Member Info for Mogger

All,

The Offshore Petroleum Regulatory Fees proposal has some interesting notes:-

"With Sea Lion Northern Development Area (NDA) headed towards exploitation and regulatory submissions expected for the Central Development Area and potentially the Southern Development Area in the next few years, the volume of regulatory approvals required is likely to increase, necessitating further use of external consultants and the employment of additional staff"

"Both the approval of the NDA programme and the expected forthcoming Central Development Area FDP will result in a significant increase in the workload of DMR. Executive Council has already approved the recruitment of an additional eleven members of staff (178/25 and 57/26) to regulate the Sea Lion NDA project, which is expected to result in an increase in costs of around £1m per annum"

https://assembly.gov.fk/jdownloads/Executive%20Council/Executive%20Council%20Papers/2026/08%2002%20June%202026/15-26P.pdf

Mogger

Paul,

Its quite explicit in the Navitas Q1 results

"March '28"

"The partnership continues to explore the possibility of bringing a strategic partner into the project, which could contribute to accelerating the next stages of development of the project, thereby generating additional substantial economic value. Construction work is progressing as planned and production from the project is expected to begin in March 2028. As part of the project development, the project company entered into binding agreements with major suppliers and contractors, including, among other things, agreements with two global marketing companies to market the barrels of oil from the project."

https://maya.tase.co.il/he/reports/1742498?attachmentType=pdf1

Mogger

All,

The report is now on Borders website.

Interesting to see that in these times of raising money to get the "best deal, rather than the first deal", the directors decided to give themselves a 31% pay rise. HB was slightly more at 33%.

I'm glad the shareholders' money is being spent so wisely

Mogger

https://bordersandsouthern.com/wp-content/uploads/2026/06/2025-Annual-Report.pdf

It's off to Hanøytangen, Norway

Things are starting to happen....

Mogger

All,

A question regarding Sea Lion was asked recently in the UK Parliament. It was answered today.

https://questions-statements.parliament.uk/written-questions/detail/2026-05-14/hl86

Mogger

All,

Its not often Rockhopper recruit.

https://www.linkedin.com/in/kirsty-parker-68b23618/

Mogger

Interesting that Navitas have asked for a 5 year extension to the PL001 licence. Does this suggest that they aren't planning to do much in the short term?

Mogger

Citizen,

I know from another contract being negotiated that they were being asked to bid on the lifetime of the project rather than (for example) 5 year chunks.

It's only a guess in this instance but after 12 years there might not be a need for the AM, so will sail away.

Mogger

All,

Some interesting information in Aurelia Energy ( Bluewater's Holding Company) Quarterly Results.

Regarding timing of the movement of the Aoka Mizu

"Bluewater has furnished a cancellation notice with the current customer to

terminate the existing agreements on March 1, 2026 so that the FPSO Aoka Mizu will leave the Lancaster field as per May

31, 2026"

Also confirmation of the contract length for the Aoka Mizu

"Meanwhile, Bluewater's 2025 Annual Report indicates a promising outlook for 2026, with its Aoka Mizu FPSO being reassigned to the Sea Lion project in the Falkland Islands under a 12-year fixed contract. "

https://newvision.io/industry-digest/bluewater-finds-buyer-for-fpso-first-used-in-1997

https://stamdata.com/news/api/pdf/48862fa1-ced1-4a93-be82-e5101e153ed8

Mogger

All,

Confirmation that she will be sailing away at the end of this month.

https://www.linkedin.com/posts/serica-energy-plc_serica-confirms-that-production-from-its-activity-7457776281024290816-hmk7?utm_source=social_share_send&utm_medium=android_app&rcm=ACoAAAB-3IcBBhs8OSOnZaarrB-oQtWKJXTxoSo&utm_campaign=copy_link

Mogger

All,

The Maran Nansen crude oil tanker is due to arrive at the Aoka Mizu later today. Is this the for last oil from the Lancaster field ?

https://www.marinetraffic.com/en/ais/home/shipid:373141/zoom:8

Mogger

Gus,

Look at the information I provided. Even last weeks total value was lower than the April average.

https://www.londonstockexchange.com/stock/BOR/borders-southern-petroleum-plc/trade-recap

Why do you insist on arguing with the facts?

Mogger

Gus,

Volume trend has been on a steady decline since December 2025. April volume was the lowest for 12 months.

Stop making things up.

https://www.londonstockexchange.com/stock/BOR/borders-southern-petroleum-plc/trade-recap

Mogger

All,

Mobilisation of the semi-sub has slipped by 1 month since the last fleet status report.

https://s201.q4cdn.com/439848451/files/doc_financials/2026/q1/FSR-04-26-26.pdf

Mogger

All,

It should be noted that if the license extension was indeed discussed on March 17th, then BOR would need to have informed FIG of some very important commercial information and a new cash flow forecast.

Table 3 ( pages 76 and 77) of the attached document shows all the information expected by FIG for license.

https://falklands.gov.fk/mineralresources/images/FIG_Guidance_Documents/FIG_Field_Development_Guidelines.pdf

Hopefully they have all the information required.

Mogger

All,

This may have been posted before but another new signing.

https://www.linkedin.com/in/gareth-bamford-49906238/

Mogger

Malaysia,,

That hasn't really clarified things for me because I have no idea where Rupert Williams and North Peak Resources fits into this acquisition of Rupert Resources.

I already knew that Harry was involved in North Peak - just can't see his name on the board of Resource or Agnico.

Thanks for the reply though!

Mogger

Malaysia,

I'm struggling to found out what role, if any, Harry might have had in " closing" that deal. Is he on either board or a major shareholder of either company?

He was a founding shareholder of Rupert Resources but, I thought, he had sold out a long time ago?

Mogger

Mogger

All,

Confirmation that licensing was discussed on March 17th with the MLAs

"Offshore Petroleum Licences

This was a closed paper dealing with various offshore petroleum licence matters."

https://assembly.gov.fk/jdownloads/Executive%20Council/Executive%20Council%20Summaries/2026/3%20ExCo%20Summary%20-%2017%20and%2024%20March%202026.pdf

Mogger

Phil,

Complete rubbish. I never "posted on here in Sept 2024 inferring that the licences would not be renewed"

https://www.lse.co.uk/profiles/mogger/?page=17

Mogger