New World Oil Share Discussion Threads

[hedgehog 100] 22/10/2016 21:10

With the RTO aborted, to emerge from suspension NEW needs to, by 9th. November, clarify the Niel Petroleum issue, and appoint a new NOMAD.

If that's achieved, time is on its side, because NEW has never been redesignated as an AIM "Investing Company", so there is not currently a time limit per se to complete a RTO, just a six-month time limit for each suspension period.

Chat on LSE suggests that this may be the company's thinking, as both sides are still keen for the RTO to proceed, so it could potentially be reactivated later.

[adred] 22/10/2016 13:32

Couldn't agreed more.

There is NO need for Gary Bullivant to be appointed as a director of the Company we have Adam Reynolds.

There is a very clear choose here, vote Adam Reynolds or it's game over.

[daniel levi bmd] 22/10/2016 12:55

Back Reynolds on NEW

New World Oil & Gas. The Choice; Win with Reynolds or Delist with Bullivant.

Dan
x

[daniel levi bmd] 22/10/2016 12:54

Back Reynolds on NEW

New World Oil & Gas. The Choice; Win with Reynolds or Delist with Bullivant.

Dan
x

[andy] 21/10/2016 20:13

ADRED,

"you will appreciate that confidentiality is essential in maintaining the integrity of our work and, accordingly, please note that we are unable to comment on individual enquiries"

-------

That's what's called brushing it under the carpet.

This way the city looks after their own,because they aren't accountable.

YEt if you steal a jar of coffee from Tesco's the full weight of the law will come down upon you!

[adred] 21/10/2016 17:56

reply from AIM;

Thank you for your e-mail, copied below, regarding New World Oil & Gas plc and Mr Cornish of Beaumont Cornish.
 
As you may already know, AIM Regulation is the department within London Stock Exchange that is responsible for the regulation of AIM. We can assure you that AIM Regulation considers all enquiries and investigates alleged breaches of the AIM Rules for Companies ("AIM Rules") and for Nominated Advisers ("Nomad Rules") and takes action where appropriate. Please note that AIM Regulation's remit does not extend beyond the AIM Rules and Nomad Rules. Further information regarding the remit of AIM Regulation and that of other regulators and competent authorities can be found at the following:
 
As indicated, we can assure you that we investigate all enquiries which relate to alleged breaches of our rules. However, you will appreciate that confidentiality is essential in maintaining the integrity of our work and, accordingly, please note that we are unable to comment on individual enquiries.
 
Thank you for bringing your concerns to our attention.
 
Kind regards
 
AIM REGULATION

[r ball] 18/10/2016 20:31

With a potential liability of $4m this is insolvent and if suspension not lifted soon then it will be delisted. Shares are worthless. Sorry.

[r ball] 18/10/2016 19:01

I wondered why NielWalking away leaving NEW with the case. Odd?

[adred] 17/10/2016 22:21

TW ;

Today is a very dark day indeed for AIM as the scale of the white collar crime at New World Oil & Gas under its former management team has become clear. That former directors should be investigated by the SFO and others is clear. But AIM Regulation must act quickly to cut one cancer out of the system, it must stop Roland "Fatty" Cornish individually and his firm Beaumont Cornish from ever acting as a Nomad again. I urge you to email the boss of AIM Regulation Marcus Stuttard demanding this happen and suggest what to write below. You can email Marcus at

[e-mail]

I suggests an email should draw his attention to the numerous failings of Mr Cornish with regard to New World Oil & Gas not least:
1. That Mr Cornish assured new directors that there was no issue elating to the Niel Petroleum $4.8 million gifted to New World. At the very least Mr Cornish was negligent in the extreme.
2. His failure to check the $1.75 million paid by New to the Fake Sheikh
3. His failure to check out Bill Kelleher's debt and legal issues at the time of the IPO
4. The disorderly market in New's shares last year following Chris Oil's purchase of 49% and the forward selling of the placement.
These incidents alone show that Beaumont Cornish is not fit to act as a Nomad. Therefore, if the World's Most successful growth market is to show that it is fit for purpose the firm of Beaumont Cornish must be barred from acting as a Nomad and Mr Roland "Fatty" Cornish must be stripped of his status as a QE.

Do your worst...email the bogus Sheriff of AIM today. I have.

[the shuffle man] 17/10/2016 14:19

Has anyone got any idea what the other Adam Reynolds cash shell is that will be taking the big sofa investment

[kryptonsnake] 17/10/2016 11:58

Wrong board!

[kryptonsnake] 17/10/2016 11:52

Update from KH

hxxp://www.bowleven.com/media/media-library

[yufff] 17/10/2016 09:47

Wait till Tom W gets his teeth in to this one

It stinks of Fatty Cornish all over again
The man is a corrupt dangerous human being and must be brought to court to face potential charges

[talkman2] 17/10/2016 08:43

Didn't seem to be a problem giving Big Sofa a load of our cash . Very smelly .

[yufff] 17/10/2016 08:23

Why has this only come to light now after the AGM

the question needs to be asked

[yufff] 17/10/2016 08:15

So it's now a fact the Styckz were all probably bent

Shame

Need Adam to find a new vehicle to take us to aim

[sweepie2] 17/10/2016 07:51

The Company announces that an issue has arisen in connection with a transaction previously carried out by the Company which may have a material impact on its financial condition. This situation is currently being investigated by the Company. Unfortunately, as a consequence of this, the Company has been informed by Big Sofa Limited that due to the current uncertainty surrounding this legacy issue, it has decided to terminate discussions with the Company regarding a possible reverse transaction and listing on AIM. A further update will be provided in due course once the situation can be clarified, pending which trading in the Company's shares will remain suspended.

[tmmalik] 17/10/2016 07:44

Fraud people

[daithedeath] 17/10/2016 07:10

Good morning .RNS out . Well.That's that then.

[hedgehog 100] 05/10/2016 21:50

30/09/2016 15:06 UKREG New World Oil & Gas Half-year Report

"Interim Report

For the six months ended

30 June 2016

Chairman's Statement

For the six months ended 30 June 2016, the Company reported a profit before tax of GBP108,000 (2014: Loss GBP922,000). During this period, the Board has worked to reduce the Company's cost base from historic levels, which has been achieved through a reduction in the size of the board and associated infrastructure.

The value of all assets relating to the Company's oil and gas activities have been fully written down and the Company's assets now principally comprise cash and short term loans. This Interim Report has been produced in pounds sterling (GBP) as opposed to US Dollars ($). This change has been made as the majority of the Company's assets now comprise cash or short term loans held in GBP and therefore more accurately describes the Company's asset base. The Board also believes that GBP is a more appropriate currency for the Company to report in going forward.

Strategy

As previously announced, given the difficulties facing the oil and gas industry and in raising funds for the Company's existing assets in Belize, the Company has been reviewing various acquisition opportunities in sectors other than oil and gas with a view to creating value for shareholders.

The Company's only remaining oil and gas asset is the Blue Creek Production Sharing Agreement in Belize, which is due to expire on 31 October 2016. The Board has recently announced that the Company is currently seeking to dispose or relinquish this asset. The Company has also commenced the process of dissolving the subsidiaries associated with its Danish licenses which were relinquished in September 2015.

On 9 May 2016, the Company announced that it had entered into a conditional agreement to acquire Big Sofa Limited, a company operating in the high growth sector of video analytics. The work on this acquisition is progressing well and the Company expects to update the market with regard to this possible acquisition in the near future. As at today's date, the Company has provided a total of GBP600,000 as a short term loan for working capital purposes to Big Sofa Limited.

On 9 May 2016, given that the proposed acquisition of Big Sofa Limited would constitute a reverse takeover under the AIM Rules, the Directors requested a suspension in the trading of the shares pending publication of the required AIM admission document. In the event that such a document is not published within six months of suspension, trading in the shares will be cancelled.

Nicholas Lee

Non-executive Chairman

30 September 2016 ..."

[nocky44] 23/9/2016 14:24

Is that down to serious research pumped and dumped, just checked your previous posts and basically all the same on lots of stock lol