Ann: South Marsh Island 71 F4 Re-completion, page-13

Chis6>mate I'm selling my 5m share this is a dog and not waiting around for the CR
Immetoday>based purely on that post I doubt you hold 5m
cara>.complete bull...
cara>..left out the decimal point at the beginning...

Badger>Leave Britney^h^h^h^h^H Chris6 ALONE! (Source *1) (^h is the code for a backspace, Strike through did not work here, for some reason)

anyway

5M shares at 15c is only $A750K. I can believe it. He said he made a lot on a few other oilers (From his posts) and expected the same quick ride on BYE. Now it has not eventuated, he is throwing the dolly out the pram. A lot of screaming and gnashing of teeth, but not a lot of action. Can his ego accept a crystalised loss?

Now that the price is 12c, it makes no sense for a director to exercise their options and sell into the market as their lowest option is 12c and expires at the end of the year (as I remember). So at these prices this liquidity to the BYE balance sheet is gone if they don't take their options. This would add to the CR narrative. But frankly the share price would collapse if a CR was done. So I don't buy it. Personally I think they will sit this one out and just let the current drills pay down the debt. In summary there is no financial point exercising an option at 12c only to sell at 12c. In other words there is a floor of 12c. Which we are at.

My whale selling thesis, (ie a big player who got in at 13c at the last CR and now selling slowly at anything above 13c). Would also seem to indicate a floor at 12c as selling at 12c would mean a loss and hurt. Not a good look for the end of the year. Especially for a bigger player.

So, we are back with chris6 and his possible 5M shares. If he sells the share price can only go down as there is no news on the market to buoy up the share.

This is all very exciting, and not in a good way. Christmas is on the way. I hope no one was relying on a capital gain from BYE to buy their loved one presents.

All disclaimers. (Badgers don't like pop music)

(Source *1)