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Oil nearing $80. The second half of 2023 should see higher prices. Saudi Arabia extending the 1m barrel a day cut throughout August, so pressure will be on oil to rise. Great timing for farm-out discussions and decisions. Pay back at Darwin little over 12 months. Can't see an oil company worrying about the economics. I guess it comes down to enthusiasm for the project. If Darwin doesn't get the oil and gas industry enthused...nothing will.

It's pretty simple. No signatures, no gas. Government need gas. So sign.

Obviously optimising CH-1 has also caused a delay in signing a rig.

I get the impression APT have been holding off the rig contract until the Tanzanian authorities agree/sign the GSA, FDP, and development licence. Hopefully it's given them some clout to get a good GSA, and that now they have all agreements ready for signing they will move quite quickly to sign a rig.

Everything moving along nicely. GSA agreed, Field Development agreed, CH-1 location optimised and chosen, 3D seismic material increase in reserves by Q4. Gas by end of the year.

$12.1 trillion investment is needed to meet global oil and gas demand to 2045.

https://oilprice.com/Latest-Energy-News/World-News/OPEC-Expects-Global-Energy-Demand-To-Jump-By-23-By-2045.html

I always review my investments every 6 months looking at where a company is and think to myself would I buy shares today. In Borders case it's a big yes. considering 12 months ago this was 6-7p, and things have moved forward with the knowledge the company has a fully costed phase 1 development independently verified to pay back in 1 -2 years and with the sentiment in the industry completed changed and the company in full farm-out mode, it makes the sp of 2.5p an astonishing bargain. The realisation of a farm out once completed will make this 10 bag. Who can ignore that type of return knowing the chances of a farm out are more than likely.

It's fair to say Borders is no longer being ignored by oil majors and independents. Industry sentiment has changed. Energy security and the energy transition being the key driver for companies to pivot away from green renewables and focus on offshore low carbon high production oil and gas projects of scale that can provide energy security and low carbon footprint barrels. This means offshore projects which are ready to go like Darwin and Borders. Oil and gas demand is increasing year on year and won't peak until 2050 and needs to be met. Sentiment in the industry has shifted hugely, Shell BP etc, announcing they are investing in oil and gas to return value to shareholders. The market is yet to catch up on the pivot by the industry to companies with valuable discoveries that meet the criteria such as Borders who are uniquely positioned to capitalise. Huge opportunity which can be maximised at this price before everyone realises what's coming.

I have scoured all the o&g stocks available and this one is the only one that has a massive discovery and a follow on prospective inventory fully appraised to high definition with inverse PSDM seismic conversion confirming 1B barrels of prospectivity in close proximity to Darwin within 15km2, and a further 6B barrels with 3D seismic on the rest of the licences. We have majors citing energy security and transition pivoting to heavily looking for new areas of low carbon, high production. quick payback projects. How many of those are there kicking around??

They can either pay $100's of millions securing new exploration licences in new areas offshore Guyana, Suriname, Namibia and spend years and millions surveying them and gathering interpreting data , and at some point drill an exploration well....or do a deal with Borders who've done it all for them, and go straight to Phase 1 production by drilling 3 wells and have 25-30K bpd flowing, with7B barrels of running room. What would you do as an oil executive?? Sounds like a trick question.

Big Oil Revives Offshore Exploration.

This article could have been written for Borders and the Darwin discovery. It's so relevant and shows you what's around the corner. Should make a few shillings out of this.

https://oilprice.com/Energy/Energy-General/Big-Oil-Revives-Offshore-Exploration.html

Last one from me, but here's my interpretation of what PG has said on the MOU3 results, and I've highlighted the pertinent words in capitals that confirm that PG has in fact not announced any gas discovery of any sorts, but quite clearly says they have validated a SAND DEVELOPMENT that could contain POTENTIAL gas reservoirs and that all the wells need to be tested to see if this sand contains any commercial gas. Call me old fashioned, but not a discovery...yet!

Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented :

"The MOU-3 well has validated our pre-drill upside forecast for SAND DEVELOPMENT in respect of the main Moulouya Fan target. A gross interval of 43 metres will be evaluated by a rigless well test.

It has increased our inventory of POTENTIAL gas reservoirs for a CNG development with the discovery of very shallow over-pressured gas.

It has demonstrated the POSSIBLE continuity, subject to rigless testing results and a future infill well, of gas sands penetrated in MOU-1 with similar sands encountered in MOU-3. In particular the Ma Sand POTENTIAL has been enhanced over a wider area with the POSSIBILITY of a larger gas trap being effectively sealed covering up to 58km(2). The shallow gas POTENTIAL of MOU-3 has exceeded all pre-drill expectations.

The focus will now be on drilling and completing MOU-4 where we do not expect shallow gas to be present. Targets are the Moulouya Fan and the so far unknown potential of the Jurassic carbonates within a very large structural closure.

Once the MOU-4 drilling is complete, results from all the wells drilled in 2023 will be quickly assessed and compared and a comprehensive and expanded rigless testing programme will then commence during July."

Come on guys..PG moved silently from MOU1 to MOU2, then MOU2 to MOU3, now MOU3 to MOU4. I get they're tight for cash and can't do the whole shebang of testing etc, but if this was some huge monster gas field, you would know if you had a decent discovery by now, unless they're drilling in the wrong place, as the pressures would be 5000-6000psi. It's looking like it's the last shot at the carbonate in MOU4 for any sign of significant HC's.. Listen to what you're NOT being told and read between the lines. I'd be the first to say well done on a huge commercial discovery, but mother nature is fickle and evidence suggest it's not.

Just giving folk a heads up on what they should be looking for on a multi TCF discovery. I hope PRD makes it, but so far not seen it. Call me old fashioned.

Gap the stock up signal from the MM with a 500 trade.

Maybe the machine is about to engage.

The Omani's own 30% shareholding.

Aye, 40m Mcap.

Apologies for the off topic. Aminex

As an example of what I would like to see at PRD, there is a company that has made a discovery of 3.2TCF of gas onshore Africa, 30km away from a gas plant that can handle 200MMcftd and the government are currently building a pipeline from the discovered gas field at no cost to this little tiddler. This tiddler drilled two wells and flowed 20mmcft/d from the top 3m reservoir out of 19m thick pay in the first well, and flowed another 20mcftd from the second well which was updip and had 59m of pay. Having already proved commercial flow rates and 3.2TCF, they have done 3D seismic that is about to hit the market to prove up an estimated GIIP of 8TCF. They have a multi billion dollar Omani partner who has taken 50% and is developing the gas field and are committed to producing a minimum140MMcftd on a free carry for this little tiddler. This is what I would call positive. Even more..you can buy this tiddler currently for 1p and a Mcap of £40m. PRD have some explaining to do with their results, imo. Call me old fashioned!

I haven't seen one result yet from 3 drilled wells that says any of this is commercial, so I am somewhat sceptical you could say..Lol. I mean has anyone seen a definitive result yet?...Call me old fashioned!

Come on guys. They don't have enough cash to drill deeper. They may do a placing when they get to 1200m, but the price will depend on if they have found anything. Could be a raise as a last resort, at which point it will be heavily discounted, or announce they've reached TD with gas or oil and have done a placing at then current sp to drill deeper. They could be zooming down with the drill bit ahead of schedule and get a bit deeper but not much deeper without further cash.. imo.