Well guys.. More good news to come for those of us who have PATIENCE!- My Institutional source says stick with New World Oil and you will make a lot of money in this coming year-BIG deals are definitely on the way guys- I trust my source completely and he has proved to be reliably informed so far -the bigger the deals the longer one has to wait!-Watch this space as they say!
I knew my accounts department were good for something, gave me some interesting information about "escrow".
From RNS: "The Company is now pleased to announce that it has received Subscription funds to the value of US$4.8 million from Niel and which the Company is currently holding in escrow." - They've got $4.8m in the bank basically.
My accountant says that normally (in her experience) a "escrow" payment is received on the basis that something specific is done with the money before the remainder of the deal is transferred.
IMO this $4.8m is lined up for some sort of deal. By the end of February when they should be able to get the other $20.2m my guess is that this $4.8m has to have been invested in a project that has been tabled (probably by our french dragon) before the remained of the funds come through.
Read what you like, to me it means that something outside of Denmark & Belieze is on the table here. The amount is weird and very specific. 6 weeks to do a deal to finalise buying an asset sounds quite realistic. Makes sense with the previous statements that the money can't be used on the existing licenses. Gives a reason why it's taken 3/4 months for the subscription to be finalised (find a prospect, engage them, agree deal in principle etc).
I'm going to hold this for the long term (or at least until my wife has spent more than I have invested), got just under 600k of these at .9607p and would love to top up to 1m if some other shares come good.
2p / dilution / blah blah I personally don't think matters, the french guys want a oil producing company on the LSE and for some reason (probably coz cheap and easily influenceable (£££) directors) they've now got what we all knew as NEW.
All in my uneducated opinion of course. DOYR, GL though!
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