REG - Borders & Southern - Production Licences

Borders and Southern PetroleumAnnouncement

28/01/2022 15:25

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RNS Number : 0335A  Borders & Southern Petroleum plc  28 January 2022

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
(http://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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