UK 22:32 Monday, 21 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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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Comments
J P Spaghetti
Good luck with this – I got in and out very quickly myself (made a little, not a lot) on realising the risk involved, so not a shareholder.
Just one question, though, and sorry if I’m being obtuse, re.
“After all there is a naked short out there in New World stock, which is at least 1billion shares in size. And that is almost certainly a highly conservative figure.”,
how can you be sure that it’s anything like as high as that? Does it follow from the number of unsettled shares? One reason I got cold feet was that even after the realisation that the placing would almost certainly not go ahead as detailed in the associated RNS, I could still buy relatively cheaply for quite some time. This caused me to think that the subsequent spikes were due not so much to those who’d become naked shorters through forward selling chasing every available share as to people dipping a toe speculatively in anticipation that one was to follow (generating a self-fulfilling prophecy). I DO understand that trading volumes were relatively huge in the days following the RNS, but is this really a reliable indicator of forward selling on such a scale? Might it not have boiled down largely to the uncertainty resulting from the sheer size of the discount? All that said, however, perhaps the forward sellers simply came to realise that the scale of the fiasco was now so large that they’d rather wait to see if they’d be bailed out (rather than chase every available share in an attempt to close their positions, that is).
Again – sorry if I’m being obtuse and it is in some way obvious that the figure must be as high as that.
Ben Turney
@JP – there is so much misinformation out there, I think I need to write a piece about this, which I will publish tomorrow
J P Spaghetti
Ben – cheers for that. I’m sure it will be appreciated by many, even though the situation isn’t entirely without precedent (as you observed a few days back).
DUCK AND DIVE
I have never had an interest in this stock but I applaud your action and wish you a favourable outcome.
The story defies belief. The directors have palpably failed to fulfil their statutory duties. The broker/nomad/advisers must be either corrupt or inept. The regulator has exacerbated the problem by dilly-dallying. The private investors have been systematically ignored, disenfranchised, shafted.
Your Resolutions will be worth reading.
wildrides
I have 100k bought as a punt ( I did have 600k but sold the rest into the spike ) They are in Barclayshare nominees account . I have no idea how too tell if they have properly settled or not but if you enlighten me what to do then I am happy to put them towards your goal .