News blog

New World Oil & Gas

  • BY: Andrew Hore |
  • POSTED: 16/08/2011 |

New World Oil & Gas says that the report by RPS says that its potential licences in Denmark are an interesting exploration play.

New World has signed a non-binding letter of intent with Danica Jutland allowing the Aim company to undertake due diligence on two oil concessions in the Jutland onshore area of south western Denmark. New World can earn up to a 80% working interest in the project through investment in seismic data. The first phase will be completed by May 2012.

Seismic data is already being processed on New World’s Belize assets. New World is on course to choose two potential drilling prospects by the end of the first quarter of 2012.

At 5.75p a share, New World is valued at £7.37m.

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