New World Oil and Gas abandons well in Belize

New World Oil and Gas plunged Friday after the company plugged and abandoned its Blue Creek #2A ST oil well in the Petén Basin in north-west Belize.

New World Oil and Gas plunged Friday after the company plugged and abandoned its Blue Creek #2A ST oil well in the Petn Basin in north-west Belize.

Shares in the oil and gas exploration firm tumbled 45.31% to 4.38p at 8:23 as the group determined an insufficient quantity of moveable hydrocarbons at the well.

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