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Exclusive:New World Oil & Gas - RNS due Monday about new action group

By Ben Turney | Saturday 6 June 2015

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

There is only one legitimate way that the New World Oil & Gas (NEW) fiasco can be resolved and that is to involve the company’s rightful owners. I understand that this week New World’s board and reckless advisors have spent a lot of time trying to persuade the London Stock Exchange (LSE) to accept an open offer at 0.09p. This has been a complete waste of time. Even if the architects of this scandal somehow manage to fool the LSE that this is a viable solution to the settlement mess, it will not be the end of this matter. Does anyone really believe that New World’s shareholders will accept the heavy financial penalty such an open offer would inflict?

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