Borders & Southern Petro... Share Discussion Threads

[whoppy] 21/8/2015 12:38

Yes cash pile will reduce although they have enough for 2-3 years with no operation. But they will get a farmin partner who will JV 50% and reimburse historical costs, giving BOR cash to fund the next couple of drills.

Now is the time to drill with costs down 40% and rigs available. It's just getting a partner to come in and drill. Noble are quite good at drilling success, they have the highest in the industry 60%..and they kind of know the attractiveness of BOR's discovery and follow up, they have the cash, they have the appetite, they have a rig..they just don't have BOR..although they have more than enough on their plate with FOGL..

BOR is more a car ready to drive..you just need to fill up with petrol turn the engine on and drive. With FOGL you have to do a bit more poking around, and make sure the car has oil, before driving it around. But it will be a bigger car!

[bustedflush2] 21/8/2015 12:27

BUST soon.

Cash pile nearly gone.

[whoppy] 21/8/2015 11:07

It's just sentiment. Oil is a finite resource and it won't be sold forever at $40 a barrel. As the glut gets used up and a there is a cut back in production, even a small cut signals to the market a change, then everyone will say hey oil is too cheap..lets bet on it going up. China are going to need oil, the market gets hung up on China's economy and throws a wobbly at it not hitting it's 7.5% growth target..oh it's 7% or 6.5%, disaster!. The markets are run by headless chickens running away from one bad story and bumping into the next. Nobody keeps calm and carries on anymore.

I think BOR will sit quiet get it's farmin partner and go drilling. Humpback is a news story that will have ramifications. If they are positive, today's price is a snip with close to 1Bn barrel of reserves..can you believe that..a company with so much resources which the world will want to use and it just sits there..by the time they get it out, and when they get it out it will be in large volumes the world will be begging for it.

[ohisay] 21/8/2015 10:48

Why would folks sell now when BOR have 2p/share in cash - enough for 2 to 3 years as a minimum - and Humpback ongoing which could derisk a lot of their prospects?

Why buy in in the first place if the current maths favours BOR?

[whoppy] 20/8/2015 14:59

Is that 278k @ 3p a buy shown as a sell?

[wordog] 19/8/2015 17:22

I wrote this one off a long time ago. The little holding I have at 8p ish has gone down as my worst ever performing share. There is some hope, but I'm not expecting much.

[whoppy] 19/8/2015 11:43

Ridiculous spread 27%.. 2.75/3.5 that will put buyers off. Wonder why?

[bustedflush2] 19/8/2015 11:35

BUST soon.

[whoppy] 18/8/2015 23:22

Loads of chat going on the other FOGL boards about one legged pete's brother ROB..haha! Read that backwards...then there is mention of ROB bringing home the bacon and that you need bacon in a bacon and lettuce tomato sandwich. Hmmm..now who has BLT as an epic?? I wonder if that is BOR's new partner?? LOL

[buywell3] 18/8/2015 16:59

At what cost ?

[ohisay] 18/8/2015 16:45

Don't forget the BOD has 14% of the company.

[barvin] 13/8/2015 15:33

Let's hope they can get an uber cheap rate on rig extension. These statements coming from a Premier Oil non-exec and relate to deep water rigs. This is encouraging as poo was $60+ on June 5th.

hxxp://www.digitalenergyjournal.com/n/I_hope_a_couple_of_drilling_companies_go_bust/410ddaf9.aspx

[whoppy] 13/8/2015 14:07

Ah, the rig has a further 8 well option slots, so nothing new.

[whoppy] 13/8/2015 13:45

Wordog, I think if humpback has HC's it will bring all of the SFB into play...including BOR's prospects, even at current oil prices. FOGL partnering with BOR would make sense considering BOR's position. And Nobel would want to consolidate it's footprint in SFB. Certainly the FIG would want all of the licences drilled properly and it's easier to deal with current partners if they feel that the Falklands will be a major hub for southern hemisphere oil and gas.

[whoppy] 13/8/2015 13:34

Option has been extended on drilling rig ER until end of 2017. Why would they do that??...do they already know they need to drill more wells? and they won't have problems funding it??

hxxp://www.ocean-rig.com/fleet/rig_availability

[wordog] 13/8/2015 13:08

Do we think a success with humpback could bring Sharnhorst into play?

[whoppy] 13/8/2015 11:22

It would be ironic if Humpback was a Gas/Condensate discovery. It would put BOR in a different perspective when comparing the two. It could be a bacon saver.

[barvin] 13/8/2015 10:57

£10m cash at the mo, £3m cash burn per year

[bustedflush2] 13/8/2015 10:51

BOR have cash for 7 months max and NOT 2-3 years.

[barvin] 13/8/2015 10:49

A few rumours on iii FOGL of success at Humpback for FOGL as you would expect at this stage, which would be great for BOR and the SFB in general.

They have cash for another 2-3 years on current running costs, lets hope we get a takeover from FOGL which could well happen in Q4 2015 or Q1 2016. The sooner the better for them before Obee/Fleming burn through more cash. Get them sacked and get a realist negotiating with Noble/Premier with previous success. Best thing that could happen here imho, although 6p max based on current share price.

They failed to secure a farm out in just under 3 years at prices and capex at double todays. So it will certainly be a tough one to pull it off regardless of Humpback success.

[bustedflush2] 13/8/2015 10:30

BUST soon.

[whoppy] 13/8/2015 10:25

I'm sensing some interest in BOR. Don't know what exactly but a drill maybe on the cards. That would mean a farmout partner. At this bombed out price, watch trades closely for clues.