New World Oil and Gas has secured a six-month extension in work programme commitment deadlines for Licences 1/09 and 2/09 ('the Licences') at its Danica Jutland Project in Western Denmark. This extension was discussed with Danica Jutland ApS and the Danish North Sea Fund, the Company's 20% full-paying partner, and approved by the Danish Energy Agency. In order to secure the extension to 17 June 2014, New World has committed to a passive gas survey to expand its existing prospect inventory in an effort to determine the best possible candidate for a slim-hole well, prior to making a decision whether or not to drill a conventional well.

In addition to allowing New World additional time to conduct further work and complete the evaluation of the prospects defined by the survey, the extra six months will provide New World with more time to continue on-going discussions with potential farm-in partners.

Tags: New World O&G