Oil explorer drilling in Central America.. Belize .




Floated in the Summer on the AIM.
http://www.nwoilgas.com/

Valued at �5mill that includes � 3 mill cash...4.75p to buy..I hold.

Read it again

There is no mention of oil shows in Y1 and Y2 the primary drill targets they are drilling further down to Y 3 where they expect to find oil shows.

Have they found oil to date and is it commercial.

The thing that makes this company so interesting is that this is their first well .....with productive wells very closeby....two more at least after this and also another campaign in Denmark early next year....so there is considerable upside even if the first one is a duster...

going down.,.

Can you imagine if there were oil shows the sp would be 14p by now.

imagination doesn't help the bank balance only fact.,.

We will find out whether they have anything around the 16th.

The sp cannot reflect the operations that are going on out there.....we just have to wait.....two more wells to come at least plus Denmark....along with FOGL...these are two shares that could fly with oil discoveries....

You're probably right mitzy, I have re-read the rns a few times and it could be considered they have oil or they don't have oil. I am tending to think the only reason they are going deeper is to try and find something.

The last 2 RNS have been vague we still dont know if they have found commercial oil.

Another week to find out.

There are producing wells just a hopping distance away but the fact remains that we have another two wells to go after this....hit and miss with the oil industry...

I believe they will be 11p next week rf.

Holding RNS just out.

Hefty percentage by Axa...33 million shares...boy oh boy...!.....

10% of the company rf they are confident.,

They probably found 6 mbo in the Y1 and Y2 drilling into Y3 and hoping to find another 6mbo.

12mbo could be considered a commercial find.

The area where they are drilling seems to have oil all over the place ; there is a map on their website with oil migration paths and such.....but it is hit and miss...the good thing is that there are producing wells not far away....so fingers crossed for a good result...otherwise it's having to wait for the next spud...(I will not be selling even if the first one is a duster)....big boys on board (who know a lot more than we do) cannot be a bad thing either...the not so encouraging thing is that apart from the exception of the now bought out "Emerald Energy" (EEN) : I have never ever been able to make a profit on the South American oilies (excluding the Falklands)....never....perhaps this being in Central America might make a difference...

"I have never ever been able to make a profit on the South American oilies (excluding the Falklands)....never....perhaps this being in Central America might make a difference..." Well with that track record RF I shall continue to keep this fence warm -):

Good luck all.

Well yes...Central America is not South America...

Not far off though -):