1st Oct 2013 07:18
LONDON (Alliance News) - New World Oil and Gas PLC said Tuesday that had secured an eight-month extension in work programme commitment deadlines for License 1/08 at its Danica Resources Project in Southern Denmark.
The extension was approved by the Danish Energy Agency, and as apart of the extension, New World has committed to a geochemical survey to high grade its existing prospect inventory to determine the best possible candidate for a 3-D seismic survey before it commits to drill.
The extra eight months will allow New World to continue on-going discussions with potential farm-in partners, the company said.
Shares in the company were trading up 4% at 1.04 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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