Thursday, September 12, 2013

Border Petroleum Corp. (BOR)

--this cheapie could easily double with high oil prices. It's been trading at 1.5c.;
down from a high of 16c. in the past year.
 
Border Petroleum Corp. (TSXV:BOR) is a publicly traded junior oil and gas company with its head office in Calgary, Alberta. The Company is focused on the development and exploitation of its light oil resource lands in the Red Earth area of north central Alberta and Leduc area of central Alberta.
Border has an experienced and skilled management team focused on building shareholder value by finding and developing light oil production and reserves.
The Company is actively developing and expanding its inventory of operated, high working interest horizontal drilling opportunities on the Slave Point light oil resource play in the Red Earth/Evi area of north central Alberta. Border also has oil operations and production in the greater Leduc area of central Alberta.
 
CORPORATE UPDATE
Border currently has a positive working capital balance of approximately $7.2 million and an unutilized bank line of $3.5 million. Border's current total production is approximately 176 boepd (15 percent liquids). Border's tax pool balance as at March 31, 2013 was approximately $45.4 million. Further, after taking into account qualifying expenditures of approximately $1.0 million in the quarter ended March 31, 2013, the Company has approximately $2.0 million of outstanding obligations to incur Canadian Exploration Expenses related to the September, 2012 flow-through share issuance.
On April 29, 2013, Border announced that it had formed a Special Committee of independent directors and initiated a strategic review process to identify, examine and consider a range of strategic alternatives available to Border, with a view to maximizing shareholder value. This process could result in a sale of the Corporation, a sale of a material portion of the Corporation's assets, a merger, business combination or a corporate reorganization, among other alternatives. The Special Committee has retained Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. as co-financial advisors to assist in the strategic review process.
The strategic review process is ongoing and Border does not intend to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a definitive transaction or strategic option, or unless otherwise required by law or disclosure of which is deemed appropriate.

Read more at http://www.stockhouse.com/news/press-releases/2013/07/29/border-announces-filing-of-financials-annual-information-form-and-reserves-data#4VhAb4VlzJPx58yO.99
 
 
 

No comments:

Post a Comment

GOLD/SILVER AND ENERGY SUMMARIES...

Interesting videos: Dow Jones vs Silver Price, Oil &etc. Top blogs award https://www.youtube.com/watch?v=9H9239mBj8...