New World Oil and Gas dips after deeming Rio Bravo well 'non-commercial'

Shares in New World Oil and Gas dipped on Friday morning after the oil and gas exploration company reported that insufficient commercial quantities of moveable hydrocarbons had been found at the Rio Bravo well in Northwest Belize.

Shares in New World Oil and Gas dipped on Friday morning after the oil and gas exploration company reported that insufficient commercial quantities of moveable hydrocarbons had been found at the Rio Bravo well in Northwest Belize.

The company, which is focused on Belize and Denmark, said that the well, which is located in the Petn Basin, had been drilled to a measured depth of 9,010 ft on April 21st.

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