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Seems rather desperate from Ferguson. They obviously are concerned they are not going to get the deal through. You can bet that they will do a placing anyway after the deal does get approval as they just won't get enough cash in time to do the other things they want. What they want to do is not much of an investment proposition anyway. Ntorya discovery is far more accretive with the risk reward in favour of success. It really will be a kick in the balls if they do a placing anyway after saying they need this deal to avoid a dilutive placing. Squandered opportunity.

£20m Mcap is a joke. Oil price staying at +$100 for the next few years. Supply tight for LNG. BOR with a huge asset worth billions...oil companies missing out on huge opportunity to make serious cash. Bonkers.

Not much stock about then?
They don't want you buying any and making sure there is a huge spread.
Looks like a bit of buying will send it up.

Gus, maybe buy a few tomorrow.

I wonder what Mr Calgary's average is here?

I won't be surprised if Navitas farm-in to Borders licences. If they are going to send rigs down to the Falklands, might aswell piggy back Darwin onto any drilling and save costs.

Argentina is no longer a safe place commercially. If you look at the governments record on nationalising assets and increasing the taxes the uncertainty of operating their just doesn't look attractive for investment. The Falklands is much more stable and certain. Argentina huff and puff about the Falklands, but that's all it is. Navitas aren't bothered, and they actually have projects in Argentina. They know that the Falklands is massive opportunity.

Phil. Depends on the oil price. I think the answer is yes. Darwin opens up the basin as a commercial discovery. It's high producing reservoir needing only a minimal number of well. The light condensate / wet gas is in high demand. Darwin is a basin opening play. There's lots of follow on targets with similar AVO responses and flat spots. In it's own right, Darwin is a huge discovery and likely to get bigger with further appraisal. It's probably nearer 1B barrels once Darwin West get's drilled.

As they never got to the main target they will never know. They might be able to drill it again with a drillship and different well design. There are easier prospects though.

Haven't seen any flashing this week. I reckon Mr Calgary is on the threshold of 8% and is waiting to cross it when he can get enough at this low price.

Gus, start buying a few 100k and get the market moving. You can buy at 3.9p..

Our short-term objective is to monetise the Darwin discovery as quickly as possible, then return to our extensive prospect
inventory and test further exploration prospects. The first step is to secure funding / partners for the next phase of operations.

"Quickly as possible"... I wonder what their definition is of quickly as possible? Do they have options that allows them to choose the quickest route? Is this why Mr Calgary is buying? I wonder what they mean by quick? Before the licences need renewing again, or the next few weeks/months? Current oil price and global situation has raised expectations that the BoD need to deliver on. It's ripe for investment and time is pressing. Let's be having it.

Russia has just cut 60% of it's Nordstream 1 gas to Germany blaming repairs. Germany say they are going to run out of gas if they can't fill their reservoirs for winter. Energy security a big problem for Europe in a tight market.

When will Mr Calgary start buying again?
Maybe he's waiting for the AGM. I wonder if he will be there?

Technical indicators slowly turning upwards from over sold position. Nice bit of consolidation last few days around the 50ma. Buying signals getting stronger.

They are going for a farm-out. The annual report states they are planning to fund their well commitment on the licences through a farm-out before December 2022.

If he's looking to go to 10% then he'd better get on with it. Just waiting around and hoping he can get shares, he will find others will be buying and he won't be able to accumulate. There's not many sellers at these prices, as it's oversold. Unless MM's do their manipulation to scare out holders to get stock. What I want to know is what stage of the process the farmout is at...rather than just saying it continues.

We need a farmout, or sale. Oil price is only going higher. Supplies are tight. OPEC countries cannot increase supply enough to make a difference. There just isn't the oil out there. Lack of investment and the green agenda has stopped big projects and new production. Oil companies only have dwindling reserves and have not replaced production. Russian oil was relied upon too easily and now they have a huge problem that can't be put right without new projects being sanctioned. It will take time to increase production to meet demand. Meanwhile BOR sits quiet as a mouse. No heads up from the BoD. Will we ever find out why Mr Calgary was buying? It's now or never. Oil companies should be beating down BOR's door.

Oil charging up the charts.. $124.50
Little old BOR silent and still.

No Calgary buying today?