UK 02:14 Tuesday, 22 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.
On Tuesday, New World Oil & Gas (NEW) announced yet another failure to close its elusive deal with the mysterious and privately held Niel Petroleum. The new deadline is April 30th and once again I will not hold my breath. Today, I’d like to remind you about the $1million in loans New World’s executive team took out to pay for their participation in the $10million placement, just over a year ago. Yes that’s right, the company further diluted its shareholders to lend money to its executive directors, to buy shares in the business. What a wonderful use of working capital!
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
wildrides
“Wallmart “ Bill Keller makes David “Dell Boy” Lennigas look like a saint !
Its like a reverse ponzi scheme !