.

I think there is still significant news to come, from ongoing wireline.

As I said earlier, perhaps an oil show zone from 4776 meters down to 4810 meters.

Will be good to get the final completion of wireline RNS and a full run down on all reservoirs found and what they contain.

As of now, wireline is still ongoing and not yet complete.

I hope you weren't probed in any uncomfortable places rf???

RF where does the pipe line go to ? RF please get your head round this they dont need gas they need oil hence Bor is not worth the 400 mill price tag on it with one drill left.......30p if the next drill fails.

Pro now ramping they have 16 other gas fields......u got to laugh at that now.

To get oil out the ground RKH are talking 2016

Bor gas may take 10 years or more it may also be poor mans gas hence an even bigger fall soon.

MrP - that'll be 2/3/4 months away

sooo true marky.,.

Nobody say anything i think Pro has worn himself out and fallen a sleep with all that ramping today....

well would expect more south here and fogl - no one interested in uncommercial liquid gas, the location doesnt help - not sure if ut was here or somewhere else earlier today someone was banging on about a gas find ending uk gas shortage - what a load of crap - we can buy cheaper from current supply countries such as Norway and others so whoever thought that is way off the mark gla

Just because LNG has been found in Darwin it doesn't increase or decrease the chance of oil or LNG being found in Stebbing. For me I accept that Darwin appears to be uncommercial at this time. This may not be the case in 5 years time so has potential future value. Stebbing potentially due to its size could hold a combination of oil/gas. Darwin has proved that both the north and south of the islands holds potential rich pickings for explorers. Maybe the islands will prove to be the hot exploration area to be in.

BOR is the sideshow until the main event happens.

I cannot complain though. Buy in price averaged low 60's - long spreads closed over 110's - 75% shares sold in high 90's av yesterday and now purchased some back late yesterday at 87p.

My profits from the BOR sideshow are 5 figure ones - so I really cannot complain. Thats what stock markets are about, making money - not being nice to people or following them around with stupid posts or getting recommendations for posts.

With FOGL and BOR I have been suggesting to people to buy months ago and just be patient and wait. BOR managed a 100% rise and is still, today 50% up for those buying a few months back.

From todays price for FOGL I expect it to over double before the Loligo prospect results are known.

Lets not forget, Loligo is in "prime oil window" - it has over 15 billions barrels of oil in place (for GKP holders) potential with recoverable barrels of potentially 4.7 billion (bigger than Shaikan). And that is just P50 numbers. BOR has proven today that massively thick sandstones are possible in the South, Darwin beat pre-drill estimates for thickness. Loligo on P10 figures is bigger than all of GKP. And that is just one prospect from an inventory of over a hundred in a place where seismic has not been done over all the licenses areas.


To put it into context :

Darwin is the smallest drill.

Stebbing (next up) to be drilled by BOR is 4 times the size of Darwin.

Loligo (next) to be drilled by FOGL is 16 times the size of Darwin.

Scotia (greatly derisked again in terms of sandstone from the Darwin drill) to be drilled by FOGL is just under 4 times the size of Darwin.


Darwin - prime for gas

Stebbing - borderline, potentially more chance of oil than gas.

Loligo - prime for oil in the top 4 reservoirs, could be gas in the bottom reservoir.

Scotia - prime for oil.



So why did I buy back at 87p on BOR ?


1/ Wireline is not complete - there is more news to come. The RNS is clear that wireline has not been completed yet on this Darwin East well.

2/ There is 92.5 meters of hydrocarbon shows that have not been accounted for yet - the only reference so far is to a "main" reservoir thickness. The lack of info maybe due to wireline has not been complete as per item 1.

3/ Oil shows potential below 4776 meters in a separate structure. I am very interested in what they have found from 4776m to 4810m. Darwin was said to have potential for stacked reservoirs.

4/ Fluid samples from "main" reservoir have been sent to the UK for testing - its only after these results will there be given a volumetric update for Darwin - to let everyone know just how much is in there - and do they think that Darwin East is linked to the Darwin West (presently not drilled) structure - and how much could be in Darwin West based on Darwin East results.

5/ Stebbing has the same source rock - so we are assured there should be hydrocarbons there. However Stebbing is 1000 metres shallower and is just in the oil mature window where as Darwin is in the gas mature window. Given the same source rock but Stebbing being shallower and in the oil window - well - at the very worst Stebbing will perhaps be a condensate discovery of 4 times the size of Darwin, whatever that ends up to be - at best it will be circa 25 API oil (target for Stebbing)

6/ BOR had predicted pre-drill that in the event of oil - Darwin would be 32API oil and Stebbing would be 25API oil - sharing the same source rock.


Even without more news when wireline is complete and waiting for news from the fluid samples that does not come - I suspect 87p will also be cheap when the Stebbing drill results near in about 7 weeks time and if not so be it, I now cannot lose more on BOR than what I have already taken in profits, and that is the name of the game.

And to remind people :

As you can see Darwin is prime for gas (red area). Stebbing is more likely to be oil (green area)

Loligo and Scotia targets for FOGL are in the oil window (green) - much more likely to be oil



.

BOR is the sideshow until the main event happens.

I cannot complain though about BOR. BOR buy in price averaged low 60's - long spreads closed over 110's - 75% shares sold in high 90's av yesterday and now purchased some back late yesterday at 87p.

My profits from the BOR sideshow are 5 figure ones - so I really cannot complain. Thats what stock markets are about, making money - not being nice to people or following them around with stupid posts or getting recommendations for posts.

With FOGL and BOR I have been suggesting to people to buy months ago and just be patient and wait. BOR managed a 100% rise and is still, today 50% up for those buying a few months back.

From todays price for FOGL I expect it to over double before the Loligo prospect results are known.

Lets not forget, Loligo is in "prime oil window" - it has over 15 billions barrels of oil in place (for GKP holders) potential with recoverable barrels of potentially 4.7 billion (bigger than Shaikan). And that is just P50 numbers. BOR has proven today that massively thick sandstones are possible in the South, Darwin beat pre-drill estimates for thickness. Loligo on P10 figures is bigger than all of GKP. And that is just one prospect from an inventory of over a hundred in a place where seismic has not been done over all the licenses areas.


To put it into context :

Darwin is the smallest drill.

Stebbing (next up) to be drilled by BOR is 4 times the size of Darwin.

Loligo (next) to be drilled by FOGL is 16 times the size of Darwin.

Scotia (greatly derisked again in terms of sandstone from the Darwin drill) to be drilled by FOGL is just under 4 times the size of Darwin.


Darwin - prime for gas

Stebbing - borderline, potentially more chance of oil than gas.

Loligo - prime for oil in the top 4 reservoirs, could be gas in the bottom reservoir.

Scotia - prime for oil.



So why did I buy back at 87p on BOR ?


1/ Wireline is not complete - there is more news to come. The RNS is clear that wireline has not been completed yet on this Darwin East well.

2/ There is 92.5 meters of hydrocarbon shows that have not been accounted for yet - the only reference so far is to a "main" reservoir thickness. The lack of info maybe due to wireline has not been complete as per item 1.

3/ Oil shows potential below 4776 meters in a separate structure. I am very interested in what they have found from 4776m to 4810m. Darwin was said to have potential for stacked reservoirs.

4/ Fluid samples from "main" reservoir have been sent to the UK for testing - its only after these results will there be given a volumetric update for Darwin - to let everyone know just how much is in there - and do they think that Darwin East is linked to the Darwin West (presently not drilled) structure - and how much could be in Darwin West based on Darwin East results.

5/ Stebbing has the same source rock - so we are assured there should be hydrocarbons there. However Stebbing is 1000 metres shallower and is just in the oil mature window where as Darwin is in the gas mature window. Given the same source rock but Stebbing being shallower and in the oil window - well - at the very worst Stebbing will perhaps be a condensate discovery of 4 times the size of Darwin, whatever that ends up to be - at best it will be circa 25 API oil (target for Stebbing)

6/ BOR had predicted pre-drill that in the event of oil - Darwin would be 32API oil and Stebbing would be 25API oil - sharing the same source rock.


Even without more news when wireline is complete and waiting for news from the fluid samples that does not come - I suspect 87p will also be cheap when the Stebbing drill results near in about 7 weeks time and if not so be it, I now cannot lose more on BOR than what I have already taken in profits, and that is the name of the game.

With regards to LNG.

Chile is desperate for more LNG and is actively building more and more terminals as it has had supply problems with Argentina for a long time.

----------------------------

........Mejillones LNG Terminal, Chile

Key Data

Natural gas is fast becoming the preferred fuel of the future. With a supposed cleaner reputation than coal or oil as fuel for domestic use and power generation, countries around the world are fast constructing LNG regasification terminals so that they have the facilities to provide for their energy needs over the next 25 to 50 years.

Chile is no exception and with its previous reliance on Argentinean gas is now equipping itself to receive gas imports from further afield. Chile has other LNG projects under construction such as Quintero Bay and now there is also a project in Mejillones, Antofagasta (northern Chile). Northern Chile is still under severe gas supply restrictions from Argentina. Mejillones is also the area chosen for a new super port that will be completed by 2030..........

-------------------------------

Here is a presentation of where Chile is today with gas/LNG.

http://www.gnlm.cl/documentos/GNLM_Platts_10th_Feb_2011.pdf


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Even a few days ago it was announced yet another LNG regasification plant would be built in Chile, and as you can see, they are buying gas from Europe and US to ship to Chile - now would an LNG plant on the Falklands be much more efficient than shipping LNG from Europe and the Middle East all the way to South America ??

http://www.bnamericas.com/story.xsql?id_sector=9&id_noticia=583687&Tx_idioma=I&source=


---------------------------

Globally it was recently discussed that from 2016 there will be a big shortage in LNG worldwide, becoming a critical shortage from 2020 unless a lot more LNG projects get started and get into production.

If I were BOR now, and condensate levels are high at Darwin, I would start to discuss with the Falklands Government about adjusting the tax and royalty levels to make building an LNG plant onshore Falklands a very viable project. For the FIG its better to have something as opposed to nothing - and with only 3000 population and billions of dollars of potential oil and gas revenues coming in - I am sure they can be very generous. Unlike the UK where a massive welfare state hanging around the neck of the government, they must try to increase tax all the time to pay for freebies given out all the time.

Scotsman reporting 2 billion pound gas discovery, samples to be tested in Aberdeen.

http://www.scotsman.com/the-scotsman/international/significant-gas-find-discovered-near-falkland-islands-1-2251058

.

6 ramping posts and the stock market not even opened....No Oil its overpriced at 400 mill.

.

Re post 691 - 2 billion gas discovery. However, it will cost 2.1 billion to extract and get to market.

Even the gas find is not commercial here - red day ahead

you'll have pro in tears gib.,.

I don't think it is viable... sp still falling.

lol baler but i hope not - he does have some very good points also though - but the gas find is not commercially proven and to make it commercial the find needs to be massive at least 5 / 6 trillion cubic feet due to location and that type of gas expensive to process - that is well known - i hope you did well here before the drop - i guess someone like cynic might be shorting here right now