BUY NEW
by
oilwriter
on
04 Sep 2014 23:45
Price at rating: 0.58, now:
Oil developer New World Oil and Gas (NEW) is on track of growing its global portfolio following the purchase of a Kuwaiti company in a $1.38million deal.r r The firm, which currently holds assets in Belize and Denmark, is set to own a 60% economic interest through 49% shares in Kuwait’s Al-Maraam Al-Ahlia following the signing of a sale purchase agreement with the company’s shareholders.r r In January, New World received US$4.8mln from Niel and it is now been reported in Kuwait Niel Petroleum has completed its US$25mln investment in the AIM company,New World in return for a 75% stake in the oil and gas explorer which operates in Belize and Denmark. Niel Petroleum is to buy 2.19 billion shares in New World for USD25 millionr r “New World now looks forward to setting up operations in Kuwait and applying its expertise to developing Al Maraam’s full potential.â€r r
Score: 88.75