NEW World OIL & GAS (NEW)

 

LSE:NEW: Update

NEW World OIL & GAS

15 Feb 2016 07:00:08

New World Oil & Gas

RNS Number : 9996O
New World Oil & Gas
15 February 2016
 

 

 

 

For immediate release                                                                                       15 February 2016

 

 

 

New World Oil and Gas plc ("NWOG" or the "Company")

 

Update

 

On 19 November 2015, the Company announced that all of the resolutions proposed at its general meeting were passed by shareholders, principally in connection with the strengthening of the board.  Consequently, Adam Reynolds and Nicholas Lee were appointed as directors with immediate effect. 

 

Since then, the Board has been working to reduce further the Company's cost base from historic levels, conserve its cash balance and pursue monies due to the Company. Also, the Board can report that further to the announcement of 27 October 2015, there have been no new developments with potential investors and contractors with regard to Belize, and that the Board has been actively exploring various opportunities for the Company with a specific focus on creating value for its shareholders.

 

Overall, the Board is pleased with the progress that has been made over the short period since the end of last year and will provide further updates to the market in due course.

 

 

* * ENDS * *

 

For further information please contact:

 

Enquiries:



Georges Sztyk

New World Oil and Gas Plc

Tel: + 1 646 407 9946




Roland Cornish

Beaumont Cornish Limited (Nomad)

Tel: +44 (0) 20 7628 3396

Felicity Geidt

Beaumont Cornish Limited (Nomad)

Tel: +44 (0) 20 7628 3396




Lottie Brocklehurst

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177

Frank Buhagiar

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177




Nicholas Bealer

Cornhill Capital Limited (Broker)

Tel: +44 (0) 20 7710 9612

Andrew Frangos

Cornhill Capital Limited (Broker)

Tel: +44 (0) 20 7710 9611

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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