Borders & Southern Petroleum first drilling campaign in the South Falkland Basin (Seite 4)
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ISIN: GB00B08F4599 · WKN: A0ERTR · Symbol: BOR
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Marktkapitalisierung entspricht jetzt ungefähr dem Cashbestand.
Marktkapitalisierung entspricht jetzt ungefähr dem Cashbestand.
Full-year results boost Borders & Southern
By Elsa Buchanan | Mon, 08/04/2013 - 11:24
Shares in Borders & Southern Petroleum (BOR) jumped almost 7% on Monday after it announced mixed full-year results for 2012.
The company reported $1.3 million (£850,000) post-tax losses for 2012, down from $1.7 million in 2011 due to foreign exchange gains, partially offset by higher administrative expenses due to higher staff-related costs in 2012.
The company ended the year with around $56 million in cash deposits.
Operationally, the company safely executed a two-well drilling campaign in the Falkland Islands, which led to the Darwin gas condensate discovery in the South Falkland Basin. Tests showed a gas condensate discovery of between 130 and 250 million barrels of oil equivalent (mmboe), while the company estimated a most recoverable resource of 200 mmboe.
"Last year Borders & Southern enjoyed its first taste of exploration success," commented non-executive chairman Harry Dobson. "The discovery well has opened up a new hydrocarbon basin... and significantly reduced the risk profile of the company's prospect inventory."
He added: "Building on this success, the company has defined an ambitious work programme for the next two years [which] includes further technical evaluation, 3D seismic acquisition and processing, reprocessing of existing 3D seismic, securing a partner and a rig contract, well planning and finally the drilling of both appraisal and exploration wells.
"At the conclusion of this programme, the company hopes to have established a core area comprising an appraised discovery that can be taken forward for project sanction and prospects that could add further significant value."
Analyst view
Analysts had mixed views on the news. Reiterating a 'hold' recommendation on the stock, analysts at FoxDavies described the company's outlook as "buoyant, just distant".
They explained: "[The] results are not about the numbers, save for the all-important cash balance, but more about the outlook. Once there were overruns and the accumulation because a gas liquids discovery, we believe that the development costs and time horizon extended appreciably."
They believed there would need to be at least one more significant fundraising effort in the next 12 to 24 months to fund a future programme. "This, we feel, will be best achieved following by the Falkland Island Government's (FIG) announcement that it will allow limited onshore development, which will mean that the entire South Falklands Basin will be able to start the development countdown; this will also benefit the North Falklands Basin as it will permit developments such as Johnson [gas discovery] to be developed too."
They concluded: "We believe that the company has all the right ingredients to make a significant return for its shareholders, but it requires a little help from the FIG."
Leila Reddy, analyst at Panmure Gordon, maintained a 'buy' recommendation on the stock, with a target price of 68p per share, explaining 2012 had been a year of "de-risking".
Catalysts to the share price included the conclusion of a farm-out to help funding and further appraisal and exploration activities, she explained, while she anticipated "the farm-out to cover an exploration and appraisal campaign spend of some $0.5 billion".
She concluded that expected regional drilling and farm-out activities suggested "the possibility of an element of cost sharing as well as appetite for the region by new entrants into the Falklands."
http://www.iii.co.uk/articles/85125/full-year-results-boost-…
By Elsa Buchanan | Mon, 08/04/2013 - 11:24
Shares in Borders & Southern Petroleum (BOR) jumped almost 7% on Monday after it announced mixed full-year results for 2012.
The company reported $1.3 million (£850,000) post-tax losses for 2012, down from $1.7 million in 2011 due to foreign exchange gains, partially offset by higher administrative expenses due to higher staff-related costs in 2012.
The company ended the year with around $56 million in cash deposits.
Operationally, the company safely executed a two-well drilling campaign in the Falkland Islands, which led to the Darwin gas condensate discovery in the South Falkland Basin. Tests showed a gas condensate discovery of between 130 and 250 million barrels of oil equivalent (mmboe), while the company estimated a most recoverable resource of 200 mmboe.
"Last year Borders & Southern enjoyed its first taste of exploration success," commented non-executive chairman Harry Dobson. "The discovery well has opened up a new hydrocarbon basin... and significantly reduced the risk profile of the company's prospect inventory."
He added: "Building on this success, the company has defined an ambitious work programme for the next two years [which] includes further technical evaluation, 3D seismic acquisition and processing, reprocessing of existing 3D seismic, securing a partner and a rig contract, well planning and finally the drilling of both appraisal and exploration wells.
"At the conclusion of this programme, the company hopes to have established a core area comprising an appraised discovery that can be taken forward for project sanction and prospects that could add further significant value."
Analyst view
Analysts had mixed views on the news. Reiterating a 'hold' recommendation on the stock, analysts at FoxDavies described the company's outlook as "buoyant, just distant".
They explained: "[The] results are not about the numbers, save for the all-important cash balance, but more about the outlook. Once there were overruns and the accumulation because a gas liquids discovery, we believe that the development costs and time horizon extended appreciably."
They believed there would need to be at least one more significant fundraising effort in the next 12 to 24 months to fund a future programme. "This, we feel, will be best achieved following by the Falkland Island Government's (FIG) announcement that it will allow limited onshore development, which will mean that the entire South Falklands Basin will be able to start the development countdown; this will also benefit the North Falklands Basin as it will permit developments such as Johnson [gas discovery] to be developed too."
They concluded: "We believe that the company has all the right ingredients to make a significant return for its shareholders, but it requires a little help from the FIG."
Leila Reddy, analyst at Panmure Gordon, maintained a 'buy' recommendation on the stock, with a target price of 68p per share, explaining 2012 had been a year of "de-risking".
Catalysts to the share price included the conclusion of a farm-out to help funding and further appraisal and exploration activities, she explained, while she anticipated "the farm-out to cover an exploration and appraisal campaign spend of some $0.5 billion".
She concluded that expected regional drilling and farm-out activities suggested "the possibility of an element of cost sharing as well as appetite for the region by new entrants into the Falklands."
http://www.iii.co.uk/articles/85125/full-year-results-boost-…
Trading Spotlight
Borders & Southern Petroleum Plc Price Target Cut to $0.38 (BOR)
March 18th, 2013 - 0 comments - Filed Under - by Latisha Jones
Analysts at Canaccord Genuity decreased their price target on shares of Borders & Southern Petroleum Plc (LON: BOR) from $0.42 (28 GBX) to $0.38 (25 GBX) in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the stock.
Separately, analysts at Merchant Securities raised their price target on shares of Borders & Southern Petroleum Plc from $1.13 to $1.36 in a research note to investors on Monday, February 11th. They now have a “buy” rating on the stock.
Borders & Southern Petroleum Plc (LON: BOR) traded down 5.53% on Monday, hitting GBX 21.491. Borders & Southern Petroleum Plc has a 52-week low of GBX 14.058 and a 52-week high of GBX 138.182. The stock’s 50-day moving average is currently GBX 23.60.
Borders & Southern Petroleum plc is engaged in the exploration for oil and gas. The Company is also engaged in the exploration for hydrocarbons.
Quelle: http://www.dailypolitical.com/finance/stock-market/borders-s…
March 18th, 2013 - 0 comments - Filed Under - by Latisha Jones
Analysts at Canaccord Genuity decreased their price target on shares of Borders & Southern Petroleum Plc (LON: BOR) from $0.42 (28 GBX) to $0.38 (25 GBX) in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the stock.
Separately, analysts at Merchant Securities raised their price target on shares of Borders & Southern Petroleum Plc from $1.13 to $1.36 in a research note to investors on Monday, February 11th. They now have a “buy” rating on the stock.
Borders & Southern Petroleum Plc (LON: BOR) traded down 5.53% on Monday, hitting GBX 21.491. Borders & Southern Petroleum Plc has a 52-week low of GBX 14.058 and a 52-week high of GBX 138.182. The stock’s 50-day moving average is currently GBX 23.60.
Borders & Southern Petroleum plc is engaged in the exploration for oil and gas. The Company is also engaged in the exploration for hydrocarbons.
Quelle: http://www.dailypolitical.com/finance/stock-market/borders-s…
Hallo,
heute gibts news zu Borders-Southern; gefunden auf rigzone
Borders & Southern Updates Falkland Seismic Ops
by Borders & Southern Petroleum plc
|
Press Release
|
Tuesday, February 26, 2013
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Borders & Southern provided an update on its activities in the South Falkland Basin.
The PGS vessel Ramform Challenger has commenced the Company's 3D seismic program, located approximately 87 miles (140 kilometers) south of the Falkland Islands. Covering an area in excess of 386 square miles (1,000 square kilometers), the survey is situated in Quad 61, adjacent to the Company's 2007/2008 3D survey. It is anticipated that acquisition will take approximately six weeks to complete.
The 3D program has been designed to evaluate a number of fault/dip closed structures similar to the Darwin discovery, tracking the high quality shallow marine sands that comprise the Darwin reservoir. Additional objectives are to further investigate the Early Cretaceous slope fan system and to identify new prospects in areas where current data coverage is low.
heute gibts news zu Borders-Southern; gefunden auf rigzone
Borders & Southern Updates Falkland Seismic Ops
by Borders & Southern Petroleum plc
|
Press Release
|
Tuesday, February 26, 2013
change text size
Printer Friendly Version
Email this Page
Save to Favorites
Create PDF
Share on Social Bookmarking Sites
Borders & Southern provided an update on its activities in the South Falkland Basin.
The PGS vessel Ramform Challenger has commenced the Company's 3D seismic program, located approximately 87 miles (140 kilometers) south of the Falkland Islands. Covering an area in excess of 386 square miles (1,000 square kilometers), the survey is situated in Quad 61, adjacent to the Company's 2007/2008 3D survey. It is anticipated that acquisition will take approximately six weeks to complete.
The 3D program has been designed to evaluate a number of fault/dip closed structures similar to the Darwin discovery, tracking the high quality shallow marine sands that comprise the Darwin reservoir. Additional objectives are to further investigate the Early Cretaceous slope fan system and to identify new prospects in areas where current data coverage is low.
http://www.dailypolitical.com/finance/stock-market/borders-s…
Borders & Southern Petroleum Plc Price Target Raised to $1.36 at Merchant Securities (BOR)
February 12th, 2013 - Filed Under - by Tyrone Williams
Analysts at Merchant Securities increased their price target on shares of Borders & Southern Petroleum Plc (LON: BOR) from $1.13 (72 GBX) to $1.36 (87 GBX) in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the stock.
Borders & Southern Petroleum Plc opened at 24.805 on Monday. Borders & Southern Petroleum Plc has a 52-week low of GBX 14.058 and a 52-week high of GBX 138.182. The stock’s 50-day moving average is currently GBX 23.60.
Borders & Southern Petroleum plc is engaged in the exploration for oil and gas. The Company is also engaged in the exploration for hydrocarbons.
Borders & Southern Petroleum Plc Price Target Raised to $1.36 at Merchant Securities (BOR)
February 12th, 2013 - Filed Under - by Tyrone Williams
Analysts at Merchant Securities increased their price target on shares of Borders & Southern Petroleum Plc (LON: BOR) from $1.13 (72 GBX) to $1.36 (87 GBX) in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the stock.
Borders & Southern Petroleum Plc opened at 24.805 on Monday. Borders & Southern Petroleum Plc has a 52-week low of GBX 14.058 and a 52-week high of GBX 138.182. The stock’s 50-day moving average is currently GBX 23.60.
Borders & Southern Petroleum plc is engaged in the exploration for oil and gas. The Company is also engaged in the exploration for hydrocarbons.
Borders & Southern Petroleum plc -RNS
("Borders & Southern" or "the Company")
2012 Interim Financial Results
Borders & Southern (AIM: BOR) is pleased to announce its interim financial results for the six month period ending 30 June 2012.
Highlights
· Safely executed a two well exploration drilling programme in the Falkland Islands.
· Made a gas condensate discovery with recoverable liquids in the range 130 to 250 million barrels
· Identified a significant number of structural and stratigraphic prospects within the now proven Early Cretaceous play fairway
· Entered negotiations with a seismic contractor to acquire additional 3D seismic
· Cash balance (including restricted use cash) as of 30 June 2012, was $122m
· Based on current estimates, the Company will have a cash balance of $50 to $55 million after all 2012 operations expenditures have been accounted for
· In order to help fund the next phase of drilling operations, the Company will shortly look to farmout some of its 100% interest in its discovery and adjacent exploration areas.
....
http://www.bordersandsouthern.com/investor_relations/news/RN…
("Borders & Southern" or "the Company")
2012 Interim Financial Results
Borders & Southern (AIM: BOR) is pleased to announce its interim financial results for the six month period ending 30 June 2012.
Highlights
· Safely executed a two well exploration drilling programme in the Falkland Islands.
· Made a gas condensate discovery with recoverable liquids in the range 130 to 250 million barrels
· Identified a significant number of structural and stratigraphic prospects within the now proven Early Cretaceous play fairway
· Entered negotiations with a seismic contractor to acquire additional 3D seismic
· Cash balance (including restricted use cash) as of 30 June 2012, was $122m
· Based on current estimates, the Company will have a cash balance of $50 to $55 million after all 2012 operations expenditures have been accounted for
· In order to help fund the next phase of drilling operations, the Company will shortly look to farmout some of its 100% interest in its discovery and adjacent exploration areas.
....
http://www.bordersandsouthern.com/investor_relations/news/RN…
Da haben wir drauf gewartet:
RNS Number : 6716K
Borders & Southern Petroleum plc
23 August 2012
23 August 2012
Borders & Southern Petroleum plc
("Borders & Southern" or "the Company")
Darwin Fluid Analysis
Borders & Southern (AIM: BOR) is pleased to announce the results of the Darwin fluid sample analysis. As previously reported, well 61/17-1 encountered a good quality sandstone reservoir comprising 67.8m of net pay with an average porosity of 22%. The gas condensate reservoir was sampled at four separate levels with 3 fluid samples taken at each level.
The initial condensate yield from the Darwin gas samples, as measured in a laboratory separator test, varies from 123 to 140 stb/MMscf. The API gravity of the condensate is 46 to 49 degrees. Based on the condensate yield and ongoing reservoir modelling, the Company estimates the recoverable volume of condensate to be 130 to 250 million barrels with a mid case of 190 million barrels.
Following these positive laboratory results, the Board will approve a work programme that includes appraisal drilling of the Darwin discovery. Additional wells are necessary to confirm the initial resource estimates and establish a commercial development. In the coming months, activity will focus on a comprehensive technical evaluation of all the data collected from well 61/17-1 and a review of potential development concepts along with project economics.
These results have exciting implications for the Company's prospect and lead inventory and particularly for those prospects in the Lower Cretaceous play fairway to the south of the Falkland Islands. Borders & Southern's prospect inventory contains further relatively low risk structural prospects of a similar size to Darwin along with stratigraphically trapped fans of slightly higher risk but larger scale. Some of these prospects will be targeted in the next drilling phase with the objective of adding to the discovered resources of Darwin and building a core development area.
Discussions with a seismic contractor regarding the acquisition of additional 3D seismic are in progress and we plan to have a vessel in the Falklands at the start of 2013 to commence the survey. This survey will focus on similar prospects to Darwin currently outside our existing 3D area. Whilst the final costs of the 2012 drilling programme will not be fully known until after the demobilisation of the rig later in the year, the Company can state that it is fully funded for the 3D seismic acquisition and processing, the reprocessing of the Company's 2007 3D seismic data and all the technical studies that need to be undertaken on the samples collected from the two wells.
Given the encouraging results from the Darwin well, the Company will start planning the next drilling programme, which is likely to include both exploration and appraisal wells. The timing of drilling will be dependent on rig availability, but realistically this will not occur before 2014. The Company is currently exploring the best way to fund the next phase of the programme, including the possibility of now bringing in partners.
RNS Number : 6716K
Borders & Southern Petroleum plc
23 August 2012
23 August 2012
Borders & Southern Petroleum plc
("Borders & Southern" or "the Company")
Darwin Fluid Analysis
Borders & Southern (AIM: BOR) is pleased to announce the results of the Darwin fluid sample analysis. As previously reported, well 61/17-1 encountered a good quality sandstone reservoir comprising 67.8m of net pay with an average porosity of 22%. The gas condensate reservoir was sampled at four separate levels with 3 fluid samples taken at each level.
The initial condensate yield from the Darwin gas samples, as measured in a laboratory separator test, varies from 123 to 140 stb/MMscf. The API gravity of the condensate is 46 to 49 degrees. Based on the condensate yield and ongoing reservoir modelling, the Company estimates the recoverable volume of condensate to be 130 to 250 million barrels with a mid case of 190 million barrels.
Following these positive laboratory results, the Board will approve a work programme that includes appraisal drilling of the Darwin discovery. Additional wells are necessary to confirm the initial resource estimates and establish a commercial development. In the coming months, activity will focus on a comprehensive technical evaluation of all the data collected from well 61/17-1 and a review of potential development concepts along with project economics.
These results have exciting implications for the Company's prospect and lead inventory and particularly for those prospects in the Lower Cretaceous play fairway to the south of the Falkland Islands. Borders & Southern's prospect inventory contains further relatively low risk structural prospects of a similar size to Darwin along with stratigraphically trapped fans of slightly higher risk but larger scale. Some of these prospects will be targeted in the next drilling phase with the objective of adding to the discovered resources of Darwin and building a core development area.
Discussions with a seismic contractor regarding the acquisition of additional 3D seismic are in progress and we plan to have a vessel in the Falklands at the start of 2013 to commence the survey. This survey will focus on similar prospects to Darwin currently outside our existing 3D area. Whilst the final costs of the 2012 drilling programme will not be fully known until after the demobilisation of the rig later in the year, the Company can state that it is fully funded for the 3D seismic acquisition and processing, the reprocessing of the Company's 2007 3D seismic data and all the technical studies that need to be undertaken on the samples collected from the two wells.
Given the encouraging results from the Darwin well, the Company will start planning the next drilling programme, which is likely to include both exploration and appraisal wells. The timing of drilling will be dependent on rig availability, but realistically this will not occur before 2014. The Company is currently exploring the best way to fund the next phase of the programme, including the possibility of now bringing in partners.
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