New World Oil Ratings

BUY by Barney71255 on 29 Sep 2014 13:33

Price at rating: 0.55, now:

America Merrill Lynch, Rafal Gutaj Rafal Gutaj: New World Oil and Gas’ (LON:NEW) KUWAIT By PLATTS

Score: 46.25

BUY by Mpencoll on 25 Sep 2014 07:20

Price at rating: 0.55, now:

Bill needs a new boat

Score: 51.25

BUY by oilwriter on 04 Sep 2014 23:45

Price at rating: 0.58, now:

Oil developer New World Oil and Gas (NEW) is on track of growing its global portfolio following the purchase of a Kuwaiti company in a $1.38million deal.r r The firm, which currently holds assets in Belize and Denmark, is set to own a 60% economic interest through 49% shares in Kuwait’s Al-Maraam Al-Ahlia following the signing of a sale purchase agreement with the company’s shareholders.r r In January, New World received US$4.8mln from Niel and it is now been reported in Kuwait Niel Petroleum has completed its US$25mln investment in the AIM company,New World in return for a 75% stake in the oil and gas explorer which operates in Belize and Denmark. Niel Petroleum is to buy 2.19 billion shares in New World for USD25 millionr r “New World now looks forward to setting up operations in Kuwait and applying its expertise to developing Al Maraam’s full potential.”r r

Score: 88.75

BUY by Barney71255 on 04 Sep 2014 15:11

Price at rating: 0.55, now:

hearing big things and news is imminent contacted ST BRIDES.

Score: 97.50

BUY by biggib on 04 Sep 2014 14:00

Price at rating: 0.53, now:

done deal NEWS IN KUWAIT.r Dr. Muaaz KH M Alfahaid ('Dr Alfahaid'), a Kuwaiti national representing Al Maram Trading & Contracting LTD, will be acquiring a 20% ownership stake in Niel for a consideration of US$20 million, and in turn Niel will be using this consideration to complete the Subscription with New World. r r Kuwait has announced a programme to increase current production from 2.8 million barrels of oil ('MMbo') per day to 3.5 MMbo per day by the end of 2015. Al-Maram will participate in all future bid rounds for the drilling and production of oil and gas in Kuwait after winning an initial bid for the country's 25-year model for what has been nicknamed Project Kuwait. r r "Kuwait has sent out to qualified international oil companies as approved by the Supreme Petroleum Council (SPC) the initial process protocol (IPP) document, which details the process forward." r Although it didn't reveal the names of those qualified companies, the word is out. The companies are BP, Al Maram Trading & Contracting LTD , Conoco, ENI, ExxonMobil, Shell, Texaco and TotalFinaElf. Kuwait has big fields, and it wants big operators to run them. r Some of those companies already work in Kuwait under technical service agreements designed to increase field production, and Kuwait has credited those agreements with major improvements in its production capacity. r r Qualification doesn't completely lock out other companies. Kuwait chose nine other companies that could participate in the activities but only as nonoperating participants. Those companies weren't named either, but observers believe Phillips Petroleum Co. and Repsol YPF are on that list. Under those rules, BP might become operator of a field with Al Maram Trading & Contracting LTD and Phillips as participants. r Once the IPPs went out to qualified companies, the nation planned to open an elaborate version of a data room.r r That room would present the available information about the northern fields that will be offered to foreign investors, and it will include the country's 25-year model for what has been nicknamed Project Kuwait. r After examining the data and the plan, oil companies will reply to Kuwait's request for proposals with their plans, and the SPC will pick the best offers. r Fields r The northern fields available for participation reportedly will be Raudhatain, Sabriyah, Abdali, Bahra and Ratqa. Bahra may not appear in the final package. r Raudhatain holds 6 billion bbl in proven reserves, and Sabriyah holds another 3.8 billion bbl. Both fields have been producing medium- to light-grade crude since the 1950s r r Production from Ratqa was a major reason, if not the prime reason, for Iraq's 1990 invasion of Kuwait. That field is a southern extension of Iraq's supergiant Rumaila field, and Iraq accused Kuwait of stealing billions of dollars worth of its oil through 11 wells along the border. At the end of the Gulf War, a UN team officially placed all 11 wells under the Kuwaiti flag. r r Security is one of the main reasons experts offered for Kuwait's decision to invite outside oil companies to develop the northern fields. If oil companies from the United States, the United Kingdom, the Netherlands and France are operating the fields, those nations will be more likely to step in to protect their home-based companies than to protect strictly Kuwaiti ownership. Kuwait doesn't want to see another 70,000 troops under the Iraqi flag burning its oil wells. r r Kuwait already has made it clear that it would like to raise production from those fields from 400,000 b/d to 900,000 b/d by 2015. Raudhatain produces about 250,000 b/d, and Sabriyah about 160,000 b/d. r r Chevron said in an official statement, "We are interested in the north area of Kuwait as this satisfies Kuwait goals and targets. Obviously, the Kuwaitis are looking at agreements that will not violate their constitution, and we look forward to participating with them." r r It also reportedly plans to offer its western Minagish and Umm Gudair fields for foreign investment at some later date. That probably will depend on its experience in the north. r r Off limits r Conspicuously absent from the list of oil fields that foreign countries may exploit are the fields in Kuwait's supergiant Burgan complex in southwestern Kuwait. r The Burgan complex, with 70 billion bbl of reserves, usually is ranked the world's second largest oil field, behind Saudi Arabia's Ghawar field. That complex includes Burgan, Magwa and Ahmadi fields. South Magwa alone holds at least 25 billion bbl of oil. r r That complex produces roughly 1.6 million b/d of oil. r Kuwait can produce 2.141 million b/d under Opec quotas, but it already has set plans to increase that production to 3 million b/d by 2015, and the northern fields are part of that production-improvement plan. r r One recent study by the Kuwait Institute for Scientific Research said the country can continue producing oil at a rate of 2 million b/d for the next 132 years, but official sources put the reserve level at 96.5%, or 10.8% of world reserves in an area slightly smaller than the northeastern US state of New Jersey. r Capital plan r r This year, KPC and its subsidiary companies plan to spend US $7.6 billion on upstream and downstream projects. The domestic upstream Kuwait Oil Co. will get $5.85 billion of that budget, or more than 75%, said Oil Minister Sheikh Saud Nasser al-Sabah. r r Among items in that capital budget is the development of the five fields near the border with Iraq, in partnership with foreign oil companies. r r Kuwait also is conducting seismic surveys on Bubiyan, its largest island in the Persian Gulf and adjacent to Iraq. The government said initial analysis looks promising, and it plans exploratory wells to test production potential. r r Until now, the country has experienced bottlenecks in its infrastructure. It had 26 oil-gathering centers before the Gulf War, and all of them were damaged. Repairs to the last of those centers should be completed early this year at the Minagish and Umm Gudair fields in the southwest. r r It also has completed a major renovation and is building new tanker mooring buoys at Mina al-Ahmadi, more oil storage capacity and more pumping stations. r Natural gas r r If all goes well with the northern oil fields, more opportunities may open for international oil companies. For example, Kuwait wants to significantly increase its use of natural gas, particularly for generating electricity. It produced only 330 Bcf in 1998, and most of that gas was produced in association with oil production. r r If it can produce more gas, it would free up more crude oil for export. r It has a memorandum of understanding with Qatar that allows it to import gas from Qatar's North field. ExxonMobil is studying the feasibility of moving some of that gas - the amount hasn't been disclosed - to Kuwait. r r Kuwait also signed an agreement with Iran to import gas through a pipeline, but that agreement hasn't been solidified either. r r In July 2000, Kuwait and Saudi Arabia agreed to share equally any production from the offshore Dorra gas field, but Iran also claimed that field, and it still hasn't agreed to any kind of sharing arrangement. r r Government officials in Kuwait would like to produce more gas internally, by reducing the flaring of associated gas from its oil fields and through new drilling. Some of that exploratory drilling to significantly deeper formations has taken place in Raudhatain field.r r Another reason for inviting outside companies in may lie in the Kuwaiti economy. The nation offers its citizens a good living with a lot of no- and low-cost programs helped by the 80% contribution to government revenues from oil exports. Kuwait also has set aside $50 billion against the time it can no longer count on oil to support the nation. r r The depressed oil prices of 1998 and 1999 served as a wakeup call encouraging the government to begin reducing government subsidies. r r It has started privatizing industries outside the oil segment of the economy to reduce subsidies. Most of that activity has taken place in health care, electricity generation and telecommunications. A healthy citizen involvement in nongovernment businesses would take a lot of pressure off the federal budget.r r The government also wants to protect Kuwaiti jobs and expand horizons for Kuwaiti workers. Some 93% of the citizens work in state-owned organizations or the government. By cutting subsidies and increasing revenues, it should be able to cut its budget deficits.

Score: 100.00