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New World Oil - Listed 11th May 2011 Worth a punt! (NEW)
skyhigh - 14 May 2011 15:12
dreamcatcher
- 13 Jun 2011 18:40
- 11 of 19
Wish I had purchased these now, another good rise today.
skyhigh - 14 Jun 2011 22:30 - 12 of 19
yep...looking good!
dreamcatcher
- 16 Jun 2011 07:25
- 13 of 19
KeywordCompanyEPIC/TIDMSEDOL/ISIN Print Thursday 16 June, 2011New World Oil & Gas
Completes Definitive Transaction Documents
RNS Number : 5313I
New World Oil & Gas
16 June 2011
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
16 June 2011
New World Oil and Gas Plc ('New World' or the 'Company')
Completes Definitive Transaction Documents for the Blue Creek Concessions, Belize
New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, is pleased to announce that it has completed a Farm-Out Agreement ('FOA') to acquire up to a 100% participating interest in the Production Sharing Agreement ('PSA') over the Blue Creek Project in the Pet Basin in Belize and, furthermore, has entered into an operations agreement with respect to the PSA (the 'Operations Agreement'). Additionally the Company has entered into a 2-D seismic acquisition agreement with American Seismic LLC and will commence the first phase of its seismic acquisition programme for the Blue Creek Project later this month.
The FOA was agreed between the Company's wholly-owned subsidiary New World Oil and Gas (Belize) Ltd ('NW Belize') and Blue Creek Exploration Ltd ('BCE') which had the original agreement with the Government of Belize (dated 12 October 2007, as amended). The Operations Agreement was entered into by New World Oil and Gas (Belize Operations) Ltd ('NW Belize Ops'), a wholly owned subsidiary of the Company, and BCE, whereby NW Belize Ops is named as operator of the Blue Creek Project.
Key provisions of the above agreements:
Upon the acquisition of 45 line km of 2D seismic data over the Project and re-payment of US$250,000 of BCE's historical costs ($150,000 in cash and $100,000 in the Company's ordinary shares to be issued at a price of 6.5p per share) BCE must transfer and assign 12.5% of its rights under the PSA to NW Belize.
Upon the acquisition of an additional 125 line km of 2D seismic data over the Project, BCE must transfer and assign a further 12.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the first well through the Jurassic, BCE must transfer and assign a further 37.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the second well through the Jurassic, BCE must transfer and assign the remaining 37.5% of its rights under the PSA to NW Belize.
BCE will retain a 5% royalty interest following the assignment of 100% of its participation rights under the PSA.
BCE appoints NW Belize Ops as operator under the PSA with immediate effect.
New World CEO William Kelleher said, "We are very excited to announce the completion of these agreements for the Blue Creek Project which marks a huge step forward for our company. Being named operator under the PSA by our partners with the full support and agreement from the government demonstrates our team's commitment and ability. We will shortly begin a two phase 2-D seismic acquisition and interpretation programme which will bring us one step closer to reducing geologic risk in the licence area. This programme, set out under our farm-out agreement is designed to allow the Company to focus in on high grading subsurface prospectivity, before deciding on continuing to the next seismic acquisition phase and completing our further farm-in obligations. This is in line with our previously stated goals of high-grading the leads on the northern licence area under the PSA that are significant in size and potential, which closely resemble existing producing fields to the south, using our existing cash reserves and improving our chances of an early discovery."
** ENDS * *
Completes Definitive Transaction Documents
RNS Number : 5313I
New World Oil & Gas
16 June 2011
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
16 June 2011
New World Oil and Gas Plc ('New World' or the 'Company')
Completes Definitive Transaction Documents for the Blue Creek Concessions, Belize
New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, is pleased to announce that it has completed a Farm-Out Agreement ('FOA') to acquire up to a 100% participating interest in the Production Sharing Agreement ('PSA') over the Blue Creek Project in the Pet Basin in Belize and, furthermore, has entered into an operations agreement with respect to the PSA (the 'Operations Agreement'). Additionally the Company has entered into a 2-D seismic acquisition agreement with American Seismic LLC and will commence the first phase of its seismic acquisition programme for the Blue Creek Project later this month.
The FOA was agreed between the Company's wholly-owned subsidiary New World Oil and Gas (Belize) Ltd ('NW Belize') and Blue Creek Exploration Ltd ('BCE') which had the original agreement with the Government of Belize (dated 12 October 2007, as amended). The Operations Agreement was entered into by New World Oil and Gas (Belize Operations) Ltd ('NW Belize Ops'), a wholly owned subsidiary of the Company, and BCE, whereby NW Belize Ops is named as operator of the Blue Creek Project.
Key provisions of the above agreements:
Upon the acquisition of 45 line km of 2D seismic data over the Project and re-payment of US$250,000 of BCE's historical costs ($150,000 in cash and $100,000 in the Company's ordinary shares to be issued at a price of 6.5p per share) BCE must transfer and assign 12.5% of its rights under the PSA to NW Belize.
Upon the acquisition of an additional 125 line km of 2D seismic data over the Project, BCE must transfer and assign a further 12.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the first well through the Jurassic, BCE must transfer and assign a further 37.5% of its rights under the PSA to NW Belize.
Upon the drilling and completion of the second well through the Jurassic, BCE must transfer and assign the remaining 37.5% of its rights under the PSA to NW Belize.
BCE will retain a 5% royalty interest following the assignment of 100% of its participation rights under the PSA.
BCE appoints NW Belize Ops as operator under the PSA with immediate effect.
New World CEO William Kelleher said, "We are very excited to announce the completion of these agreements for the Blue Creek Project which marks a huge step forward for our company. Being named operator under the PSA by our partners with the full support and agreement from the government demonstrates our team's commitment and ability. We will shortly begin a two phase 2-D seismic acquisition and interpretation programme which will bring us one step closer to reducing geologic risk in the licence area. This programme, set out under our farm-out agreement is designed to allow the Company to focus in on high grading subsurface prospectivity, before deciding on continuing to the next seismic acquisition phase and completing our further farm-in obligations. This is in line with our previously stated goals of high-grading the leads on the northern licence area under the PSA that are significant in size and potential, which closely resemble existing producing fields to the south, using our existing cash reserves and improving our chances of an early discovery."
** ENDS * *
skyhigh - 22 Jun 2011 20:30 - 14 of 19
Holding up well.... looking good for further gains! (imho)
markymar
- 30 Jun 2011 14:30
- 15 of 19
New World Oil & Gas chief William Kelleher looks forward to the CPR due after the 2012 drillinghttp://www.youtube.com/watch?feature=player_embedded&v=5ED59FNOpzc
Is it me but 6.42 minutes of this interview he clearly touches him with his foot when asking a question if he feel vulnerable.something off here maybe its the 2 off them got something going on.
Thoughts anyone?
Is it me but 6.42 minutes of this interview he clearly touches him with his foot when asking a question if he feel vulnerable.something off here maybe its the 2 off them got something going on.
Thoughts anyone?
dreamcatcher
- 01 Jul 2011 20:15
- 16 of 19
Someone is operating his chair by remote control
dreamcatcher
- 01 Jul 2011 20:54
- 17 of 19
Or perhaps he thinks he is the drill bit. Could be oil under the floor of the office.lol
dreamcatcher
- 04 Aug 2011 08:00
- 18 of 19
Thursday 04 August, 2011New World Oil & Gas
Operations Update - Blue Creek Project, Belize
RNS Number : 7097L
New World Oil & Gas
04 August 2011
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
4 August 2011
New World Oil and Gas Plc ('New World' or 'the Company')
Operations Update - Blue Creek Project, Belize
New World Oil and Gas Plc, a company focussed on making investments in the oil and gas sector, is pleased to provide a positive operations update for its exploration and development programme for the Blue Creek Project in the Pet Basin in Northwest Belize ('the Project'), where the Company has made significant progress since acquiring it in June 2011 and seismic data is already being processed.
Overview:
Phase 1 of the 2-D seismic data programme completed ahead of management expectations and within budget with acquisition of 45.80 km spread over three lines
Data tapes sent for processing with results expected by the end of August 2011 - preliminary results show good data quality
Phase 2 of the 2-D seismic programme commenced - an initial two lines completed - expected to resume end August 2011, subject to improved weather conditions
Updated Competent Persons Report expected by the end of September 2011 incorporating the results of the first five lines (68 km) of seismic data
Formal assignment of 12.5% of the Product Sharing Agreement to New World currently being drafted for approval from the Government of Belize
New World CEO William Kelleher said, "I am very excited to report our progress on the Blue Creek project in Belize, which is funded through to the completion of phase 1 and 2 seismic programmes. Our goal has always been early oil, and this seismic programme is a major step in that direction. Our team has been working hard to ensure that we do not waste any time executing our programme. I am particularly pleased to note that our subsurface team and seismic contractor have accepted shares in the Company as partial payment for their services, which we believe is a real vote of confidence in the application of the technology we are using and says a lot about the overall prospectivity of our project.
"Prior to the signing of definitive transaction agreements, just 34 days from listing, which included the completion of our initial Competent Persons Report ('CPR'), all the work necessary to undertake our seismic operations in the field had been completed allowing us to be in the field within days of completion without any delay. This allowed us to complete phase 1 ahead of our expectations and under budget. We will continue to refine our prospects and choose at least two 'drill ready' seismic-based prospects by the end of Q1 2012."
Detailed Information
The Company's subsidiary, New World Oil and Gas (Belize) Ltd ('NW Belize'), has a Farm-Out Agreement ('FOA') with Blue Creek Exploration Ltd ('BCE') to acquire up to a 100% participating interest in the Production Sharing Agreement ('PSA') over the Blue Creek Project.
In June 2011, the Company appointed American Seismic LLC ('American Seismic') for the acquisition of 170 line km of 2-D seismic. Field conditions during the first few weeks of the survey were very wet as the Blue Creek survey area received more than 30 inches of rain (normal rainfall for this period of July is 5 inches). Nonetheless, surveying of five lines totalling 68.20 km (including 45.80 km of phase 1 and 22.40 km of phase 2) was completed ahead of management expectations and, importantly, with no work stoppage, injuries, or cost overruns. The seismic data was collected over different terrains including unpaved farm roads, flat to rolling hills with pastures to an area of uplifted and deeply incised limestone bedrock with dense jungle cover.
Phase 1 2-D seismic data acquisition programme 21 June - 21 July 2011
Seismic line designation
Length in kilometres
BCE-11-5
20.25
BCE-11-6
16.75
BCE-11-10
8.80
Total kilometres
45.80
Phase 2 2-D seismic lines acquired 22-25 July 2011
Seismic line designation
Length in Kilometres
BCE-11-7 East
8.70
BCE-11-8
13.70
Total kilometres
22.40
The data tapes for the five seismic lines were sent to Excel Geophysical Services Inc. in Denver, Colorado for processing and preliminary results show good data quality. The Company expects to receive final processed data by the end of August 2011. Interpretation of the new data will get underway as soon as any final processed data are received. Adjustments for the remaining 88 km of the existing survey may be made pending the results of the interpretation of the first five lines.
Seismic crews will be on a scheduled break until surveying resumes in the southern part of the license area in mid August 2011 when line BCE-11-2 will be acquired, weather permitting. In the interim period, road improvement work will be carried out to allow safer access into this area, a camp will be prepared to accommodate seismic crews, and access along logging roads will be cleared of trees blown down by a storm in 2010. Seismic crews will return to the northern part of the license area to continue surveying once BCE-11-2 has been recorded. Acquisition of this 14 km long line is anticipated to take two to three weeks, weather permitting.
NW Belize has also been active on many other administrative fronts: an interim General Manager has been named for the Project; two Belize entities have been incorporated, satisfying the ownership requirement for Belize concessions; bank accounts have been opened in Belize City to handle all local expenditures; and NW Belize is actively seeking office and residence accommodations in Belize City.
The phase 1 and phase 2 of the 2-D seismic data programme are fully funded. The directors are focussed on the rapid development of the Project, whilst incurring minimal costs. The Company's technical advisors have agreed to receive part of their fees in New World shares which suggests their confidence in the Project.
* * ENDS * *
For further information please visit www.nwoilgas.com or contact:
Enquiries:
William Kelleher
New World Oil and Gas Plc
Tel: +17134472171
+44 7901 502 053
Georges Sztyk
New World Oil and Gas Plc
Tel: +1514 961 2247
Peter Sztyk
Felicity Geidt
New World Oil and Gas Plc
Beaumont Cornish Limited
Tel: +19172157122
Tel: +44 (0) 20 7628 3396
Roland Cornish
Beaumont Cornish Limited
Tel: +44 (0) 20 7628 3396
Jerry Keen
Shore Capital
Tel: +44 (0) 20 7408 4090
Pascal Keane
Shore Capital
Tel: +44 (0) 20 7408 4090
Hugo de Salis
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Lottie Brocklehurst
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
Operations Update - Blue Creek Project, Belize
RNS Number : 7097L
New World Oil & Gas
04 August 2011
New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas
4 August 2011
New World Oil and Gas Plc ('New World' or 'the Company')
Operations Update - Blue Creek Project, Belize
New World Oil and Gas Plc, a company focussed on making investments in the oil and gas sector, is pleased to provide a positive operations update for its exploration and development programme for the Blue Creek Project in the Pet Basin in Northwest Belize ('the Project'), where the Company has made significant progress since acquiring it in June 2011 and seismic data is already being processed.
Overview:
Phase 1 of the 2-D seismic data programme completed ahead of management expectations and within budget with acquisition of 45.80 km spread over three lines
Data tapes sent for processing with results expected by the end of August 2011 - preliminary results show good data quality
Phase 2 of the 2-D seismic programme commenced - an initial two lines completed - expected to resume end August 2011, subject to improved weather conditions
Updated Competent Persons Report expected by the end of September 2011 incorporating the results of the first five lines (68 km) of seismic data
Formal assignment of 12.5% of the Product Sharing Agreement to New World currently being drafted for approval from the Government of Belize
New World CEO William Kelleher said, "I am very excited to report our progress on the Blue Creek project in Belize, which is funded through to the completion of phase 1 and 2 seismic programmes. Our goal has always been early oil, and this seismic programme is a major step in that direction. Our team has been working hard to ensure that we do not waste any time executing our programme. I am particularly pleased to note that our subsurface team and seismic contractor have accepted shares in the Company as partial payment for their services, which we believe is a real vote of confidence in the application of the technology we are using and says a lot about the overall prospectivity of our project.
"Prior to the signing of definitive transaction agreements, just 34 days from listing, which included the completion of our initial Competent Persons Report ('CPR'), all the work necessary to undertake our seismic operations in the field had been completed allowing us to be in the field within days of completion without any delay. This allowed us to complete phase 1 ahead of our expectations and under budget. We will continue to refine our prospects and choose at least two 'drill ready' seismic-based prospects by the end of Q1 2012."
Detailed Information
The Company's subsidiary, New World Oil and Gas (Belize) Ltd ('NW Belize'), has a Farm-Out Agreement ('FOA') with Blue Creek Exploration Ltd ('BCE') to acquire up to a 100% participating interest in the Production Sharing Agreement ('PSA') over the Blue Creek Project.
In June 2011, the Company appointed American Seismic LLC ('American Seismic') for the acquisition of 170 line km of 2-D seismic. Field conditions during the first few weeks of the survey were very wet as the Blue Creek survey area received more than 30 inches of rain (normal rainfall for this period of July is 5 inches). Nonetheless, surveying of five lines totalling 68.20 km (including 45.80 km of phase 1 and 22.40 km of phase 2) was completed ahead of management expectations and, importantly, with no work stoppage, injuries, or cost overruns. The seismic data was collected over different terrains including unpaved farm roads, flat to rolling hills with pastures to an area of uplifted and deeply incised limestone bedrock with dense jungle cover.
Phase 1 2-D seismic data acquisition programme 21 June - 21 July 2011
Seismic line designation
Length in kilometres
BCE-11-5
20.25
BCE-11-6
16.75
BCE-11-10
8.80
Total kilometres
45.80
Phase 2 2-D seismic lines acquired 22-25 July 2011
Seismic line designation
Length in Kilometres
BCE-11-7 East
8.70
BCE-11-8
13.70
Total kilometres
22.40
The data tapes for the five seismic lines were sent to Excel Geophysical Services Inc. in Denver, Colorado for processing and preliminary results show good data quality. The Company expects to receive final processed data by the end of August 2011. Interpretation of the new data will get underway as soon as any final processed data are received. Adjustments for the remaining 88 km of the existing survey may be made pending the results of the interpretation of the first five lines.
Seismic crews will be on a scheduled break until surveying resumes in the southern part of the license area in mid August 2011 when line BCE-11-2 will be acquired, weather permitting. In the interim period, road improvement work will be carried out to allow safer access into this area, a camp will be prepared to accommodate seismic crews, and access along logging roads will be cleared of trees blown down by a storm in 2010. Seismic crews will return to the northern part of the license area to continue surveying once BCE-11-2 has been recorded. Acquisition of this 14 km long line is anticipated to take two to three weeks, weather permitting.
NW Belize has also been active on many other administrative fronts: an interim General Manager has been named for the Project; two Belize entities have been incorporated, satisfying the ownership requirement for Belize concessions; bank accounts have been opened in Belize City to handle all local expenditures; and NW Belize is actively seeking office and residence accommodations in Belize City.
The phase 1 and phase 2 of the 2-D seismic data programme are fully funded. The directors are focussed on the rapid development of the Project, whilst incurring minimal costs. The Company's technical advisors have agreed to receive part of their fees in New World shares which suggests their confidence in the Project.
* * ENDS * *
For further information please visit www.nwoilgas.com or contact:
Enquiries:
William Kelleher
New World Oil and Gas Plc
Tel: +17134472171
+44 7901 502 053
Georges Sztyk
New World Oil and Gas Plc
Tel: +1514 961 2247
Peter Sztyk
Felicity Geidt
New World Oil and Gas Plc
Beaumont Cornish Limited
Tel: +19172157122
Tel: +44 (0) 20 7628 3396
Roland Cornish
Beaumont Cornish Limited
Tel: +44 (0) 20 7628 3396
Jerry Keen
Shore Capital
Tel: +44 (0) 20 7408 4090
Pascal Keane
Shore Capital
Tel: +44 (0) 20 7408 4090
Hugo de Salis
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Lottie Brocklehurst
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
dreamcatcher
- 14 Aug 2011 00:57
- 19 of 19
- Page:
- 1
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