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.

Update in Jutland confirms what they said in the past.

Rumours Treaty oil have discovered commercial oil in Belize on the first drill.

Declared a non show.

RNS out raising $35 mill in February in placing with Institutions to start drilling..

share price off 10%.

Share price fell another 5% today .

hope this is the low.

should be (imho)...may go a little lower but focus should will go back to the next RNSs with good updates to come

Tipped in Shares mag today.

.. Oh gaud it hasn't has it Mitzy? Thats put the kybosh on it then -):

lol Stan.

Nice bounce today.

Hoping for great things from NEW over the 12 months...I'm holding on for the time being!

Same here gl.

Wave of late buying today.

New World Oil and Gas Plc, a company focused on making investments in the oil and gas sector, is pleased to announce that further to signing a Letter of Intent on 23 December 2011, it has completed a Farm-Out Agreement ('FOA') with Danica Resources ApS, to acquire an initial 12.5% but up to an 80% working interest in the highly prospective 6,420 sq km Licence 1/08 ('the Licence') which includes both onshore and offshore acreage in Southern Denmark in the productive Western Baltic region of the South Permian Basin. Under the terms of the FOA, New World will assume operatorship of the Licence.

On 25 January 2012, the Company announced the highly positive results of a Competent Persons Report ('CPR') carried out by RPS Energy on the concession, that indicated, inter alia, that the already identified Als Prospect has P50 resources of 97 million barrels of oil and 1.401 TCF of gas with a Net Present Value ('NPV10') of US$2.44 billion, underpinning the prospectivity of the Licence.

New World will be named Operator of the Project by means of an addendum to the existing Joint Operating Agreement ('JOA') between the current operator, Danica Resources ApS (80% working interest) and its single partner, Danish North Sea Fund, that holds the remaining 20% working interest. The first phase of a planned 150km 2-D seismic acquisition programme on the Licence is due to commence in Q2 2012 at an estimated cost of US$1.4 million net to the Company's interest and will deliver an initial 12.5% working interest to New World. New World has the option to increase this to 80% at its discretion based upon the following provisions.
Key provisions of the above agreements:

· Permitting, acquisition, processing and interpretation of 150km of 2-D seismic to be completed by the end of the third quarter of 2012. This will deliver the initial 12.5% working interest in the Licence to the Company, and at this point the licence holders must decide whether to drill a well based upon existing seismic data or acquire additional seismic data.

· Permitting, acquisition, processing and interpretation of 2-D and/or 3-D seismic by 30 March 2013 to properly delineate drillable prospects, in return for which New World will receive a further 12.5% working interest. Survey design(s) are to be agreed by 30 September 2013. If no further seismic is deemed necessary the 12.5% would be transferred to New World immediately.

· Provided a drillable prospect has been identified, one well to be drilled by the end of the third quarter 2014, in return for which New World would receive the remaining 55% working interest.

· If and when New World has assumed Danica Resources ApS's 80% working interest, Danica Resources ApS shall remain entitled to a 5% overriding royalty from any production of hydrocarbons. In addition, a further staged cash and share payment of $500,000 has been agreed between New World and Danica Resources ApS.

· Provided a drillable seismic-based prospect has been identified, New World has the option to drill an additional well to the base of the Zechstein and/or Rotliegend, as mutually agreed, by no later than 30 September 2015.

New World CEO William Kelleher said, "We are delighted to announce the completion of the transaction documents for the Danica Resources Project which adds a third project to our growing portfolio of highly prospective assets that includes our most advanced Blue Creek Project in Belize, with its combined P50 resource estimate of 294MMbbl and Estimated Monetary Value of US$1.53 billion. This exciting addition increases our exposure to the productive South Permian Basin in Denmark to 10,507 sq km and includes the Als Prospect which, on its own, has a P50 resource of 97 MMbbls of oil and 1.401 TCF of gas.

"The Als Prospect provides an enticing indication of the huge potential of the Danica Resources Project and, as a result, we are eager to explore the area further in the expectation of identifying additional sizeable prospects. With this in mind, we look forward to commencing our seismic acquisition programme shortly and will update the market on our progress in due course."

Further Information:

New World signed a non-binding LOI with Danica Resources ApS granting the Company a 90-day exclusivity period in which to undertake due diligence on the Danica Resources Project in Denmark on 23 December 2011.

Danica Resources ApS is a Danish company formed for the purpose of obtaining and exploring the southern fringe of the Northern Permian Basin covered by licence 1/08 that covers an area of 1.586 million acres (~6,420km2). Danica Resources ApS has been studying the area for some time and has developed a geological model and a number of leads based on available seismic data, an extensive surface soil geochemical survey, some well data and a number of academic papers.

Danica Resources ApS has an 80% working interest in the Licence with a single partner, Danish North Sea Fund, who holds the remaining 20% working interest. Subject to New World fulfilling its obligations under the FOA, the Company will have the right to acquire the entire 80% working interest held by Danica Resources ApS, subject to the approval of the Danish government and Danish North Sea Fund.

The Licence was granted to Danica Resources ApS and the Danish North Sea Fund in March 2008 with a 6-year exploration period, with provisions for extension. A 6-month extension was granted in March 2012.

The minimum work programme required by the Danish government is as follows:

· Years 1 and 2 - Collate available data, conduct geochemical soil-survey and create geological model using available seismic and literature references. This phase has been successfully completed

· Years 3 and 4 - Acquire 2-D to better delineate certain leads (both in the Zechstein and Rotliegendes intervals, followed by a 2-D or 3-D survey over selected leads. At the end of Year 4, the licence holders must decide whether to drill a well based upon existing seismic data or acquire additional seismic data.

· Years 5 and 6 - A well must be drilled by the end of year six

That explains Mondays rise.

That explains Mondays rise.

Some decent buys today.

Bit of life here.

Tipped in shares mag today.