The next Phillipe Edmunds shell mining company

It is difficult to think of a more risky venture on the stock market than oil group White Nile. There is a commercial opening here because South Sudan has just emerged from a 20-year civil war with the central government in Khartoum.

From a geological perspective, White Nile's is a relatively low-risk, high-reward project, but the political risks are sky high.

The length of time it took to file yesterday's maiden results is also not encouraging. Avoid says the Independent.