New World Progressing in Denmark and Belize
Denmark and Belize-focused junior New World Oil and Gas reported Tuesday that it had made progress at both its Danica Resources Project in southern Denmark and its Blue Creek operation in Belize.
New World said that it had received a positive update to the Competent Person's Report produced by RPS Energy for its Danica Resources Project in the western Baltic region of the South Permian Basin in southern Denmark. Four new leads have been identified and New World now plans to acquire additional 2D seismic data along with 3D seismic data on Falster and Lolland islands over the Zechstein Zn-2, Zn-3 and Zn-4 leads, which were targeted by several of the latest 2D lines.
The firm said that seismic data confirms the western bounding fault for the Als prospect and volumetric estimates remain as detailed a previous document issued last July. At Zechstein, there are prospective resources of between 40 and 192 million barrels of oil (on a P90 to P10 basis), while at Rotliegendes prospective resources are estimated at between 575 and 3,380 billion cubic feet of gas.
New World added that both intervals on the Als prospect can be targeted from an onshore location and that they are "drill ready". In all, a total of 28 leads and one prospect have now been identified on New World's Danish license.
"This first phase of seismic has confirmed the original highly attractive volumetric estimates and associated indicative economics for the drill ready Als prospect. At the same time, we have acquired high quality data for this highly prospective Baltic Licence," New World CEO William Kelleher said in a company statement.
"We will continue to de-risk the multiple leads and prospects identified, with an additional 38.5-kilometer seismic survey planned for early February 2013 on Falster and Lolland Islands. This next phase will specifically target the Zechstein leads identified from the first phase of seismic as well as improving the probability of success in the Triassic."
Meanwhile, in a separate statement, New World said its Blue Creek No.2A side track well, onshore Belize, had drilled to a measured depth of 11,490 feet, some 400 feet short of the planned total depth for the well. The company is taking longer than originally anticipated here due to a halting in drilling operations whenever sections of interest in the targeted Hillbank and Y3 formations have been encountered so that core samples can be taken.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ITEM Club: More Jobs Losses Expected in NE Scotland due to Oil Slump
- Shell Q&A: What Makes an Ideal Employer in Oil, Gas?
- Shell Takes First Place in Rigzone's Inaugural Ideal Employer Survey
- UK Government 'Must Recommit' to Oil, Gas Sector in Autumn Statement
- UK Government Gives Go-Ahead for Fracking in NW England
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension