UK 23:10 Friday, 25 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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GXG Markets has concluded its investigation into US Oil & Gas and given it the all clear. Jeepers are all regulators imbeciles? It was demonstrated that on repeated occassions USOP made statements that were simlly not true and were directly contradicted by authorities in the USA. That has been well documented here. As such we can only conclude that misleading investors is all well and dandy on GXG just as it is on the AIM casino. Really I cannot see what the point is of playing it straight anymore?
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Comments
DUCK AND DIVE
GXG’s former Head of Compliance & Regulation, Martin Frey Olesen who initiated the USOP suspension (and numerous others), left GXG in mid-process.
However, there may be more to come. There was nothing in this morning’s RNS, nor in GXG’x one-liner, about the underlying reason for the suspension which was to investigate a disorderly market – presumably due, inter alia, to the CEO’s private shareholder briefing at Kilkenny and elsewhere.
The claims that USOP had no funding problems and had rejected a $100m offer of financing were never made in an RNS so this morning’s RNS stating that USOP hasn’t misled the market presumably doesn’t cover the off-market briefings.
It does mean that, according to some definition, USOP found oil – although not the definition used by the Nevada state regulators. In any event, it was uncommercial by everyone’s definition.
And they still desperately need cash from somewhere.