28 January 2022
Borders & Southern Petroleum plc
("Borders & Southern" or "the Company")
Production Licences
Borders & Southern Petroleum plc (AIM: BOR) provides an update on its Falkland Islands licences.
As previously communicated, the Company's Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, along with the Darwin Discovery Area Licence, are due to expire on 31 January this year. The Company confirms that it is in advanced discussions with the Falkland Islands Government about the extension of these licences.
The Company also confirms that it is working on funding options for the next period of the Licences.
A further announcement will be made shortly on both matters.
For further information, please visit www.bordersandsouthern.com or contact:
| Borders & Southern Petroleum plc Howard Obee, Chief Executive Tel: 020 7661 9348
|
| Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) James Spinney / Ritchie Balmer / Abigail Wennington Tel: 020 7409 3494
|
| Auctus Advisors LLP (Joint Broker) Jonathan Wright Tel: 07711 627449
Tavistock (Financial PR) Simon Hudson / Nick Elwes Tel: 020 7920 3150 |
Notes to Editors:
Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% interest in three Production Licences in the South Falkland Basin covering an area of nearly 10,000 square kilometres. The Company has acquired 2,517 square kilometres of 3D seismic and drilled two exploration wells, making a significant gas condensate discovery with its first well.
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