company

company background

Borders & Southern Petroleum Plc is a UK-based company engaged in the exploration of hydrocarbons. The Company was incorporated in June 2004. It has offices at 33 St James's Square, London. The company is registered in England and Wales and its main country of operation is The Falkland Islands.

November 2004 - The Company was awarded its first exploration licences in the Falkland Islands.

May 2005 - The Company listed on AIM (London Stock Exchange) raising £10m (gross). Later that year Borders & Southern Petroleum Plc incorporated its sole subsidiary, Borders & Southern Falkland Islands Limited.

2005 - Commenced operations in the Falkland Islands, acquiring 2,862 km of 2D seismic.

2007 - Raised £15m (gross) through a Placing and a further $10m through a Subscription Agreement with PGS.

2008 - Acquired 1,492 square kilometres of 3D seismic.

2009 - Raised $195m (gross) through a Placing in preparation for its drilling campaign.

2012 - Completed a two well drilling programme. The first well delivered a significant, liquids rich, gas condensate discovery (Darwin) and the second well had strong gas shows. The Company raised a further $75m (gross).

November 2012 - The Company relinquished 50% of its acreage and entered the second exploration term under its licences, committing to drill one exploration well.

2013 - Acquired 1,025 square kilometres of 3D seismic.

2014 – Reprocessed and merged the two 3D seismic surveys to create 2,521 square kilometres of high quality PSDM 3D seismic.

2015 – Received extensions to Production Licences and Discovery Area licence.

2016 – Completed Darwin reservoir modelling and scoping development studies. Defined options for appraisal drilling.