New World O & G listed on AIM in May 2011 and is at a very dynamic stage in its development, with several areas of value enhancement in progress through the next 12 months.
They have licences on 2 blocks (Blue Creek & Gallon Jug) in north western Belize, in the Peten Basin which has reserves of >70Bbo, and 3 blocks in Denmark on the North Permian Basin.
The first 2 of 5 identified prospects on their acreage in Belize will be drilled, starting at the end of Q2/12, targeting 294mmbo recoverable (P50). Independent CPR gives a 21% COS.
The 5 prospects have been reported with potentially between 800mm - 1Bbo P50 recoverables.
Further seismic surveys have been in progress which seem likely to increase the potential, as well as confidence in the acreage.
A revised CPR is expected by the end of April 2012 with spudding of the first well end Q2/early Q3.
Completion of 2 wells, by Q1/13 will result in 100% WI.
New World have also farmed in to 3 licence blocks (1/09, 2/09 in Denmark which are to be subject to additional seismic survey in the near future and follow their standard model of earning in towards 100% WI on the basis of seismic & then drill progress.
A strong bargaining position has been established with the fund-raising announced on 8th March which enables the company to drill at least the first prospect, B Crest, without a partner. Farm-in partnership is expected on the right terms as they tackle the Belize prospects, currently given a gross combined P50 NPV(10) of US$7.1 billion.
A series of CPRs are available on the company website nwoilgas.com
Senior management have strong O & G E&P credentials with cvs containing VOG, Yukos, Chevron & Occidental.
The company have stated they intend to keep dilution to a minimum.
William Kelleher has said that the company try to answer every email they recieve.
there is an aditional thread that has broker note and presentations
I hold these shares.
SUGGESTED NEWSFLOW for 2012
Below is a breakdown of The Forecast of Newsflow for 2012 - sourced from the New World Oil and Gas Presentation at the MiningMaven Investor Evening (14/12/11).
Blue Creek Project, Belize
- Completion Phase 3 seismic FEB 2012
- Phase 3/4 CPR update, with +10%WI APR/MAY 2012
- Mobilisation of base camp operations MAY 2012
- Commence drilling operations (1st well) Q2/Q3 2012
- Drilling results (1st Well)+ 32.5%WI Q3/Q4 2012
- Commence drilling operations (2nd Well) Q4 2012
- Results of 2nd well + remaining 32.5%WI Q1 2113
Danica Jutland Project, Denmark
- Completion of permitting (Q1 2012)
- Commence Phase 1 seismic (Q1 2012)
- Completion of Phase 1 seismic (May 2012)
- Update of CPR (May 2012)
Potential Additional Acquisitions
- Continuing to update our "Pipeline of Projects"