Member Info for PageofCups

The point is, they need to demonstrate they have the financing by the end of January to be granted the extension of the production licences and the discovery licence in order to carry out the work obligations as stated.

Dyor.

https://www.bordersandsouthern.com/media/pdf/B&S_AGM_2016.pdf

Licences:

Discovery Area:
- New expiry date 31st January 2022.
- A further 5 year extension is possible if the discovery has been appraised (discovery not appraised yet).

Production Licences:
- Extended by 3 years - new expiry date 31st October 2020.
- Existing one well commitment remains in place.
- licences can be extended for further 6 years with an additional work programme.

RNS dated 26th October 2020.

26 October 2020
Borders & Southern Petroleum plc

("Borders & Southern" or "the Company")

Production Licences extension

Borders & Southern Petroleum plc (AIM: BOR) is pleased to announce that it has been granted an extension to its Falkland Islands licences.

The Company's Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, were due to expire on 31 October this year. In light of the approaching expiry date the Company applied for, and has been granted, an extension to these licences by the Falkland Islands Government. The new expiry date for the licences will be 31 January 2022, which brings them in line with the expiry date for the Company's Darwin Discovery Area Licence. There is no additional work programme commitment associated with the licence extension.

The Capex for Darwin development is about $1.5-2Bn, so will need a partner for that.
Drilling just one well is about $40-60m. If they are going it alone, they will need to demonstrate they have cash.

Looks like the production licence was also extended to 31st January 2022. SO they need to demonstrate they can drill at least 1 well by the end of January to get an extension. Jeez...cutting it fine.

Financial obligations under the second phase of licence is 1 well. The discovered area has been extended to January 2022. The production area extended to October 2020. What happened after October 2020?

Can see this gradually rising over next few days and weeks with boom around seismic results.

Ask yourself, why have the directors not been buying??

Gross Late Albian Package target at Ntorya 3 greater than 200m thick. Slide 14.
http://admin.aminex-plc.com/uploadfiles/160425_Aminex%20Corporate%20Presentation%20April%202016.pdf

Gross Late Albian Package target at Ntorya 3 greater than 200m thick. Slide 14.
http://admin.aminex-plc.com/uploadfiles/160425_Aminex%20Corporate%20Presentation%20April%202016.pdf

Oil can be seen in the mud.
http://admin.aminex-plc.com/uploadfiles/20170307_Ntorya-2%20Appraisal%20Presentation.pdf

When they get the 3D they won't be selling. Huge reservoir will show up +200m thick.

This was up yesterday. it looks as if the MM's know a rise is coming and are shaking a few out. Pretty sure 3D seismic news is around the corner. Also sure that Ruvuma will be sold. The 3D will reveal quite a lot, imho.

With a proven gas asset, why don't the BoD arrange some debt to fund the drill?

No movement on Scirocco. AEX up 30%!

The herd not even turned up yet. No doubt the twits on twitter will be tipping AEX once they've bought in.

Stupidly undervalued compared to peers, like CHAR, HE1.

Paying 0.9p now.

Another 3,260,110 @ 0.85p..going up.

4p it is then. Would you like fries with that?

https://twitter.com/james_ashton_/status/1481548743770091521