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Ariana forecast 47% rise in Kiziltepe gold production


Borders & Sth. Share Chat (BOR)



Share Price: 3.00Bid: 2.80Ask: 3.20Change: 0.00 (0.00%)No Movement on Borders &Amp; Sth.
Spread: 0.40Spread as %: 14.29%Open: 3.00High: 0.00Low: 0.00Yesterday’s Close: 3.00


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Energiser
Posts: 1
Off Topic
Opinion:No Opinion
Price:3.00
RE: Humpback
Sat 08:54
I wouldn't take anything said by Falkland Investor (garbled / essex / sparrowhawk to name but a few) as gospel as its been proven time and time again over the many years, the many forums, and his many disguises, he knows absolutely nothing.

jeez I can even remember (many moons ago) he once claimed to be reporting 'live' from the islands.

what a laugh all the islanders had in the bar that night after reading that and it was the talk of the town for days :-)
 
falklandinvestor
Posts: 682
Off Topic
Opinion:No Opinion
Price:3.00
RE: Humpback
Sat 08:47
From the RNS then:-
""The rig has been contracted by Premier as Operator and will also be used
by Noble Energy under a rig sharing agreement to drill a further two firm
wells elsewhere in the Falklands""
That rig had a faulty BOP while they were drilling Humpback.
Phil164
Posts: 360
Off Topic
Opinion:No Opinion
Price:3.00
Humpback
Fri 22:17
Falkland Investor, I may be wrong but my recollection is that Noble ran that drill.
cyan2
Posts: 929
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Fri 18:43
Just reading your comments mentioning the RKH drilling rig and thought this might be helpful to know regarding RKH and the SFB. Its from the results released on 19th April;

"South and East Falkland Basin (100% working interest)

Through the acquisition of FOGL, Rockhopper acquired a 52% interest in Noble Energy operated acreage to the South and East of the Falkland Islands. Following the results of the Humpback well, Noble and Edison gave notice to withdraw from this acreage (although they retain an interest in PL001 in the North Falkland Basin). As a result, during 2017 Rockhopper became operator of the South and East Falkland Basin acreage with a 100% working interest. No outstanding financial or operational commitments exist in relation to the Company's South and East Falkland Basin interests."
falklandinvestor
Posts: 682
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Fri 18:18
I do not think you could use humpback cost as a guide
Cos Fogl made many mistakes during the drill and the
Rig had many faults, also, the hiring cost has gone down now.

What worries most at this moment is the type of the rig PMO
will have for the north basin. If this rig is only for shallow
Waters then it won't be used in the south basin. In the past,
The FIG won't let more than one rig operates in the Falklands,
The question we should ask, Has this policy of one rig is still
Effective or Not? ...not looking for an argument, just my view.
Phil164
Posts: 360
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Fri 17:41
Very informative board of late, and helpful. Drilling costs in the sfb do worry me, so many drills have been problematic, humpback ended up costing close to $200m. It does seem to me though that something has to give probably over the next couple of years. I think sealion sanction will also help.
BigBear2
Posts: 4,541
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Fri 17:13
Well costs have come down a lot since last drill which was at near peak oil.
All points of view welcome here.
I am not saying it will happen but also look at hurricane they could not not get a farm in raised a huge sum at 10p and appraised themselves.
I am certain the bod do not want an equity raise at these levels but is it any better to just sit there for another 4 years till the pot runs out ?
My point is bor are in a weak position to farm in, they could not agree a farm in around the time of the last fogl/rkh campaign so it’s clear they will not be held to ransom on s farm in.
At least if they did dilute they would still own 100% of a world class asset.
Something has to give here. Any other thoughts welcome
rpoodle
Posts: 99
Off Topic
Opinion:No Opinion
Price:2.96
RE: One alternative....
Fri 13:58
Not to be argumentative but I would have thought that an appraisal well on Darwin West would cost lots more than $40m. The previous wells cost something like $100m, and, even with lower costs now, Borders are planning to incorporate a sidetrack (so extra time and money) and then there are the mob/demob costs (which often run to the tens of millions). I actually spoke to Borders about a year or so ago over the phone and, though they were extremely cagey (over the top in my opinion), they did say that there was no way they would do a share offering to raise the necessary finance. On that point, it's also worth remembering that a massive equity raise would also massively dilute the company directors, who own something like 13% of all the company's shares (I forget exactly)....
BigBear2
Posts: 4,541
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Thu 14:44
likewise.
wraith
Posts: 5,245
Off Topic
Opinion:No Opinion
Price:3.00
RE: One alternative....
Thu 14:33
Your welcome Phil164,....my intention is to build a larger BOR shareholding, over the coming months, as fresh Funds allow me to.
In the event of dilution here at BOR, I will take Funds from other positions, to take advantage.

BW




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