UK 00:47 Tuesday, 22 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.
If you thought that sending €1million to a man you hadn’t completed due diligence on, in the hope of receiving $20million, was the height of stupidity, you’d be wrong. Taking €1million out of an escrow account, set up expressly for a deal that has failed to close after more than a year’s worth of delays, to pay said amount to said man, in the hope of receiving $20million, is probably a good deal more stupid. Yet this is exactly what New World Oil & Gas’ (NEW) $1.75million a year board of directors did, at some point between the middle of May and end of June this year. Unless Niel Petroleum has taken leave of its senses and given, as a gift, this money to New World, this spells big trouble if Dr Alfahaid doesn’t soon make good on the $20million he was meant to have paid by August 8th.
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Comments
wildrides
Great work Ben in highlighting this bunch of nare do wells .
The shares must be suspended from trading whilst solvency of the company is established formally
wildrides
Broker resigns ……… NP deal off ……… see RNS 10.58 A.M today
Well done Ben !
Mark
There has been a more charitable gift on aim than this , range’s little 9m dollars to iop. Wildrides, Cornish as acting broker during all this shit, still has to answer for it even though they’ve “done one”
Ben Turney
@wildrides – thank you. It has unravelled faster than I thought it would, but its ultimate demise was inevitable. It is all an absolute disgrace and should have been prevented long ago.
@Mark – at least Range kept up the pretence that that was a loan to IOP…
alcira16247
Ben
Brilliant piece of full on investigate journalism!
You’re another contributor that adds to the growing reputation of Shareprophets as a site, to ignore at your peril!