New World eyes new Blue Creek horizon

Probe: drilling work in Belize

Treaty Energy

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Steve Marshall

 04 March 2013 10:07 GMT

New World Oil & Gas has kicked off drilling of a new prospect in Belize in the hope of making a commercial discovery at its Blue Creek project.

The London-listed explorer is using a land rig from Therma Source International to drill the probe at the West Gallon Jug prospect targeting unrisked proven and probable resources of 113 million barrels of oil.

The well will be drilled to a total depth of 8800 feet into the Upper Jurassic Margaret Creek formation, with drilling results expected by 1 May.

The prospect is located about 35 kilometres south-west of the B Crest structure, where New World recently failed to find moveable hydrocarbons.

However, the company data from two wells drilled at B Crest has…

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