Member Info for Blubay

There are plenty of buyers for shares at the placing price of 6p but no-one would want to pay much more than that if they can help while the market impact of the placing shares remains uncertain, so it's likely to just bobble around at this level until Friday and we'll see how many want to hold or buy then. Good news that it was oversubscribed and the price hasn't dropped below offer, which at least half of placings on AIM do. A lot of shorts wanted 5p and didn't get it, so all good so far and we'll see what happens as the uncertainty reduces.

Think that's wishful thinking, the Ask just scraped 0.20 for a few minutes early on but no sign of any trend movement at all today so far. It's not likely to move very much until there's more clarity on the delay and confirmation of starting production.

I think most trading positions will be established now as the SP hasn't shown any sign of dipping below the placing price, so I can't see there'll be a large amount of selling until there's more of rise into confirmation of spud, but you'd have to expect a fair bit of de-risking then between 10% and 50% over the placing price. I bought in with a view to de-risking below 10p but I also have a longer term investment here that I'm happy to let run for the chance of greater returns.

I guess it's likely to stay down until the placing shares enter the market on Friday morning, the market doesn't like uncertainty.

Mainly because the announcement was an unexpected delay. Traders don’t wait around with money tied up in AIM shares, sell the news and move on. Time is money and adds risk of dilution for companies with little cash flow, so it’s not surprising. Still, lots of potential for longer investors at these prices.

Yes it's real, that's for the Shell executives to fly in ;-)

"they either find gas, in which case the sp will soar, or they fail to find gas, in which case the sp will plummet"

They already found gas the first time, they need to prove a commercial discovery by free flowing it to surface.

Several photos in the presentation uploaded to the company website yesterday, with timelines and details of the investment plan for the cashbox raise

If you read the RNS, "The Options will vest in three equal tranches over 3 years commencing 12 months from the date of grant", plenty of time for the motion to AGM

An RNS is a market news service not a company news service. The company can use Twitter or carrier pigeon for any updates they like anytime they like, but if the news is material to the market (i.e. share price) then a listed company must issue a regulatory notice first to the market, for which they also pay. It's important not to confuse the two things.

You have unrealistic expectations about comms. The BoD have been very clear about their strategy and targets, and very transparent about the challenges they have encountered at each stage, when they were material to the market (as is their duty). That's just the nature of drilling, it's risky, that's why most AIM prospecting shares fail to meet retail investor hopes. Time is money, small companies run out of money when delays go on too long and then they raise/dilute, that's the sole reason they list their shares on AIM. In this case, it's probably a good bet they can get some cash flow from this well before that happens but you can't blame traders for shorting in this situation, it's only natural.

What insider information do you have about the size of the available stock float?

"Trust me there is a reason why this is drifting towards 5p"

It's not "drifting towards 5p" though is it? Why go to the bother making stuff up when everyone can see the chart? It hasn't moved for days.

That's your tenth rampy post on this share today Giovs!

"I have bought 20 million in 4 tranches today ...I now have 35 million at 0.2"

Sure you do

"This is approximately double the pre-drill best case NPV10 of US$56.5m, and clearly has been de-risked substantially

through the drilling of Schwarzbach-2(2.). Furthermore, this valuation does not include anything for the 2C

resources of 2.4 mmbbls at the adjacent Schwarzbach South fault block in particular, which will have also been

de-risked through the drilling of this well, nor does it include value for any other appraisal or exploration asset

within Beacon’s substantial German portfolio. Accordingly, we believe that there is considerable running room

from Friday’s closing 0.27p/shr share price (market cap of c.US$35m) up to fair value."

You're trading schedule also seems to be a bit out of sync as the drill should be in the ground before end of September.

I think you've missed anything below 6p

"The Placing, which is subject to the terms and conditions set out in the Appendix to this Announcement, is conditional upon, inter alia, Admission becoming effective and the Placing Agreement (defined below) becoming unconditional in all respects by no later than 8.00 a.m. on 15 September 2023 or such later time and/or date (being not later than 27 September 2023) as the Company, Liberum and Peterhouse may agree. Application will be made to the London Stock Exchange for the Offer Shares to be admitted to trading on AIM. It is expected that Admission will occur and that dealings will commence at 8.00 a.m. on 15 September 2023."

Yes, the placing shares should be admitted for trading on Friday