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NuOil & Gas (NUOG) has been a cornerstone of my crap quartet for some time and I read todays RNS with some delight. This company has caused me to write to the FCA / aim regulation more than any other company in recent years and the social media insults aimed in my direction from “long and strong” shareholders have been truly disgusting. I am sure the dilution to practical oblivion by James Parsons and Marco Furmagalli of Sound Energy (SOU) infamy is a richly deserved reward for those moron shareholders.
If legal action is being taken against a listed company you would expect that it would inform shareholders to be informed immediately, so I was more than a little surprised that it took Nu-Oil and Gas (NUOG) more than two weeks to inform the markets of a claim against it.
Unfortunately for any holders, Nu Oil and Gas (NUOG) has played out pretty much as I expected it to over the past couple of years, and anyone holding through this period will have seen their investment decimated.
As any regular readers of my ramblings will know, I’ve never exactly been a fan of Nu-Oil and Gas (NUOG), nor of the people running the company.
The only real surprise with the RNS that was issued by Nu-Oil (NUOG) this morning was that investors were actually surprised that there had been further delays to the farm-out process and completion of the work at its well in Newfoundland!
Nu-Oil and Gas (NUOG) seems to be one of those AIM shares which periodically finds favour with private investors, despite never actually having achieved anything of note other than burning through investors cash over the years.
Nu-Oil and Gas (NUOG) is a company that I covered a couple of weeks back as being totally over-valued, and although it has pulled back a bit I think it potentially has further to go.
Nu-Oil and Gas (NUOG) is all the rage at the moment amongst PIs, but I’m finding it hard to get quite so excited about its prospects and am getting a feeling of déjà vu when I look back at some of the old Enegi Oil announcements.
Large increases in share price on smaller AIM companies always get my attention, especially in the case of Nu-oil and Gas (NUOG) which closed up over 400% in a single day last week.
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