http://www.bordersandsouthern.com/home/

http://www.falklands-oil.com/

http://www.fogl.com/

http://www.bgs.ac.uk/falklands-oil/images/legislation/A3Map.jpg

Exploration for oil and gas

Borders & Southern is a UK-based, London Stock Exchange (AIM) listed company, engaged in the exploration for hydrocarbons. The company is focused on frontier or emerging basins where there is potential to identify and commercialise high value prospects.

The company’s first project is located to the south of the Falkland Islands where it holds a 100% interest and operatorship in five Production Licences covering an area of nearly 20,000 sq km. The acreage is completely untested. The company is currently planning its first drilling campaign.

http://www.bordersandsouthern.com/investor_relations/news/RNS/

looks like that shorts looking good cynic,so is my info.

16 March 2012

Borders & Southern Petroleum plc

("Borders &Southern" or "the Company")



Well 61/17-1 (Darwin East) Operational Update



Borders & Southern provides an update on the drilling of its Darwin prospect.



Operations are currently on-going and the drilling of the well has gone according to design. However, progress was stalled due to some technical issues associated with rig equipment. These rig issues have now been addressed and the well is again progressing in accordance with the design.



As a result of the delays the Company anticipates another 4 to 5 weeks of activity on the well. A further announcement will be made once the well has reached total depth, the wireline logs have been run and their interpretation completed.

short is ticking along nicely but not sure when to call it a day

Time to buy more

only if they actually find oil! .... if not then it will be money down the drain - there ought to be a good pun available, but brain not sharp enough this morning

The original RNS said 45 days to drill; this one says 45 days to complete so what they are saying is they have drilled bugger all since February……..very expensive for someone or both parties.

Another 5 weeks??? ... I guess they probably found bugger all.

Think I'll open another buy position, I think confidence in the rig and the drill has held up pretty well, plenty to play for and I still see more upside than down at this point.

no reason why the rig and the drill should not do the job, mechanical glitches accepted, but that's one of the worst reasons to buy i have ever heard

I want to know who is paying for the delay? It has cost someone millions of pounds,Have BOR enough money?

It now pushed FOGL into the middle of winter when they drill.

I hope you closed the short.....this morning as this looks set to go higher !...

why should i close it? ..... while it's true i was making rather more earlier this morning, it is still very nicely in the money and certainly i have no great confidence that they'll even find oil

I don't have great confidence either in them finding oil, with the amount of media speculation over the potential oil that could be found I've already done nicely in my spreads. This speculation looks set to continue and its more than likely I'll be out before the fact anyway.

I was to late for my limit buy @64 , 80p seem's the price to sell at if you are trading these .

that's sort of my thought too for i already hold rkh on which the result, whatever it is, will have some effect

Yes, everybody in there switching over !.

Oh dear...it's up again....(stifled laughter turning into snigger).....sorry...

if that's aimed at me ...... i'm short at 78 so remain pretty happy

http://www.guardian.co.uk/business/marketforceslive/2012/mar/16/borders-falklands-delay

With tensions growing between the UK and Argentina over the Falklands, investors are keeping an eye on every update from companies operating in the region.

Argentina said on Thursday it would take legal action explorers off the Falklands, and now Borders & Southern has announced delays with its Darwin prospect after unspecified technical issues involved rig equipment. The well is now operating again, but it will need an extra four to five weeks of work to get back on track. After an early dip in the company's share price, it is now 2.5p higher at 70.25p. Dr Dougie Youngson at Seymour Pierce said:


This is a disappointing result today as we had actually been expecting this well to have been completed about now. The announcement has not provided any real details on what the issues were, but we can only assume they were significant given the length of the delay for completion of this well. This delay will also impact Falkland Oil & Gas which will take the rig once Borders has completed its two well programme.

This is a disappointing announcement compounded by the threat of sanctions [by Argentina].


Nick Copeman at Oriel Securities said the delay would add around $15m to $20m to the rig costs, but he believed the company still had enough funds to drill Darwin and the Stebbing prospect, provided there were no more significant delays.

Still got that short running cynic?

i do ..... won't make me a fortune, but slowly going in the right direction