Register
Login:
Share:
Email Facebook Twitter

Tower CEO gives give operational update on Njonji development well Watch Here

Exclusive: InfraStrata CEO confirms 6 parties interested in offtake agreements
Tower CEO gives give operational update on Njonji development well


Alliance News


New World Confirms Termination Date For Belize Production Agreement

Tue, 6th Oct 2015 09:41


LONDON (Alliance News) - New World Oil and Gas PLC Tuesday said the termination date of the Blue Creek production sharing agreement with the Belize government will be October 31.

The company had previously reported that the agreement, which is in respect of its Blue Creek project in Belize, would terminate on October 12 unless an additional well was spudded before that time or unless it was extended by agreement with the Belize government.

On Tuesday, New World said that the actual termination date will be October 31.

New World added that it will be discussing options on continuing its participation in the licence during the course of this week with the Belize government.

It also confirmed that it is continuing to negotiate and discuss with potential partners participation in the drilling of a well on a drillable prospect at Blue Creek before the deadline to spud a well.

"It should be noted that there is no certainty that the Blue Creek PSA will be retained. In the event that it does lapse, then New World will cease to have any trading businesses and so will be treated as an investing company under AIM Rule 15," the company said in a statement.

Shares in New World were trading down 0.9% at 0.0694 pence Tuesday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.

Alliance News



Back to Alliance News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.