Petén Basin


New World Oil and Belize

New World Oil & Gas announced Tuesday that it has raised approximately $14 million to fund drilling in Belize and a 3D seismic program in Denmark. The junior oil firm raised the money on London’s Alternative Investment Market, where its stock is traded. New World, whose only assets are in Belize and Denmark, is focused on onshore projects in the two countries. The company said that the proceeds from a placing of 95.6 million new shares in the business would be used to fund the drilling of a third well at its Blue Creek Project in the Petén Basin in […]


About All Energy Corp. / Princess Petroleum Belize Joint Venture 1

Major oil discoveries have been made within the Yucatan area. Much of the geology of Belize, especially in the northern half of the country, is a southward extension of the geology of the Yucatan. Petroleum deposits in south-eastern Mexico and Guatemala occur in two main geologic provinces, the Gulf Coast Tertiary basin area and the Petén Basin. Major oil production is from intensely micro-fractured Paleocene, Cretaceous, and Jurassic carbonate reservoirs. Several small oil fields have been discovered in Cretaceous carbonate reservoirs in west-central Guatemala, and one major discovery has been reported in north-western Guatemala. Small-to medium-sized oil accumulations also occur […]