Member Info for FlySeaLSE

Tobethebest

Yes we know we invested in a good company. The problem is that they have showed that if you just leave youe money in they will go down the drain. this means you need to keep an eye on it every minute which is a hard work when you are not doing it full time

Would be interesting to see how much they raised and for what?

Then compare it with HE1 deal and see how good or bad it was!!!

Why Lorna are you making us spend time to research into two different companies? Why?

1. We bought something that initial best estimate evaluation is 15mil buy giving 6 mil at 50% discount which is 12mil upfront.

2. The company that valued HE1 at 5p dwongraded the estimate to around 3p (dont remember the exact figures)

3. The main reason was stated was income generation in 9 months. This means they are certain that HE1 drills would not generate income for at least a year which if the drill was succesfull they were estimating about a year.

Non of the reasons above sreams confidence. I agree with wydrum.

Still have some money invested but only 30% of what I had before the latest rns.

In the UK, forward selling of shares is generally not illegal, but it must be done within the framework of the law and regulations set by financial authorities like the Financial Conduct Authority (FCA). Forward selling usually refers to selling shares that you do not currently own, with the intention of buying them later to fulfill the obligation. This is closely related to short selling.

Regulation: Forward selling and short selling are regulated by the FCA under the Short Selling Regulation (EU) No 236/2012, which was retained in UK law after Brexit. The regulations require transparency and the disclosure of significant short positions.

Naked Short Selling: Selling shares without ever borrowing or arranging to borrow them (known as "naked short selling") is illegal in the UK. This is because it can lead to market abuse and create artificial downward pressure on a company's share price.

Covered Short Selling: This involves borrowing the shares first and then selling them. This practice is legal but regulated to ensure that it does not destabilize the markets.

Market Abuse: If forward selling is done with the intent to manipulate the market or to engage in insider trading, it would be illegal under the UK's Market Abuse Regulation (MAR).

In summary, forward selling of shares is not illegal in the UK as long as it is conducted in accordance with regulations, especially those concerning short selling and market manipulation.

My opinion is that we still feel the hangover from the placing. Dilution takes time to clear thats why I didnt like the deal. We would be trading close to 2p or even higher if it wasnt for the deal.

Hope the results bring something next week.

PubC

Yes we will also have some land we can develop but this would require a devolpment plan and its not clear who would fit the bill and the timeline on this. Yes it might bring more money but this would be 3 to 4 years down the line minimum.

Yes it is a posibility but its way too much in the future and very theoretical. Again its like taking a punt, its not certain.

I don't like the deal!! It doesnt make sense and that tells me there is something else behind the acquisition.

We raised 6m but it actually costs us 12m as we gave 50% discount to buy something that at best case would give us 3m for 5 years. So we spend 12m now in order to get a total of 15m spread in 5 years?????

Lorna said this is a good deal and it was approved by other financial competent staff.

There is something that doesnt add up!

This makes me nervous. Hope its not bad and its something that they just cannot say at the moment.

Please someone give me a logical answer.

Wish it goes up soon and quickly but the BoD messed up with the purchase and now we see the reaction to it.

Hope for an excellent result next week but I am not risking as many shares as I did before. Being on the negative for years I am not willing to risk any of my money. I am free riding now. Wish you all the best.

Alan55

They have to shift the new 600mil shares. Yesterday around 400mil where sales and today around 200mil. So we shifted the new shares but you still have the shares of people that wanted out these days so we still not consumed enough shares. Thats why dilution is a pain and we dont like it. It brings the SP down and keeps it down for days or weeks based on demand.

Still few days to go till you see a considerable rise imo.

BacchusII

The company that provided the money got the shares at 1.09 and sold them/selling them for the current rate. So in the next few days will get all the money back with a good interest. This would not be possible if they were going directly.

HappyDazes

The statement reads "Conditional acquisition of a 50% interest in Blue Star's Galactica-Pegasus project"

My understanding is that we purchased 50% of one project and not 50% of the whole company. This looks like a really bad deal to me.

Can someone please tell me I am wrong?

Strop, Thank you,

I think I read it but not carefully enough and missed it amongst these numbers.

Does anyone have any idea what are the expected earnings of Bluestar (Galactica-Pegasus) project in 2025?

We are not doing the EWT to find if we have higher concentrations. We are doing it to establish flow rates, then calculate the basin size and verify commerciality.

So forget about concentrations, we already know it, measured it and got the rubber stamp on it months ago.

Newbie "Derisk 🤣… hate that saying.."

My average was 0.62p. I sold 25% of my shares and now its 0.24p. I still have a high 7digit number of shares. Now I can hold till results. If I didnt believe in the share I would have taken a profit too.

The term Derisk means the risk of becoming negative on my investment becomes very low.

After a sudden rise there is always a small drop. Have a look on the HE1 graph on the start page. This is normal and its not going to drop very low. So do not hear the doomers and gloomers.

The SP may not rise a lot until news but will not drop much either. News are close from this Tuesday to a maximum of two weeks.

Again this is not a prediction but stating behaviour based on previous history. If I knew the future I wouldnt be here!

If you want to put money before news then its a good time to do it now. If you want to derisk is good to do it now too as news may land on Tuesday.

Chances are in our favour but there is still a risk. News may not be binary.

I have derisked my investement to a good level and now keeping everything for news!

Good luck guys

He is saying that they will manipulate the results! How can they keep a secret when so many people are involved in testing?

Also part of the team is SLB and they also need to be part of the plot!!

This is impossible and the stock market has implemented many procedures to avoid this happening.

If he wants conspiracy he can watch some Netflix!!

Broomtree

I did 1/4 yesterday and 1/4 today. So I am the same as you. I saw my investment going down to 10% after the first major dilution so now I am not risking it for anything. Depending how its goes tomorrow I may derisk even more.

I still have a large amount invested. I hope to retire early if we hit gold.

Fingers crossed

EOTB. The share price has increased around 35% the last three days. After a sudden/significant rise there is a retraceas people are here for quick profits or derisk before the news.

I dont expect any RNS tomorrow as they will hold any news to process them in the next three non trading days. So tomorrow there might be a small drop or if there is a leak would go up. So nobody knows but I bet on a small retrace.

I personally dont expect it to rise tomorrow without any news even though I believe that the Mcap is low and the probabilities of good news is high.

Anyone glooming and dooming is just a scare mongering as the traders would buy back and support it.

There are about four weeks left to complete EWT. They said they will target two zones. My understanding is that that it will take two weeks each. So it is possible that we may have news after the first one if they choose.