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New World Oil Share Chat (NEW)



Share Price: 0.31Bid: 0.27Ask: 0.35Change: 0.00 (0.00%)No Movement on New World Oil
Spread: 0.08Spread as %: 29.63%Open: 0.31High: 0.31Low: 0.31Yesterday’s Close: 0.31


Share Discussion for New World Oil (NEW)


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Arminius
Posts: 3,131
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.83
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RE: NEW
15 May '14
Looks like our 5.000.000 buyer at 0.74p was right.

Bargain at these levels.
 
Arminius
Posts: 3,131
Premium Chat Member
Off Topic
Opinion:Strong Buy
Price:0.83
View Thread (3)
RE: NEW
15 May '14
I wonder if Mr Foucher knows more about the kuwaiti licence, at the end of the day he gave 20% of Niel away for $20m ;)

"It is impossible to accurately calculate the return on our investment, but drilling in Kuwait is without risks and there is little failure. The question is whether it is positive or very positive, "summarises Laurent Foucher, CEO of Neil Petroleum.
reggie72
Posts: 3,216
Off Topic
Opinion:No Opinion
Price:0.83
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NEW
15 May '14
with these licenses i would guess they can at least get to a mid cap company c£500m. dyor
GheeBhee
Posts: 574
Off Topic
Opinion:No Opinion
Price:0.83
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RE: NEW gains on company making Kuw..
15 May '14
"will be keen to the subscription close and the company deliver more details on how this new opportunity in Kuwait will translate into returns"

Other way round, actually,
Arminius
Posts: 3,131
Premium Chat Member
Off Topic
Opinion:Strong Buy
Price:0.83
1p soon
15 May '14
Level 2 looking strong

Only Peel at 0.85p
Wins, Pmur at 0.9p
Cana, Scap, Libc at 1p
reggie72
Posts: 3,216
Off Topic
Opinion:No Opinion
Price:0.83
NEW
15 May '14
can't wait to see what licenses they get, one thing for sure is they won't be smale scale in this country!.
Arminius
Posts: 3,131
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.80
View Thread (3)
RE: NEW gains on company making Kuw..
15 May '14
"The signing of this Framework Agreement with Dr Alfahaid should set the stage for New World to become an active player in the Middle East petroleum sector,” he said.

Investors, long wearied after the disappointments and delays of the last year, will be keen to the subscription close and the company deliver more details on how this new opportunity in Kuwait will translate into returns.
Arminius
Posts: 3,131
Premium Chat Member
Off Topic
Opinion:Strong Buy
Price:0.80
View Thread (3)
NEW gains on company making Kuwait
15 May '14
Shares in New World Oil and Gas jumped by more than a third after the AIM micro-cap, badly hit by a run of dud wells on its flagship exploration project in Belize, announced plans to enter oil abundant Kuwait.
Market Talk's insight today

The oil rich nation is not familiar territory for small cap E&Ps so this opportunity is something of a coup for New World: shares in the company, which languished in 2013 in the wake of the Belize drilling results, were up more than 36 per cent in morning trading at 0.75 pence on news of the agreement. By Wednesday close, with the SPA inked, the shares were at 0.78 pence.
The Kuwait opportunity comes via New World's relationship with Luxembourg's Niel Petroleum, which in August 2013 announced plans to inject S$50 million of capital, by way of a US$25 million share subscription and US$25 million loan facility, into the small cap.
The news triggered a spike in the share price, which hit a high of 1.4 pence, but more than eight months on since shareholders approved the subscription and the deal has still not completed, although Niel has paid US$4.8 million into escrow and a fee to gain an extension. These delays have weighed on the share price, which is now trading under a penny.
Niel has now informed the company that Dr Muaaz KH M Alfahaid, a Kuwaiti national representing Al Maram Trading & Contracting, is to acquire a 20 per cent ownership stake in Niel for a consideration of US$20 million: these are the funds that will be used to complete the subscription with New World. This is now expected to completed by July 30.
Importantly, New World has also signed a binding Framework Agreement with Dr Alfahaid and Niel, under which it will participate in drilling and production opportunities in Kuwait and marketing Kuwaiti crude overseas. This will be via a 49 per cent equity interest, and 60 per cent economic benefit, in Al-Maraam Al-Ahliya Company for General Trading and Contracting LLC, a Kuwaiti registered company that is one of the few companies granted the right to participate in tenders to drill for and produce oil and gas in Kuwait, and to sell and market oil produced in Kuwait to the international market.
New World, which will nominate a General Manager of Al-Maram, will pay €1 million for the transfer of the shares in Al Maram plus an additional €4 million to Dr Alfahaid, educated at Strasbourg and the Sorbonne, once the subscription is complete and New World receives the US$25 million. But, if the deadline of July 30 is not met for the subscription funds, Dr Alfahaid must return the initial €1 million.
Kuwait has announced a programme to increase its current production from 2.8 million bpd to 3.5 million bpd by the end of 2015. Al-Maram will participate in all future bid rounds for the drilling and production of oil and gas in Kuwait.New World CEO Bill Kelleher said this investment opportunity could be a “company-maker”. "The signing of this Framewor
GheeBhee
Posts: 574
Observation
Opinion:No Opinion
Price:0.78
That Ministerial Link
14 May '14
While we wait for another revelation or reheat of some news release or other, I thought it would be interesting to revisit that parental link.
"Dr. Alfahaid, is the son of Khaled Masoud, a previous minister and prominent member of the Kuwaiti parliament."
Is that the late Khaled Al-Masoud Al-Fuhaid who resigned as Minister of Education in 1967?
"Dr Alfahaid earned a Bachelor's degree in International Relations from Strasbourg University in 1993"
Does that make him born around 1972 and about 42 now? So that means Dad had him a bit late in life (you didn't get to be a Minister and University President early in them days). And that family name was missing in the RNS; very informal but then Alfahaid is almost Al Fuhaid so we shouldn't be encouraged to question it.
But then look! By Tuesday two new people, father and son apparently, turn up with names even more like Dad's. Except for the spelling mistake of course (but who wants to be called Osama these days?). And the price has gone up from 1m Eur to 5m Eur if you compare the two RNS. So, to add to a Paris Doctorate gained on day release from work in Egypt we have dubious parentage claims to consider. Not forgetting the outrageous business case put forward by BK in his interview with Sarah Lowther, we have all the makings of a very interesting due diligence report. Makes you wonder how we got to a binding agreement and a signature without one, don't it?
I
reggie72
Posts: 3,216
Off Topic
Opinion:No Opinion
Price:0.78
NEW
14 May '14
27,000bopd that'll do- Give GKP a run for their money!.



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