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.

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 -):

If it did come right the sp could go from the present level to above 30p......it could....

All buys today..

I'm guessing tomorrow.

RNS last week was obviously leaked an hour or so before the close. If a further RNS tomorrow then NEW certainly is a very leaky organisation but will be interesting to see what the RNS says (if issued). Can't think for a moment there will be any declaration of a commercial find, but an announcement of discovered oil intervals will have a bit of impact on the share price that's for sure.

They will have oil shows announce testing of the well doubt any confirmation of a commercial find but I'm hoping they have something special in the rns.

No news so far.

RNS out..

Strange they didn't just wait until monday to update, by which time the TD would have been reached. (sunday)
2517

Its a mystery George.

Maybe its to do with the 8/11 RNS stating that TD on or before 15/11, if it'd got to 4.30 on Friday afternoon and no update imagine the chatter over the weekend..