UK 05:46 Friday, 6 November 2026
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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.
Things go from dire to abysmal at New World Oil & Gas (NEW). With the after market release of New World’s interim figures last Tuesday, there are disturbing questions about the company’s financial position and the nature of its financial arrangement with Niel Petroleum. I plan to return to these tomorrow, but in the meantime there is a much more serious problem concerning the €1million payment made by New World to Dr Alfahaid of Al-Maraam Al Ahliya Trading & Contracting before June 30th this year. It appears, by its own admission, cash-strapped New World has paid what amounts to a €1milion deposit to an individual it had not completed due diligence on. Even by the calamitous standards of what passes for corporate decision making at New World, this action could prove to be the most inept. Here’s why.
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Comments
wildrides
Ive heard that Walmart have asked for Bills super sized personal VIP shopping trolley back.
Jonathan
Dear New World Oil Friend, I am a Nigerian business man and I have recently inherited $1billion US. I am unable to access it or transfer it out of my country without some cash, which sadly I do not have. If you are willing, subject to due diligence, to send me $1million I will send you $20million within a week after I have gained my money.
Thank you friend.
GheeBhee
Dear Jonathan.
On behalf of the members of New World Oil and Gas ((NWOG) thank you for your most generous and timely offer.
As you no doubt know, NWOG has a reputation second to none when it comes to responding positively to such requests. I am pleased to advise we would be happy to accede to your request immediately but for one impediment. Some of our shareholders are very sceptical people. Would it therefore be possible for you to send us a photograph of yourself in the tribal outfit of an elder of a tribe from the oil rich coast of Nigeria do you think? It would help us so much to convince our shareholders of your bona fides. Something similar has certainly worked for us in the past and will allow you up to six months to arrange the balance transfer.We could at the same time look to make an escrow arrangement for our advance to you. Please don’t be alarmed by this proposal as our unique understanding and application of the escrow function will meet your needs splendidly we are sure.
Looking forward to hearing from you soon . Don’t forget to send us the picture now.
God Bless.
Haigha
I get a whiff of Quimdell here. Could they all be mates pulling a fast one? Could the Middle-Easterns, in fact, be no more than middle-ethereans? Oh, hang on, there’s a Nigerian fellow at the door.