Member Info for pauldrayton

I wasn’t sl@gg*ng off any investment actually gus0, simply providing the reality of BOR’s situation.

You haven’t answered yet - who is paying for the appraisal, well test and FEED?

PS. Phil, no you’re wrong. gus0 entered the RKH board and started talking rubbish about BOR so I thought it only right to correct him on here.

Gus0,

“One thing Harry said to me " are you recording this?" due to some of my questions and his replies which made me think that everything he was telling me isn't in the public domain”.

Word of warning - if ANY company ever even insinuates that you are getting info that isn’t in the public domain then run for the hills. It’s possibly the biggest red flag going and it never ends well.

Anybody reading this should take that as a MAJOR warning.

Phil,

Dr Sean Guest is a NED - he has a full time job elsewhere.

I don’t see how his involvement with BOR has any meaning whatsoever, and BOR shareholders being diluted to oblivion is not his problem (nor will it affect his reputation).

So I’d suggest you’re barking up the wrong tree.

I apologise for upsetting you gus0. I never mean to get personal - it wasn’t right of me to respond to your childish abuse in kind.

I guess the lesson for you is - don’t pick a fight with somebody who knows a lot more than you.

You keep following like a lamb to the slaughter, because that’s what you are. Fodder.

“I did have that interesting meeting with our CEO and subsurface manager, were they having me on?”

Yes is the honest answer. Many an AIM CEO has promised everything and delivered nothing. You wouldn’t be the first gullible one to fall for it. It’s obviously in the interest of their salaries that numpties keep the business going.

Gus0, rigs being available from Namibia and BOR securing them are two VERY different things.

A 20,000sq ft penthouse apartment in Canary Wharf is available and I wouldn’t mind moving to London but it doesn’t mean I’m going to get it.

BOR are a million miles from securing a rig - they haven’t got the money. Forget that, they haven’t even got approval to drill an appraisal well yet.

Deepwater rigs are expensive to hire. Where is the money coming from? Who is paying for the appraisal? Who is paying for the well test (yes they will need one)?

Enormous dilution (at best) beckons.

Garbled, as I told you on the RKH board, Navitas got 65% of a fully appraised (and tested) oil field in the shallower NFB, alongside years’ worth (and hundreds of millions’ of £s worth) of FEED. Yes they’ve altered the FDP to reduce initial costs it was basically a fully sanctionable development.

What did they pay Harbour for it?

Absolutely nothing. Zero. It wasn’t worth a penny despite significant sunk costs.

So what is a partner for BOR going to want when they’ve only drilled one exploration well so far and are years (and hundreds of millions) behind in terms of appraisal and FEED?

Don’t kid yourself, BOR will be lucky to keep anything material. Their money is running out and they will be diluted to oblivion by raising finance and bringing a partner in.

BOR is currently just a vehicle to line the board’s pockets, like much of AIM. No wonder they want gus0 to believe it’s all so cheap & easy.

I would politely suggest that gus0 is having you all on. Either that or “the board” are having him on.

BOR are running out of money, and we’ve seen how difficult it’s been for RKH to secure a partner in the NFB. If anybody wants you to believe that it’s cheaper CAPEX in the deeper SFB, that a rig is secured or that FEED is cheap then they don’t know anything about development of an oil field in a remote location. Who is going to pay for the appraisal and development, and how much of the pie are they going to want in return?

The answer is that BOR end up with very little or more than likely absolutely nothing. At the moment it’s just a vehicle to line the board’s pockets.

LTT, gus0 has been hoodwinked by a ‘meeting with the board’. You couldn’t make it up. I don’t like to say it because over the years I’ve held shares in all the FI companies and want to see them do well, but there are no white knights coming to save them. As I said Darwin is interesting but BOR will be diluted to oblivion if they’re still around for development (which is probably a decade or more away).

Gus0 you are deluded. Absolutely deluded.

If that’s who people are following on the BOR LSE board then I feel very sorry for them.

Surely the detail in such a post is very important.

In fact it’s the entire point.

Without the details being correct the point is invalid.

Garbled, Navitas got 65% of a fully appraised (and tested) oil field in the shallower NFB, alongside years’ worth (and hundreds of millions’ of £s worth) of FEED. Yes they’ve altered the FDP to reduce initial costs it was basically a fully sanctionable development.

What did they pay Harbour for it?

Absolutely nothing. Zero. It wasn’t worth a penny despite significant sunk costs.

So what is a partner for BOR going to want when they’ve only drilled one exploration well so far and are years (and hundreds of millions) behind in terms of appraisal and FEED?

Don’t kid yourself, BOR will be lucky to keep anything material. Their money is running out and they will be diluted to oblivion by raising finance and bringing a partner in.

Darwin is an interesting discovery and will probably have its day.

The problem for BOR is they are running out of money and options. They will need more than one appraisal well plus an extended period of FEED before they are development ready, and that’s if they can find a suitable partner and finance etc.

How much of the pie would a partner want? Sadly for BOR they will probably end up like ARG.

There are obviously still risks and obstacles to reaching FID I should point out, which is why the share price is where it is. But should they manage to get there then it’s a huge risk that’s been overcome.

I actually couldn’t disagree more on the examples XKR has provided. Chalk & cheese.

FID on Sea Lion eliminates the perceived risks in terms of Argentina, financing, remote location etc. It also unlocks an entire basin, not just one or two small fields.

I don’t think some people are grasping just how monumental first oil at Sea Lion would be, and the opportunities it would open up.

I don’t think we will ever see the 2010 frenzy again because those days are gone and oil is out of fashion, but if Rockhopper only gain 20-30% on FID then it really would be time to load up.

Aiminvestors (aka Godders) was outed for repetitive negative posting whilst accumulating shares. It’s worse than a troll, it’s got an agenda.

Best to ignore.

Zzzzzzzz

BOR are a decade behind RKH at least.