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"we have experienced an increase in interest in our project and continue to talk with potential partners"

So oil companies have been contacting BOR seeing as it says the company has experienced an increase in interest. ie: BOR haven't been chasing. Talks progressing, so it would appear they are keen and will advance talks until commercial terms can be agreed.

I guess the study into the early development of Darwin was commissioned during the reporting period 3-4 months ago. The result could be announced relatively soon. It will be interesting to see the economics for two production wells and injection well and FPSO. To save further costs the original discovery well might be viable as a gas injector. Confirmation that the production achievable from two wells is 25,000 barrels, they will have a project that will pay back in no time which will lead onto further free cash to develop the rest of Darwin. This study will be the key that unlocks the door.

Yeah I get the cash call, but it's really nothing. At 25m Mcap we're looking at 5-6% dilution for 1.5m raise. Peanuts.

Topped up 100k. Can see the stake builders will be buying at this price. Not sure why the market have dropped it considering BOR have now announced they have interested partners. Industry sentiment has changed to the Falklands.

The scale of the prospects can't be ignored. Darwin already 462 million barrels recoverable. A nice lead in for oil companies awash with cash. Maximising the low CAPEX and fast production 25,000 - 30,000 barrels from just two wells opens up the basin. Interested partners indeed.

Happy, you need to do more research.

HappyInvestor, I welcome alternative views, but you really need to do some research. Thanks.

You do realise the last open offer was oversubscribed substantially? With interested partners now it will be a scramble to get shares. Lol

I would think with partners interested and a study with lower costs, it will be a done deal with a partner or partners. The licence extension is not a problem. The small cash raise will be borne by Harry Dobson. It will be for just $1m or so. Might not even need it if partners they are in discussions with do a deal. It's pretty much obvious, so long as the oil price doesn't go back to $40. This is a fast track project with huge revenues and quick payback and large follow on prospects of billions of barrels. Who wouldn't be interested in the current climate.

Sounds like they have a lot of interest from potential partners. It's the first time BOR have said anything like that. Usually they are ultra cautious. Positive industry interest will mean partner is incoming. Convinced that Darwin is a viable commercial proposition. Harry will probably stick his hand in his pocket for another $500k and sort any small cash raise with limited funds coming from shareholders. Hard to get any shares in small raise.

These low volume days kick the sp a lot. Our buyers seem to have vanished again.

Usually end of September. Might be tomorrow or next week.

Good to see oil heading back up to $90. With winter on the way and Russian oil being banned, the tight supply is going to get tighter. China coming out of zero Covid lockdown will increase pressure on oil. Not convinced fears of recession will make a difference.

Rockhopper sound very confident in their half yearly report. I wonder how our board will sound with there half yearly report? I hope they have been doing something.

Those two gas pipelines blown up doesn't look good for Europe. Completely cut off now. The saltwater will get into those pipes and corrode the steel. I doubt it will be repaired anytime soon.

Progress on incoming investors and partners would be most welcomed in the half year update.

What I would like to know is: advancement of farm-out discussions, the early production development plan report, the UK's energy strategy and how it helps BOR, UKEF potential, any discussions in regard to UK energy security and BOR's contribution. I would expect the board to report they are advancing on all these fronts and had meetings with potential partners/government in the last 6 months, and more scheduled for the rest of the year. If not, then wtf have they been doing.

I reckon the buying stopped because the stake builders are right up against the 3% threshold. Probably waiting to see what the board say in the interims and then wait for the price to react before buying again and then releasing a holdings RNS. If the board were going to say anything interesting in the interims then there would be buying now. So it will just be a look back over the first 6 months of this year repeating what we already know.

How many of you would accept an offer of 17p a share (100m Mcap), I know I would. But my average is 1.6p

The stronger dollar means UK assets are cheap to pick up. I expect any UK company that is cheap will be on a foreign buyers list. BOR would be an easy take out target to an oil company.