The obvious one is that individuals who are buying their...

The obvious one is that individuals who are buying their allocation at 10c are selling an equal or similar amount at 10.5c. with a ten to one offer, logically 70 million or so shares could be on the market at 10.5.

you can see why the company chose to issue when it did - whilst everyone had some level of excitement or trepidation about the drill - but the trade off was always likely to be a stalling SP. In that regard the company can be seen to be doing the right thing in looking after its post-drill future by builing up cash. If the well is a duster then no one would want to fork out for more shares, or they would have to lower the issue price etc. The by product of this has been to subdue the pre drill hype and lessen the BESBS fluctuation. Bit of hard luck for the BESBS players who may not make big margins as per usual. IMO this means that holders have to choose to exit with a smaller margin or simply wait for the drill and hopefully beat the rush (if they want to exit) or breathe a sigh of relief as the SP rises on positive news.

with BUY reverting to 15% holding - 15% of 7TCF is still a lot of $$ in the longer term for a company like BUY.

As for the drill schedule - early spud at midnight - all I have to say is awesome and well played: negotiate with the govt to give final approval at the last possible minute, announce the spud date (knowing full well that it could be earlier) - thereby giving opposing forces a timeline to work to and the opportunity to mount protests, court action etc (like an injunction against the drill) then usurp any opportunity to do so by spudding at the earliest opportunity (midnight!)thereby establishing the no protest exclusion zone around the rig and throttling any chance for opponents of the drill to launch counter action. Great work and a the best way to ensure that your drill is not jeapordised.

so good luck whatever your strategy.