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.

Well done on your 2 bagger heres to the next one sky.

Long way off its 40p valuation though

A wave of buying pushing this to 13p .

Thanks mitzy...looking good and staying in for the 40p+

Well done to all here , on an upward path now.

Yes well played all.. Just get that spread down Mitzy and we will all join you -):

Good old Shares magazine for tipping these last week.

I'm hoping for 15p next week.

Approaching nearly double their average 3 months volume at the moment.

Denmark RNS out.

UPDATE: New World Oil & Gas anticipates "tremendously exciting" remainder of year
3:57 pm by Giles Gwinnett Three drill ready prospects have now been identified at Blue Creek with a combined P50 volumetrics of 329 million barrels, which has an estimated value of US$8.1 billion, based on a 100 per cent working interest
--- Adds share price and broker comment----

New World Oil & Gas (LON:NEW) is anticipating a "tremendously exciting" remainder of 2012, as it unveiled interim results today.

The firm made "exceptional progress" in the period to June 30, it said, and is expecting to drill its first well as operator at the flagship Blue Creek project, Belize in the coming weeks.

"By mid November 2012 we will know whether or not we have made an oil discovery, and I look forward to updating shareholders on every step of our drilling process," said chairman Bill Kelleher.

"In Denmark we expect to drill up to two Triassic wells in Jutland within the next 12 months, and potentially commence drilling of the Als prospect in the Baltic Region.

"Although these goals seem ambitious, our rapid progress to date and the presence of one of the strongest oil and gas teams around increases my confidence in our success."

Three drill ready prospects have now been identified at Blue Creek with a combined P50 volumetrics of 329 million barrels, which has an estimated value of US$8.1 billion, based on a 100 per cent working interest.

Meanwhile, yesterday, the firm said a new independent report on its Danica Jutland project in south-west Denmark has led to an increase in the geological chance of success.

This moves from a one-in-eight to one-in-five for the Jelling and Harboe prospects, according to the latest competent persons report compiled by RPS Energy, which is based on some 56 kilometres of 2-D seismic work.

It also points to a 134 million barrels of oil equivalent resource worth US$1.22 billion, based on the Jelling, Harboe and Jensen prospects and assuming an 80 per cent working interest in Danica Jutland.

Drilling in Denmark is due to begin next year.

The firm posted a loss for the period of US$1.397 million, in line with our budget, as it currently has no revenues.

Shares were up 1.03 per cent, at 12.25 pence.

House broker Shore Capital said today's update followed yesterday’s positive update to the competent person's report (CPR) for Danica Jutland and marks the beginning of a particularly exciting period of activity for the company.

"Although New World remains in the exploration phase, it has progressively de-risked its projects and delivered key milestones in line with the planned timetable.

"We believe that drilling could inject further momentum into the share price, and continue to calculate risked net asset value of 40 pence a share."

Dreamcatcher 4th Goodwood 4.50.

Dreamcatcher is a huge breed of spider , so this horse should win with 8 legs. :-))

Thanks mitzy, should be first next time. lol

lol..
Drilling to start any day now..maybe in the next 24 hours.

New World chief says first well could be a "game changer"
12:27 pm by Ian Lyall Preparations are underway for drilling in Belize.
The pace of progress shows no sign of letting up at New World Oil & Gas (LON:NEW).

The past 15 months have been a whirlwind of corporate activity and exploration that means the group is days away from spudding its first well on the highly prospective Blue Creek project in Belize.

Success here could be a “game changer”, according to chief executive Bill Kelleher.

The first significant news emerged earlier this week – not from Belize, but Denmark - as independent study assigned an increased chance of success for its Danica Jutland project in the south-west of the country.

The updated competent person’s report, compiled by RPS Energy and based on the latest 56 kilometres of 2-D seismic work, put the figure at one-in-five for the Jelling and Harboe prospects, up from one-in-eight.

It also pointed to a 134 million barrels of oil equivalent resource worth US$1.22 billion, based on the Jelling, Harboe and Jensen prospects and assuming an 80 per cent working interest in Danica Jutland.

However the numbers still only include the three of 10 prospects or leads identified by New World.

From an investors’ perspective the Danica-Jutland update, important as it is, serves merely as the appetizer with the main course being that first exploration well on Blue Creek.

The total P50 resource here is 329 million barrels of oil equivalent with a net present value of over US$8.1 billion.

Work on the first prospect is expected to get underway late this month, or early next and it will take around 45 days to drill down to 7,000 feet.

New World will then compile and interpret the data that will decide whether this first Blue Creek prospect is completed for test production.

Kelleher said it will require three to four weeks of “sustained testing” in order to determine the reservoir performance and commercial viability of the well.

The information will also allow the New World chief executive and his team to put together a cumulative cashflow forecast that will determine the ultimate value of the well.

This could then pave the way for an extended well test and early oil production sales.

New World has already received “expressions of interest” in buying the crude at West Texas Intermediate prices, Kelleher reveals, which means the group could be generating cash from oil sales by early next year.

“If we have sustained production and meaningful volumes per day, this turns into a game changer for us,” said Kelleher.

The next step will be then to determine just how many more wells can go onto the block, and New World will also be conducting a 3D seismic programme.

At some point in the process – perhaps in late in the fourth quarter to early first quarter 2013 - the drilling rig will move over to the next location, West Gallon Jug.

The group has mitigated the costs of the drilling process by sealing an innovative deal with drilling contractor ThermaSource, which effectively halves the cost of its first three wells.

In return ThermaSource receives a 5 per cent stake in each of the wells, though at this stage only two have been permitted.

Hitting commercial oil will allow New World to consider some form of reserves-based lending, which will minimise the equity dilution.

It will also negate the need to give away a huge tranche of the project to bring in a partner to fund development – which traditionally might be the other option.

“We are looking at what our options are to limit dilution and with regard to debt financing. This is not outside our reach,” Kelleher said of the reserves-based funding.

Of course all of this overlooks the huge potential of Danica-Jutland.

This consists of two onshore licences covering just over one million acres of south-western Denmark that is prospective for oil and gas in the Zechstein carbonates and Triassic sandstone intervals.

Completion of the latest seismic programme earns the group a further 12.5 per cent working interest in D-J, taking New World’s holding to 25 per cent. It can take this figure to 80 per cent by drilling two wells.

The next phase is to shoot 3D seismic, before beginning drilling sometime in the second half of 2013.

“We won’t drill until we complete the 3D survey. There’s one, possibly two Triassic intervals where we have seen a seismic response to gas for which at this time we have selected drilling locations for,” said Kelleher.

For any company of New World’s size and ilk, funding is a key issue.

Broker Shore Capital reckons the group is fully funded to drill two wells in Belize following the £8.5 million share placing earlier this year.

In-the-money warrants also have the potential to yield proceeds of up to £8.7 million, it added.

“We are fully funded through the balance of this year for Belize and we fully paid for our seismic in Denmark,” Kelleher confirms.

The share price is up 150 per cent in the past year, reflecting the incredible progress it has made.

However, even this elevated valuation probably doesn’t (Kelleher might say definitely doesn’t) encapsulate the company’s true potential.

Shore Capital assesses New World’s “risked” net asset value to be 40 pence a share.

Analyst Craig Howie said: “Although New World remains in the exploration phase, it has progressively de-risked its projects and delivered key milestones in line with the planned timetable.

“We believe that drilling could inject renewed momentum into the share price.”

Spud.

Not right now Mitzy.. Lunch time perhaps -):

Lol Stan.

Into the first week of drilling.

fingers crossed.

Not the best of weeks..