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I get the feeling the MM's know what's coming and would love to drop the sp to get loads of shares just like they did with Rockhopper before they announced they had found oil.

On ADVFN someone has posted that the windfall tax lasts until 2025? If that's the case, then Borders surely even more attractive commercially.

Gas pressures are huge were huge at NT1 and NT2. Producing 20MMcft per day on test from just a few feet of the top reservoir. Production rates dependent on reservoir thickness, permeability/porosity and pressure along with perforation and surface facilities capacity. 140MMcft a day target. So say 5 wells at 30MMcft a day is not unreasonable to assume. Possibly 4 wells at 35MMcft. Testing of CH-1 will be key.

Is it your tea?

Mr Calgary buying more me thinks..

Falklands is very attractive in terms of the tax regime. 9% royalty is very low. Royalty is 15% in Gulf of Mexico and elsewhere. Shell have always complained about royalties and think they should be lower..you won't get lower than The Falklands.

The Falkland Islands Government is committed to ensuring that the overall fiscal regime remains attractive and conducive to attracting future investment.

Royalties
A royalty of nine per cent (9%) is payable on the market value of any petroleum won.

Provision has been made in the legislation for the royalty to be reduced at the discretion of the Governor if:

reduced royalty payments would encourage development of smaller fields which would not otherwise be economic
needed to extend the life of a producing field in any extended period of extraordinarily low petroleum prices a 9% royalty would lead to the abandonment of a field.

Royalties will be payable in respect of six-month periods ending as set out in the Offshore Petroleum (Licensing) Regulations 1995 & 2000.

Corporation tax
Corporation tax is 26% on all profits from exploration and extraction activities.

Falklands 9% royalty and 26% corporation tax. (35%)
North Sea 30% corporation tax, 10% surcharge and 25% windfall tax on profit. (65%)

Today's extra 25% windfall tax is on top of current 40% the government already take. It will make some projects in the North Sea uneconomical. Majors will have to look elsewhere for projects that can bring in decent profits. Darwin costs are less than $35 per barrel with much lower tax.

Rookie, I'd say a big yes.

Makes sense that the board are busy right now, hence the delay in the annual report.

About time Mr Calgary started buying again. He needs to get to 10-11% to be the same as Big H.

I think you'll find the Falkland Islands Government are in charge of their own taxes. Where would you rather drill if you were an o&g company. The North Sea where you might drill a dry well and pay over 50% tax on any production plus impending windfall tax, or Darwin, where you have a huge discovery of LPG condensate so no dry well, massive flow rates per well and lower taxes. 9% royalty, 26% corporation tax.

Some Darwin news.
https://en.mercopress.com/2022/05/24/new-darwin-plus-initiative-funding-for-falklands-new-island-nature-reserve

Mr Calgary is going to rival Big H's 10% holding.
Big H had better get buying imho..

Mr Calagary stake building before BOOM !!!

There's the 7% ;o)

Big Daddy...Easy, Easy, Easy, Easy...Lol

Which one?...the Holdings RNS the annual report RNS with snippets of juicy info...or the big daddy RNS :o)

6p on the ask..Mr Calgary buying this pm.