- New World Oil and Gas announces that the Blue Creek #2 well targeting the B Crest prospect commenced drilling on 27 September 2012, at its Blue Creek Project, located in the productive Petén Basin in Northwest Belize.

The Company's Competent Person, RPS Energy, estimates B Crest to hold a P50 un-risked prospective resource of 92.1 million barrels of oil ('MMbo') (Y1 and Y2 intervals) and a P50 un-risked Net Present Value ('NPV10') of US$2.4 billion on a 100% working interest basis.

Following New World's farm-down of a 5% working interest in the Blue Creek #2 well with the drilling contractor, ThermaSource International LLC, rig #104 will drill to a target depth ('TD') of 7,000ft, targeting the mid cretaceous Yalbac 2 Formation.

RPS Energy reports a Probability of Geologic Success ('POSg') of 1 in 5 and drilling results will be released once TD has been reached, which is expected to be in mid November 2012.

At 9:10am: [LON:NEW] New Look Group share price was +0.13p at 11.25p

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