_traveller,... already holding a good position here at BOR myself,...... I anticipate increasing my BOR shareholding substantially at the back end of 2017, provided BOR Market Cap is still around current levels, at that time,.....although, would be very happy for BOR s/p to have risen so far by then, that the option to substantially increase my shareholding, at current s/p level, was no longer available to me, at that time.
Seems the SP has stabilized, but will 2017 see significant news for BOR? The SP will be many multiples if the right news is released and could be a very good opportunity to buy and hold and these low levels. GL LTH's.
& we had Cash balance at 30 June 2016: $12.2 million.
We appear to be well placed to come through these rough times,as was indicated in comments on Outlook;-
"The technical and commercial work undertaken during the first half of the year has demonstrated the quality of our discovered resource and its commercial competitiveness against other global opportunities. The Company is confident that this recent analysis will assist the farm-out process, so that we can take advantage of an upturn in the oil price and a return to increased capital expenditure in the industry, when it comes. Going forward, we will maintain a strong balance sheet and a disciplined budget. Our prime focus remains on securing partners and funding for Darwin's appraisal programme." (from RNS,Half Yearly Report, Mon, 26th Sep 2016).
Bought these at close to £1 at peak, and have now written it off. Have learnt from having shares in xcite that having lots of oil in ground is a waste of time, if unable to get it out. ....that one went in administration.
Maybe average down here, but not yet, as whole industry is a mess at moment.
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