Great Debate - Gold Medal
Achieved 25 Replies • Sat 4th Feb 2012
In reply to MrNachos, post #3
Mr Nachos these figure will need to be revised once the placing has been completed .the placing will have us funded to drill both A & B crest in belize and two drills in denmark .with the amount of intrest being show by the insitutions this can only bode well for the future.this is still under the radar to the extent that i started this thread today
Its ace; only problem is, the venerable moderator can't spell lol
Hiya Ricky and Steve.
Fancy meeting you two here. Lol
uni- he told me he can spell, but his fingers are to big for key board !!
Interesting small cap but do investors really expect them to find 300 million barrels of oil when the discoveries to now have been less than 30 million.
In reply to viper, post #8
Viper well the CPR has been produced by RPS energy and it is only on 2 of 5 targets in belize.they are doing the third phase of the schedualed sizmics there ( 2D ) and once there complete and the last of the sizmics are processed they will update the CPR to maybe 25% COS. and a higher amount of P50its true the biggest find so far is spanish look out but there have been numerous oil finds from as far back as the 1950z
see the link belowhttp://www.belizeoil.com/BOSM/Petroleum%20Sector%20Of%20Belize/exploratory%20wells%20in%20belize.pdf
Hiya cps. Teeth done, I understand! lol
My understanding is that his brain works faster than his fingers on a normal qwerty keyboard, but you're right about when he tries to email or text from his blackberry lol Also, he's dyslexic, like so many highly intelligent people lol... He'll like that one! Now, how do you spell teh word teh? lol
Remember, one of the reasons little o and g has been found historically is because of the fact that modern seismological techniques were unavailable and they relied on gravimetric analysis. Now we can look from space etc etc, so we should be more successful. Also, oil was $10 a barrel, and what was uneconomic then is not necessarily so now. Even Caza is recovering now on a few hundred barrels!
I've just thought of a name for this new "thread"...why don't we call it "Dross floss"? Oh, never mind then; suit yourselves!
A history of oil in Belize..
The company initially interpreted the first phase seismic to indicate 4 prospects of 20-30mmbo, so of similar size to Spanish Lookout and easily believable. According to the company, further seismic concentrated on these prospects and they were surprised by the increase in size of the prospects. Independent advice was taken and this confirmed the conclusions. Until recently, the commentaries have mentioned the lack of good seismic data for most of the country. If these new prospect sizes do prove to be correct, it will change the country's fortunes. They are running a third series of seismic acquisition for more precision prior to drilling.
Thee is no mention of New World in my link will they drill in 2013.
They have taken over the licences from Blue Creek, who are mentioned.
They are close to site establishment phase for the first well (May 2012?) with drilling Q3.
Hi Viper here is a schedule of near term news flow that has been pieced together from presentations and new releasesBlue Creek Project, Belize - Completion Phase 3 seismic (FEB 2012)- Phase 3 CPR update (MARCH 2012)- Mobilisation of base camp operations (H1 2012)- Commence drilling operations (H2 2012 - 1st Well)- Drilling results by end of 2012 (1st Well)- Commence drilling operations (H1 2013 - 2nd Well)Danica Jutland Project, Denmark- Completion of permitting (Q1 2012)- Commence Phase 1 seismic (Q1 2012)- Completion of Phase 1 seismic (May 2012)- Update of CPR (May 2012)Mr D
This is going to become the premier meeting place for important historical information about NEW WORLD GAS AND OIL. I'm certain it will become the preferred archive, to which serious investors will turn when looking for pertinent and up to date news on the stock's progress.
I had a look at the presentation (14/12/2011) on this link & feel it is a good way to bring people up to speed "from the horses mouth".http://www.stockopedia.com/clicks/?url=http://www.youtube.com/watch?v=0Jf2fbuWKW8&list=UUxucdc4gP1K0W4k5MYRadUA&index=1&feature=plcp
It doesn't cover latest acquisition in Denmark though.
I am still having a problem with the cpr and 294mbo it doesnot make sense to me maybe they will find 60 mbo at the most which would be a significant find but I would expect the phase 3 CPR will make it more clear.
well all i can say is RPS Energy have done the calculations independantly with information that has been suppliedits there reputation that is on the line and there a very experanced global companyin my experance they would have used an air of caution with there projections so im expecting a very nice upgrade in march / april when its revised .because the 294mmbls is only covering the P50 on A & B Crest but then i am a very large holder here for the long term so i am a believer in the whole story be it South America or Europe
So far better than the threads on other sites I have visited
Would be nice if we could persuade some of the premier researchers like euclid and miracle boy to post here regularly, Mr D?
Various oil companies have acquired nearly 10,000 kilometres of 2D seismic lines in Belize over the last several decades (Figure 10). The data quality of the seismic lines has varied from poor to good (Figure 11). According to Rao (1983), The majority of wells drilled within the Corozal basin have been delineated on the basis of gravity data or poor seismic data. So it is possible that wells were not located on the highest part of the structures. It is believed that poor seismic recordings are caused by near surface karst
structures that are prevalent in the area. These cave-like voids result in seismic interference, which leads to poor signal-to-noise and the lack of continuity of events. Recent ground-penetrating radar surveys have easily detected such features and may provide a means of establishing a better layout of seismic lines at a negligible cost.
Figure 12a shows the location of an eight-kilometre 2D seismic line (Figure 12b), shot by Vaalco Energy Inc. in the western part of the Corozal Basin. The section confirms the presence of a major thrusted fault block of Paleozoic age, similar to the structural configuration of the North Peten Basin of Guatemala in which commercial oil production has been established. Subtle draping of the Yalbac formation overlies the structure, followed by a flat, uninterrupted layering of Cretaceous age sediments. A potential well location has been identified penetrating the central portion of this feature (Geology and
Petroleum Office, 1995).
Two possible play types in the Corozal Basin are structural closures bounded by faults and pinchouts (Figure 13). The play concepts as presented indicate normal faulting downthrown to the south-east, creating potential trapping mechanisms for the northwest dipping Mesozoic sediments. Exploration companies have mapped approximately twenty faulted anticlinal structures in this basin (Geology and Petroleum Office, 1995). The two most likely formations with reservoir/seal potential are considered to be the Yalbac and Hillbank formations. Both formations have notable oil shows. Drilling to deeper Paleozoic rock however is another potential target. In Central America, the
Paleozoic and Pre-Cambrian formations have been rather neglected owing to the greater importance of the younger oil producing formations (Dixon, 1956).