.

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....

Just had to bank something Prosels......can always jump back in if necessary.....just too exposed I was.....

Exactly - as you can see from RKH - it all goes flat and duff when they stop drilling.

While they are drilling the stocks are hot hot hot - and BOR will be hot into the Stebbing well.

Comment from the FT sector watcher:
"We spoke to management yesterday who claimed that the rumours were entirely unsubstantiated, nevertheless the market is taking a different view, with an astonishing 20m shares traded yesterday. In terms of the impending well result, which is likely any day now, I think there are four possible scenarios: (i) a dry hole – shares likely down 30-50% although the downside would be limited by the fact that it has another firm well to drill, (ii) gas discovery – shares flat to down as gas is perceived to have little to no value offshore the Falklands, (iii) gas plus liquids – depending on the size of the discovery, it is likely to be taken pretty positively, (iv) an outright oil discovery with a big oil column – shares likely to double, but again this would be dependent on the size of the discovery. In the best case, i.e. if Darwin meets the pre-drill estimate of 760m barrels recoverable, this is theoretically worth around 1300p/share on our modelling. However, it is unlikely that the market would ascribe full value to the find immediately, which has also been the case with Rockhopper and its c400m barrel Sea Lion find to the north. Nevertheless I’d still see scope for the shares to increase three or four-fold from the current level of 108p/share."

The waiting period seems to be in effect now.

Whoever is buying knows that by stagnating the price its now going to tempt many people into selling some, selling half or whatever to derisk in case bad news comes.

So they sit now, not driving the price up, just letting it fluctuate - holding it around a range and now hoovering up all the sells.

The price action is saying perhaps Monday RNS - lots of stock will get hoovered up today and tomorrow and then - its RNS time.

I have offloaded all my long spread bet positions in BOR, but not sold any shares.

The profit from the SB's will now see me fine if BOR share price collapses to around 50p - I will end up with no loss and no gain and still all my stock ahead of Stebbing drill.

Sit back and relax now and either enjoy the good news or simply smile and laugh at bad news.

You have to be in it to win it, at the risk of not winning of course.