the NW of the two gas leads Extensive geochemical soil survey undertaken to ascertain how compositionally similar the soil sample in the area is to a known oil standard, with positive results showing some striking clusters. 2 Triassic and 8 Zechstein leads identified, 6 of which coincide with a feature on seismic data that appears to be a carbonate build-up of some kind. Bearing in mind the licences are large, should a discovery be made on drilling a well-defined Zechstein or Triassic prospect, then the area would offer significant further exploration potential.

2 RPS opinion is that this is an interesting opportunity to assess early stage exploration in a well thought through but, as yet, unproven play(s). The forward plan to acquire more seismic in a phased approach is what is required to mature certain subsurface leads into prospects. RPS will be providing updates to this report as New World complete their future acquisition and interpretation of additional 2-D seismic and combine this data with pre-existing data in an effort to further enhance the subsurface interpretation and further reduce and quantify risk. Ultimately, New World intends to elevate the prospectivity of the Danish blocks to a drillable status upon completion of a 200km 2-D seismic programme. The conclusions section of the CPR is reproduced in its entirety below: On completion of proposed farm-out and operating agreements, New World will have the right to earn up to 80% Working Interest ( WI ) and become Operator in two licenses, 1/09 and 2/09, onshore Denmark (subject to government and partner approval). The licenses are located in an under-explored area and overlie an interesting mirror-image play to the well-established northern platform edge of the Southern Permian Basin. The current licence Operator, Danica Jutland APS ( Danica Jutland ), has developed a geological model that draws on their experience to the south of the Ringkøbing-Fyn High and specifically targeted the licences to explore this play. Figure 1: Regional Location Map

3 Figure 2: Regional seismic line running from the Ringkøbing-Fyn High northwards into the NPB showing basin-ward thickening of the Zechstein and titled fault blocks in the Triassic In our opinion, this is an interesting opportunity to access early stage exploration in a well thought through but, as yet, unproven play(s). As such the terms and forward commitments are reasonable, manageable and appropriately scaled to high grade the existing leads into drillable prospects should the results prove positive. The plan to acquire more seismic is an essential next step to identify a robust prospect (or prospects) but elements of the remaining geological risk will only be mitigated by drilling one or more wells. Key risks are the presence of reservoir quality rocks in the Zechstein and robust structural closure in the Triassic, although possible DHIs (direct hydrocarbon indicators) exist in the Triassic which, together with gas shows in the Novling-1 well, may indicate a working hydrocarbon system in the area. Both plays have an element of source and migration risk. The planned acquisition of seismic and the identification of robust structures could reduce the current geological risk to approximately 1 in 8 for the Zechstein and 1 in 5 for the Triassic. New World CEO William Kelleher said, We are very excited about the results of this CPR which are extremely positive and underpin our belief that our Danica Jutland Project is in a productive and highly prospective region. The encouraging results have provided significant evidence pointing to the presence of a working hydrocarbon system on the southern flank of the Northern Permian Basin. Based on these results, we will immediately proceed to negotiate and finalise the definitive transaction agreements, in the form of a Farm-Out Agreement, and inclusion of New World to be named as operator to the Joint Operating Agreement with the North Sea Fund. It is important to note that the Company is fully funded through the seismic phase up to the point of drilling.

4 The permitting process for 2-D seismic acquisition will begin in early October of this year and we expect to complete data acquisition for the first phase of the seismic programme by May The Company and RPS will be providing regular updates on our operations and results of the seismic interpretation as they become available. Further Information: New World signed a non-binding LOI with Danica Jutland APS granting the Company a 65- day exclusivity period in which to undertake due diligence on the Danica Jutland Project in Denmark on 4 July Danica Jutland APS is a Danish company formed for the purpose of obtaining and exploring the southern fringe of the Northern Permian Basin covered by licences 1/09 and 2/09 which cover an area of million acres (~4,107km 2 ). Danica Jutland has been studying the area for some time and has developed a geological model and a number of leads based on available seismic data, an extensive surface soil geochemical survey, some well data and a number of academic papers. Figure 3: 1/09 and 2/09 licences with existing seismic data Figure 4: Summary Figure showing Oil and Gas Geochemistry Results a summary plot of the geochemical work superimposed on the geological trend map together with the locations of the leads identified on the seismic

5 Danica Jutland has an 80% working interest in the licences with a single partner, Danish North Sea Fund, who is entitled to the remaining 20%. It is New World s intention to acquire the entire working interest from Danica Jutland ApS, subject to the approval of the Danish government and Danish North Sea Fund. This acquisition is planned in the following stages: New World to complete the permitting, acquisition, processing and interpretation of the order of 100km of 2-D seismic split approximately equally between each licence. o This work is to be completed by the end of the second quarter of 2012 in return for which New World will receive 12.5% working interest in each licence New World to complete the permitting, acquisition, processing and interpretation of 2-D and/or 3-D seismic on each licence by 30 March 2013 deemed necessary to properly delineate drillable prospects, whereupon a further 12.5% working interest in each licence shall be transferred to New World. Survey design(s) are to be agreed by 30 March If no further seismic is deemed necessary the 12.5% shall be transferred immediately. New World to drill one hole on each licence (provided a drillable prospect has been identified on each licence) in return for which New World shall receive the remaining 55% working interest in each licence as each well is drilled. The licences were granted to Danica Jutland on 17 May 2009 with a 6-year exploration period with provisions for extension.

6 The minimum work programme required by the Danish government is as follows: Years 1 and 2 Collate available data, conduct geochemical soil-survey and create geological model using available seismic and literature references. This phase has been successfully completed Years 3 and 4 Acquire 2-D to better delineate certain leads (both in the Zechstein and Triassic intervals, followed by a 2-D or 3-D survey over selected leads. At the end of year 4 a drill or drop decision must be made Years 5 and 6 A well must be drilled on each licence by the end of year six The information contained in this announcement has been reviewed and approved by Andrew Kirchin on behalf of RPS. Mr. Kirchin has 24 years of relevant experience in the oil industry and is currently Senior VP, Geoscience and Equity, with RPS in Houston. * * ENDS * * For further information please visit or contact: Enquiries: William Kelleher New World Oil and Gas Plc Tel: Georges Sztyk New World Oil and Gas Plc Tel: Peter Sztyk New World Oil and Gas Plc Tel: Felicity Geidt Beaumont Cornish Limited Tel: +44 (0) Roland Cornish Beaumont Cornish Limited Tel: +44 (0) Jerry Keen Shore Capital Tel: +44 (0) Pascal Keane Shore Capital Tel: +44 (0) Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0) Lottie Brocklehurst St Brides Media & Finance Ltd Tel: +44 (0) Glossary Amplitude The difference between the maximum displacement of a wave and the point of no displacement, or the null point.

7 AVO (Amplitude versus offset) AVO analysis is a technique by which geophysicists attempt to determine thickness, porosity, density, velocity, lithology and fluid content of rocks. DHIs (direct hydrocarbon indicators) Measurement which indicates the presence or absence of a hydrocarbon accumulation. Gas leads A structure which may contain hydrocarbons. Gas shows Gas that rises to the surface, usually detected because it reduces the density of the drilling mud. Reef build-ups Lithified carbonate build-ups associated with repeated episodes of coral reef formation on a platform edge often in response to minor sea-level change cycles. Reservoirs A subsurface body of rock having sufficient porosity and permeability to store and transmit fluids. Shoal facies Localised build up of carbonate "sand" grains, usually in shallow marine settings, which exhibit similar characteristics to conventional silica grain depositional features in response to sea-level cycles and wave action. Stratigraphic The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks. Triassic Of or belonging to the geologic time, system of rocks, or sedimentary deposits of the first period of the Mesozoic Era - between the Permian and Jurassic periods, about 245 million to 208 million years ago. Zechstein Unit of sedimentary rock layers of Middle to Late Permian (Guadalupian to Lopingian) age located in the European Permian Basin.