Borders & Southern Petro... Share Discussion Threads

[brazilnut1] 05/4/2022 08:47

Nothing normal about this useless mob. Waste of oxygen.

[mesquida] 05/4/2022 08:08

Rather surprised that today's RNS does not detail exactly what percentage of the basic entitlements was taken up and what the total number was in respect of the application for excess shares. Instead the company has simply merged the two issues together, I do not believe that this is normal practice.

[cyan] 04/4/2022 17:27

Hi again whoppy.

Will BOR also commercially produce/exploit the Propane and Butane as well as the condensate?

I note the word 'potential ' here;



'GCA's work investigated the potential to produce the LPGs (Propane and Butane) in addition to the condensate.'

The whole relevant paragraph;

"Composition analysis of the hydrocarbon samples collected in the Darwin discovery well (61/17-1) demonstrated that the gas is a very rich, sweet gas capable of producing liquid condensate and LPG. Borders & Southern has previously discussed development concepts whereby the liquid condensate could be produced and the "dry" gas re-injected back into the reservoir, allowing it to be available for a future LNG project, subject to commerciality. GCA's work investigated the potential to produce the LPGs (Propane and Butane) in addition to the condensate. They prepared a revised Equation of State model of the rich gas and updated the dynamic reservoir model for Darwin East and Darwin West. Utilising six vertical production wells and four vertical gas injector wells (five wells on each fault block) they derived the following best estimate:..."

[whoppy] 04/4/2022 16:31

Cyan, the gas is liquid at surface. This is LNG, condensate whatever you want to call it. It's liquid and will get pumped to a FPSO. The gas that gets reinjected back into the reservoir is not liquid at surface and is a by-product and not as valuable. Call it cooker gas if you want. For oil wells, this gas usually gets flared. But nowadays it is pumped back into the reservoir. The valuable gas is the LNG. This is transported by LNG tanker. When it gets to a LNG terminal it can be processed into gas by re-pressurising it, and LPG and Butane. In liquid form, far more gas volume can be transported. The is what makes the Darwin discovery so rare and sought after.

[cyan] 04/4/2022 15:36

Good afternoon whoppy.

Forgive me for commenting again . I find your use of "LNG" a bit confusing;

LNG stands for Liquefied natural gas

Liquefied natural gas (LNG) is natural gas that has been converted to a liquid form for the ease and safety of natural gas transport.

BOR proposes that the dry gas you use in your cooker will be re-injected.

Some comments;


Extract;

"The study concluded that the most likely development option would be subsea wells tied back to an FPSO for processing and storage of the condensate, whilst re-injecting gas back into the reservoir to maximise liquids recovery. The condensate would be offloaded via shuttle tankers for export."

This is BOR's plan.

To exploit the dry gas and turn into LNG would require a hugely expensive FLNG; BOR are NOT proposing to liquefy ; to produce LNG.

Everything you need to know about FLNG

[whoppy] 04/4/2022 15:12

Yeah, They had a partner in 2013 ready to sign when oil was $100, but they pulled out at the last minute not being able to agree commercial terms as Borders was gas and not oil, and so didn't fit their strategy. I would think LNG gas is more sought after now.

[brazilnut1] 04/4/2022 14:54

Yes well aware but Oil has been at $120 before and nobody interested then either. IMO it will take a major player who doesnt care about Argentina to come in and develop it as we have no money. Question is who ? Just not seeing it. Sorry.

[whoppy] 04/4/2022 13:43

brazilnut, you must be aware of the need for alternative LNG supplies, and that oil is £100 per barrel. This is a money making project ready to go. Just needs some finance for huge returns. Opportunities like this don't come around often. If BOR isn't 25-50p by year end I'd be surprised.

[brazilnut1] 04/4/2022 12:14

Whoppy Whoppy Whoppy.
"The rich liquid gas (LNG) that gets produced will be offloaded to an FPSO". Really ? One thing you seem to be missing.
The gas is still in the ground and aint coming out so all the above is, Im afraid, just noise and a waste of oxygen but nothing else. Wish it wasnt but it is.

[whoppy] 01/4/2022 10:23

The rich liquid gas (LNG) that gets produced will be offloaded to an FPSO. Due to the nature of the gas it is liquid at the surface. It also has high petroleum/butane content which can be stripped and can be used as LPG. Both LNG and LPG are very valuable and in short supply. They can't re-inject back the LNG. Why would they do that? The dry gas would get re-injected. The re-injection of the dry gas makes the Darwin development even more profitable by being able to drive the reservoirs to maximise production which gives it a lower carbon footprint making it a greener project.

[cyan] 01/4/2022 10:00

Good morning whoppy

You wrote;

"Now Europe is about to have the gas taps turned off."

Its just a shame that BOR are not able to propose an economic plan to exploit the GAS.

Their development proposal involves commercialising only the LIUIDS; they intend re-injecting the GAS.

To exploit the gas would require its liquefaction; a FLNG vessel which are extremely expensive.

[brazilnut1] 01/4/2022 01:22

There is no prospect of 50p here, not a hope. Just noise from rampers.

[mvp1689] 31/3/2022 20:10

Have a bit of optimism Brazil Nut as a shareholder you should be excited at the prospect of 50p per share minimum :)

[whoppy] 31/3/2022 17:34

Now Europe is about to have the gas taps turned off.

[brazilnut1] 31/3/2022 14:20

Oil has been here before and nowt happened. Same will happen this time.

[whoppy] 31/3/2022 10:08

How can anyone sit and wait when oil is $110. The time is now while the oil and gas price is high. That's what determines investment.

[brazilnut1] 31/3/2022 09:07

Lets be honest with ourselves. This is going nowhere. Just administration as will run out of money before anything is done. Anyone interested will sit on the sidelines and wait for it to die. £4b 😂😂

[brazilnut1] 31/3/2022 02:10

Ye ye ye but exactly what Im saying. Cant execute or complete anything apart from drawing excessive salaries for last 10 yrs.

[whoppy] 30/3/2022 16:45

From 2014 Annual Report

"It is worth noting that companies that have entered our data room have found the technical merits of the project very attractive. Darwin is a gas condensate
discovery with a high liquids component (46 to 49 degrees API). This means that
it has the condensate gravity typical of an ultra light crude oil. Those potential
partner companies that undertook detailed technical analysis confirmed that, following a successful appraisal programme, an FPSO development would be commercially viable.
In some cases, farm-out talks advanced from technical to commercial discussions. Unfortunately, these negotiations ended before a deal could be secured, either due to a change in the potential partner’s strategic focus or because terms fair for both parties could not be agreed".

[whoppy] 30/3/2022 16:25

They did get a farmout partner in 2013. But the partners strategy changed at the last minute.

From 2013 Annual Report.

"Darwin appears to be a relatively simple discovery with good quality reservoir. We have been very close to completing a farmout, having negotiated commercial terms, only for transactions to break down at the last minute due to external factors unrelated to the project".

"In the last quarter of 2013, in anticipation of closing out a farmout, we initiated a rig search for a harsh environment, deep water rig for the next drilling campaign. When our farmout negotiations broke down we passed over the lead for the rig contract negotiations to our Falkland Islands rig consortium partners. Even though we will not have secured a partner prior to the signature of the rig contract, we will be able to join the consortium at a later stage".

[brazilnut1] 30/3/2022 15:45

Whoppy I know most of what you say is correct but its not about what we have in the ground, it's about the hopeless bod who have achieved nothing in the last 10 years. Best being taken out for 50p and run like hell.

[whoppy] 30/3/2022 12:18

The proceeds of the Fundraise will also be directed towards securing a partner to help monetise the Darwin discovery. The liquids rich, gas condensate accumulation, has been independently assessed by Gaffney, Cline & Associates to contain contingent and prospective resource of 462 million barrels of condensate and liquified petroleum gas (report dated 15 January 2018). The Board firmly believes that the discovery can be commercialised for the benefit of all its stakeholders, including both Shareholders and the communities of the Falkland Islands.

The Company expects that in the current year it will provide further updates as to how it intends to move to commercialise the Darwin discovery asset.

[whoppy] 30/3/2022 11:41

If the asset was questionable, I would agree, but things have changed in favour of Borders and it's discovery of LNG/LPG is not without question. It's in so much demand. The volumes at Darwin can't be ignored. There is now huge pressure out there in the global gas markets with many LNG projects years away from first production. Borders Darwin discovery is a fast track high producing quick payback project with about 5 billion barrels of other similar lookalike 3D targets. The basin has been proven as a hydrocarbon producer of high quality gas which is very rich in liquids, light oil and condensate. Huge demand for this type of gas which will only grow. Something got to give.