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Depends how you value 462MMb of recoverable condensate and LPG. At just $1 per barrel in the ground that's $462m just as an idea. ARG had no value as it had no discovery. Just had licences and the right to explore. Hence it wasn't worth much.

Put it in auction now.

Trying to keep it under 2.75p so the technical's don't break 3p. When 2.75p breaks next resistance is 3.145p

The bid is higher than the ask, 2.74/2.72p.

Interesting that Harbour Energy in today's Ops update say they are reducing their activity levels in the UK due to the energy profits levy and are looking internationally at projects. UK tax on ops is 75%. The Falklands is 26% and 9% royalty. Half the amount.

Oil heading for $90.

Too big to ignore now.

Good to see this break 2.5p. Can get some higher prices printed.
£18m Mcap is ridiculously cheap for what BOR has. I bet the oil companies are thinking can they buy BOR for peanuts?

Significant Upside Potential
A large prospect inventory - in excess of 7 billion barrels un-risked estimated resource (Management estimates),
including over 1 billion barrels associated with near-field targets (many with seismic amplitude support).

Sounds good to me.

The appraisal and development wells could be compressed into one drilling campaign.
- the first well would be cored and flow tested.
- if flow rates confirm our reservoir modelling predictions, the well could be saved as a producer.
- two additional wells could then be drilled, a second production well and a gas injection well.
- pre-FEED studies could be initiated as soon as the successful flow tested has been achieved.

I wonder if our Canadian investor is upping his stake ?

I agree Yobbo. Any other company would be doing a video presentation.

https://www.bordersandsouthern.com/media/pdf/Darwin%20Update%20January%202023.pdf

Self funding after payback from free cashflow. In one year !

Assuming the FPSO is leased, the capital requirement, excluding contingency, for the drilling, subsea, and project costs is estimated to be approximately $640 million. Based on Management's scoping study economic modelling, payback could be achieved within two years of first production (assuming $60/bbl oil price). This changes to one year with a $90/bbl oil price.

Payback within one year at $90 a barrel. Less than 2 years at $60. Production after payback rising from 26k to 70k bopd. $$$$$$

Good to see this is finishing slightly up everyday. Pressure building on the price for further moves upwards. Our Canadian interest will be picking up all he can at this silly price without shooting the price up. Just needs a few buyers to join in for bigger gains.

I would say you got a good price.

Yep, something is going on. It was interesting we have a Canadian company taking over ARG licences on the cheap. It indicates that The Falklands are being looked at by Canadian oil companies. Therefore, BOR with it's huge discovery at Darwin and it's follow on look alike low risk prospects which total in excess of 5 billion barrels, can't be ignored and is going to require some serious cash to buy it. To get around this, we have our Canadian investor building a high % holding in the company by stealthy share buying on someone's behalf to become the largest holder which helps the acquirer to takeover the company at a lower price (15-20p). I think the pace of accumulating will pick up before the early production study gets released in order to make a move on taking out the company. I guess we will know how true all this is by any further holding announcements.

Timing is everything. Brimacombe loading up at today's price.

We went to 8p last time. See how high he takes it this time.

Looks like he's picking a load more up today at 2.15p