Member Info for Blubay

Five million shares? It's hardly Warren Buffet, is it?

Must be cheap to issue RNS statements on ASX

Apart from the fact that HE1 is funded for their drill campaign and Noble isn't, and HE1 has first drill priority even if they cost share on the same rig, so there's not much incentive to merge from our side unless the drill fails. Whoever can show a 'discovery' first will win the market share on investors and takeover offers, and it will be a whale that will want the takeover not a minnow.

"This share had higher price as a shell with nothing, thoughts anyone?"

I'm not sure you understand what you're invested in. The previous share price of Advance Energy was higher as a cash shell with the prospect of deal, but Beacon Energy is a new company. It has more valuable assets and cash but there are ten times as many shares in it. If there were the same number of shares as before then each would be worth a lot more, but they aren't so they're not. It's a bigger cake but your slice is smaller.

"But one has to wonder why they could not get the funding on their own."

...because they were not listed on the stock market and therefore unable to access pubic markets to raise funds. The obvious attractions of the reverse takeover are that ADV had (a) a listing on the London market, (b) a board with a lot with experience of O&G markets working for free, and (c) a cash shell with £5m tax loss credit to offset against future earnings.

"Anyway you do you and buy or sell it doesn't matter to me."

sure, I'm comfortable with buying at 0.12p and if they get back to 0.18p I'll probably sell them

"the amount of shares in issue has nothing to do with MCap size..."

Err... the mCap is precisely a function of the number of shares in issue...????

still, if you can get still shares in this new company close to the placing price then you'd hope to make money on them over the coming months.

Millions of dollars of oil but divided by billions of shares

Most of them are locked in but there was some additional book building to make up the numbers

Will be a bit of churn with 0.11p placing shares selling at 10% profit

and trade sample info now feeding through to Google finance
https://www.google.com/finance/quote/BCE:LON

started at 08:48 so should be showing now at the opening 0.12p if you're viewing on the 15 minute delay

yep, just bought some more at 0.12p

Share price was reset to the placing price 0.11 (as expected) but not admitted for trading at the moment. Should be an opening auction to establish a market.

With all due respect, you're talking nonsense, get a grip, really.

Don't be daft, you chose to invest in a risky venture company that failed. It happens every day on AIM, occupational hazard. What you have here is a new company that stands a good chance of growth. With all due respect, you need to move on.

That's not what it means.

See regulatory notice issued at 8am, admission of shares cancelled for the moment

NOTICE



11/04/2023 - 08:00



NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM



Following a Reverse Takeover the following securities have been cancelled from trading on AIM with effect from the time and date of this notice.


BEACON ENERGY PLC
ORDINARY SHARES OF NO PAR VALUE EACH, FULLY PAID
(BKSCP79)(IM00BKSCP798)
BEAN ENER/NPV VTG FPD
If you have any queries or require further information, please contact the company's nominated adviser.

At this point, you're investing in a different company starting from a different set of assumptions on value