.

Starting to rise again !....ahhh,,,the safety of british waters.......Drake...Raleigh...Nelson and such....

This is a dire day for me, my cash position has still not settled and i am left standing on the train station as the gravy train departs. Brilliant week ahead.

PS - would be a brilliant week if we got some farm in news....... thats for sure.

who is PS (456)? ..... the train's gone nowehere, and even if it has chugged out of the station, another will be along in due course - i.e. no hurry; no panic


Mr P - if lots and lots of things!!!!

150p prior to Loligo drilling results.....sure....

RF - that would be disappointing.

Given the Loligo potential and based on DES and BOR - should be 200p to 250p before Loligo results.

You're an optimist.....would be nice because a free ride would be possible but I reckon they are going to hit something big !...doubt if the sp will be that high...

Numis: Borders & Southern (Buy, TP: 175p)

Opening up the South Falkland Basin

In our view, Borders and Southern's Darwin exploration well has proven a working hydrocarbon system in the South Falkland Basin, confirming the existence of an extensive marine source previously known to exist to the East and West of the company's acreage. The Darwin well appears to have hit high quality Lower Cretaceous reservoir, in-line with prognosis, with a thick, homogeneous gas condensate bearing interval.

Clearly, understanding the liquid content of the discovery will be key in determining its value. Based on the aerial extent, net pay and reservoir quality of the Darwin discovery we believe that a commercial stand-alone discovery remains a possibility.
We raise our target price from 86p/share to 175p/share, adjusting our valuation for the possibility of a commercial rich gas discovery at Darwin and a partially de-risked EMV for Stebbing.

• Opening up the South Falkland Basin: In our view, the Darwin well result helps de-risk the South Falkland Basin, confirming the existence of source rock, thick high quality sands and robust play types. Next steps in the SFB exploration programme include two important catalysts: 1) Determination of liquid content at Darwin (expected in approximately five weeks) 2) Testing the fold belt play type. Stebbing is the next prospect in the drilling schedule (expected to spud within one week) - a prospect for which the company estimates a P50 recoverable resource of 1280mmboe.

• Darwin - a potential stand-alone development: In our view, it would be wrong to rule out Darwin as a commercial stand-alone development. Detail released on aerial extent and net pay suggest a material discovery and we estimate recoverable gas at 2.3 to 3.7tcf. In our view, if the gas is sufficiently rich, a >200mmbbl condensate development remains a possibility and could be commercialised. Given the location of Darwin, we believe the most likely stand-alone development concept would involve condensate recovery with 100% of lean gas recycled back in to the reservoir - a development concept analogous to the Bayu-Undan phase I field development in the Timor Sea.

• Valuation: We have adjusted our NAV to include a rich gas discovery for Darwin risked at 50% commercial COS, and included an EMV valuation for Stebbing which now assumes a 30% commercial COS (10% oil case, 10% rich gas, 10% dry gas case). Please see note for full details. Our 175p/share target price stands at a 50% discount to NAV (350p/share) in order to pre-empt the dilutive effect of future share placings and farm-downs.

On the rise and rightly so.....

Nice :)

Quite pleased about the rise as this is by far my main share by a long way so any rise makes a big difference...long may it continue....

Surely all of these wells (on map) can't be belonged to FOGL??
I would like to find a recent article addressing the issue about when drilling is due to commence on the Loligo well? and which well after Loligo is next in line.. is it Scotia??

Where are FOGL's present oil wells that are successful??? Proselenes?

Yes...Proselenes.....I'll let you answer these.......(can't wait for the answers here....)...(snigger....stifled laughter).....)....sorry ......

Does there have to be any at this stage ? the price of FOGL was over 240p 2 years ago without any well's.

which indicates that it could not be remotely justified and was based purely on hype (ramping!)

Might break through the 100p barrier as perhaps people realise (at long last) the huge potential of this share in safe british waters.....

potential; hypothesis; hocus-pocus; ramp; black magic; smoke and mirrors ..... RESULTS are what are required

What did happen with the Toroa prospect? Were all their CSEM readings just wrong, or what??

They hit coal FoodSexMusic.