Newton Energy Corporation is focusing its activities on the Belvoir prospect as a core asset.

Belvoir Prospect

The Company believes that its efforts in its UK East Midlands licenses have produced the prospect of a core asset in Belvoir. The company has recently completed a re-interpretation of Belvoir and has derived an internal estimate of mean reserves which could potentially increase the existing 2 million barrels recoverable in accordance with its current reserve report . The Company recently exhibited the Belvoir prospect at the Prospect Fair in December.

The Belvoir prospect was drilled by British Petroleum in 1981 while testing slim-hole technology. The well produced several hundred barrels of oil before it waxed off.

Newton is currently seeking partners to appraise the Belvoir prospect which is wholly owned by Newton and located in PEDL 204 and PEDL 208 on the Company's UK East Midlands acreage. The Company is working with local stakeholders to facilitate further appraisal drilling of the field.

Tags: Newton Energy Corporation