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Borders & Southern - Here we go (BOR) (BOR)     

Proselenes - 15 Jun 2011 08:54

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hlyeo98 - 22 Jun 2012 07:59 - 908 of 1086

It will be down today.

markymar - 22 Jun 2012 08:26 - 909 of 1086

It made it go up a whopping 1.5p....... back down today

watch out for that swarm!!!!

required field - 22 Jun 2012 08:53 - 910 of 1086

Any news Marky as you have your finger close to the pulse ?.....not sure about Borders for oil, but I really think that FOGL have some big hydrocarbons on their acreage....even Borders has gas....and perhaps a lot of it !

markymar - 22 Jun 2012 09:36 - 911 of 1086

if u had ur mail box open i dont mind telling you why.......

Proselenes - 22 Jun 2012 10:49 - 912 of 1086

Still blue and up, on a market down day (as is FOGL).

Certainly interesting, must be some good things happening imo.

Shortie - 22 Jun 2012 15:48 - 913 of 1086

You spoke too soon.

tony727 - 22 Jun 2012 15:51 - 914 of 1086

Rig broke ??

Shortie - 22 Jun 2012 15:53 - 915 of 1086

BOP possibly, who knows, in the meantime an update on Darwin would be nice.

cynic - 22 Jun 2012 16:02 - 916 of 1086

i could very easily be wrong, but the continued lack of enthusiasm for this stock indicates to me that there is no good news imminent ....... with that in mind, i have reduced my holding in fogl (i don't hold bor) to pretty minimal - that is to say, even if sp dropped to zero, there would not be excessively painful damage

halifax - 22 Jun 2012 16:20 - 917 of 1086

cynic seems sensible to us.

Shortie - 22 Jun 2012 16:52 - 918 of 1086

Maybe they bank with RBS and the workers are all demanding their wages before they drill any further!

required field - 22 Jun 2012 17:20 - 919 of 1086

There was no point in buying FOGL in the first place then ??....up at close of day...and far more buys than sells for BOR as well.....could go either way....FOGL is the one to be in.....

required field - 26 Jun 2012 13:11 - 920 of 1086

Loads of buys going through....strange......any news ?.....

required field - 26 Jun 2012 18:51 - 921 of 1086

Very large buys gone through !...

chuckles - 26 Jun 2012 21:37 - 922 of 1086

What's the point in these wild cat outfits? Chance of success is usually exaggerated and most have less than a one in ten chance, better to put the money on a nag with nine other runners, theoretically the same odds of winning and with a bit of work, even better. Tadah

greekman - 27 Jun 2012 08:04 - 923 of 1086

Chuckles,

When I see comments like yours, 'What's the point in these wild cat outfits? Chance of success is usually exaggerated and most have less than a one in ten chance', that to me says it all.
It is the 1 in 10 chance that we invest in, when we chance our money on these Wild Cat Outfits, as high risk hopefully equals high reward!
If we wanted more secure investing we would go for FTSE 100 type companies.

Any the actual point of these wild cat outfits, is that without them, very little oil would be found.
These outfits proceed the more secure, lower risk, profit companies.

Proselenes - 29 Jun 2012 01:42 - 924 of 1086

Looks like an update might come out pre-AGM noting that the Stebbing results will be perhaps a couple more weeks before coming out - just a small delay, no bad news as far as I know.

Lets see. Will be time to buy some BOR if that is the update.

markymar - 29 Jun 2012 08:08 - 925 of 1086

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Proselenes - 29 Jun 2012 15:19 - 926 of 1086

Borders and Southern AGM presentation today, link below.

http://www.bordersandsouthern.com/media/pdf/AGM2012.pdf

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Proselenes - 29 Jun 2012 15:42 - 927 of 1086

faldiz attended the AGM and these are his notes :



"..............AGM was very lively, with one or two people challenging the limited information coming from the company.

It's a point that has puzzled many of us, but to my mind the following points explain it:

- "how could [an oil major] make a hostile bid without knowing what we have"

- may want to bid for additional open licences

- Board hold about 60m shares between them [more than in any other FI explorer] - want to maximise value

The board is experienced, oil exploration is competitive - they want to keep competitive advantage.


I'm not going to try to reproduce all of the technical detail (there was quite a lot) - hopefully Gramacho and others will fill in, but what I will to is give some impressions:

As to what they have: Darwin (east + west) is 1.88 TCF gas minimum, 2.5 best, 2.88 max.

liquid content: board would not be drawn at this stage, but a chap who has consulted for both BOR and now FOGL was willing in conversation to put it at 50m to 150m barrels per TCF, but most likely around 80-100. which gives us around 200m barrells most likely but range 100 to 420. Commercial needs to be 'in the hundreds" (Obee).

--> my view is it will be commercial. Full analysis 10 weeks from 18th of June, but some results, eg liquids content sooner - perhaps a few weeks.


Some revealing comments

- there will be another BOR campaign, it will be 5+ wells, mixture of appraisal and exploration. (Obee, response to question)

- "they will still be drilling in FI in 40 years time" (Dobson)

- BOR prospects "have best potential i've seen in 20 years in oil industry (mostly BHP)" (Fleming)

- Looking for rigs now

- would have first call on 5th slot, but at moment not certain/available

Burgess and Bute would be order 1bn barrells, if successful.

SP will rise, just wait for fund raising time.............."
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