UK 02:14 Tuesday, 22 September 2026
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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.
After nearly a year of little to no operational progress, New World Oil & Gas’ (NEW) shareholders would do well to ask what exactly have they been paying their directors such exorbitant amounts for. As the company’s cash reserves dwindle, the only announcements forthcoming have concerned delays, delays and more delays. Chief executive William Kelleher clearly doesn’t feel that he needs to explain just what is going on, so perhaps it is time to ask his Nomad, Beaumont Cornish, a few searching questions.
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Comments
wildrides
Yeah…….. Bill “ Wallmart Super Trolley “ Keller , fess up .
Why are you living off our investment like a parasite and doing nothing ? Drill some thing , survey something , anything connected with oil or gas discovery and unconnected with filling your Wallmart trolley will do . Your share holders are losing the will to live . Paint drying is becoming exciting for New share holders .
Ben Turney
The technicalities of how long an oil & gas operating company is permitted to call itself such, when it doesn’t do anything, are very interesting.
Possibly this is yet another woeful flaw in AIM. Let’s see
wildrides
Morning Ben ,
I got a call from Sunkar chairman yesterday . He said subsidiary did not inform main board until 26th March ( 2nd loan default ) . The news threw them into fire fighting mode and the persons responsible have had action taken against them . Also that the Nomad had given them a stern warning that it must not happen again . There is a board meeting this week so we may get more news later .
Philip
Great, we need answers!!