.

Crumbs .....it is gas....thought it was oil....but a lot of it....

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.

I would think that the sp will be volatile....it does mean that much more is to be discovered.....not a bad first well outcome.....

Sp has to rise.....by a lot....and FOGL as well.....

i know i am singularly stupid, but how can GAS condensate be more valuable than oil?

Hey...it says pay zone and liquid content.....it does not mention what kind of liquid ...so ?...gas or oil...is it me or am I not reading this right ?...condensate is expensive I know that....

Top of reservoir is Gas condensate deeper in the basin will be oil .........

Oh...great...it's back to square one.....is it a strike or not ?...

Make no mistake BOR and FOGL will rocket on opening...

Condensate is liquid oil as well, but very high API, if you like over 45 API.

Its the top end stuff - if you like its half refined oil - liquid gasoline.

As its all top end stuff its very easy to refine and so more valuable than Brent Crude.

SP will soar....hang on to your hats !....

Calm down my dear its only a big oil/gas find

sort of understood and thanks for some elucidation ..... i thought LOWER API was the better .... anyway, sit and watch time, though i would expect many PIs to be as thick as me, but the opening bell will give the clue

Bravo...all.....sp will shoot up...50p....just like that...

elucidation .... that's a new word for me

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.

Big implications for the UK economy with our dependence on gas imports to be reduced....pound to rise today !...

never mind i suppose gas is better than nothing probably red here today

Target price upgrade to 450p a share.

Borders & Southern – Darwinian revolution....Mirabaud

Today Borders & Southern Petroleum announced a basin-opening gas-condensate discovery at the Darwin East exploration well – the first ever deep water well in the South Falkland Basin (SFB). Borders’ 61/17-1 well encountered 68m of net hydrocarbon pay in a good quality (up to 30% porosity), shallow marine reservoir which corresponds directly to the area of high amplitude identified on 3D seismic data pre drill. Although the exact liquids content of the discovery remains unclear at this stage, the structure covers some 26 sq km and our back-of-the-envelope calculation suggests the field could contain c.480 mmboe of recoverable condensate and gas. Furthermore, looking forward there are numerous lookalike prospects across Border’s acreage with similar structural and seismic attributes that have been materially de-risked as a result, and we would point to the success of explorers offshore East Africa as an example of how a string of remote gas discoveries can lead to the creation of very substantial value utilising a cluster LNG approach. Overall, we view the results of Darwin East as a promising start to the current SFB drilling campaign and maintain our BUY recommendation on an upgraded target price of 450p/shr – offering some 266% upside to Friday’s close.

oil turning to gas not much better than oil turning too water aka des lol

HOIL hit £4 plus based on an oil find and drop to £1.50 when their find was labelled gas. AUL went from 86p to 18p when their oil turned to gas, you could go on and on.

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