Member Info for longtermthinker

I always thought it was a bit of a waste or time, getting to first oil, drilling the next 6 or 7 wells, then kicking back for 3 years before starting Phase 2. It made no sense, why not carry on drilling straight through!

Well now it seems they are looking into doing just that, 180k barrels per day, which gives us 63k per day. Alright, it's early days, but sounds like an good plan to me, expect the next bit of news to be that the rig is booked for 20+ wells going straight into Phase 2 drilling in readiness, even if they leave the completions till when the next FPSO arrives. It's all getting really exciting, and with this news now, prior to first oil, it should secure us a much higher buy out prices with 63k per day.

I am not so sure why folk think this means Nav and RKH will go it alone, if anything it could be a precursor to a partner coming onboard, after all, a partner taking 30% of 180k barrels per day is more likely to sign up than a partner getting 30% of 55k, then having a wait of 3 years for further drilling and expansion! 🤔 Or am I missing something!

I have to be honest, I thought the share price would be much higher on news that the FPSO is due to leave and a refurb slot has been secured away from the Middle East, plus an MOU had been signed for another FPSO. So wha , the timing may have slipped a little, H1 rather then Q1, but what a result with them ploughing forward with development.

I think this may head higher once Mr Market has ruminated over this for a few days/weeks.

I still expect a partner to come onboard, even more so now that plans are being accelerated.

LTT

I am with you there Phil,

The license needs renewing and now RKH/Nav are 18months to first oil, maybe FIG, in the knowledge of an imminent income stream might add to caveats to any renewal, such as shooting some 3D or one exploration well in the next 2 years of they lose the license.

Previously, it wouldn't have been on the radar to not renew the licenses, but now I am not so sure, they might say, "Borders, do something or get off the pot!" As momentum build in the Falklands to first oil on Sea Lion, why would FIG allow a minnow, hanging on by it's finger tips, scratching around for cash very 2 years, diluting shareholders, in the hope of securing a deal. It's alright Harry saying we are raising cash so we don't have to accept the first deal that comes along, but has any deal been put forward? He implied they where holding back tier 1 players with a big stick, not it has come to nought and we will have to prove we are a going concern if we want to keep the license, which means a deal has to be done soon or the hat gets passed around again!

The Canadian upping his investment comforts me a little, but something as to give soon.

LTT

ZYX098,

I know you see the likes of RKH as the weakest link if a partner comes onboard, but surely once 3-6months production is under our belts we will be able to get RBL to fund phase 2 onwards, maybe even pay back Navitas' 8% loans at a lower rate.

If not just leave it as is, paying 85% of production and use the RBL to fund Phase2&3 and any appraisal/explorations wells that Navitas and Partner want to have a crack at. Plus with oil possibly staying in the $75+ zone for the next few years, baring a crash when a peace deal is done, then back up on the realisation that things won't get back to any sense of normality for quite a while, we will pay back the loan all the quicker, IF we are still around.

LTT

But then BrightSpot, I don’t recall you hearing any whispers about the Navitas/Eco tie up, that really came out of the blue for everyone did it not 🤔

It still could be that it’s being played with, but the volume is up compared to the norm. We will see over the next few weeks/months as something will have to give sooner or than later. Fingers crossed 🤞

LTT

I’m inclined to agree Overts, Trump doesn’t think the long games, it’s knee jerk reaction with some folk behind the scenes whispering in his ear.

How can the US hope to supply the world with oil, increase production and then get oil prices down 🤔 and support the massive energy demands of AI !

Plus, once it gets back to some semblance of normality, why wouldn’t Middle Eastern suppliers just get market share back by offering cheaper oil and gas.

With US companies getting a premium by exporting, who will supply the US. And then, all it takes is a Truth post from Trump to wreck havoc.

I think folk are reading far too much into this. Maybe it’s partly true, but Saudi have a HUGE amount of investment in the US, what would they do if the US took thier market away.

LTT

I’d like to think so but there is no need for anyone to cash in/buy there warrants. They may as well wait until a deal is done, then cash them in 🤔 that’s what I’d do anyway.

No RNS saying anyone has sold their warrants either. I just hope this ride hasn’t been engineered to get another fund raise away with a promise of jam tomorrow. The whole point of the last one was to give us negotiating power, to not have to jump at the first offer!

It would be nice to have got an offer, but all seems quiet.

LTT

LOL, sorry Phil, I shouldn’t have done that. I won’t respond to him anyway. I will join you with the filter, he’s currently on RKH saying 50p and $40 oil price crash. I’ve had enough.

Onwards and upwards for Borders, could this be our time 🤔🙏🤞

LTT

Do you remember this Divi, do you think an apology is in order?🤔

LTT

Divi-Collector

Posted in: BOR

Posts: 800

RE: SP25 Mar 2026 08:46

Yeah, Gus knows it all…..unbelievable!!

If no good news by end of May-June, sub 5p is very likely….

All IMHO DYOR

Seems like any dips below 80p are causing buying.

Maybe those whom have warrants are thinking, "Well, I am going to buy the warrants when the are in the money, so might as well use the funds to buy on any weakness below 80p, then when I am good a ready I can just sell the warrants into the market and pocket the cash, as I will have all the shares I need!"

Just a thought, of course I could be wrong and we are headed for 50p and $40 oil as our "Sage Divi" have proclaimed.

LTT

Interesting idea Just,

maybe Navitas put up some cash for the long suffering Border shareholders, Eco issues some shares for their 20%.

I would be just concerned that it would mean Borders are the weakest link in the chain, any drilling/exploration would, even with only 35% to fund, be highly dilutive for Borders and their share holders unless they get a carry from Navitas.

My other concern would be Navitas and Eco spreading themselves a bit too thin! with Guyana to drill, Africa and PL001, it would be a tall order to have a crack at Darwin also. Of course I'd love something along those lines to happen, but maybe a complete take out for Borders with a bigger player taking on Borders 35% would be better, someone with cash to drill and develop Darwin East and West and see what else is there. Condensate and gas are the fuels that would be around much longer than oil as a cleaner fuel of choice.

We wills see what happens.

LTT

Flipper56,

I have to admit, it had crossed my mind also, Ithaca coming in for 25/30% of Navitas’ stake of shared RKH and PL001, backed by Delek whom have the clout to develop oil and gas. As you say, they have worked together before and better the devil you know and all that.

Still, FIG have to sign the paperwork on Navitas deal with JHI and then with Eco before any partner can come onboard. Maybe we will get some insight at the AGM that is just 7 weeks away.

Surely, with what’s going on in the Middle East, Navitas will be more than keen to get cracking to first oil and not wait 3 years to start on Phase 2. Getting a partner would no doubt bump up that schedule and the rig would just carry on drilling after phase 1, maybe having a little trip into PL001 first to have a breather from development drilling, maybe then down to Isobel too. It would make a lot of sense and with another player sharing the load easily doable. More drilling in 2029 rather than waiting till 2031.

LTT

Well if nothing else we should make it to the AGM, FIG/Nav/Eco/JHI have enough going on to keep FIG occupied until Q3/4 2026 without bringing in a partner AND allowing a takeover of RKH 😬.

Hope those aren’t famous last words! 😳

LTT

Yes for sure, I hope they will explain why they haven’t been shouting from the rooftops about this opportunity, especially in the current situation. Who wouldn’t want to be part of a new oil province far away from conflict that with investment could be pumping 400-500k per day in 10 years.

I would also like to know what measures are in place to put off/stop a low ball opportunistic bid.

LTT

I agree, it would take the hassle out of timing sells if we were bought out, be nothing worse than seeing £1.25 a share, selling have my holding for it to go on to £2+ at first oil! I though they say leave some for the next person, but after all this time, I’d prefer first oil, drill on Isobel, then a £3+ offer, 🤣

I don’t want much do I.

LTT

10.9 ask in my Barclays account, interesting, plus 3.5m+ in volume, interesting indeed!

LTT

Have to agree Phil, if it was between MM's they would hardly make it so obvious LOL, it would be more covertly done.

Afraid the first we will know about it will be a 7am RNS and BOOM, off to the races or we don't get out of the gates!

Still it's nice to see the spread narrow and volume up. Maybe this is a time to say, I wouldn't want to be out over the weekend! 🫣😉

LTT

Maybe some trader having a laugh, seeing if he could get folk to bite, buying thinking it’s a broker to broker sign of an imminent deal 🤣🤔😉

Still it is very strange. Volume is up and we have a bid of 10.2p so it’s not too bad.

LTT

Maybe Navitas and partner are already in discussions to acquire 25-30% of PL001 and a similar amount of Navitas' 65% of the acreage shared with RKH. Maybe it would make a lot of sense for FIG to sign off on the JHI deal and sign on the partner there and then. Wouldn't that work? Get FIG to do it all in one go rather than agree the deal between Navitas and JHI, then at a later date, come back to have the paperwork adjusted again.🤔

Maybe that is too efficient for them to contemplate or maybe it's not possible, but seeing as Nav already have 65% of RKH acreage and they are going to get 65% of PL001, why not. Eco taking over the rest of JHI stake wouldn't affect such a deal as it's totally separate.

Then again, maybe it's better if FIG string it out, that way we get into Q4 of 2026 before the deals are done, which gives us longer to get the share price higher for any offer to come in.

Surely, we would be over £1 with the rig drilling the first development well that is targeting 55m+!

"Maybe LTT, but you have been wrong before, and don't call me Shirley!" 😂

Anyway, it was just a thought.

LTT

Hopefully Brian’s negotiating skills are on a par with Gil Holzman.

If ever there was a time to do deals with the big boys, it must be now. The Middle East situation is going to bubble away into the Summer, and then even if a deal is gone, Iran will be well aware is have the world on its knees and can play that card again in the future as they will be emboldened.

I don’t know how it will end to be honest, will it be a statement like in June last year, “Job done, the have no ☢️ capability”, only to start again. Israel won’t be happy the US leaving with the job half done!

Either way, it will focus the majors and mid caps on securing resources away from the Middle East that’s for sure.

LTT

Do you think so 🤔 sounds to me like the board are recommending this offer to share holders, take the 7.7p.

Surely it wouldn't look good if another offer came in and they started to consider it, they could then have the first offer taken away and the 2nd offer fall through. Where would that leave us!

LTT