Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

New World Oil & Gas extends Belize PSA for two years

New World Oil & Gas extends Belize PSA for two years

New World Oil & Gas (LON:NEW) has told investors that the Belize government has approved a two year extension to its production sharing agreement (PSA) for the Blue Creek project.

The PSA now runs up until October 12 2015.

Over the next twelve months the company intends to carry out a thorough review of its previously captured seismic and drilling results. Then, in the second year of the renewal, New World will have the choice to either drill one new exploration well or ‘drop’ the PSA.

New World says it continues to look for a farm-in partner to share the exploration drilling costs at Blue Creek.

"We are delighted to have received the approval from the Government of Belize for the third renewal period on the Blue Creek PSA,” chief executive Bill Kelleher said in a statement.

“With an active exploration work programme in place we are stepping up our efforts to seek farm-in or joint venture partners for our highly prospective licence areas.

“We will continue to keep the market informed of our activities."

View full NEW profile View Profile

New World Oil & Gas Timeline

Newswire
September 15 2015

Related Articles

oil and gas operations
April 26 2018
The Verbier discovery was a breakthrough in 2017, and the 2018 progammes aims to follow up that success.
oil and gas operations
July 03 2018
Analyst Ashley Kelty highlighted what could be characterised as favourable environment and opportunity for Rose Petroleum
oil well
August 22 2018
Production in the six months to June rose 64% following a workover campaign on the three producing wells

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use