.

I think they have been drilling from 31st Jan to 16th Feb and then from 4th of March until today.

So far that makes at most 25 days of drilling.

So quite possible they might be into the target zone next week if what I think is happening, is happening, with logging results the week after.

In other words - IMO - watch for any sudden spike of volume through 3 million shares from Monday 19th March onwards.

volume spikes can be very misleading - cf GKP in recent weeks!

Cynic, you sound like your nursing wounds in GKP.... Easily done and you never really learn your lesson, says my itchey finger debating another long position in BOR..

not really, but cross with myself for greed .... meanwhile, i am happy enough being short bor!

The BOR board did not say the drill will take 45 days, they did not say they would announce news after 45 days.

They DID say they anticipate it will take 45 days - but anticipate is non-committal - they have never said it WILL take 45 days or they WILL update the market after 45 days.

They have clearly said when the well is complete to TD and logged, they WILL update the market.

Therefore one can reasonably expect the board of BOR to keep to their statement, and update the market when TD is reached and logging has been done - whenever that may be.


Darwin Prospect - 61/17-1 Well Spud

Borders & Southern Petroleum plc is pleased to announce that their exploration well 61/17-1 was spudded on 31st January 2012. The well is located approximately 140 km south of the Falkland Islands. B&S is the operator of the well, holding a 100% interest in licence PL018. It is the first of a two well exploration programme.

The well is designed to test the Darwin East prospect, a fault / dip closed structure with a Lower Cretaceous sandstone reservoir target. The well will investigate geophysical attributes that include a flat spot, amplitude conformance to structure and an AVO anomaly.

It is anticipated that operations will take about 45 days. A further announcement will be made once the well has reached total depth and the wireline logs have been run and their interpretation completed.

down 5% so far today can we expect a duster?

certainly sp continues to drift south while rkh curiously heads in the other direction

I hold both so that even's it out

The drill seem to be centred around problems with the BOP (blow out preventer) or stability of the well itself potentially requiring another well to be drilled. There are talks of bad weather ahead and therefore details and yet more talked of a duster.
The well spudded on 31st January and results were expected by March 16th (that's 2 days away). If delays are the order of the day we should get an RNS confirmation on Monday.

Cynic
Your short could be a windfall by the weekend! Yquem 2000 to round off the Sunday lunch?

There we go, as expected (by me) there were rig problems. I was wrong in that I thought 2 to 3 more weeks but the update today says 4 to 5 more weeks. Never mind, but it removes all the uncertainty and its onwards down to the Darwin target zone now - a target which has very good DHI's including the "holy grail" flat spot anomaly.

I remain that Darwin has a very high chance of success for a wildcat.

Now, one more thing, do not be shocked if FOGL drill next at Loligo, with BOR moving Stebbing backwards to be after Loligo.

For those wanting to buy in before Loligo you better be aware there is a chance, and its only a chance, that FOGL will drill next at Loligo...........

Pro

"There we go, as expected (by me) there were rig problems."

That's a bit rich - it was Marky who broke the news way back on 20th February that there were problems!

avsec, I have markymuppet filtered so do not read his posts....... I would not have a clue what he is posting. I can see the threads he has created and read others posts on those threads... but not his.

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

.

trouble with you MrP is that you cannot abide marky because he fundamentally thinks your posts are all hype and no reality - as do i ..... you're desperate to believe your own stuff though there is no evidence (yet perhaps) that bor will find anything of substance ..... thus it is all wishful thinking

It's a toss of a coin whether this comes right or not......I have some but I'm not going over the top with them.....if anything down here, more probably most of it will be with FOGL....

cynic, marky was abusive and writing abusive crap, which I was I squelched the idiot and will squelch anyone who cannot keep debate sensible and has to resort to idiotic abusive behavior. I disagree with a lot of what you write, but as you remain sensible and not abusive its possible to engage with you in discussion.

As for BOR.

Darwin has a flat spot. That is the "holy grail" in wildcat oil exploration.

It will be either gas to water, or gas to oil or oil to water.

Top case is gas to oil - that would result in a stupendous result.

However, given the size of these prospects, even gas on its own is fine for an LNG plant, however the other two (oil to water or gas to oil) would represent far better results.

Flat spot and other DHI's makes Darwin a "low risk" exploration well, imo.

I was wondering what that meant...thanks...