New World spies Danish leads

In sight: Danish prospects for New World

SXC.HU

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Steve Marshall

 22 January 2013 09:14 GMT

New World Oil & Gas aims to shoot fresh seismic next month across a southern Denmark play to firm up leads for possible drilling after gaining confirmation of the underexplored area’s resource potential.

Recent 2D seismic data acquired by the UK-listed explorer on the 1/08 licence in the South Permian basin has confirmed earlier proven and probable resource estimates for the Als prospect of up 97 million barrels of oil in the Zechstein interval and 1.4 trillion cubic feet of gas in the Rotliegendes interval.

A total of 28 leads and one prospect have now been identified at the so-called Danica Resources project on the western Baltic licence, in which New World has gained a 12.5% stake.

“This first phase of seismic has confirmed the original highly attractive volumetric estimates and associated indicative economics for…

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