Borders & Southern Petro... Share Discussion Threads

[tincan1995] 12/2/2022 21:39

I think oil at this price will draw out some suitors……; end game soon I hope

[taxibabe] 12/2/2022 13:49

The Falklands has had a lot of false dawns , maybe if oil went up to 200 USD a barrel it might lure someone

[brazilnut1] 11/2/2022 20:42

Just ignored it.

[mesquida] 09/2/2022 15:17

Definitely a very well managed accumulation going on here. Probably nothing imminent, but ignore it at your peril.

[mesquida] 07/2/2022 09:14

250k just bought at the full offer price , feels as though this could suddenly ping up !

[mesquida] 04/2/2022 16:10

I am not talking about the holdings RNS on 20th January, I am talking about the RNS on the 31st January relating to the extension of the licences.

[brazilnut1] 04/2/2022 14:34

Yes but that was just a holding RNS, no real info.

[mesquida] 04/2/2022 12:36

Brazilnut, did you not see the RNS the other day ?

[brazilnut1] 04/2/2022 11:02

Silence is deafening from the bod. Decision deadline of 31st January well gone now and not a word on whats going on. Shows a total disregard for LTH's.

[mesquida] 03/2/2022 12:26

Not sure why ADVFN has a price of 1.34, but nevertheless we are definitely edging up !

[rumblefish] 02/2/2022 22:16

The board did very well, to get extension till December 31, 2022
But now we need money
Or maybe we have enough to take us to December 31, 2022

Rumblefish

[rumblefish] 02/2/2022 22:08

Cyan English literature
Is yours strong point
But when you get down to it
You’re asking the wrong questions
And definitely giving the wrong
Answers
Funding for the next 12 months
Is what we’re looking at
How do the board of directors fund BOR
Which has no money
As an Indian I this i understand
mONEy

Rumblefish

[mesquida] 01/2/2022 08:30

This morning's RNS from Rockhopper suggests that they are very confident that they can get an agreement signed with Harbour/Navitas by the end of March. That can only be good for the Falkland oilies in general.

[shareho1der] 01/2/2022 08:21

The good thing is the Falkland government has been very supportive of all the oil exploration companies in its territory.

[whoppy] 31/1/2022 18:48

Obligations of the licences include 1 well. They will need to demonstrate they can drill.

[cyan] 31/1/2022 18:41

Good evening gus 3000 and mesquida

I hold RKH shares but not BOR. I have a general interest in all things related to FI hydrocarbon development and I will comment where and when I please.

I disagree with gus 3000 characterisation that my posts are WHOLLY negative and one sided.

Is this a wholly negative line from one of my earlier posts;

"It MIGHT be that BOR is in the final stages of an outstanding farmin/refinancing."

I understand that gus 3000 has a very large holding here and do not appreciate the issues I have raised.

I say it how I see it and that includes about RKH.

If you are unhappy with my input; use the filter

[mesquida] 31/1/2022 18:35

Good post Gus, I am pleased to note that I am not the only one who is tiring of Cyan's continued negativity. Granted it is important that we all consider both the potential upside and the potential downside, but some of Cyan's posts are so misleading that one has to wonder exactly what his agenda is.

[gus 3000] 31/1/2022 18:24

Cyan, options are surely better than option? In addition the way you read things is only negative, in the RNS regarding news i thought it was clear. " A further announcement will be made on both matters" can mean one announcement for each and not one for both!

Last but not least, as for a short extension its 11 months instead of 12! Really your posts are wholly negative and one sided, i also believe you have no investment here so the question is- why are you here?

[cyan] 31/1/2022 18:15

The other critical fact is that BOR needs to complete the YE 2021 Audit and be able to demonstrate they are a 'GOING CONCERN' and have working capital for the next 12 months.

a reminder;

The 30th Sept. 2021 Half-year Report RNS had these extracts;

"..the Company will have to demonstrate that it can meet its financial obligations under the terms of the licences."

"...it is likely that additional funds will be sought before the end of January 2022 in order to meet licence and working capital needs and in order to meet the "going concern" tests of the 2021 year-end audit."

Note 4 makes a more definite statement

"4 Going concern

...the Company intends to secure additional funds by the end of January 2022 in order to continue operations as normal."

This critical finance question can not be left unanswered for much longer.

[cyan] 31/1/2022 17:34

"A further announcement will be made shortly."

A line conspicuously absent from today's RNS .

The wording on the financing position still reads to me that they are struggling for a solution; just how many 'funding options' are they 'working' on?

Its the plural of 'option' that raises my eyebrows.

[whoppy] 31/1/2022 17:19

A further announcement will be made shortly.

[cyan] 31/1/2022 17:16

It really does not need to be this opaque. I can see no reason why BOR's management can not be more frank about what's going on.

I repeat the lines I posted before;

BOR could have stated they were in discussions with a third party that ' may or not result in financing the next stages of their license commitments '.

Additional cautionary remarks along the lines "there can be no guarantee's an agreement will be concluded" would be entirely reasonable and not unprecedented.

"working on funding options" is wooly and not encouraging.

[whoppy] 31/1/2022 17:08

The government want the licences developed as much as BOR. They won't scupper the chance if there is something being worked on. I would have thought BOR would have been trying to get it all sorted by the end of January, but the closeness to the end of the licences expiring probably meant any third party wanted to see the licence extended to allow completion of a deal.

[cyan] 31/1/2022 16:52

"As announced by the Company on 28 January 2022, the Company has been in discussions with the Falkland Islands Government regarding an extension to Production Licences PL018, PL019 and PL020 and Darwin Discovery Area Licence. Today, the Company received confirmation that all licences have been extended until 31 December 2022."

Very interesting. Raises questions. A rather short extension and so its not surprising that mention of a commitment to drill an exploration well is not mentioned.

It may be that BOR have reassured that they are 'working on funding options' that need a little more time to finalize ; like a farmin, maybe?

One must refer back to the previous RNS that implied the next RNS would address both the License and financing question;

"....The Company confirms that it is in advanced discussions with the Falkland Islands Government about the extension of these licences.
The Company also confirms that it is working on funding options for the next period of the Licences.
A further announcement will be made shortly on both matters."

note the singular . Both matters have not been addressed today.

Must be something cooking or are the FIG just giving a very last chance to BOR to deliver.