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  • Blue Creek Project Extension

    Încărcat de

    Rajesh Barkur
    47 vizualizări4 pagini
    The Blue Creek Project consists of two onshore oil blocks in Belize covering 315 square kilometers. New World Oil and Gas operates the project with 100% interest under a production sharing agreement. The project involves an appraisal drilling program targeting several prospects identified by previous seismic work. In 2012, the first well was drilled but found to be non-commercial, however it encountered oil shows leading to a sidetrack well being drilled. New World Oil and Gas recently negotiated a 12-month extension to the production sharing agreement, which was set to expire in October 2015 and will now expire in October 2016.

    Descriere originală:

    Blue Creek Project - Blue Creek & West Gallon Jug Blocks - Belize, South America

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    Blue Creek Project - Blue Creek & West Gallon Jug Blocks - Belize, South America

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    The Blue Creek Project consists of two onshore oil blocks in Belize covering 315 square kilometers. New World Oil and Gas operates the project with 100% interest under a production sharing agreement. The project involves an appraisal drilling program targeting several prospects identified by previous seismic work. In 2012, the first well was drilled but found to be non-commercial, however it encountered oil shows leading to a sidetrack well being drilled. New World Oil and Gas recently negotiated a 12-month extension to the production sharing agreement, which was set to expire in October 2015 and will now expire in October 2016.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    47 vizualizări4 pagini

    Blue Creek Project Extension

    Încărcat de

    Rajesh Barkur
    The Blue Creek Project consists of two onshore oil blocks in Belize covering 315 square kilometers. New World Oil and Gas operates the project with 100% interest under a production sharing agreement. The project involves an appraisal drilling program targeting several prospects identified by previous seismic work. In 2012, the first well was drilled but found to be non-commercial, however it encountered oil shows leading to a sidetrack well being drilled. New World Oil and Gas recently negotiated a 12-month extension to the production sharing agreement, which was set to expire in October 2015 and will now expire in October 2016.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 4

    5/20/2016 ProjectsOGPTracker>

    BlueCreekProjectBlueCreek&WestGallonJugBlocksBelize,SouthAmerica

    NewWorldOilandGasnegotiates12monthextensiontoBlueCreekPSA

    ProjectProfile
    Value:unknown
    Location:NEGuatemalaandadjacentMexico,NWBelize
    Area:315sqkm
    Reserves:329MMbo(estimated)
    Production:Unknown
    Depth:10,490ft
    StartupYear:2012

    TheBlueCreekProjectconsistsofone315sqkmonshoreoilconcessiondividedintotwoblockslocatedinNWBelize.Thetwoblocks,BlueCreekandWestGallonJug,
    aregrantedunderaProductionSharingagreementwiththegovernmentofBelize.TheconcessionliesinthehydrocarbonproducingPetnBasinthatextendsacross
    northernGuatemalaintonorthernBelizeandsoutheastMexico.Within34daysoflisting,NewWorldOilandGascompletedaFarmOutAgreement('FOA')toacquireup
    toa100%participatinginterestintheProductionSharingAgreement('PSA')withtheBelizeangovernmentovertheBlueCreekProject,subjecttothecompletionofa
    stagedworkinprogramme.Theprogrammeconsistsofafourphase2Dseismicacquisitionprogrammeandthecompletionofthreeexplorationwells.TheCompanys
    partner,BlueCreekExplorationLtd,willreverttoa5%overridingroyaltyinterestuponNewWorldhavingearnedthefull100%participatinginterest.Thewesternedgeof
    theBlueCreekProjectisadjacenttoa20,000ftdeepsubbasininNEGuatemalaandadjacentMexico.

    2012sawthecommencementofadrillingprogrammeinBelize.Thefirstwell,BlueCreek#2,commenceddrillingattheendofSeptember2012ontheBCrestProspect
    thathadbeenassignedaP50resourceestimateof329MMbobyRPS.Becauseofthereductionindrillingcosts,andhavingnotseenclearevidenceofoilaccumulatingin
    theY1andY2formations,thedecisionwastakentodrilldeepertotheY3andHillBankFormations.Liveoilshowswerealsoencounteredinthesedeeperformationsand
    awellwasdrilledtoadepthof10,490ft.Duetoahighlevelofwatersaturationintheselowerformations,BlueCreek#2wasdeemedtobenoncommercial,butasa
    resultoftheencouragingshows,adecisionwastakentodrillasidetrackwell,theBlueCreek#2AST,toplacethebottomholelocationofthewellupdiptotheoriginal
    plannedbottomholelocationinanefforttolocateatrap.

    Operators:

    NewWorldOilandGas:Operatorwith100%interest

    Contractors:
    ProjectInformation

    Oct30,2015

    Following a meeting with the Minister of Energy in Belize, New World Oil and Gas has negotiated a 12 month extension to its Production SharingAgreement
    (PSA) for the Group\'s Blue Creek Project in Belize. The PSA which was previously due to expire on 31 October 2015 will now terminate on 31 October 2016.
    While the expiry date of the PSA is extended, the approval restricts the Group\'s future activity to areas highgraded by New World Oil and Gas (Belize
    Operations) Ltd. (the PSA holder and a subsidiary of the Company) in its extension application and areas identified as viable drilling targets by the seismic
    programme conducted in 20122013 namely theA and C Prospects.

    http://app.projectsogp.com/viewcomplete.php?id=6095 1/4
    5/20/2016 ProjectsOGPTracker>

    Projectclassification
    Commence date: 2012

    STATUS: CATEGORY: ON/OFFSHORE:

    UPSTREAM APPRAISAL EXPLORATION DRILLING ONSHORE OFFSHORE

    Projectoperators

    NewWorldOilandGas
    Ogier House, The Esplanade
    St. Helier
    Jersey
    Channel Islands JE4 9WG

    CONTACT

    Web:http://www.nwoilgas.com/

    http://app.projectsogp.com/viewcomplete.php?id=6095 2/4
    5/20/2016 ProjectsOGPTracker>

    Projectmaincontractors
    Nomaincontractorslisted

    Projectsubcontractors
    Nosubcontractorslisted

    http://app.projectsogp.com/viewcomplete.php?id=6095 3/4
    5/20/2016 ProjectsOGPTracker>

    Projectnotes

    http://app.projectsogp.com/viewcomplete.php?id=6095 4/4

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