No probs mate, I think it's very interesting how a well timed top up can substantially reduce your sp. I'm glad the info was of use to you ! I'm just waiting on ECR to confirm they now have full access to the $80m Australian tax credit and that should see a nice rise. And I'm also waiting on flow test results from MSMN with the New Zealand wells and that should also rocket on good news. Once one of these guys pays out I'll be buying more BOR shares before they announce the 2015 schedule... If it all goes to plan I'll be one lucky SOB :) That's my grand plan anyway so fingers crossed !
V interesting your top up and the effect its had on your average. Mines 48p, so on that basis if any sorry when the oilers that many of us are waiting news from come good I may well have a top up also. I have done some 'average down sums recently but not at these low prices. Thanks!
Hi Lucas, it's a fair concern but I really wouldn't worry all that much as any price impact due to oil prices will be nothing compared to the upside of a confirmed drilling schedule next year. There's slso the time between oil prices now and the time we actually become a commercial operation, this will be 2 or 3 years away at least. Believe me, when we confirm our schedule for next year the sp will rocket north. Like everything though it is a gamble as we need the funds to go back, but I believe there are a few options open to us here so we aren't going to just fold up our tent and call it a day. At the moment I'm down £20K on BOR but it's only an issue if I needed the cash right now, and I dont so I'll continue to wait for my pay day :) All the best and hang tight
Relieved to see this up slightly tpday. Im on nights and woke up briefly and saw us in the 7's and was gutted! been in here for too long now to bail out so just gotta hold nerves and ride it out. Wish like you i had some spare funds to average down here! Im slightly worried that farm in news will come at a point when oil prices are low so any reaction wont be as great as maybe say would have been a few months ago.. what do you think?
You could be right Phil, let's face it anything is possible on AIM !!! That being said it is more than likely a combination of factors... My guess is as follows. Global economic concerns. Oil price falling due to Middle East. BOR not yet announcing a partner. AIM MM's taking advantage of the above.
Quite honestly I couldn't care what the reason is fir the price drop as I know it has nothing to do with our discovery going pear shaped. I'll concern myself with that once they start flow testing next year :) The fact is that this price drop is a gift for those who want in at the bottom or for those who want to average down. I lowered my break even so by 11p today with my £2K top up.
If we can work on the premis that we are definitely drilling next year I can see 3 options: Best case is we get a farm in partner at perfectly reasonable terms. Next best is we get a farm in but we get our spuds squeezed in the process. Least best us we have a substantial share I crease to fund the flow tests and appraisal wells at Darwin. Or is this the least best option as we would have more shares in circulation but we would still be 100% owned and get all the returns... I'm actually leaning towards this as joint favourite to a farm in at good terms.
Anyway, this is how I see it and ATB to you all. I'm holding fast and quite excited about the next 6 months for BOR.
You have to hang in there guys, remember the fundamentals have not changed. We have a discovery worth billions of pounds and all we need is the cash to go and get it. It's as simple as that !!! I've just made another top up with £2K getting me 25,480 shares at 7.80 per share. That's me now sitting on 75k shares with an average sp of 29.40 per share. I'm quite pleased by this as I was sitting on an average of 41p before this top up ! Leaving myself with £500 in the bank isn't so great but this bug price will never stay at this level for long and it's a golden opportunity to either top up or jump in !!! ATB holders and just wait for the red dot to appear and our faith will be multi rewarded :)
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