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.

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.