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Its going to be an interesting week, that's for sure. I have read the RNS several times and my belief is that it was purposely very vague indeed." Working on funding options" is interesting also, I wonder what these are and I am very sure it will be third party involvement. Market response was weird as well after the RNS, no buys and no sells/ not sure what to do, will be interesting to see which direction we go tomorrow early doors. All in all just a very laid back strange RNS the last working day before licence expiry, talk about last minute.com......

Geo, the board are very astute and my comment wasn't actually in frustration. I actually believe there is a genuine reason for late in the day financing and it could be very positive for us.

Fingers crossed. Good Luck All.

I presume the next RNS will contain detail of the funding and the award for the extension of the licences, they will go hand in hand. The extension of the licence is a given as long as the funding is in place, it's a strange comment saying we are working on funding options at this very late stage, they should have been working on options 6 months ago. In short this should have been put to bed by now and not the day before licence expiry, which makes me think.....

1. Why so very very late in the day, was it my option 3 that there was no interest in the city for a placement, or the placement would be too dilutive/ maybe both.
2. A farm in is being concluded, or alternative investment.
3. A loan from the CEO to the company whilst a continuation of finding the holy grail (farmout) is found.

Option 3 is actually quite credible in the fact that anything dilutive would seriously affect Harry's 26 million share holding and if he really believes this project will endure and continue to fruition- then it s a no brainer. The guy is a billionaire after all and its almost piggy bank cash to him to fund a short term loan to continue operations as normal, this would also show the market that he's willing to put his own money on the line before asking everyone else. Or he could do his own placement for a 100 million shares at 1-1.5p to raise enough money to carry on for the next 12 months, this would make absolute sense and hardly affect us other shareholders.

As I have said numerous times, the board have had a very long time to prepare and we will know soon enough. I agree with Ant, there will be no placement at this level but an alternative source via investment (farm in) loan or other offering. Lets not forget our buyer of 3% of the company a few days ago, he's in the know know about something for sure. Interesting response by the market- and that was no response- total ambiguity.

They were keeping a lid on this today, tomorrow will be a big day I think

For a BOR development, its easy- very easy. Highly liquid asset, 90,000 barrels a day super light oil. None of the sticky heavy to medium crude. Fill a floater and offload into a container, system used across the world. 100% owned with a recoverable asset of 42 billion dollars and a market cap of £5 mill.

Now or never time for sure. Oil is going to 100 usd per barrel.

Tick, tock. tick......

Bor recoverable asset value is now touching 42 Billion Dollars. This is for Darwin only.

100% owned by us and only a £ 5 million cap.

Doubt it in my view, Navitas has a huge task raising the cash for RKH development as is but stranger things have happened tho.

Our asset is totally different being super light oil/condensate against RKH medium crude. In short our asset requires less wells and has a bigger out put and of course is a better asset.

Navitas dumping RKH in favour of an all share buyout of BOR??

You never know.....

News has to be soon, funding and licence extension go hand in hand I presume. They are obviously concluding business as I type, whatever that may be. One thorn that sticks out from the garden of placings is a 15 million share purchase by a professional oil and gas investor, which would never happen if finance is being raised by a placing. One caveat in regards to funding requirements is that the board have known for a very long time that funding will be needed, I have posted many times before something would be in place- even if it's the dusty envelope in the bottom draw to be opened.

We will all find out soon enough!

The company are very very quiet. Something afoot for definite.

Exactly Phil, for an investment house to purchase 15 million shares one week before a placing and subsequent dilution would be a job losing scenario for someone. These people are professional investment houses and this one in particular a specialist in oil and gas. What I think we will see is either a farm in to this asset or alternative non dilutive finance.

My opinion only

what the whole market? Yeah probably........ RKH down- 14.2%. ARG down 20%...... the list goes on and on. Brent was down 300 points earlier. As I said, nothing particular about BOR (this time anyway)

The whole market is down today, the drum of war in particular with investors seeking safe haven in the dollar. Nowt to do with BOR, traders exiting late on also contributed.

If Putin invades oil goes to 100 usd and more

One thing I forgot to say......... nice to be over a penny here eh? Just makes things a little better whilst waiting!

Whilst waiting for a £

Draw, insider trading I doubt but external trading definitely .The Calgary boys may have heard something, but from within Bor-simply NO.

As to Ant's comment- this is no punt. Especially at a point of fund raising, the punt should have been a while back.

News soon....... and very soon

The interesting thing here is that an experienced investment house in oil and gas would not buy over 3% of the company prior to a cash call and potential severe dilution for them.It just wouldn't happen, these guys are spending other people's money.

So on that basis it would be reasonable to conclude that some sort of deal is en route, what that comprises none of us know but nevertheless a deal done. Or alternative non dilutive finance in place.

Yes agree Ant, its been too many years so let's hope for a once in a LT payday. I wonder who the board are chatting to, perhaps its Enbridge who are the largest oil and gas company in Canada with offices just across the road from our new investor- Cannacord.

Or could it be Chevron who purchased Noble and inherited the Alba Field off Guinea producing the closest API oil to our asset by using a FPSO also.

Or we could all be barking up the wrong hopeful tree again.

Shall find out soon, I am staying put.

Into. Not a huge top up, but I do have a load here and like others am under water. However not that much now with the current recovery. For me its long term and the attractive thing about this stock is that we have a huge asset, its 100% owned by us and its badly needed.The market cap is almost nothing (a few million usd against asset value of 41 billion, that's just for Darwin)
and the board are creating a part development plan for the asset which will need a much lighter investment.

We can get the stuff out easily and stored with a leased FPSO, these bad boys are placed in some of the remotest places on earth! and available at much better rates nowadays. Yes it needs to be appraised and flow rates understood, but the board are confident it will flow at 90,000 + barrels a day which is huge.

So considering the above, risk v reward is ok for me and I stick until the next hand is dealt,whatever that may be. I am a great believer that value is always realised in the end and this will either be farmed into or bought outright.

I added today for the first time in a while, possibly 2% soon of this stock.

Not that I am counting but I do believe.