Belize Exploration
Recently large quantities of commercial oil have been discovered in Belize creating world wide attention and a highly competitive arena for exploration in the region. Providence Energy Group was awarded over 500 square miles. While the government contract term is 25 years, PEG has an eight year strategy to explore and find petroleum within its concessionary boundaries.

Belize’s current petroleum-relevant geology can be generally described as large carbonate basins (both on- and offshore), formally ancient seas and sea shores. Although these areas are indicative of oil producing regions throughout the world, the direct evidence for oil in Belize is significant. Belize has the ingredients for substantial petroleum deposits: excellent source rock, ample underground structures which act as petroleum traps, and, of course, recent major discoveries.