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As Gus says RKH got £231m cash for backcosts of 3D and drill and then were carried by PMO for £722m. Basically RKH got £1bn. BOR yet to collect.

From memory when RKH farmed out to Premier they got cash and Premier drilled the North Falkland basin spending over £250m. RKH now have a large tax liability owed to FIG as part of the proceeds from the farmout and therefore have a debt on the books for the tax liability. BOR have no debts and have yet to realise any value via a farmout. They are yet to receive any proceeds for all the work they've put in and the Darwin discovery.

Now RKH has 190m euro's coming, Navitas will be looking at sucking up BOR at this undervalued price. They could get two Sea Lions and both will pay handsomely over the long term.

And that doesn't even give a value to Darwin.

£120m is 20p. Takeout at 20p lock stock and barrel.

Any partner for BOR would find it hard to resist taking BOR out. Let's say a partner wanted to farmin for 60%. BOR have spent over £200m on 3D seismic and two drills to discover 500M barrels of rich light condensate and LPG. Any partner will have to share the cost of investment BOR have made. So 60% of £200m is £120m. Why would a major farmin and pay £120m backcosts when BOR Mcap is £30m? Might aswell take BOR out and gain 100% of the licences and Darwin.

https://twitter.com/i/broadcasts/1OwGWwajEWpGQ

Something might be happening over Bank holiday weekend. Last time it was Navitas farming into Rockhopper over the Easter BH. Ya never know!

Longterm solutions needed for energy security. Russian oil or gas not viable ever again. Big changes needed for where gas and oil come from. Falklands looking pretty.

This energy crisis is going to put the Falklands at the heart of a new energy hub for the UK Government. It's far away, it's perfect for out of sight out of mind green lobbies and a lot more secure as you will see anyone coming from mile away. The location is ideal for tanker shuttles Worldwide but also for the UK and Europe. Europe prefers sea deliveries rather than pipeline delivered gas. Piped gas means someone could tamper and switch it off. Tanker delivery much more secure delivered to a port.

Yep, great news at Rockhopper. Let's hope our illustrious board are working on a similar great announcement that will send the sp North.

Gus, it's horrifying governments aren't getting more gas out of the ground whether through new fields coming online in the North Sea under special operation for the government and funded by the tax payer in return for a long term secure gas supply with an at cost price to the public, with a 10% profit for the oil company, which can bring energy bills down, or oil companies increasing investment in new basins for oil and gas already discovered but yet to be fully appraised, for long term security, like the Falklands. Either way, high energy bills need to fall 50-60%. Just giving people money to help with bills is a temporary measure and doesn't address the long term problems. I think Russia are going to up their attacks on Ukraine and the price of oil and gas will surge again making energy bills even more expensive.

Of course, demand destruction won't work as everybody needs oil and gas especially with winter coming. No one wants to freeze to death or live in the dark. No one wants recession either. They better get cracking on new oil and gas projects and securing new reliable energy.

Oil and gas becoming desperate each day. US SPR at it's lowest about 453 million barrels and forecast to drop to 40 year lows at 358 million barrels. Gas crisis in Europe getting worse with Russia turning all supply off again for so called maintenance. energy security has totally failed and nothing to replace it. Demand destruction is all they can come up with, rather than opening up new basins with projects like Darwin. Weird or what!

Surprised this hasn't flown. Must be squeezing out the last few shares before a jump up. 500k shown up late today. Looks like a £17k buy.

Oil is heading to $130 a barrel this winter as gas turbine generators are switching over to oil generators to produce electricity for Europe. This is going to increase oil demand. You can't make this stuff up! It's surely better to open up a new basin like the Falklands and produce the oil and gas for long term security. Any straight forward thinking person would think so.

Apparently, Germany are importing ship loads of diesel (Suezmax tankers) to fire up emergency diesel generators to produce electricity. They are that desperate. Sounds like a third world country.

Incredible. Europe has trouble with Gas, Nuclear, Wind, Coal and Hydro power. The drought and Russia has killed all their energy supply. Yet the Falkland sits on a huge energy bonanza of oil and gas. Why is it not being produced? Europe going to the wall in an energy crisis. Everyone looking for new reliable oil and gas. Borders with billions of barrels sit's there all quiet.

https://oilprice.com/Energy/Energy-General/Drought-Is-Driving-European-Energy-Markets-Toward-Disaster.html

I see 200k sneaked in there late. Looks like a buy rather than a sell.

I wonder if some news is leaking. £60k trade is a big bet.