Member Info for Phil164

As far as I am aware strategy is as previously stated, Harry Dobson is on record early last year as stating that he had turned down several offers of farm in deals since they did not meet the board's valuation of darwin and they are quite happy to forego the current drilling campaign and hang on till they get the right terms, history will judge whether that is very brave or very stupid but looking at the future of the sfb right now it does not look too clever. Border have cash to pay themselves, primarily, for a few years but their licence agreement does require them to drill at least one well before Oct 2017, at this point that does not look likely, whether there is a way round that only Border and the FI Govt will know.

I believe Noble have played a very brutal game of corporate poker with this drill and, in the short term at least Fogl have come off decidedly second best. See sp still dropping, I am convinced long term by the discoveries but as a long time holder of BOR I have to confess this is making me nervous.

I've never said it was a duster. Less than one month ago noble were quoted as saying that the humpback well was showing "encouraging signs"

I believe what noble were really saying in the rns is that no find in the sfb would be commercially viable in the current market environment.

They cannot call it a dry well since they had already announced oil and gas shows, so noble make an announcement that it is not commercial, a subjective assessment on information only they possess which could be defended as such in the future and is not therefore deliberately misleading the market, they say this despite apparently having taken no fluid samples or done any any analysis, yet they are still there over the well. I believe noble had already "parked" the sfb prior to commencing this drill and I am sure they are well aware in the current enviroment that the nature of the rns they released would severely hit fogl's share price making them possibly a much easier take out or cheaper asset purchase down the line. I am not a conspiracy theorist but very little of what has been released and happened over the last 6 weeks, including the noble cfo's presentation statement about billions of barrels in the Falklands, makes sense to me.

Hmmm... You are clearly someone who finds it difficult to admit to a factual mistake, so I won't waste your or my time with further debate.

"...the facts are the way things stand fogl are a company with no concrete oil finds", I suppose the share of sealion from the desire deal is a myth then ?

Dead now for the foreseeable, if and when production in nfb becomes a reality may then pick up, I am still invested here although sold out a lot at 6.5p, even despite drop would not invest more at this point unless it went sub 1p where I could seriously average down for minimal outlay, this is now one to tuck away and forget about for 2 - 3 years. sorry to be pessimistic but all imho.

Anybody have any idea on the cos? Seems they are increasing risk by moving 5km

Yes, people have long talked about humpback being the gamechanger for fogl, but the more i think about it, even though i am no expert, in my opinion the game changer for fogl and the whole FI hydrocarbons industry could in fact be isobel if the next drill goes to plan.

Why am i starting to believe that the sfb drill was already a side show before it started what with noble having bought into the nfb after the zebedee result. I may be wrong but i think fogl have to drill one well in the sfb to satisfy their licence requirements but beyond that is it possible noble rushed the end of the drill as eegbvi suggests because they have no intention of developing the sfb in the current market and now want to concentrate on the north.

On the positive side we can only have three more days like today then the only way really will be up.

I dare say I am being naive but how do they know this if they were not able to collect samples, and why did noble i am sure say less than a couple of weeks ago that there were encouaging signs at Humpback, which was after they had drilled through the main pre drill targets.

Interesting post, made even more so by fogl stating in the rns that it was not possible to recover fluid samples from the well, which info would have come from Noble.

FOGL are fully funded for their last remaining drill which is the Izzy re drill, you are quite correct we only have the one "confirmed" negative result at present, but we know from what has been previously released by FOGL and PMO that there are commercial finds at Zebedee and potentially a very significant find at Isobel, do you believe these will be worth nothing? We await these cprs in the next couple of months and it then in the short term becomes a waiting game until the market picks up without the need for a further rapid cash burn. Also, humpy would have been a bonus but it seems obvious to me that if there is development in the FIs it will start in the nfb - which is where we have our confirmed assets. IMHO the negative news is now out of the way, but DYOR.

Why won't people on here listen or do their research, FOGL have NO CONTROL over the release of cprs for any of the drills this year.

You do know fogl have no control over the cpr for zebedee dont you, its totally down to pmo as the well operators.

Sorry to be negative but I don't see a snowball's chance in hell of Border attracting a partner in the current industry environment.

Doubt you will find that any of the investors in BOR who have frequented this board over the last couple of years is in the slightest bit bothered by your antics, do you really believe we haven't seen posts like yours before.