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Preliminary Results for the 12 months ended 31 December 2008

28/05/2009
Borders & Southern Petroleum plc (or "the Company") (AIM: BOR) is pleased to announce its preliminary results for the 12 months to 31 December 2008.

Highlights

  • Completed 3D seismic acquisition and processing
  • Completed the interpretation of the fast track and fully processed data
  • Integrated 3D interpretation into regional evaluation
  • Compiled ranked prospect inventory
  • In a position to define drilling locations
  • Concluded benthic sampling programme
  • Progressing Environmental Impact Assessment
  • Cash balance as at 31 December 2008 was US$19.5 million

Harry Dobson, Chairman of Borders & Southern, commented “We believe that our extensive technical programme has allowed us to define a robust, high value prospect inventory. We now intend to seek partners for our South Falkland Basin licenses and we are optimistic that other companies will share our positive views on the high prospectivity”

For further information please contact:
Howard Obee
Borders & Southern Petroleum plc
Tel: 020 7661 9348

Simon Hudson
Tavistock Communications
Tel: 020 7920 3150

Katherine Roe
Panmure Gordon (UK) Limited
Tel: 020 7459 3600

Guy Wilkes
Ocean Equities
Tel: 020 77864370

Acrobat PDF document Click here to download a PDF file of the full Preliminary Results - 44kb