New World Oil & Gas: Transaction with Niel Petroleum Management Interview

On 21st August New World Oil and Gas (LON:NEW) announced the terms of a transaction with Niel Petroleum S.A. which sees approaching 2.2 billion additional shares issued and brings in $25m in fresh cash at 0.735p per share.  The deal also provides for a further $25m to be made available to the company in the form of a debt facility.

The transaction, which was approved by shareholders at the general meeting on 12th September, results in issued share capital of just under 2.9 billion shares.  The company will be well funded but, understandably, shareholders who invested in New World on the basis of major upside on discovery of oil & gas or through commercialisation of the company's known assets in Denmark and Belize, may question whether the enlarged company still fits their investment criteria.

With this in mind we wanted to offer Management the opportunity to expand on the significance of this strategic development and address any investor concerns.  We trust you will find this podcast interview informative.

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New World Oil & Gas: Investor Q&A with Chairman Bill Kelleher

There have been signs of consternation amongst investors with regard to the sliding share price of New World Oil & Gas (LON:NEW) following the announcement that the company’s first two wells in Belize were non-commercial and the company’s placing of stock at a significant discount to the then market price. 

As investors, this consternation is something we understand and share, particularly given the loyalty of many shareholders to the company, since its IPO in 2011.

Whilst our contrarian approach would suggest that NEW, at these prices, may present a buy opportunity for the "risk-aware"; there is also the sense that questions needed to be asked with regard to recent developments.  After all, the process of reversing a share price decline requires that issues irking investor confidence are addressed, so that any positive company developments may be properly reflected in the future share price and not overshadowed by any peripheral distractions.

We therefore contacted New World and put a number of direct questions to Bill Kelleher, Chairman.  We trust the Q&A below will prove useful and help you to form a balanced opinion on company, its management and its prospects.  If MiningMaven readers would like to give us any feedback on this Q&A please feel free to email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

New World Oil & Gas: Belize Update Interview

Oil and Gas Exploration is a risky business and this was proven once again with the announcement by New World Oil & Gas (LON:NEW) last week confirming the lack of commercial hydrocarbons in the early drill campaign in Belize, notwithstanding the significant amount of oil identified throughout the drilling process.

The company is moving straight onto its next drill prospect in Belize armed with the significant amount of subsurface data the work to date has provided.  With this additional knowledge, and a definite determination to succeed, the company remains confident of making that transformational discovery.

In the light of developments we thought now would be a good time to speak with Bill Kelleher, Chairman and CEO, to discuss the ongoing work in Belize and what they are doing on the ground right now, both in Belize and Denmark.  With multiple drill targets across the portfolio, and a highly disciplined technical and operational approach,  we remain confident in the team’s ability to deliver and trust this interview will be of help to investors.

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New World Oil & Gas: Update Interview with CEO Bill Kelleher

The discovery process is all about hard graft and commitment and in the case of New World Oil & Gas (LON:NEW),  investors will know all about the commitment the management team are putting into making that first oil and gas discovery right now.

Last week the company released an Operations Update  detailing progress on their first well in Belize and the additional side-track drill operations to be undertaken.  The word ‘Positive’ in the title gave us all a clue of management’s take on operations thus far, but recognising that oil and gas announcements will always contain some technical references, we wanted to offer Chairman and CEO Bill Kelleher the opportunity to expand on this news and give us his take on progress to date.

We hope you enjoy listening.

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New World Oil & Gas: Update Interview with Chairman Bill Kelleher

In oil and gas investing there is one undeniable truth that exists and persists above all. That is, simply, that you don’t know the truth until the drill bit starts to turn. Merely getting to that point is challenge enough, but after all the preparatory work, only the results of a well can determine whether you achieve exploration success with an oil and gas discovery.

This fact has not been lost on Bill Kelleher, the Chairman and CEO of New World Oil and Gas (LON: NEW), who, together with a team of true professionals have one objective in mind, to make an oil and gas discovery!