.

I think I would have kept them until tomorrow at least....

Mirabaud comment :

"Darwinian revival

This afternoon Borders & Southern Petroleum announced the long awaited results of the fluid analysis on the Darwin East well (61/17-1), which demonstrate the discovery to be a relatively rich gas condensate. Two samples were analysed, one yielding the equivalent of 123 barrels of condensate per million cubic feet of gas and the other 140, with an API gravity of between 46° to 49°. In terms of volumetrics, the company estimates recoverable condensate to range between 130 to 250 million barrels (mmbbl) with a mean of 190 mmbbl. On this basis, we believe that, subject to further appraisal, the field is likely to prove commercial on a standalone basis, with the most likely development involving stripping condensate from the gas stream and re-injecting the dry gas back into the reservoir. The next step will be to digest the abundance of technical data ensuing from the recent programme, but the results so far clearly justify further drilling and we would expect the company to seek an industry partner to help take this project forward. Given the enormous running room in the basin, as well as the number of Darwin lookalike prospects already identified, we do not believe the company will be short of potential candidates.

We therefore maintain our BUY recommendation with a target price of 100p/shr."

i'm off to france at 07:00 tomorrow, otherwise might have done, or at least with part ...... missed a cunning pun earlier .... should have written "peccavi"

South Falklands now has its first commercial discovery.

If FOGL Loligo upper two targets news comes early September and its the expected 12 TCF recoverable from the first 2 of 5 targets at the Loligo drill - that will add another 100% to the BOR share price methinks.

BOR holders better keep their fingers crossed for Loligo news early September on those first 2 targets of the 5.

I doubt it !.......BOR's acreage is nowhere near Loligo or Scotia or Nimrod.....a success would make the sp rise but I doubt that it would be anywhere near 100%......and it's fingers crossed for FOGL at the moment...

RF,

It could happen.
Last night I dreamt that Loligo was commercial AND linked up with the North Sea Fields.
Shame it was only a dream.

What is really a worry is that recently I dream more and more about the FI oilies than I do about women.
Perhaps I should see someone!

Probably a wet dream............water/oilmix of course

dirty boy! go and wash out your mouth with soap

Lol

From http://www.thetimes.co.uk

Natural selection benefits Borders in Darwin gas find off the Falklands

Borders seems to have struck lucky in the Falklands even if it didn’t strike oil

Market report Billy Ehrenberg, Gary ParkinsonLast updated at 33AM, August 24 2012

It has been a long time coming, but the wait is finally over for shareholders in Borders & Southern Petroleum.Nearly five months after the disappointment of striking gas condensate, not oil, off the Falkland Islands, the exploration company has at last published the results of tests on what it found.And the results were good. In fact, they were very good. Not only is the gas condensate of sufficiently high quality to be used in plastic and fuel, but there looks to be enough to make the discovery commercially viable.

Panmure Gordon, Borders’ broker alongside Ocean Equities, had pencilled in a discovery of 160 million barrels as the minimum to make the Darwin field in the Falklands commercial.

There are between 130 million and 250 million present, Borders said, with 190 million barrels the “mid case”.Not only that, those who watch the exploration industry closest reckon the news makes Borders’ other prospects in the region much more exciting. It has ones of similar size and seismic profile to Darwin and a lone discovery would be rare indeed, experts opine.

Late last month, the company revealed that its efforts to discover more natural resources there were over for this year at least. Availability of a rig means Borders does not expect to resume exploration until 2014.Between now and then, the company intends to compile more seismic data and process what it has.

Borders is also looking at ways to lay hands on the estimated $2.9 billion (£1.8 billion) that it will take to commercialise a discovery of Darwin’s size.That will include bringing in a bigger partner with deep enough pockets to pick up the bill, in return for a hefty stake in the discovery.

Falkland Oil and Gas, drilling next to Borders and 7¼p higher at 95p, recently brought in America’s Noble Energy and Edison International to do just that.All of which spurred Borders shares 12p, or 58.5 per cent, to 32½p — though that is still well below the 131p mark at which they changed hands in April after almost doubling over four days when the bulletin boards on financial websites lit up with rumours, unsubstantiated, as it turned out, of a huge oil find.

Panmure lifted its target price for the shares from 61p to 68p, and still rates Borders a “buy”

Risen a lot more than I would have thought.....perhaps might make the upper forties...

I said yesterday and its pretty much done that :



To be fair add on a 50% farm out discount - and use the low case.

So 130mmbo * 50% * 5 US$

=$325m or say 200m sterling market cap for now.........which is 41p a share.

http://seekingalpha.com/article/826001-is-borders-southern-s-falkland-islands-gas-condensate-discovery-really-commercial


Is Borders & Southern's Falkland Islands Gas Condensate Discovery Really Commercial?

August 24, 2012 | about: BDRSF.PK, includes: FLKOF.PK

On August 23, Borders & Southern (BDRSF.PK) released results of its fluid analysis on the Darwin discovery. You can read the press release here. The results are a 46-49 degree condensate with a mean recoverable volume of 190 million barrels. BOR has also mentioned that a seismic program will be initiated starting in 2013 and future drilling will realistically take place in 2014. BOR is fully funded for the seismic; however, it will be required to raise funds to drill. BOR stock in London is up roughly 37% on the Darwin news.

Is a 190 million barrel condensate find in deep water at the ends of the world truly going to be commercial?

First, the size of the prospect is relatively small given its location. The Falkland Islands are one of the most remote places on the planet. Darwin is in over 2,000 meters of water. Contrast that to Rockhopper's Sea Lion find, which sits in 400m of water. The seas are also much calmer on the North side of the island, with the Southern area closely resembling the North Sea. The technological complexities between these water depths is very significant.

Any partner coming in is obviously going to have less than 100% of the 190MM bbls. Rockhopper had to cut a very unfavorable deal in order to find a partner to develop Sea Lion. Premier took 60% of Rockhopper's Sea Lion find, which, in total, was around 350MM recoverable barrels of oil. Borders is probably going to have to give up a similar portion or more, given the challenges with developing Darwin. If they give up 50%, the partner is going after 95MM bbls. Who is going to bring their operations to the extreme deepwaters of the remote Falkland Islands to develop 95MM bbls of condensate? Field development costs are going to be significant as well, due to the water depth, remote location, and the need for reinjecting gas for pressure maintenance. Something can be stated as commercial on paper, however, getting someone to act on it can be a different thing, given the intangibles you can't present on a piece of paper. Keep in mind Darwin hasn't even been appraised yet. BOR has a single well down. Sea Lion had a full appraisal done before the Premier farm-in. This only adds to the uncertainty of the economics for a potential partner.

I think the future of Darwin is heavily tied to the success or failure of the wells Falkland Oil and Gas (FLKOF.PK) are slated to drill this year. FOGL's massive prospects have already attracted two large industry players even without drilling a single well. If FOGL discovers significant hydrocarbons, it will turn the Falkland Islands into an oil boom that I think would give BOR the synergy it needs to attract an industry partner to develop Darwin. Any partner farming in with BOR after a discovery would be able to take advantage of the economies of scale that are going to come with a FOGL discovery, especially if FOGL finds any significant gas.

Future adjacent discoveries by BOR could also help push Darwin to true commerciality, even without FOGL finding something. Although, if FOGL comes up dry, it may be hard to attract partners to continue exploration in the general Falklands area. How hard will it be to find a partner willing to take on a relatively mediocre Darwin in a very challenging environment and continue needed exploration to try and make the project big enough to be worth it? If BOR can't find a partner, lots of capital will need to be raised through stock dilution to fund further exploration and appraisal of Darwin.

I have had BOR shares since after the Darwin discovery and sold them today after the jump in share price. The share price over the past few days shows the news obviously leaked out before the official announcement. I felt like today was a sell the news event with much still uncertain about the Darwin area and the size not being that large. I still hold my FOGL shares as I believe they are the true key to turning the Falkland Islands into an oil province. FOGL has almost four billion net BOE prospective resources in their first two wells along with having two large energy companies as partners already. Of course, this is the oil and gas industry and wild things happen, so there is a definite possibility I will eat crow on this, but with BOR so dependent on FOGL results, I think I would rather invest money in FOGL for a much better risk reward situation.

Disclosure: I am long FLKOF.PK. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Long FOGL and FLKOF

What is going on?

marked up from the start and profit taking took place
prices went below yesterday's close, so buyers came in
now has stayed around 33/33.25p were a large buyer place 25K lots on the order book, bought stock of over 500K eventualy as AT @ 33p

now the bounce back to this morning highs is on the way

why have you guys all been so quiet during my "conges a velo"? ....... don't tell me you all got too greedy and got caught by brokers putting out a buy note to get the price up and then dumping? ...... you didn't take fat profits when on offer? ..... sorry to be be so smug, but i do persistently tell you that a profit is only a profit when banked

and yes i did trade very swiftly and profitably in and out as already posted

Back in since Wednesday after the large retracement ( or capitulation )
nothing much yesterday but on the up today.

Looks like there is a bottom base now after the retracement

--------------
Is someone calling (himself ) " smug " there must be some truth on it ........... coming from the horse's mouth

neigh neigh and thrice times neigh! ..... at least i tell it as it is, and in my very smug opinion, this remains a real muppet share

smug and muppet ........

......... but it makes me money


How it has been performing for the last 5 days

i know the feeling well ... per post, i rode the momentum for 30/60 minutes and got out with a good profit .... you too appear to have banked profit but an awful lot of folks here do not understand that a profit is no profit until it's in the bank

wouldn't put it a bank..........dodgy places them r