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Deals and farmouts are currently being done all over the place. With the huge prize on offer, Borders isn't being left out.

If they are going to raise a bit of cash and shareholders are excluded from participating, but the existing large holders are participating, then let's insist that they at least pay a premium to the sp, say 3p, so we are not hit with a cheap fund raise like last time.

Shareholders need to be protected and compensated for not being able to take part. A raise at a higher sp will also show that the big shareholders have confidence in the new CEO's ability of securing a deal and send a signal to the market.

That's even if they do a raise.

SQ320, I think you could be right !!

A visit to Oman also means that the Tanzanians can meet Omani government officials and royal family. A signing could well have the latter present.

Good find StockCheque. It's all happening!

The huge onshore discovery at Ntorya 16TCF, has transformed the governments' position in being able to negotiate with the oil majors for the offshore gas LNG projects. Basically, they don't need offshore gas immediately with such a huge onshore discovery that can come online quickly.

Wow.. can currently buy at 2.3p. this close to a farmout. The sp has dropped on nothing volume. Maybe MM's are shaking out holders...everything is ripe for a deal.

Remember the £85k at 3p. Probably the same buyer.

Yes I know. Can't edit unfortunately.

I see were in bargain territory again.

Deepwater drilling booming again as oil companies look for bigger fields. South Atlantic margin is of great interest to oil companies.

https://oilprice.com/Energy/Energy-General/Deepwater-Exploration-Is-Booming-Again.html

A drill ship with 3 well options capable of drilling at Darwin. BP and Total opening up a new basin in the South Falklands on an already discovered 460 million barrels would be a quick money earner, if the new Argentine government are fine with it. They want better trading relations and need the UK at the IMF.

Nigel, Valaris Renaissance DS-15 is contracted out to BP and Total for operations in Brazil until Jul 25. Two 160 day options and one 120 day option. See fleet status link.

https://s23.q4cdn.com/956522167/files/doc_downloads/fleet-status-report/2024/04302024-Fleet-Status-Report_FINAL.pdf

Rookie. It's about 900 miles north of Falklands. Sounds a lot but it's a geology on trend with Namibia. It was once part of the same continent of Africa before drifting to the South Atlantic. Same as the Falklands.

Drillship Valaris D-17 is already on location offshore Argentina and is drilling the Argerich1 well. It arrived on 24/04/2024. The well is expected to take 50-60 days.

The working capital is sufficient until at least 31 December 2024 as set out in the fundraising circular. Cash balance at 30 June 2023 was $2.4m. Cash balance to year end 2023 will be about $2m, and appreciation of the pound against the dollar. Licence renewal is at the end of this year, and funding from a partner or finance incoming on the back of negotiations coming to a conclusion. Navitas will be completing FID this year by July/August so expect this will pave the way for BOR in monetising Darwin as the risk of investing in oil projects in the Falklands reduces. Navitas likely to farmin to BOR dependent on the additional partner entering Sea Lion with Naviats. A lot of moving parts being synchronised. It's coming.

The Valaris D-17 drillship is drilling offshore Argentina. Namibia oil finds are similar to the Falklands and offshore Argentina as the Gondwana land continent of South America and Africa were connected until they drifted apart. Will be interesting to see the well result offshore Argentina. The rig is contracted until April 2025 with Equinor.

Energy Minister speaking about oil in Tanzania.

https://twitter.com/Hakingowi/status/1784831998512578944

The change in CEO is probably down to the big shareholders wanting someone who has contacts to get finance and funding. Harry Baker is well connected. The fact Brimacombe increased his holding to over 10% followed by Mason to over 7% is a sign they approve. There is now the pressure on farmout partners to farmin, or potentially lose out to BORs own funding and finance through the new CEO's contacts.

Mcap of £50m for a world class gas field and full carry to revenue. Doesn't make sense. The value about to be unlocked here is mind boggling.

A purchased rig makes sense. There is 16Tcf.