Portofino Resort- Now with a new BEACH BAR!!
Topic Options
#445963 - 09/06/12 12:30 PM Oil rig Imported To Drill In Northwestern Belize
Marty Online   happy
A huge oil rig has landed in Belize - and is being transported in 60 containers to Blue Creek in Northwestern Belize where drilling is expected to start in October.

It is a concession area owned by Big Creek Energy, which has partnered with New World Oil and Gas for a major, multi-million dollar drilling venture.

It's particularly expensive because they have to drill about eight thousand feet down to find the oil field that they hope is there. They've already done seismic testing and now, it's drilling time.

We found out more today from Alistair King, the Managing Director of Blue Creek Energy and Ernesto Vasquez of the newly formed Belize Petroleum Association:

Ernesto Vasquez - Belize Petroleum Association
"They have finally concluded that we've found an area where we think that there is oil in the ground. And after they do that, of course, they have to report to Government, and say, 'Well, we want to go to the next phase.' And the next phase is to drill the hole and look for the oil. So, that's where we are now, and arriving Belize, as we speak, is the oil rig, which is a huge - it's a huge tower - and you've seen pictures of it, I'm sure - where they are going to drill this hole into the ground."

Alistair King - Blue Creek Exploration
"Well, this rig - as Ernesto mentioned - came in last night. We're in the middle of offloading in now, and transporting it up to Blue Creek. Now, that whole rig there, comprises of about 65 trailer loads. So, it'll take a little time to get it up to Blue Creek. So, as these trucks unload, we have some craines up there are offloading them. They'll start to be stacking this rig up, and building it as they offload. And we'll put it together, and we'll test it, get the fuel up there, and by October 1, we'll be ready to spud, which means that we'll be ready to actually start the drilling down. We know, Jules, from the last time, RSM drilled 2 wells in the neighborhood, not in our licensed area, but next door to it, and both wells had oil in them. So, we know that oil is coming from Mexico and Guatemala. It's migrating down, and that's where the Spanish Lookout oil is coming from. So, we know that it's passing under there, but we have to make sure that we find a trap, and the only way we can find where it's trapped, is to drill. This area that we in, Northwest Belize, is totally virgin area when it comes to oil exploration. There's no seismic done there before. The seismic that we have done is the first seismic to be done in that area, so - and of course - we're not too far from the Giant Mexican Fields, the Shaan Field in Guatemala, which is now being declared a 300 million barrel field, and we know that oil is migrating, as I say. So, we just want to find the trap."

According to King, up to this point blue creek and new world have spent 6 million us dollars. The plan is to drill five areas - and they are starting in the most likely one - which is also the least remote.

There are four oil rigs currently doing oil exploration countrywide.

Channel 7


Top
#449866 - 10/27/12 12:44 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

US$8.2 billion in oil at Blue Creek ?

New World Oil and Gas Plc / Index: AIM / Epic: NEW / Sector: Oil & Gas

25 October 2012

New World Oil and Gas Plc ('New World' or the 'Company')

Drilling Update, Belize

New World Oil and Gas Plc, an oil and gas exploration and development company focused on Belize and Denmark, is pleased to provide an update on drilling operations at the B Crest prospect on the Company's flagship Blue Creek Project ('Blue Creek' or 'the Project'), located in the productive Petén Basin in Northwest Belize. 

Drilling operations at the Blue Creek #2 well ('the Well') are continuing on schedule and under budget at an average rate of 24ft per hour.  As at 1300 CST in Belize on 24 October 2012, the Well had drilled to a depth of 4,509ft, having passed through anhydrite, dolomite and limestone sequences in line with the Company's geologic prognosis.  The primary objective of the Well lies at 5,700ft in the mid Cretaceous Y2 interval, 1,300ft below the current depth.  The Well remains on course to reach the total depth ('TD') of 7,000ft on or before 15 November 2012 where it expects to have reached the base of the mid Cretaceous Y2 interval. 

New World CEO William Kelleher said, "I am pleased to report that drilling operations at B Crest, the first of our three well programme at the Blue Creek Project, Belize, have so far been in line with our expectations and forecast geologic prognosis.  We are 1,300ft above our primary objective, being the Yalbac 2 formation, which we believe to contain multiple payzones for this well.  I will of course provide the market with further updates on our progress in due course."

The Blue Creek #2 well is part of the Company's three well drilling programme at Blue Creek, the details of which are included in the table below:

Drill Ready Prospects

P50 un-risked prospective resources

P50 NPV10

 

Expected Timetable

B Crest

92 MMbo

US$2.4 billion

H2 2012

West Gallon Jug Crest

113 MMbo

US$2.6 billion

H2 2012

A

124 MMbo

US$3.2 billion

H1 2013

Total

329MMbo

US$8.2 billion


Note: figures are stated on a gross 100% WI ('working interest') basis

The technical content of this announcement has been reviewed and approved by William Kelleher who has been a member of the Society of Petroleum Engineers for 27 years.

SOURCE


Top
#450578 - 11/08/12 01:31 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy
from friends.....

I am not so sure about the oil billions at Blue Creek. So I am not sure it can have any real affect on the Superbond situation.
I just did some checking and New World Oil & Gas still sits as a penny stock at the low end of it's 52 week trading range at .17 cents a share. With a market cap of $40 million. Right now the market does not think that there is billions worth of oil at Blue Creek.
I also hear from a usually reliable source that the oil production at Spanish Lookout is dropping like a stone. Maybe it's like half of it's peak right now.
So I hope they find some oil soon. They (GOB) need the money.

According to the New World chief in one of their paid news releases:

"New World CEO William Kelleher said, "Having reduced the geologic risk of our Belizean prospects by 60 percent through a successful multi stage seismic program and now commenced drilling, we will be in a position to judge whether we have made an oil discovery by mid November 2012."


Ok. well mid-November is in one week.
Let's hope it's a gusher....

=================
They have already reached the planned depth of 7,500 feet without any positive indications and so have decided to take it to 10,000 feet. This would mean that their expectations have not been reached at the planned horizon of 7500 feet. Peremco in an earlier well also expected to find huge oil and when they reached the dome, it turned out to all be water. They were hugely disappointed after being hugely expectant. This is why the majority of BNE's exploration ground was given to Peremco in the first place. The area which BNE currently has to explore is limited to a very small sliver at Spanish Lookout and Never Delay. Most of these areas they have unsuccessfully drilled already. You are correct about BNE's production falling like a rock, probably even faster, as they are now flooding back into the ground in the hope to float the oil, and also parallel drilling the few remaining productive wells.

=============

NEW OIL WELL DRILLING COMPANY PENNY STOCK, STUCK AT .17 CENTS RIGHT NOW. MARKET CAP OF $40 MILLION. More than one way, to make money off drilling for oil. You don't actually have to find oil to do so.

Top
#450582 - 11/08/12 01:47 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

The Blue Creek Project (pictured) is in productive Petén basin of north-west Belize. This first well remains ahead of schedule and in line with the company's geologic prognosis of the area, the group told investors.

New World Oil & Gas' Blue Creek project ahead of schedule and under budget

AIM-listed New World Oil and Gas (NEW) on Thursday revealed that its latest well on its Blue Creek prospect in northwest Belize was ahead of schedule and under budget.

Because the current programme is $750,000 (£469,000) under budget, New World has decided to use this opportunity to drill into the Y3 formation and the Hillbank intervals.

The company will test this area where it said there remains "considerable potential" for the existence of multiple productive horizons.

The company expects to reach the revised total depth for the Blue Creek 2 well of 10,450 feet, on or before 15 November.

Following completion of the drilling, New World will then evaluate the intervals which have oil shows on both the mud logs recorded while drilling, and the electric logs which will be recorded after drilling has been completed, to ascertain amongst other factors the oil and gas saturation levels, porosity and thickness of the reservoirs.

The company will then determine at what depth and which zones to commence well testing operations.

Capital Shore, which acts as broker to New World, commented: "We eagerly anticipate results from this well, which is targeting P50 (proved and probable) prospective resources of 92 million barrels, and continue to believe that the coming months will be an extremely exciting time for the company."

Investor reaction

The news made the stock the most actively bought by the users of Interactive Investor.

However, others took to the Interactive Investor discussion boards to raise concerns.

User 'Well Shaft' commented: "When they say 'where there remains considerable potential', I'm reading it as they are telling me we have found nothing worthwhile but there REMAINS a potential chance if we drill down deeper. If commercial oil had been found thus far then why go deeper?"

Source


New World Oil and Gas to drill deeper with Blue Creek #2 well in Belize

New World Oil and Gas (LON:NEW) has reported that ongoing drilling work on the Blue Creek #2 well in Belize is ahead of schedule.

The well is targeting the B Crest prospect on New World’s flagship Blue Creek Project in Belize’s productive Petén Basin. The company said the results so far were in line with its geologic prognosis.

New World said that because the current programme is US$750,000 under budget, it had decided to drill into the Y3 formation and the Hillbank intervals and test this area where there remains considerable potential for the existence of multiple productive horizons.

The company expects to reach the revised total depth of 10,450ft, on or before 15 November 2012. Following completion of the drilling, New World will then evaluate the intervals which have oil shows on both the mud logs recorded while drilling, and the electric logs which will be recorded after drilling has been completed, to ascertain amongst other factors the oil and gas saturation levels, porosity and thickness of the reservoirs. The company will then determine at what depth and which zones to commence well testing operations.

William Kelleher, the chief executive of New World, said: “The fact that we are well under budget and considerably ahead of schedule allows us to explore the Yalbac formation further, by drilling into the Y3 and Hillbank interval which produce oil in the nearby Never Delay Field. Once we have reached the new TD of 10,450ft, we will then conduct extensive testing enabling us to determine whether or not we have made a commercial discovery. I look forward to providing further updates to shareholders in the near future.”

Source


New World Belize well on schedule, under budget and set to test additional formations

New World Oil & Gas (LON:NEW) said its first Belize well is currently US$750,000 under budget, meaning it has the funds to test lower lying intervals for oil and gas.

Blue Creek 2 on the B Crest prospect remains on course to reach a revised total depth of 10,450 feet on or before November 15.

Following completion of the drilling, New World will evaluate the intervals that have oil shows on both the mud logs recorded while drilling, and the electric logs which will be compiled after drilling. This will help it determine oil and gas saturation levels, porosity and the thickness of the reservoirs.

New World will then assess at what depth and in which zones to commence well testing operations.

The tight budgetary controls mean group has the cash to drill down to the Y3 formation and the Hillbank intervals.

New World said there is “considerable potential for the existence of multiple productive horizons”.

Its Blue Creek Project is in productive Petén basin of north-west Belize. This first well remains ahead of schedule and in line with the company's geologic prognosis of the area, the group told investors. Chief executive Bill Kelleher added: "The fact that we are well under budget and considerably ahead of schedule allows us to explore the Yalbac formation further, by drilling into the Y3 and Hillbank interval which produce oil in the nearby Never Delay Field.

“Once we have reached the new total depth of 10,450ft, we will then conduct extensive testing enabling us to determine whether or not we have made a commercial discovery.

“I look forward to providing further updates to shareholders in the near future."

Source


Top
#451229 - 11/15/12 02:24 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

New World: Blue Creek Drill Finished by Mid-November

New World Oil and Gas announced Thursday that its Blue Creek No.2 well in Belize drilled to a depth of 9,282 feet on Wednesday and that it expects total depth of 10,450 feet to be reached by Nov 18. 2012.

The well is drilling on the onshore B Crest prospect on New World's flagship Blue Creek Project that is located on the productive Petén Basin in Northwest Belize. The drilling programme is on budget and in line with the company's geologic prognosis, it said.

New World reported last Thursday that the Blue Creek drill was ahead of schedule. The well is targeting un-risked P50 prospective resources of 92 million barrels of oil that are believed to be contained within B Crest.


New World Oil & Gas says first Belize well almost at target depth

New World Oil & Gas (LON:NEW) said its first well in Belize will reach its target depth of 10,450 feet by November 18 or sooner.

Blue Creek #2 is currently at 9,282 feet. Under budget, New World decided to test additional, lower-lying horizons for oil and gas.

Following completion of the drilling, the explorer will evaluate the intervals that have oil shows on both the mud logs recorded while drilling, and the electric logs which will be compiled after drilling.

This will help it determine oil and gas saturation levels, porosity and the thickness of the reservoirs.

New World will then assess at what depth and in which zones to commence well testing operations.

The tight budgetary controls mean group has the cash to drill down to the Y3 formation and the Hillbank intervals.

New World said there is “considerable potential for the existence of multiple productive horizons”.

Its Blue Creek Project is in productive Petén basin of north-west Belize.

SOURCE


Top
#451521 - 11/20/12 02:16 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

New World reaches final depth

Belize and Denmark-focused New World Oil & Gas (LON:NEW) has reached the final depth at its B Crest prospect.

The Blue Creek project is New World's flagship asset in Belize and plays host to the B Crest prospect. Growth Company Investor last reported that the well had drilled to a depth of 4,509 feet and was planning to soon hit the planned target depth of 7,000 feet with the source expected to lie at 5,700 feet.

However, the company took the decision at the beginning of November to extend the target depth of the well to 10,450 feet due to the project currently being under budget.

Today, the company has revealed a depth of 10,490 feet has been reached and that oil and gas shows have been present in mud logs recorded so far. However, before making any statements regarding the resource, New World has warned tha the next stage will be to run electric wireline logs in the well to further determine its characteristics.

It says only then will the company decide at what depth intervals to carry out further analysis to 'determine the way forward'. Further analysis is also still subject to the results collated from the open hole wireline logs.

New World chief executive William Kelleher defiantly confirmed 'the B Crest prospect is located in a working hydrocarbon system' although he additionally warned that 'there is still more work to be done.'

The share price rebounded 6.3 per cent this morning to 9.8p, valuing the company at £35 million.

New World boosted by Belize results
Oil and gas were both in evidence as New World Oil and Gas (NEW) reached its target depth of 10,490 feet at the Blue Creek 2 well, located on the Blue Creek Exploration Production Sharing Agreement in north-west Belize.

Shares in the firm were given a boost by the news and were trading up 5.9% on Tuesday.

The oil and gas exploration company said shows were present in mud logs recorded throughout the upper and middle Cretaceous intervals, including the Y1, Y2 and Y3 intervals of the Yalbac formation and the Hillbank formation.

The well is part of a three-well drilling programme at Blue Creek. An independent report compiled by RPS Energy assigned an unrisked proven and probable resource of 92 million barrels of oil to B Crest horizon.

The next stage, which is currently underway, is to run electric wireline logs in the well which will, among other things, measure certain rock formation characteristics and enable the company to calculate fluid saturation levels, porosity, and determine rock thicknesses.

Depending on the results of this exercise, New World will then decide at what depth intervals to carry out further evaluation which will assess the way forward.

Chief executive William Kelleher said, "We have confirmed that the B Crest prospect is located in a working hydrocarbon system. Encountering oil shows at all targeted intervals is encouraging but there is still more work to be done.

"Reviewing the results of the open-hole wireline logs is the next course of action. I look forward to providing further updates to shareholders as and when we have further information." Investor reaction

There was a positive reaction from some users on the Interactive Investor discussion boards, but others warned against over-enthusiasm, pressing the point that this was not a confirmed commercial discovery.

User 'I_Smell_Oil' commented: "I think it's a little too soon to be saying this well isn't a duster. Just because they have oil shows doesn't mean it's going to be a success."


Top
#451767 - 11/23/12 04:20 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

New World Oil and Gas report favorable results in Blue Creek

New World Oil and Gas operating in Blue Creek is reporting favorable results. It has achieved its target depth of 10,490 feet at the Blue Creek 2 well, located on the Blue Creek Exploration Production Sharing Agreement in north-west Belize. The oil and gas exploration company said evidence of oil was present in samples taken at various depths. The well is part of a three-well drilling program at Blue Creek. The company is currently running electric wireline logs in the well for better readings. Depending on the results of this exercise, New World will then decide at what depth intervals to carry out further evaluation which will assess the way forward. New World Oil and Gas has been doing exploration on the Blue Creek 2 well for the past two months.

PlusTV


Top
#452217 - 11/29/12 02:19 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

New World Oil and Gas reveals find in Belize
New World Oil and Gas, the exploration and development company focused on Belize and Denmark, has announced that following an analysis of recent open hole logging results and the conclusion of a petrophysical interpretation of the Y1, Y2, Y3 and Hill Bank formations at the B Crest prospect in Belize, live oil shows in the Y3 and Hill Bank reservoirs have been confirmed.

A decision has been made to drill a deviated well from the existing vertical well location to get up structure in the Y3 and Hill Bank formations to evaluate the trap potential in this part of the structure and to target additional potential oil accumulations.

This decision was taken with the approval of the Government of Belize.

New World CEO William Kelleher said: "I am extremely encouraged by the increased prospect of discovering a large accumulation on our B Crest prospect. Drilling results and log data so far confirm that we are in an active hydrocarbon system as evidenced by the logs and significant amounts of live oil observed at surface while drilling.

"The log results for the Hill Bank dolomite formation have indicated gross reservoir thickness of approximately 290 feet. By drilling a deviated well up structure from our current location toward a NE to SW bounding fault that images considerable vertical displacement on seismic in the Y3 and Hill Bank reservoirs, we expect an improved trap potential, obtain better log results and an increase in the gross reservoir thickness. This will be followed by well testing in the ordinary course of exploration operations."

New World buoyed by Belize oil finds
New World Oil and Gas (NEW) on Thursday confirmed live oil shows in the Y3 and Hill Bank reservoirs in Belize.

The announcement came after an analysis of recent open-hole logging results and the conclusion of a petrophysical interpretation of the Y1, Y2, Y3 and Hill Bank formations at the B Crest prospect.

A decision has now been made, with the approval of the government of Belize, to drill a deviated well from the existing vertical well location to get up structure in the Y3 and Hill Bank formations to evaluate the trap potential in this part of the structure and to target additional potential oil accumulations.

"Drilling results and log data so far confirm that we are in an active hydrocarbon system as evidenced by the logs and significant amounts of live oil observed at surface while drilling," stated chief executive William Kelleher. "The log results for the Hill Bank dolomite formation have indicated gross reservoir thickness of approximately 290 feet.

"By drilling a deviated well up structure from our current location toward a north-east to south-west bounding fault that images considerable vertical displacement on seismic in the Y3 and Hill Bank reservoirs, we expect an improved trap potential, obtain better log results and an increase in the gross reservoir thickness."

Analysts at FoxDavies echoed the view that the drilling results increased the possibility of discovering "a large accumulation" on the B Crest prospect. "Earlier, the B Crest prospect was estimated to hold gross P50 unrisked prospective resources of 92.1 million barrels (mmbbls) with three drill-ready prospects on the Blue Creek estimated to hold 329 mmbbl oil resources," they reminded investors.

New World also took the opportunity to announce that the Blue Creek 2 well, including the deviated well that will commence at 3,000 feet, would be drilled to a total measured depth of 11,800 feet, and was not expected to cost more than the sum of the total cost of the original Blue Creek 2 well.

New World Oil & Gas eyes bigger oil find
New World Oil & Gas rose after tests showed the increased prospect of a large discovery at its B Crest project in Belize.

The firm said live oil shows in the Y3 and Hill Bank reservoirs at the site had been confirmed.

A decision has now been made to drill a deviated well from the existing vertical well location to get up structure in the Y3 and Hill Bank formations to evaluate the trap potential and to target additional potential oil accumulations.

This decision was taken with the approval of the government of Belize, the company added.

Chief Executive William Kelleher said both the logs and significant amounts of live oil observed at the surface while drilling showed the firm was working on an active hydrocarbon system.

He added that with the new drilling plans he expected an improved trap potential, to obtain better log results, and to see an increase in the gross reservoir thickness.

The company's shares were up 2.8% at 09:15 following the announcement.


Top
#454895 - 01/10/13 12:48 PM Re: Oil rig Imported To Drill In Northwestern Belize [Re: Marty]
Marty Online   happy

New World Belize drilling "making steady progress"

New World Oil & Gas (LON:NEW) said the side-track of its keenly anticipated Belize well is making “steady progress”.

On Monday the drill-bit had reached a depth of 10,195 feet and is bearing down on the targeted 11,880 feet as it prepares to test the Hillbank and Y3, two oil bearing formations.

The company deviated the original well to locate what it believes is a “potentially significant trap”.

New World said drilling had been deliberately controlled to maintain a gauge wellbore diameter that will maximise log quality.

Chief executive Bill Kelleher added: "Drilling in Belize continues to make steady progress towards its objective thanks to the first class work of our operations team on the ground.

“We will soon be entering the targeted Y3 and Hill Bank formations where promising oil shows, along with the presence of live oil on the shakers, were observed while drilling the Blue Creek vertical well.”

In Denmark, where it holds two onshore licences that comprise the Danica Jutland Project, the company continues to make progress.

It is over half-way through completing a 75km 3D seismic survey in the Jensen Prospect on Licence 1/09, while it is in the final stages of interpreting 2D seismic shot on Licence 1/08.

Kelleher said: "This is an exciting time for New World on a number of fronts.

“Not only will we soon find out if the first of a fully funded multi-well, drilling campaign in Belize has made a commercial hydrocarbon discovery, but we will also have the results of our latest seismic work on our Danish licences, as we look to continue to de-risk the multiple prospects we have already identified to drill-ready status."

SOURCE

MORE... "Exciting" times ahead for New World Oil & Gas


Top

Links
Click for excellent scuba lessons with Elbert Greer!


Things to do

News
Daily News
Daily Weather

Classified Ads
BelizeNews.com
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Amandala
Love FM
The Reporter
Caye Caulker
Chronicles

PLUS TV
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
SanPedroScoop
iTravel Belize
Paradise Theater

Blogs
San Pedro Scoop!
Tia Chocolate
Tacogirl
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Bound for Belize
Conch Creative
As The Coconuts Drop
More Blogs...
Search thousands of Belizean-only websites
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Conch Shell Inn: All rooms are right on the beach in the heart of San Pedro, so within walking distance to anything and everything!!
Lil’ Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
Mini Chat

Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
December
S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31
Who's Online
2 registered (katzgar, 1 invisible), 33 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
18,672 Registered Members
44 Forums
64,021 Topics
462,206 Posts

Most users ever online: 1,262 @ 06/10/07 07:16 PM




AmbergrisCaye.com CayeCaulker.org HELP! Visitor Center Goods & Services San Pedro Town
BelizeSearch.com Message Board Lodging Diving Fishing Things to Do History
BelizeNews.com Maps Phonebook Belize Business Directory
BelizeCards.com SanPedroDaily.com Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.