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As reported earlier in the year, the Company has been sharing details of its technical and commercial work with potential industry collaborators. worSouth Falkland Basin would be economically attractive. This activity continues.
The above from an RNS . If BOR are going it alone, does that mean that none of the " potential industry collaborators " are interested ? If so, that doesn't fill me with confidence. I hold a lot of BOR shares so hoping for success - so just a post for discussion.
Speaking as a layman I can't see how Navitas would take all of the rest of 2024 ( almost a whole year ) to reach FID ( or not ) : They already know as much as they can about the economics of the oil & they must be working on getting the finance organised.
I think your explanation for HBR's exit is correct. But they can't have their cake & eat it - it's Argentina OR Falklands.
Hope you're right about buyers - I'm sitting nervously on a 600k shares & the silence is deafening !
Happy New Year to all our readers.
I found that Harbour Energy, a UK-based oil and gas company, is facing sanctions from Argentina over an oil and gas project in contested waters off the Falklands1. The company is developing the Sea Lion project in the Falklands, which has a gross resource of 250 million barrels1. The sanctions process has been launched against Harbour Energy, along with subsidiary Chrysaor Holdings and Navitas Petroleum of Israel1. The sanctions could mean companies directly or indirectly involved can face five to 20 years disqualification from operating in Argentina2.
HI Rookie - I found this from Google.