Member Info for Malaysia888

Don't disagree on 25p. But my valuations suggest 30p as the possible first stop, then depending on the deal upto 79p. However until this is financed its just calculations in a spreadsheet.

Good point on the free float Gus. The median market cap of AIM stocks is £28.4 m, and after the recent rise Borders market cap is now £42.5 m. Given this and the substantial upside it cannot be ignored. Institutional AIM investment funds will start to assess the risk of not including it in their portfolios......and find little stock available in their size.

Rockhopper FID is stated to be due by mid 2025, that is just 20 weeks away.

Gus/Fin, Welcome Fin, and thank you Gus for keeping this board active over the years. Between us we have a significant % shareholding in BOR A while back Gus mentioned representing a group. If either of you wish to communicate privately I would be interested in doing so. My background is fund management.

Yep, I was wrong by a decade. The visit to the data room would have been in 2008. It's been a long time...

Wow, I have no idea why you are so upset. Calm down and think for a while. Maybe you don't understand what preemption rights are and what dilution is. You should, it is important at this stage.

Gus, before you accuse someone of BS, re read what they have written and try to understand it. I have been a fund manager for 30 years, I visited the Borders data room in 1998. I am a CFA and have invested in UK smaller company markets professionally since 1989. I do not speak BS. Please ask your friend Harry to properly consider the preemptive rights of ALL shareholders next time via a rights issue. You will remember that the last rights issue was massively oversubscribed.

The options will be excised. Ap 8p Harry will make GBP 1,254,000. At 20p he will make GBP 3,894,000. This is not free money. For us shareholders, the option value will be deducted from the offer price. Why did they only fund for a year? So that the share price is kept low due to imminent financing need. The Board will pay themselves with the cash raised, then dilute further via another dilutive placing. Gradually creeping up the directors shareholdings ala Harry Dobson.

Harry owns 3,333,333 shares worth only about GBP 65,000 bought in a directors placing at a sub market price. I think a few of us will hold multiples of that. 65k is peanuts for any successful City Broker. He has been awarded 22,000,000 options at 2.3p with a 10 year vesting period. That is pretty much in the money free optionality for a speculative high return asset and no stretch at all. Just my opinion as a 13 year shareholder watching the board line their pockets.

Harry is an ex Stock Broker, he will be lining his own pockets. Just like the Board has for the last 10 years.

Andrea Clausen, Phd, Marine sciences, University of Wales, UK

https://youtu.be/U1tC0RRZqik?si=8S-Cmj7tFUtKvImY

Good call!

Https://www.spangel.co.uk/research/#/portal/sp-angel

I agree. I wish to participate in any equity issuance. After 20 years, I don't want to be locked out of participating and diluted by a newcomer, or indeed the chairman at cheap prices.

That is a very good idea, I am a large shareholder and am happy to disclose my position to you privately.

Thank you for that. It's quite intriguing to see the foundations of the Falklands oil industry being laid.

Https://www.batimes.com.ar/news/argentina/islander-rights-will-be-respected-diana-mondino-criticised-for-malvinas-stance.phtml

Absolutely. I voted against the waiving of preemption rights (and bought more shares at 1.92). Some have argued that because the share price crashed, it was an opportunity to buy at near that level, its an odd argument, usually shareholders are pleased when their shares rise. The small army of long term private investors let the Chairman and new friends buy at a huge discount to fair value, without letting them participate through a rights issue. The last rights issue was 3x subscribed, there was huge demand from existing shareholders. Not only has fair value been diluted by 20pc, there is now the risk of a coordinated low ball take over.

Yep, an outrageous low ball consortium bid would not surprise me at all. Shareholders once again allowed the Chairman and friends to buy shares in a deeply discounted placing by waiving their preemption rights. Preemption rights enshrine the right to offer fund raising to shareholders first, not to offer a cheap entry to newcomers after 10 years of share price erosion due to the Boards strategic failure.

Gus, the point is to send a message that preemption rights are important. Waiving them is an indication of a company needing to request something out of the ordinary. ie preemption rights are in the company constitution for a reason. Why did the previous broker resign? The Chairman is not diluted as he is the the recipient of the 40pc discounted placing shares which are the reason for needing to waive preemption rights. I am sure the company already raised enough capital to satisfy the FIG without him been granted the cheap shares. BTW I find your contributions on this board very useful, specifically the valuations that you sketch out. I have held for 15 years and believe that we should soon see the 50p that reflects my view of the value available here.