.

BOR were quite explicit - no news until wireline is done, results are known and have been interpreted. And we know from RKH this takes 4 to 5 days from completion of drilling.

http://www.investegate.co.uk/Article.aspx?id=201203160700114668Z

.........A further announcement will be made once the well has reached total depth, the wireline logs have been run and their interpretation completed.............

So a fair assumption is gas and oil have been discovered but we don't know how much yet.....this is very promising for the rest of the drilling campaign until the autumn.....

Sp taking off again......blimey !...

Desire did pretty much the same thing, share rally whilst before drilling reached total deph and results known then fell back on news of dry hole. We're still in the hype stages and you all know this is the volitile time. Until official news is released the oil/gas/water speculation is just that. Holding June futures for both BOR and FOGL I'm nicely in profit and will look to reduce my holding of BOR at 135 my initial target price having bought back in Feb.

Interestingly or not FOGL are not moving....strange...

In auction.....any news anybody...?...

it is indeed somewhat strange about fogl, but i still have my initial purchase here from yesterday having sold the top-up, and provided oil does not turn into water, fogl (and rkh) will move sharply enough in due course

RKH ? The Sun said today they are having problems with their CPR......... oh dear.......

Read The Sun link in full on the Sun website.......... delays and problems with the RKH report...........

The Sun??? ..... you mean the stuff i've been enjoying in dubai for the last week?

What is CPR,mention of RKH.

http://www.thesun.co.uk/sol/homepage/news/money/article4265337.ece

Falklands phwoar

HOPES of more black gold being discovered off the Falklands sent shares in an oil minnow soaring 55 per cent last night.

BORDERS & SOUTHERN was forced to play down talk it had made a strike south of the islands — as excited investors piled in.

But a spokesman refused to rule out success at the company’s “Darwin” field. Sources in the Falklands claimed the company HAD made a bumper discovery but was currently evaluating its size and scale.

A crew change on Borders’ rig two days ago is thought to have seen workers returning to Port Stanley fuelling rumours that have been fizzing around the internet.

One analyst conceded amid the confusion: “I guess it’s just speculation as to a positive result.” Borders’ share price soared 38.50p to 108. FALKLANDS OIL & GAS, which has interests close to the Borders field, climbed 24.25p to 93.

Two years ago ROCKHOPPER reported a discovery to the north of the islands.

Its “Sea Lion” field is estimated to contain 700 million barrels.

But an independent survey to confirm the strike has been hit by delays.

RKH valued at 1 billion pounds they have found oil and gas they have been fully appraised the Sea Lion field we are waiting on the CPR confirming that they have 400 to 700 million of barrels in place.

BOR valued at £500 million, they so far have found no oil or gas, we are awaiting results until that time it’s no brainer what is over valued at this present time.

I see OEX just put out a "no reason for rise" RNS.

Cause there was no reason for the rise...........simple.

I've taken the decision to sell 50% at an excellent profit....just had to as my average was 70p or so....: it almost gives me a free ride on the rest (not quite).....did not want to do it but just had to.....hoping this now is a discovery (a big one)...but you just can't count on it....keeping my FOGL 100% of course....

Good for you rf. Profit in the bank. Spend wisely!

i was out at 124 :-)))) GLA

I won't be too happy if this goes pearshaped....but I was getting very nervous.....more relaxed now.....and will be delighted if Borders have hit crude in a big way....but I got my fingers burnt on DES before....how does the expression go : once bitten, twice smitten.....something like that.....

Even if BOR strike oil what next? the rigs going fresh money has to be raised to full appraisal on field in the next few year,.plenty of time to get in.....if no oil this will drop like a rock......gas is no good at this stage.

Its the follow on prospects rf. Darwin is good BOR have at least 5 follow on targets of the same type.

There could be hundreds as they only have seismic over a small area.

Its the sheer scale of the potential - the North Falklands is like a little puddle and this is on the Great Lakes.

Massive massive potential here and FOGL - and the market will appreciate that should there be an oil strike.

Another BOR spud after this....different target....and then FOGL's wells......plenty of opportunities left....