Member Info for Blubay

Very jittery, that's because they're sitting across the table from their NOMAD who pulls the strings and has them over a barrel

They won't be struggling for funding, the problem will be the terms demanded by the investors wanting to take over

The AIM compliance argument just means that they were advised (shafted) by their NOMAD/broker into disclosing and lowering the price

But they will have to raise to proceed

Cash position looks OK

That's because she's talking about geology not about business ;-)

I think it’s fair enough to try and squeeze out as much flow as possible before making a news release prior to next week’s AGM etc. They will have done their best to maximise the flow for that reason but clearly it needs more work going forward. Small companies very rarely leak to traders with enough capacity to move sufficient shares to make a difference. Market moving leaks more likely start from networks around the NOMAD/broker

Just being realistic, they are not currently covering their costs (i.e. still making a loss for the moment) and the price of oil remains below the $80 cost assumption. We’ll need to wait at least a month and spend half a million on remedial work before we get first indication of whether the congestion can be relieved sooner rather than later. Unfortunately on AIM, waiting without news usually means price decay as traders move on to other prospects.

I think that’s a very optimistic assertion

To be honest, you have to consider delay as a cost risk. The RNS is carefully worded to distinguish different elements of revenue and cost. The attempt at pressuring the cleanup in January is already funded from cash. The initial low flow also seems to cover Opex on that well. The cautionary note is at the end, taking the company as a whole (not just this well) the current revenue makes ‘a material contribution’ towards opex (which we can presume means not yet breaking even or they would say so). Ideally, we would need know the total opex, the assumed revenue needed to cover cost, and the size/length of the remaining cash runway.

That’s how AIM works unfortunately. Companies only list on AIM because they can’t raise capital elsewhere. To do that they require the services of a NOMAD, to advise them, and a broker to handle shares (often the same financial entity). They can’t raise investment or give news to market without their prior permission. That’s where the leaks to traders usually occur, not from the company.

Oil price has been falling for seven weeks straight, and COP agreement today to phase out of oil = oil stocks not popular this week

I imagine they will want to squeeze the highest reading they can get for interim flow rate before announcing to market, but I imagine they'll have to release something at or in advance of the AGM

You mean the same Noble that just had to retract their unsubstantiated (fraudulent?) accounts?

Try buying a round number of shares rather than a round figure in GBP (e.g. try buying five million shares)

Just idle speculation, but if it's not shorts closing then it might also be UKO adding to their 3% voting rights ahead of the AGM (i.e. if the £180k buy was theirs it would bring them to a fairly round 5%)

Which ii is "investing HUGE sums"? There's been no indication of that at all and it's hardly likely while there's any uncertainty, iis don't invest in uncertainty, ever.

RNS - "Commercial production from the rod pump currently being installed on the SCHB-2(2.) well is expected in the second half of November during which the reservoir is expected to continue to clean-up."

...is drawing to an end, so an update on the clean and pump will start to become overdue

The relevant results are all in the RNS, lots of helium, but not yet sampled as free gas…

“Although, no free gas samples were obtained, there was evidence of helium gas in solution when the samples were transferred at surface, and pressure-volume-temperature analyses were performed. These samples yielded helium up to 8,320ppm helium, ”