We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
They did mention *Rig & Monetisation*.....Something is brewing...IMHO-DYOR
Monetisation:-
1. the action or process of earning revenue from an asset, business, etc.
"the network supports the distribution and monetization of online content to any type of site or device"
2.the conversion of an asset, debt, etc. into cash or a form easily converted into cash.
"the trust is actively reviewing the monetization of a portion of its assets to reduce indebtedness"
To be honest I thought monetisation meant, to turn it into money, which would imply a sale of the whole shooting match, but that is just on interpretation.
I think the mention of a rig coming from Nambia makes sense, but even so the mob costs would still be big for a high spec deep water rig. Navitas/RKH wouldn’t want to share an overspec’d rig, the higher day rate on their development drilling would knock their budget well over!
So either we need a sale or a partner with deep pockets, as the $200m budget for the rig seems a bit on the light / optimistic side to me.
Finger crossed something happens soon.
LTT
**Interesting comment by Malcy about the Namibia area for mobilising a rig, rigs travel globally and are long lead items. I wonder why he was specific about Namibia**
The BOD are trying to tell us indirectly, they are in talk for a rig/fpso....etc..
And it's coming from Namibia..,IMHO-DYOR
Interesting comment by Malcy about the Namibia area for mobilising a rig, rigs travel globally and are long lead items. I wonder why he was specific about Namibia....... In regard to farm in Buffit, the data room has been open for so long it looks like something from a Halloween movie with lots of cobwebs and spiders. I suspect every oilie who doesn't have Argentinian interests have been in and out multiple times already, I am hoping monetisation means us going it alone.
" I get the impression that the primary move for Harry Baker as incoming CEO is to monetise this discovery and with a data room open that option is route one."
Is that to be interpreted as a potential farm-in ?
Today, there are 2 trades not shown on LSE, anyone knows the value of them please ?
Ah our business development manager Bruce, he must be the happiest out of everyone. A business development manager still employed after all these years, paid a nice salary and perks without ever........ developing any business.
Brilliant article, thanks for sharing it ...IMHO-DYOR
Thanks to Malcy's Blog:
Borders & Southern
I wrote briefly about Borders & Southern recently, on 1st March Harry Baker took over as CEO and he kindly invited me in to meet the team and look at the maps and squiggly lines that I hadn’t seen for many years. I met with him, Finance Director Peter Fleming and Business Development Manager, Bruce Farrer.
There is clearly an enthusiasm at the company that I for one hadn’t detected before, the company has three production licences in the Southern Falklands Basin, 100% owned and the operator. Readers will know that fiscal terms locally are favourable with a 9% Royalty and CT of 26%.
There have been both 2D and 3D seismic operations completed and a drilling campaign which discovered the Darwin field with its first well. Darwin is a 3.2 tcf wet gas discovery with, two adjacent tilted fault blocks, Darwin East and Darwin West which have an un-risked best estimate of wet gas initially in-place for the combined area of 3.2 TCF and for gross Contingent and Prospective Resource of 462 million barrels of liquids (condensate & LPGs).
Most importantly, the significant amount of liquids makes the discovery economic at current economics in its own right and with near field prospectivity there is very decent upside. I get the impression that the primary move for Harry Baker as incoming CEO is to monetise this discovery and with a data room open that option is route one.
But as he said to me in our meeting ‘funding is the key to unlocking this asset and there are very few projects around the world with its risk profile’. Indeed we both feel that with a great deal of under investment of late, partly created by ESG and a misread of fossil fuel demand, companies are competing for more, not less substantial opportunities worldwide to fill their hoppers.
This makes a number of things that might happen quite important to B&S, firstly there is the small matter of the Sea Lion project still underway in the nearby North Falkland Basin which is expected to get FID later this year, should that happen it would surely give the SFB a significant boost. Another positive is that there are plenty of rigs in the Namibia area for obvious reasons and that mobilisation from there is a simpler task than most.
Accordingly I feel that this is a brilliant opportunity for Baker to use his industry knowledge and perhaps more importantly his financial heavy lifting skills to develop this asset which is one of very few worldwide projects with the opportunity to make a difference.
I’ve said it before and I’ll say it again, and again… with all the madness in the Middle East why in gods good name is our discovery not in the midst of a bidding war for companies to join in, or buy us ?
It really is baffling, the Middle East is the world’s bread basket for oil and it’s going straight to hell in a hand cart !!!
Meanwhile, the Falkland Islands are tucked away in a lovely quiet wee part of the world, providing a safe and secure supply of oil and gas.
It makes absolutely no sense to me.
If anything is happening it’s the worlds best kept secret.
They increase the bid if there's no selling, the good thing here is the ask hasn't gone down considering there is zero buying. In fact, absolute nothing is going on here- hopefully an update soon
Thanks , you could be right....Wait and See, ATB
They need shares to fill an order, I’m guessing a buy order at 3p hence the rinse and repeat.
MMs are desperate to flush out weak holders here recently.
On IG index ......
Sell @2.7393p ....Buy @3.091p
The sell price has been raised without any trade, why ?
I’ve got him on block due to endless garbage, I’d suggest you ignore anything that half witt says.
As Phil said, we have major investor activity so I’m happy to hold.
The only charlatan is Mogger making false accusations.
Wow so many green filtered message lines.. I wonder what PageofCups is saying...? Once again a huge nod to Mogger for exposing a complete and utter charlatan.... ....
Mogger is making false accusations.
Totally wrong and says he can't find the facebook link when searching on google
He says I must have set up the facebook page
What a plonker and wally
Everyone can do the search and find it themselves
Apart from Mogger.
Hmmm. Strange that.
I don't think anyone can say Poc did it. Its not good it was done, but cos he found it don't mean he did it. But someone did, and that's quite c####p. And there is other stuff which is REAL news and worthy of note.
What you so worried about Mogger..
Frightened Borders is going to lead the way down in the Falklands before Rockhopper.
You got it Mogger??
Or have you buggered off
Watch the oil price 11pm. Probably hit $100
Any thoughts on the current middle east goings on?
Oil prices etc
Please confirm Mogger
Mogger I get it coming up when I google it.
Type in Borders and southern petroleum.
Go to tools
Click Anytime and choose past week
Scroll down 3/4 of the page.
You will see it.