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This will increase costs for the drill. Owning the rig means they will have to pay for the delay along with the site personnel etc, for the next 2-3weeks, aswell as the cost of fixing the rig. Very expensive.

What a lovely time to buy for a low risk high reward investment that will return multiples of 1p. Shurly shome mishtake by the market..but don't look at this gift horse in the mouth for too long, before it bolts off to the horizon, or you will miss it.

It's been way oversold. Projects are coming.

Small sellers taking tiny profits. It's a one bagger at current price on GSA agreement. Another bagger on 3D seismic upgrade (over 250km2). By end of the year 4p. I'd expect the buying to continue in the afternoon.

Pre spud this will be 3-4p withe well result taking it to 6-8p. So much news to come before that. 3D seismic result and CPR for reserves over entire 250km2 will be interesting. Should be a big upgrade in next few weeks. Might get 5p.

I personally think they are in a race against Navitas to bag an FPSO vessel before they do. They say they are taking advantage of FPSO vessels that ARE AVAILABLE FOR REDEPLOYMENT... go figure it out.

They wouldn't be looking at FPSO vessels for nothing. That's quite a bit further down the track as far as the project goes..but must be doing it as they know of vessels that can be redeployed and if so,..have some knowledge that they are not wasting their time..ie: a partner or funding coming and full steam ahead on getting a redeployed FPSO to shorten the time to production and save even more on costs.

Sounds good for Borders.

https://oilprice.com/Energy/Energy-General/Oil-Giants-Embrace-Exploration-Revival.html

Https://www.bordersandsouthern.com/media/pdf/Interim%20Results%20September%202023.pdf

In fact, if the are sorting out an FPSO now, then how do they know it's going to be available when it comes to starting the project?? There's only one answer...And that's because they are close to finalising a farmout or finance.

Sounds like they are sizing up an FPSO with the flow rates. Either they are looking at higher flows and maybe more wells due to a partner wanting to drill more wells, after all any FPSO is capable of handling the Phase 1 development plan, or, they are finalising FPSO costs for project finance debt. I think it's cryptic as they are closing in on securing a deal and can't say too much. They are certainly looking at a shorter cycle to get the project moving and monetised and bagging an FPSO now fits with that, imo.

If you read the interim statement, it's pretty clear they have project(s) lined up to announce once the dd is completed. How near or far is anyone's guess, but as previous statements of 25p warrants only lasting until May next year and 25p by end of the year, it gives a guide of what is expected by the new management team.

The new investors only came onboard in July. They hold 49% of the company. They aren't cashing in their shares as suggested. They are completing a transformational transaction that is part of their strategy. 25p warrants until May next year. Target sp of 25p by end of December as tweeted by Jason Brewer.

Https://oilprice.com/Latest-Energy-News/World-News/JPMorgan-Analyst-Sees-Energy-Supercycle-With-Oil-As-High-As-150.html

Https://es.mercopress.com/2023/09/16/gran-impulso-petrolero-en-falklands-en-el-24-al-impulso-de-navitas?utm_source=feed&utm_medium=rss&utm_content=main&utm_campaign=rss

I see we now have a Canadian oil company in the North Falklands. I wonder what they're going to do?

Maybe someone has got inside knowledge of a deal.

Big oil are investing in new oil and gas projects. It's all in BOR's favour. A deal must be now with industry sentiment doing a 180 degree turn. BOR sitting on the motherload when it comes to revenues. Can't believe nothing is happening. Risk reward is massively in favour of reward..huge bagger potential for small outlay.

https://oilprice.com/Energy/Energy-General/Energy-Security-Trumps-ESG-Agenda-For-Big-Oil.html

Farmout advanced as in they've done the Phase 1 development plan which has been costed to first production. This is part of the phased farmout process as stated in the annual report. It will form the basis of the farmout agreement. It's obviously been requested by interested partners before they can discuss commercial terms. As the development plan study was completed in January they have had plenty of time to go through it with interested partners along with the data room visits and come to a conclusion. As we know, Darwin has the best project metrics out there for a deal. It's a ready made investment proposition for any serious oiler out there that want's to make serious money. Who doesn't want to do that ?

Huge disconnect here with the oil price. Farmout advanced, so any partners needing that incentive looking at the oil price will be forced to jump in if they are serious about making cash for their shareholders and securing future production and revenues. Best it's ever been, so a deal can't be far away.