NuOil & Gas (NUOG) has never failed to make me laugh and despair in equal measure. Years of hot air and puff followed by placings. A new bright future (cough cough) was meant to be on the horizon as a cash shell backed by James Parsons and Marco Furmagalli. Unfortunately it would appear the one asset they had is so good it cannot even be given away!
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.
