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At least oil is going up! $78 a barrel. Might break $80.
One hedge fund reckons we will have $140 this year.
Bonanza for anyone farming in to Darwin.
It's now or never!

Sounds like our Calgary friend controlling the price for his accumulating. As mentioned, we have final results next week, if nothing else is happening that may delay them. I would like to hear more guidance on the farmout. Data room open? A&D firm appointed to conduct farmout? Any other finance negotiations? How has the engineering report been received by potential partners? Lets hear all this and more please. Lets hope they at least sound positive with their comments that will give optimism and confidence that they've got this.

Falklands Global A+ investment rating.
https://en.mercopress.com/2023/03/25/falklands-retains-global-a-investment-rating-financial-and-political-stability-crucial-for-the-achievement/comments

The project fundamentals are strong and the farm-down process would likely appeal to an existing independent offshore producer with free cash flowing assets that is looking to reinvest and grow its asset portfolio. Sub-surface risks are low and economic projections are attractive, presenting a compelling risk/reward opportunity for an E&P that is either unable to participate in the current exploration hotspots of the Orange and Suriname-Guyana Basins, or is unwilling to pay the higher entry prices to access comparable resources in the Golden Triangle.

GENEL are looking for new investment projects and have $500m in cash available. Could easily afford the initial drilling costs as most oil companies can with all the cash they have available..

The cost of drilling is $200m for three wells. If they had a drill rig that can drill one firm well with the option to follow up with two wells then the initial cost in case the first well was a dud is even less. By the time the first well is drilled and flow tested successfully the rest would be a no brainer. So really just need to get enough cash to drill the first well.

Extract from the report below say's they have an A&D firm doing the farmout, (Acquisition & Divestitures).

As a result of the higher oil price environment in 2022, Borders’ noted an increase in interest from potential third party industry farm-in partners, which coincided with a re-marketing initiative to attract partners. The good sub-surface characteristics of the Darwin accumulation, the quality of the reservoir and its exceptional imaging on seismic have all been appreciated during prior farm-out processes. However, recent work has focussed on defining less capital-intensive development options and early production possibilities, which has enabled a refreshed farm-out process to resume with a specialist A&D firm.

Based on the new phased development concept, the next stage requires appraisal drilling on the Darwin East discovery to verify the contingent resource estimates and a flow test to confirm that reservoir deliverability is in line with forecast commercial rates. This appraisal well could then be completed as the first of the two production wells required in the Phase 1 development concept. The rig would then complete the remainder of the drilling programme, consisting of a second production well and an injection well to recycle the dry gas back into the reservoir. Borders estimates a total $200m capital outlay to mobilise a drilling rig and related oilfield services to the Falkland Islands for this initial three well programme.

According to Rockhopper update today, to get to first oil at Sea Lion costs $1.3B. Darwin costs half this at $640m and self funding after 1 or 2 years. Darwin economics seem way better.

BOR is largely forgotten about and ignored by investors. Interesting that SP Angel is now covering and is advising to buy and has a target of 8p. They probably have the inside track and need to alert their clients.

Brimacombe must be close to 10%. The huge spread stops any significant buys and allows him to come back and resume buying where he left off. The Board need to come up with the funding or farmout or at least show they have made progress in negotiations in what is now a fertile environment for investment.

So where's the oil in mud come from?
http://admin.aminex-plc.com/uploadfiles/20170307_Ntorya-2%20Appraisal%20Presentation.pdf

New basins and lower carbon footprint projects prioritised. Not enough new projects out there to invest in with low carbon footprints. Anyone heard of Drawin??

https://oilprice.com/Energy/Crude-Oil/Oil-Majors-Juggle-Cheaper-Crude-With-Lower-Emissions.html

Ok call me a conspiracy theorist but I have just seen 17 shares as a buy for both BOR and RKH at exactly the same time 15:57:05 to the second. That is just too much a coincidence. Go check for yourself.. 17p anyone?

There are signs this is being wheeled out to the launch pad.. Just need all the engines to fire when the countdown gets to zero. It can't be far away..

Rockhopper going up aswell. I wonder if the two are connected..

I see there was a 700k sell on Friday late afternoon and the sp still finished blue.

All the sells at 3.2 - 3.3p are buys..

Mr Calgary must be on the verge of acquiring another 7m shares (1%) and a holdings RNS. Must be picking up a few today now the sell is over 3p. When they're done, move on to mid 3's.

This fits perfectly the Darwin Project.

“Offshore oil and gas production isn’t going anywhere, and the sector matters now possibly more than ever. As one of the lower carbon-intensive methods of extracting hydrocarbons, offshore operators and service companies should expect a windfall in the coming years as global superpowers try to reduce their carbon footprint while advancing the energy transition,” says Audun Martinsen, head of supply chain research with Rystad Energy.

https://oilprice.com/Energy/Crude-Oil/Offshore-Oil-And-Gas-Is-Back-With-More-Than-200-Billion-In-New-Investment.html

That's some premium. I wonder what prompted them to splash £35k on little old BOR.

Looking good. That 1m buy was yesterday.

Looking like a steady rise from here on. Rig arriving on site to workover NT2 with flow rates along with all the other news coming means lots of news to increase the sp. The earlier you buy the more profit.