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/

Institutions backed RKH at £3.15 and raised £206.3 million back in 2010 after hitting oil, they used that money to do appraisal of sea lion field only to find the price hit a low of £1.40 in 2011.

Thats life it dosent always work out the way you hoped.

For those looking at the economics, the minimum size field for dry gas is 5 Tcf, thats a dry gas target for BOR for Darwin (E+W). Of course, if its very rich in condensates that 5 Tcf will come downwards.




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problems again with rig no more info as of yet.

Hope not we all want a big oil strike don'y we ?....a Huge oil strike...a Massive oil strike...an oil strike like nothing ELSE....why is it only little me that wants this ..? just a teeny-weeny little gigantic oil strike....

RF it would be great news for all if BOR hit oil.......BUT.......its slim,who knows.

Problems with the BOP again not sure how bad at this time or how long the delay.

MM, bit of buying late on. Maybe something brewing?

Testing 60p again!! Will it close above 60p?

Sp slipping but quite a few buys....

You still have about 10 plus before news as still drilling.

First target must have been reached by now......

Nasty news on the way, I think as sp slipping away.

Can't be sure of anything as far more buys than sells....

Still looking at investing here but will wait on sidelines for now.

Where is the next support level for this SP?

hlyeo98

Your post's are always negative

I think he has reason, ald.,.

Big time shorter is hlyeo! Direct and fires from the hip.

Good start this morning.
Down towards 50p or up towards 70p whilst we await news?

29 June 2012


Borders & Southern Petroleum PLC

Result of AGM

Borders & Southern Petroleum PLC announces that at its Annual General Meeting, held this morning at 10:00am, all resolutions were duly passed.

For further information, please visit www.bordersandsouthern.com or contact:

Howard Obee, Chief Executive

Borders & Southern Petroleum plc

Tel: 020 7661 9348

Katherine Roe / Callum Stewart

Panmure Gordon (UK) Limited

Tel: 020 7459 3600

Simon Hudson

Tavistock Communications

Tel: 020 7920 3150

Notes:

Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange (AIM: BOR). The Company is focused on frontier or emerging basins where there is potential to identify and commercialise high value prospects. Its project in the Falkland Islands comprises five Production Licences (100% interest) in the South Falkland Basin covering an area of nearly 20,000 square kilometres. The Company has acquired 2,862 km of 2D seismic and 1,492 sqkm of 3D seismic and drilled one exploration well. A second exploration well (61/25-1 on the Stebbing prospect) is currently drilling.

-ends-

AGM notes from iii

AGM was very lively, with one or two people challenging the limited information coming from the company. It's a point that has puzzled many of us, but to my mind the following points explain it:
- "how could [an oil major] make a hostile bid without knowing what we have"
- may want to bid for additional open licences
- Board hold about 60m shares between them [more than in any other FI explorer] - want to maximise value

The board is experienced, oil exploration is competitive - they want to keep competitive advantage.


I'm not going to try to reproduce all of the technical detail (there was quite a lot) - hopefully Gramacho and others will fill in, but what I will to is give some impressions:

As to what they have: Darwin (east + west) is 1.88 TCF gas minimum, 2.5 best, 2.88 max.

liquid content: board would not be drawn at this stage, but a chap who has consulted for both BOR and now FOGL was willing in conversation to put it at 50m to 150m barrels per TCF, but most likely around 80-100. which gives us around 200m barrells most likely but range 100 to 420. Commercial needs to be 'in the hundreds" (Obee).

--> my view is it will be commercial. Full analysis 10 weeks from 18th of June, but some results, eg liquids content sooner - perhaps a few weeks.


Some revealing comments
- there will be another BOR campaign, it will be 5+ wells, mixture of appraisal and exploration. (Obee, response to question)
- "they will still be drilling in FI in 40 years time" (Dobson)
- BOR prospects "have best potential i've seen in 20 years in oil industry (mostly BHP)" (Fleming)
- Looking for rigs now
- would have first call on 5th slot, but at moment not certain/available

Burgess and Bute would be order 1bn barrells, if successful.

SP will rise, just wait for fund raising time.


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If this present well comes up dry i can see 20p ......glad am out,good luck to those holding but far to much risk and the last well on gas could be border line if commercial.

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