New World Oil - Re: NEW Stream Log - In our opinion the proposed...

In our opinion the proposed financing package will significantly reinforce New World's financial position, introduce a strategic new shareholder and position the company for future growth across exciting and new projects," said Craig Howie, broker for Shore Capital Market Talk's insight: Luxembourg-based Niel will pay $25 million for the subscription shares, which have a proposed value of 0.735p each, and will provide a further $25 million as a conditional debt facility to finance oil and gas projects approved by Niel. New World said the deal would "support and strengthen" its search for partners to farm into its existing projects in Denmark and Belize. "It is also anticipated that [Niel], with its directors' expertise and connections, will provide access to new projects and opportunities for the company and assist in the acquisition and development of any such projects," New World added. Analyst view "In our opinion the proposed financing package will significantly reinforce New World's financial position, introduce a strategic new shareholder and position the company for future growth across exciting and new projects," said Craig Howie, broker for Shore Capital.