Member Info for BigBear2

Nice holding there, basement levels, smart folks loading up

this wiil easily cruise back to the 2s

limited stock available

08:24:27 1.655 1,000,000 16.55k Looks like they dropped it a bit to fill that

MMs need to narrow the spread

1.65 to buy correct. MMs just doing their thing on low volumes

Trading At all time lows here, this bounced hard from these levels last time it reached them.. Accumulation is the name of the game

In the current economic environment, the Company's preferred development plan would be for a phased development, initially targeting 270 million barrels of condensate. This would require four production wells and three gas re-injection wells. Initial production rates would be 56,000 bopd. Crazy.... This is in effect a Mexican standoff, BOR can survive for 10 years on current cash burn.. So there is no likelihood of going bust and they have years before they are obligated to drill. I would love to know what deal the BOD refused for a farm in. There is no likelihood of any placing as you are looking at around 30-40 million USD to drill an appraisal on Darwin, which in the old days they could have easily raised with institutions. One thing is for sure they know what they have and will not let it go on the cheap. If the Falkland govt reduce royalties they can get the break even cost down to way under $40 a barrel.

Thought that might crack on towards 2p when that auction came in Next week for sure

Might well do mate they took that down right at the end could be to sort your 2 mill

1.75-1.75.. Hammer Time

Into the close. reckon this will close 1.75-1.85

Yup, we are in the 'power hour' Could be a lock out on any news..

Whilst we await the reason for the sudden drop here thought it may be useful for newbies to understand the BOR story. BOR were once along with RKH and Desire Oil one of the darlings of the AIM. RKH with its Sealion discovery was a success but the size of the sandstone in the SFB was always known to be superior to the NFB. BOR, amazingly, hit on their first drill, word got out and the price spiked to around £1.40 on rumour of a huge oil discovery. When the RNS came out it revealed that it was a massive gas/condensate discovery and the price retraced to ‘only’ 80p or so. The second well, Stebbing had huge hydrocarbon shows, but they could not control it so they had to P&A. Moving on to the last FOGL/RKH drill the plan was to farm in and do an appraisal drill, but they could not agree fair terms. here is what they had to say:- 'It is worth noting that companies that have entered our data room have found the technical merits of the project very attractive. Darwin is a gas condensate discovery with a high liquids component (46 to 49 degrees API). This means that it has the condensate gravity typical of an ultra light crude oil. Our current estimate of the most likely recoverable volume of condensate is 263 million barrels but, as previously stated, this could increase significantly following further successful drilling. Those potential partner companies that undertook detailed technical analysis confirmed that, following a successful appraisal programme, an FPSO development would be commercially viable. In some cases, farm-out talks advanced from technical to commercial discussions. Unfortunately, these negotiations ended before a deal could be secured, either due to a change in the potential partner's strategic focus or because terms fair for both parties could not be agreed.'

Once they have finished balancing the books on the suspected large sell would suspect this will settle in the 2p range again unless we get some news... Still makes this a stonking buy.... 3.5 TCF for 1.6p a share!

They have a data room and have been in farm in discussions just would not accept one that was sub par In summary they know what they have and are sitting on it till they get it

The largest prospect within the nearfield inventory and the current most likely candidate for an exploration well, following Darwin appraisal, is Sullivan. Stratigraphically older than the Darwin reservoir, in a section not yet penetrated by a well, the prospect is defined by a strong seismic amplitude anomaly measuring 120 square kilometres. The AVO response is very similar to that associated with the Darwin discovery. If this anomaly does represent another gas condensate accumulation, then Management’s un-risked P50 Best Estimate volumes comprise 5.6 tcf of gas in place with 473 million barrels of recoverable condensate.

Just in case anyone had any concerns.. Production Licences PL018, PL019 and PL020 have been extended by three years without any additional work programme commitment. The expiry date is now October 2020. A further extension could be achieved by committing to additional work, such as drilling more wells. The Discovery Area licence, relating to Darwin East, has been extended by four years so that the expiry date is now January 2022. three years without any additional work programme commitment. The expiry date is now October 2020. A further extension could be achieved by committing to additional work, such as drilling more wells. The Discovery Area licence, relating to Darwin East, has been extended by four years so that the expiry date is now January 2022.

AEX have 1.5 TCf plus some other minimal production, its considered they are undervalued @ £154.85m mkt cap. This in reality should be £500 mill mkt cap....and has been that before

Chill out dude we are priced in below cash, with a 3.5TCF discovery and many other prospects of similar size. Make no mistake this in reality should have a mkt cap in the 100's of milliions. Stay for a trade for a good profit, or a while longer for something that could be life changing. There is talk that the falklands govt are reducing their royalties, which will have a massive effect on the break even price here.