New World Oil and Gas
New World Oil and Gas was a Jersey-based oil and gas exploration company that operated projects in Belize and Denmark and was formerly listed on London's Alternative Investment Market.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
New World Oil and Gas plc was a Jersey-based oil and gas exploration company incorporated on 15 April 2010. Its stated business was focused on oil and gas exploration rather than the sale of consumer products or operation of a downstream energy network. The company pursued exploration interests in Belize and Denmark and was admitted to trading on the London Stock Exchange's Alternative Investment Market, a venue used by smaller and growing companies. The company became particularly notable in 2015 because of an unusual shareholding and capital-markets episode. Private investor Christopher Williams intended to acquire approximately 10% of the company but, according to the account of the episode, accidentally acquired 48.7% in the name of his 76-year-old mother, Judith Williams, who operated a bed-and-breakfast business. Because the holding exceeded the 30% threshold relevant to United Kingdom takeover rules, the City Takeover Panel warned that Judith Williams could potentially be required to make an offer for the remaining shares. Her advisers consequently sought to reduce the holding below that threshold. On 29 April 2015, New World Oil and Gas announced that it would seek shareholder approval to increase the number of shares in issue by more than 300%. The proposed share issue became the central issue in a confrontation involving the board, the company's nominated adviser Beaumont Cornish, its broker Cornhill Capital, and private investors operating under the banner of nwogaction. The announcement occurred in circumstances where shares intended for a later formal issue had been sold into the market, a practice described in contemporary accounts as a form of short selling that could be closed when the new shares were officially issued. The shareholders associated with nwogaction voted against the proposed issue. The resulting market dynamics produced a highly unusual short squeeze in the AIM market and made New World Oil and Gas a prominent example of a situation in which an organised shareholder group successfully opposed the company's board and its market advisers. The episode overshadowed the company's underlying exploration activities and became the principal reason for its public notoriety. The former company is now identified as Eridge Capital Limited and is registered in the British Virgin Islands. The available reference material does not establish a continuing New World Oil and Gas operating business, current exploration production, a surviving website, or a current public listing under the original name. Accordingly, the brand is treated here as defunct or superseded rather than as an active international energy company.
History
New World Oil and Gas plc was incorporated on 15 April 2010 as an oil and gas exploration company based in Jersey. Unlike an integrated energy major, it was an upstream exploration business whose activities centred on identifying and developing prospective oil and gas assets. The company's reported project footprint included Belize and Denmark. It was also admitted to London's Alternative Investment Market, giving it access to public equity markets while exposing it to the governance, liquidity and disclosure issues associated with smaller listed companies. The company’s best-documented period was 2015. In that year, private investor Christopher Williams intended to buy about 10% of the company but accidentally acquired 48.7% in the name of his mother, Judith Williams. Because the holding was above the 30% level relevant to United Kingdom takeover regulation, the City Takeover Panel warned that Judith Williams might have to make an offer for the entire company. Advisers attempted to reduce the holding below the applicable threshold. A second development intensified the situation. On 29 April 2015, New World Oil and Gas announced plans to ask shareholders at an emergency general meeting for authority to increase the number of shares in issue by more than 300%. The reference account describes shares being sold before the proposed new shares had received formal approval. This was characterised as a form of short selling in which the position could be closed when the new securities were formally issued. The practice had reportedly appeared in the AIM market for several years, but its use in this case became highly contentious. Investors operating under the name nwogaction opposed the issue and voted it down. The failed issue contributed to what was described as one of the largest short squeezes in the history of the London AIM index. The episode was unusual because the shareholder group was able to defeat the preferred course of action of the board, the nominated adviser Beaumont Cornish and the broker Cornhill Capital. It made the company a notable case study in the ability of concentrated or coordinated shareholders to challenge corporate management and market intermediaries in a small-cap public company. The available material does not provide a detailed account of later exploration results, production, acquisitions, or continuing operations under the New World Oil and Gas name. It identifies the former company as Eridge Capital Limited and states that it is registered in the British Virgin Islands. This change of identity and jurisdiction, together with the absence of evidence for an active New World Oil and Gas business, supports treating the original brand as defunct or superseded. The principal historical importance of the company therefore lies in its short period as a publicly traded exploration venture and in the 2015 takeover, share-issuance and short-squeeze dispute.
- 2015
Accidental 48.7% share acquisition
[1]Christopher Williams unintentionally acquired a 48.7% stake in the name of Judith Williams, creating a potential takeover-offer issue under City rules.
- 2015
Proposed share issue rejected
[1]Investors associated with nwogaction voted against the proposed increase of more than 300% in the number of shares in issue.
- 2010
Company incorporated
[1]New World Oil and Gas plc was incorporated on 15 April as a Jersey-based oil and gas exploration company.
- 2010
Admission to the Alternative Investment Market
[1]The company became listed on London's Alternative Investment Market, where it raised its public profile as a small-cap exploration company.
Corporate identity superseded
[1]The former company is identified as Eridge Capital Limited and registered in the British Virgin Islands.
Products and positioning
A small-cap, publicly traded oil and gas exploration company focused on upstream exploration interests in Belize and Denmark.
Oil and gas exploration
Belize exploration projects
New World Oil and Gas reported exploration interests in Belize. The available source identifies the country as part of the company's project portfolio but does not provide enough information to specify individual blocks, reserves, production volumes, partners or commercial outcomes.
Oil and gas exploration
Denmark exploration projects
Denmark was another country in which the company had oil and gas exploration projects. The available material does not identify the specific licences, geological results, development timetable or whether any project reached production.
Controversies
2015
Share-issuance dispute and AIM short squeeze
The company became notorious after announcing a proposed increase of more than 300% in issued shares while shares connected with the proposed issue had already been sold into the market. The nwogaction investor group opposed the issue, contributing to a major short squeeze and a confrontation between shareholders, the board, the nominated adviser Beaumont Cornish and broker Cornhill Capital.
Brand decisions
2015
Seek approval for a more-than-300% increase in issued sharesOtherBackground
The company announced on 29 April 2015 that it would seek approval at an emergency general meeting to increase the number of shares in issue by more than three times.
Action taken
New World Oil and Gas proposed the share issue and announced it before the relevant shareholder approval had been obtained.
Aftermath
The nwogaction shareholder group voted against the proposal. The failed issue contributed to a major AIM short squeeze and a wider challenge to the authority of the board and its market advisers.
Sources1 sources
Cite this profile: Cite the canonical profile. /brand-wiki/new-world-oil-and-gas · Editorial policy · How profiles are compiled