RE: News Soon?25 Feb 2026 20:25
Gus0
You frequently tell this chat board that you have the ear of one or both of the Harrys who run the BOR show, and they give you privileged information about possible take overs, farm ins and the like. At best that’s immoral business practice.
I put it to you, that you have become their gullible patsy, to feed scripted fantasies into the public domain to support the share price for the next equity placing if a takeover never happens.
If there is a Tier 1 oilco interested in taking over, then a 30% premium will do it, because there is no hope of an auction of multiple interested parties. Mr Calgary will be laughing his backside all the way to his bank. 13p a share will be a tenpin strike for him and Mr Calgary has the % to make it happen at a general meeting. Any talk of 25p is fantasy.
If on the other hand, if there is a Tier 1 oilco who farms in for 80% of the licence in exchange for a free carry on a $500M project, what does that mean? It means that a capital gains tax of 26% of $100M is payable to FIG. Where is BOR going to find $26 million? Where will that come from with less than $2m cash on the balance sheet, other than a placing at 7p? FIG won't allow another endless legal CGT argument and endless deferred payments like with RKH. The are strapped for cash and are tax hungry.
The Noble Endeavour is not fitted out with anchor depth to drill at Darwin, and in any case it is contracted to drill 11 wells at Sea Lion starting December 2006. So where is the rig? Without a rig and drill plan, the licence is at risk. Licence rollovers are so yesterday.
The whole narrative from the Harrys that you have bought, is baseless in my considered opinion.
Best outcome: takeover at 13p, possible outcome: farm in at 7p, worst outcome: 1p, that’s the range.
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