UK 22:33 Monday, 21 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Various parties involved in the New World Oil & Gas (NEW) fiasco seem determined to spread false information about the current size of the naked short position. At the EGM, one of Cornhill’s representatives laughably tried to claim that the volume in the first three days of trading wasn’t so spectacular and “at least 650million of the shares traded were done over two transactions, which were ‘bed & ISAs’”. That was an interesting enough revelation, but what is the true state of play?
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
hadronuk
Ben, as I had a bit of a go at you over your recent UKOG article, I just wanted to say thanks and well very done for your efforts in pursuing the NEW short selling scandal. I think your views on the matter are shared by the great majority of PI’s whereas Mr Winnifrith is blinded by his own prejudices, as usual.
On UKOG though, you sneakily dodged answering my post!
Ben Turney
@hadron – thank you. On UKOG it isn’t a standard disclaimer. Find me another one that goes to such lengths to dissuade readers from reading the report or acting on it. You need to do more background research into that stock to understand why so many of us here are focussing on it
J P Spaghetti
True to your word Ben, thanks for the analysis. The whole fiasco screams Ealing Comedy, though with the likelihood of the selective settlement you mention – amongst other things – suggesting more sinister undertones. Not funny, of course, to those who’ve lost significant amounts, though.