Borders & Southern Petro... Share Discussion Threads

[ride the wave] 23/7/2015 21:12

I thought you knew everything there was to know ? . You sure sounded like it , the funny thing is you believed everything you said !

Lol

[wordog] 23/7/2015 12:33

Agreed, it isn't clear cut and hasn't been made any clearer but its all we have to work from right now. My interpretation is that it isn't a real concern.

[cyan] 23/7/2015 12:28

found it;



Ummmmm. Still talks about a well commitment but thinks they have done enough to get the extension.
No doubt the market would love to hear the FIG confirm his opinion.

I can see why he was pressed on the issue.

[ghostofahangman] 23/7/2015 12:09

At least your honest

[cyan] 23/7/2015 12:08

Good afternoon ohisay. I think RTW is right; I am dim. Am struggling to find the notes. You would not have link i could have please?

BOR should be shouting loud and clear on the extension like putting it in their final results. I am sure I am not the only one not 'in the picture'.
Would help the share price I would have thought. Maybe those possibly unfounded doubts are holding BOR share price down.

[ohisay] 23/7/2015 11:52

As RTW says read the transcript of the AGM notes.

[cyan] 23/7/2015 11:46

The reason I am confused is , why hasn't this been written down .
I note this post on the subject from the LSE board where the issue was pressed;

Mr Bond (& All the faithfuls)30 Jun '15I managed to get through to Dr. Obee this morning on the phone. Your interpretation of the AGM is 100% correct.

The current licence is already operating under a 5 year extension ~ expiry Nov 2017. Borders can Extend for another 5 yrs until 2022 (this means they will be into their 10 yr extension). I asked if a well needs to be drilled before 2017, (The answer wasn't exactly clear-cut, whether this was deliberate I do not know), from the answer I have the opinion borders would not need to drill before 2017 (the extension date would be moved from 2017 to 2022), the FI Gov would be flexible as they have met other commitments such as completing an extensive 3D programme. However, I then asked, If a drill would then be done before the 2022 expiry. I was told that they are looking to drill & appraise long before then (he actually laughed as if to think my question was rather stupid). From the tone of the call I have the impression a well will be drilled before the 2017 expiry date ~ subject to funding, but that last part is strictly just my opinion.

ATB
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++


I just find it strange that a straight answer was not given to this posters question, like "no";

"I asked if a well needs to be drilled before 2017, (The answer wasn't exactly clear-cut, whether this was deliberate I do not know),"

[wordog] 23/7/2015 11:24

The agreement is for significant work, not drilling wells in order to extend the licence term. The 3D seismic and recent reservoir updates have been stated at the AGM as being sufficient to extend the licence. Unlike ARG they don't need to drill a well to keep the licence.

[ride the wave] 23/7/2015 11:20

Agm recording go find it yourself brains lol

[cyan] 23/7/2015 10:12

Good morning RTW.
I am sorry I did not see that. I can not find the relevant RNS. Could you please link to the RNS or whatever as it appears I am not the only one in the dark on the license extension from my reading on LSE thread.

[ride the wave] 23/7/2015 09:35

Pmsl like i said .. noise !

Ceo said license will be extended so do some research you idiot lol

[cyan] 23/7/2015 09:32

Good morning RTW. Brent now $56.17 .
The 2017 issue remains for BOR. If they fail to drill again before that autumn they may lose their license.
It would not be in the FI governments interests to renew when they could take back the license and slip in their asset book to sell later at a nice profit.
I agree that BOR may come good but it depends critically and primarily on the oil price and also the humpback result.
The shallower NFB costing half as much to drill will be first choice for the majors.
The oil price is a cause for concern for me as I hold RKH and FOGL.
PMO before this slide were trying to farmin another partner for RKH's SEALION field to share costs.
They could not attract one.
As a result they scaled back the field development . They also stated that if oil drops below $50 at the end of the year ; the whole project will be deferred.
Thankfully for RKH they took a shed load of cash from PMO prior to the oil price slump. They will be around when oil recovers in, what some say may be in 5 years times.
BOR management must be regretting not accepting any earlier offers.
I try to be gentle and diplomatic, but , frankly I am very pessimistic on BOR now.

[ride the wave] 23/7/2015 05:08

This share is just like any other , take my AFC ... They were 70p and fell to 7p . Doesn't mean the company was going under , just meant wrong timing for those that bought high . A few years later the right news stRted too come out and hey presto it's 60p and will reach £10-£20 plus a share if all goes goes to plan .

It's exactly the same for Borders , at some time they will get a partner and when all that black hold starts pumping out then bor will be £1- £2 share and that's just from Darwin . I agree that Howard could have much better communication skills but at the end of the day he wants borders to succeed Just like all of us , even if he doesn't say/do a lot for the small investors .

If you read my first post on borders I always said it was a long term investment of mine and nothing has changed . We were never going to be drilling before x mas so let's see if they join the next campaign so the rig stays in the Falklands . These next 5 months should be interesting too say the least .

It's not nice watching our share fall so much but if you don't need the money then it doesn't matter if the company does what it first set out to do 😀. Everything else is just noise .

ATB and thanks for update Cyan Pmsl

Good luck to all the long termers and keep the faith .

[cyan] 22/7/2015 20:37

Just for RTW; Brent now $55.96

[pistonbroke1] 22/7/2015 18:14

I try to avoid him but the little chambermaid annoyingly turns up now and again.

[cyan] 22/7/2015 17:15

Good afternoon pistonbroke1.
Have you noticed how Chrisoil is running scared from posting on the NEW and SER threads.

[pistonbroke1] 22/7/2015 16:55

Chris be a good boy for mummy the sheets need changing in room 2.

[ghostofahangman] 22/7/2015 16:26

Talk about, state the obvious

[cyan] 22/7/2015 15:37

Those salary numbers are absolutely disgusting. Looks like the management want to trouser as much of the dwindling cash before time runs out for BOR.

As I said , Greed and bad luck,; the combination that's fatal.

[barvin] 22/7/2015 15:18

In contrast, the heads of Argos Resources took £189k in salary in 2014. That is less than 1/3 of what Obee/Fleming took. Plus Argos have mentioned to get a farm in and drill this year.

Time to start contacting Borders and making our voice heard, let's see if they can actually have the decency to respond.

[idleduck] 22/7/2015 13:40

Hindsight is a wonderful teacher
But Obee & Co have missed the boat, IMO
They should look seriously at taking massive salary cuts
The current level of pay is not warranted and it is time for a motion from shareholders to that effect

[brian boru] 22/7/2015 13:32

I did warn you R t W........its a bag of shyte!

[ride the wave] 22/7/2015 12:51

Agreed , I'm afraid to say !

[barvin] 22/7/2015 12:19

Howard Obee's salary was £335k in 2014.
Peter Fleming's salary was £285k in 2014.

hxxp://www.bordersandsouthern.com/contact-us/

Shocking performance from the board in the last 3 years, when are they going to take a drop in salary to preserve this cash burn or take salary in shares?