TIDMNEW

RNS Number : 6019E

New World Oil & Gas

19 July 2016

New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas

For immediate release 19 July 2016

NEW WORLD OIL AND GAS PLC ("New World" or "the Company")

Update on Big Sofa Limited

The Board is pleased to announce that the second tranche of the loan to Big Sofa Limited ("Big Sofa") for working capital purposes, as described in the Company's announcement of 9 May 2016 and approved by shareholders at the Company's EGM on 17 June 2016, has now been drawn down in full. The Board is pleased with the progress that is being made by Big Sofa as regards current trading and the implementation of its strategic plan and can also confirm that the work with regard to its proposed acquisition by the Company is progressing well.

The Board is also pleased to report that Nicholas Lee has been appointed as Chairman of New World with immediate effect.

 
 Enquiries: 
 Adam Reynolds    New World Oil and    Tel: +44 (0)7785 
  Nicholas Lee     Gas plc              908158 
                   New World Oil and    Tel: +44 (0) 20 
                   Gas plc              7580 7576 
 Roland Cornish   Beaumont Cornish     Tel: +44 (0) 20 
                   Limited              7628 3396 
 Felicity Geidt   Beaumont Cornish     Tel: +44 (0) 20 
                   Limited              7628 3396

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 19, 2016 06:40 ET (10:40 GMT)

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