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A second light-oil discovery in Belize confirms that a commercially viable petroleum system exists on the Yucatán Platform. It may also have important implications for Mexico’s underexplored Yucatán Peninsula. In December 2007, Belize Natural Energy Ltd. (BNE) tested oil from several Cretaceous carbonate reservoirs in its Never Delay-1 (ND-1) well east of Belmopan, see figure. While few details are available, BNE says that it is a “substantial discovery.” The ND-1 well tested light, sweet oil from the same Albian-Turonian Yalbec Formation reservoirs that produce at the company’s Spanish Lookout Field discovered in July 2005 in the same license area.
The heavy oil produced in Guatemala at the Xan and Chocop Fields was probably generated from immature local source rocks. The light oil at Spanish Lookout and ND-1 probably migrated from the Mexican part of the Yucatán Platform to the north, where there was sufficient burial depth to generate mature oil.
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