New World Oil and Gas report that drilling of the Blue Creek #2 well ('the Well') at the B Crest prospect on its flagship Blue Creek Project ('Blue Creek' or 'the Project'), located in the productive Petén Basin in Northwest Belize, remains ahead of schedule and in line with the Company's geologic prognosis.

Additionally, the Company is pleased to announce that due to the current programme being US$750,000 under budget, New World has decided to use this opportunity to drill into the Y3 formation and the Hillbank intervals and test this area where there remains considerable potential for the existence of multiple productive horizons.

Tags: New World O&G