.

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.

:-(((((((((((((((((

If it's condensate :...great news....

its ok news imo gl

I seem to remember that we needed to know the results of analysis from the RKH drill before the sp really went up, so possibly going to see a muted reaction here at the open.
"Fluid samples from the reservoir have been recovered and will be brought back to the UK for analysis. Once the lab analysis is complete and the results integrated with other data collected from the well, the Company will be able to comment on the liquid content of the reservoir."

Yep liquid gas

Condensate.....is great news...this is the first well......stebbing next...

BOR 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.

ok news we want oil - if in sell early before the others do imo

then buy back later lol

3p increase....are they kidding ?...

Might take them a while to sort out the sp!

Could not get anything with my broker....

Dropping.....unbelievable....

£4.50 pro....grow up, its gas u fool.its a sell.

Not if it's a liquid....a discovery ...and it drops...

Maybe it's water... that happened before.

you can buy as many as you like at <103 = -27p

its only gas - same happened to hoil, aul and others it should drop

Its oil they want at this present time not gas hence johnson never been drilled,1 drill left if no oil 30p on cards.