Automating using Selenium

I am trying to find the text from the Select Elements "[New List]". The HTML code behind this is :

<div id="pageBody">
<div class="grid">
<div class="col_12 bgColor column">
<form method="POST" action="pickListEdit.cfm" name="formMain" id="formMain">
<input type="hidden" id="usrAction" name="usrAction" value="NONE"/>
<input type="hidden" id="listtype" name="listtype" value="ACCTS"/>
<input type="hidden" id="listmodified" name="listmodified" value="0"/>
<table cellpadding="0" cellspacing="0" border="0" width="620">
<tbody>
<tr class="alt first last">
<td>
<table cellpadding="0" cellspacing="0" border="0" width="360">
<tbody>
<tr class="alt first">
<td width="150" align="right" class="critH2">
<td height="1" align="left">
<select name="listkey" size="1"    onchange="formSubmit('GET');"class="selectfont">
<option value="0">[New List]</option>
</select>
</td>
</tr>
<tr class="alt last">
</tbody>
</table>
</td>
<td width="10"/>
<td width="10"/>
<td valign="top">
</tr>
</tbody>
</table>
<table border="0" cellspacing="0" cellpadding="0" width="600">
</form>
</div>
</div>
</div>
</div>
</body>

The C# code that I am using is :

var AccPic = Driver.Instance.FindElement(By.ClassName("selectfont"));
var selectelement = new SelectElement(AccPic);
selectelement.SelectByText(AP);

The problem is it is unable to find the field name. What I need to do is find the element [New List] and select it. Can someone please help.