.

i think not - see my comment on bor

It does not say what kind of liquid which means either oil (heavy or light) or gas condensate

Lovely - a condensate discovery and massive one as well, no wonder BOR are pleased to announce it !

http://www.investegate.co.uk/Article.aspx?id=201204230700178142B


Condensate sells for a premium to Brent Crude.

A billion barrels of condensate - well ........... worth even more than a billion barrels of API32 crude.

The Times was half right, The Sun was half right.

Its not dry gas as The Times could have been taken for, and its not Crude Oil that The Sun said - however, its liquid gasoline in effect - more valuable than Brent crude and 26 square kilometers of it with very thick net pay.


Well done BOR and all !! no need to build an LNG plant like those East African finds - this comes out as condensate, beautiful !! :)

Opens the basin and not only wonderful news for BOR, but great news for FOGL with now a proven working hydrocarbon system in the South Falklands for the first time.

Congratulations to the Borders and Southern team.....and well done risk takers and investors here...bravo,,,,and it was a huge risk....

for those like me who have no knowledge .....

The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. API gravity is thus an inverse measure of the relative density of a petroleum liquid and the density of water, but it is used to compare the relative densities of petroleum liquids. For example, if one petroleum liquid floats on another and is therefore less dense, it has a greater API gravity. Although mathematically, API gravity has no units (see the formula below), it is nevertheless referred to as being in "degrees". API gravity is gradated in degrees on a hydrometer instrument. The API scale was designed so that most values would fall between 10 and 70 API gravity degrees.

Congratulations Pro , well done.

floats on water .... don't like the sound of that cynic . is that good ?

walking on water is better :-)

Cynic, for first thing in the morning that's a cracker! :o)

Its the way he tell's them

So it is!

So it is , Frank Carson New's at Ten

From Merchant Securities, and I agree very much with the last part ref-FOGL


Borders & Southern Petroleum (BOR.L) Oil & Gas
UNDER REVIEW

Darwin well makes gas condensate discovery

Borders & Southern announced a “significant gas condensate discovery”. Good hydrocarbon shows were encountered from 4,633m down to 4,810m. Net pay of 67.8m was encountered (above the 55m pre-drill estimate). Average porosity is 22%. The company will be able to comment on the liquid content of the reservoir after fluid samples are analysed.

The question now becomes one of assessing whether the liquid content in the gas will be sufficient for the reservoir to be commercially viable on a liquids-only basis. We are very cautious about arriving too early at a positive conclusion for the commerciality of the condensates. At present, we are reluctant to ascribe value to the gas discovery. We keep an open mind for this eventuality, especially given the excellent quality of the reservoir (high recovery rates) and the liquids rich nature of the gas.

; The presence of condensate confirms that the South Falkland basin is conducive to the generation of liquid hydrocarbons. However, due to the close proximity of the Darwin and Stebbing prospects we believe that the probability of finding gas condensate at Stebbing has increased and the probability of finding black oil has decreased.

The read across for Falkland Oil & Gas is somewhat more positive to the extent that the larger scale prospects of Falkland Oil & Gas would make a liquefied natural gas project more viable. We also note that Falkland Oil & Gas has prospects which are deeper into the area that is conducive to oil generation.

there is no shortage of gas worldwide especially in the US, it may wll be the case that the huge cost of development and extraction will mean this discovery has little or no commercial value.

hali - i think you're right; see also my comment just posted on BOR

have bitten the bullet on these too ..... if i read correctly, fogl's drilling prog is now delayed 6 weeks, so there is little immediate upside with the bor find now pretty much confirmed as just gas (condensate) - it's in the wrong region i'm afraid

Bought another 26K FOGL just now. Bought more BOR earlier at 87p.

There is MORE news to come from BOR, imo.

i don't dispute that there's more news to come, but unless it's a confirmation of oil, and at least a fair bit of it, then ..... :-(

My portfolio is starting to turn into these.....could not resist ....so I snapped up some more....

Well, I now hold 326K fully paid for FOGL's :)