Borders & Southern Petro... Share Discussion Threads

[gus 3000] 11/10/2018 19:14

I was in DES as well,corrupt springs to mind.

Logging said oil but it was water,insane really.

BOR is a slightly different animal,has probably more than RKH just not booked as reserves yet and no partner.

Only a matter of time,and when it happens BOR will have a higher m cap than RKH.

PMO were a bad choice for RKH in my opinion,but in fairness probably the only one at the time and still the only one now.Hope they get their final FID out of the way and crack on with production.Will be great for the RKH very patient holders and for the region in general.

What i love about BOR,is its condensate and not oil.There are not many fields left and in 2020 the whole shipping container industry needs the pure stuff.

In short BOR is a monster just sleeping right now,but still a monster.

[a.fewbob] 11/10/2018 19:13

I bought DES shares 20 years ago and stuck them in my sock draw.

Turns out my socks are worth more than my DES shares!

[a.fewbob] 11/10/2018 18:59

I bought DES shares 20 years ago and stuck them in my sock draw.

Turns out my socks are worth more than my DES shares!

[gus 3000] 11/10/2018 18:38

No buyers today,so drop the bid and hope for a worried seller in a market full of red.Can't blame them i suppose,they found 2 all day.

Long and strong here,not selling until way past farm in.

Currently valued at around at 3p per barrel,in fact a barrel of Thames water is seemingly worth a lot more.

[gus 3000] 04/10/2018 18:26

Funny old game,BOR up 15 % a couple of days ago then back down 15% over two days.Somebody has the washing machine on FULL SPIN.

Trouble is,where does it stop.I cant quite work out if somebody(s) is trying to get in or out.

Normally if out,we have a real pump and dump rather than the strange trades over the past 3 days.Timed weirdly with ARG news......... what next RKH news......

[gus 3000] 04/10/2018 18:22

ummmmmm are Noble and partners looking at BOR rather than ARG.........

I did mention it a while back......

[gus 3000] 02/10/2018 18:31

Farmin soon

market awakening finally


Key to today was the bid,we have a keen buyer gobbling up all on offer,went from 3.3 to 4.3p taking all on offer.

bodes well,very well

Grabbed another 200k today

[gunwalloe] 02/10/2018 18:14

What happened just before 1300 to move the share price 15% and keep it there for the rest of the day?? Charts or events or both?

[adg] 29/9/2018 11:57

The lighter ends actually turn to a vapour / gas as the pressure is lowered, the higher pressure keeps it as a liquid so when the liquid comes to the surface it goes into a separator which has several functions, it allows gas to flash off, it also separates out any water.
(Two factors dictate the state of a gas (temperature and pressure)
I am no process / chemical engineer but am a process controls / instrumentation / control engineer In the industry (since 1983) so will help with anything I can.

[whoppy] 28/9/2018 14:16

Surely the liquid rich gas turns into condensate at surface due to low atmospheric pressure and the leftover LPG gets pumped back into the reservoir to act as a driver and is stored for later LPG extraction, while the liquid condensate goes to FPSO for shipment. How did they get the condensate sample from Darwin in a bottle without any equipment other than a drill? It's a natural separation and 98% petrol that doesn't need much refining, it's that good.

[gunsofmarscapone] 28/9/2018 13:44

Is water vapour ‘entrainedR17; in liquid water when <100 C or does the H2O molecule undergo phase changes based on it’s energy state? Darwin gas condensate contains a number of different chemical compounds, each one possessing unique phase change temps and latent heat.

Some very basic physics being missed here!

Rumblefish asked some good questions but the nature of this particlar reservoir’s condensate is not the priority risk. I would start with regional politics with particular emphasis on Mercosur. The next risk is project economics, dealt with succinctly on the company website.

Look guys, the product of this reservoir is extremely valuable, not hugely technically challenging and has a low project break even $ per bbl.

Sorry the greatest risk is the bearded hard left nutjob and the Trotskyist who now have a good chance of flying the red flag over No. 10 and 11 Downing Street....

[adg] 27/9/2018 13:15

I haven't looked at their proposal for Darwin but I will stab at a few answers;

(1) take condensate from seabed,

- same as any other medium/deepwater FPSO but rather than try to rewrite something that has already been written 1,000 times - taken from UKOOA website - How does an FPSO recover oil and gas?
The hydrocarbons treated on an FPSO or FPS are produced through wells that are located on the seabed. Untreated liquids are brought to the surface via subsea equipment on the sea floor including valves at the well (a "Christmas tree"), a manifold to connect several wells together into one flowline, which is then linked to the vessel. These pipelines must pass from the seabed to the floating facility at the surface - and are called "risers". They must be flexible to accommodate the heaving motion of the vessel above, and be very resistant to fatigue.
(2) take gas from seabed,

- gas is entrained in the condensate and is separated out on the FPSO processing plant

(3) convert gas to liquid for transportation

- I would imagine that he gas would be separated on the FPSO processing facility and re-injected into the reservoir for 2 reasons, firstly to maintain reservoir pressure but in this case more importantly the cost of LPG/LNG plant on a floating production platform is very very high and still relatively new technology so would (as a guess) be uneconomical for this field

Hope that helps a bit

[gunsofmarscapone] 27/9/2018 00:26

I should have added, the FPSO would be field specific; optimised for Darwin’s unique mixture of gasses and liquids. Just one required.

[rumblefish] 26/9/2018 18:03

Questions are open to anyone

[rumblefish] 26/9/2018 18:01

Cheers thank you for your input
I'm sure writing a novel isn't your strong this point

[gunsofmarscapone] 26/9/2018 17:28

Rumblefish, I can attempt an answer. Open to critique.

1800 extra nautical miles to Chennai versus Rotterdam, 5 days more steaming, its a very complex business but 1.50$ extra ball park. Incidentally, Gulfport to Rotterdam is under two steaming days more than FI to Rotterdam. Incidentally while the OP was low a LOT of cargo avoided Suez charges. That said, a ‘Suezmax’; tanker would not be required in any event for the FI North and South; possibly the occasional one depending on brokerage. Study the Baltic Exchange for a whole evening of fascinating reading!

Condensate reservoirs, massively complicated. I would start with the very basics and progress to condensate blockage.

You see Q 1,2 and 3 are to an extent the same question. I would honestly start with just wikipedia before progressing to more academic material.

Storage? Darwin condensate is actually a very light oil 46-49 api so normal, unheated tanks are perfect. The LPG products, butane, propane, pentane, as any camper knows, only require relatively lightly strengthened containment. LNG ie methane and ethane reinjected into the reservoir to maintain pressure and hence temperature in a fixed volume. Not exactly Boyles law but close enough for our purposes.

Sorry I have left a big gap re your first three questions but quite honestly its too long to write, I would make too many errors anyway!

[rumblefish] 26/9/2018 14:56

Also Guns...the PSO that is part of the development plans for Darwin.(I understand it to be a large oil tanker converted)
How do they,
(1) take condensate from seabed,
(2) take gas from seabed,
(3) convert gas to liquid for transportation,
(4) and store it for export,
All of this from one PSO

You have been reporting on the BB for a long time

Please explain it to us

Rumblefish

[rumblefish] 26/9/2018 14:43

Guns...what would be the approx shipping cost for Darwin oil and condensate to India

Rumblefish

[gunsofmarscapone] 25/9/2018 19:13

Also Cyan, what exactly does Donald think he can do to increase US production. Look at Bakken shale, just trucking contaminated water costs, anyone?, 5-6$ a barrel?

[gunsofmarscapone] 25/9/2018 18:57

Mr Hangman, ha ha yes its pure waffle tbh. Clinically prone to it!

Cyan, there is no way that the BOR board would publish information on ‘how many’, that is an awful negotiation tactic, inless it is a fibby fib which they would never do. ‘When’, could also make a Major a little nauseous given that they would insist on total privacy.

I can feel another ‘valuation gap’ coming on; this time at Waitrose where the valuation betweem the cost of a slice of cauliflower and the price sold at in cauliflower steak’ packaging is a twenty bagger in our naff terminology.

[gus 3000] 25/9/2018 18:40

Cyan,why did they say "and will continue to be open for a while yet" For a while terminology is "for a short time".They could have put the data room is open,or not even mentioned it at all because its pretty obvious data is available when you are looking for a partner to finance the project.


They could have easily put " the data room will be closing soon"-similar to open for a while-same thing in reality.

It's a message,the door is closing soon.

Similar to what he told me,we are in serious talks right now.Bought another 150k today.

[cyan] 25/9/2018 16:12

" The farm-out process is active. Our data room is open and will continue to be open for a while yet. At the start of the year our outlook was optimistic and this continues to be the case."

You can read almost anything into that statement. Carefully worded and opaque.

Would have been nice to hear about just how many have visited the data room and when was the last such visit.

Time to get excited is If/when BOR state they are in active negotiations with a party that may, or may not progress to a farmin.

I just watched Trump at the UN moaning about the high POO and that he is "not going to put up with the horrible prices much longer"

Not sure his words will have any effect.

[gus 3000] 25/9/2018 13:17

Well i was very surprised that i had a very long decent email from obee following my email to him.

Anyway my holding remains,in fact may increase.

GL All.