REG - Borders & Southern - Sea Lion FID Announcement

Borders and Southern PetroleumAnnouncement

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RNS Number : 0518L  Borders & Southern Petroleum plc  10 December 2025

10 December 2025

 

Borders & Southern Petroleum plc

("Borders & Southern" or the "Company")

 

Sea Lion FID Announcement

 

Borders & Southern (AIM: BOR), a London based independent oil and gas
exploration company with appraisal and exploration assets offshore the
Falkland Islands, notes the announcement by Rockhopper Exploration
("Rockhopper") this morning in which operator Navitas Petroleum and Rockhopper
confirmed that a final investment decision ("FID") for the Sea Lion
development project in the North Falkland Basin, offshore the Falkland
Islands, has been taken.

 

Harry Baker, CEO of Borders and Southern, commented:

 

"We are delighted that Navitas and partner, Rockhopper, have taken FID on Sea
Lion. It is a transformational moment for all stakeholders in the Falkland
Islands. The significance of the region taking its first step towards being a
fully-fledged oil and gas producing province cannot be overestimated. FID on
Sea Lion proves that projects in the Falklands are bankable and further
enhances the value of our project.

 

We believe that FID on Sea Lion as well as the opening up of a new oil
province will re-focus attention from both the oil industry and its investors
on the area and Darwin. Our world class Darwin prospect has over 460 million
barrels of recoverable liquids, a phased development plan, very quick payback
and huge upside with 40 plus prospects that could yield over 9 billion barrels
of liquid hydrocarbons and 10Tcf of gas. We hold 100% of all our licenses.
Borders & Southern look forward to updating the market as we continue to
progress our Darwin development.

 

Borders & Southern are delighted for Sam Moody and his team at Rockhopper
in bringing the Sea Lion project on this journey from concept to development."

 

For further information please visit www.bordersandsouthern.com
(http://www.bordersandsouthern.com/)  or contact:

 

 Borders & Southern Petroleum plc      via Tavistock
 Harry Baker, CEO

 Zeus (NOMAD and Joint Broker)         Tel: 0203 829 5000
 Nick Searle

 Simon Johnson

 Antonio Bossi

 Andrew de Andrade

 Hannam & Partners (Joint Broker)      Tel: 0207 907 8500
 Neil Passmore

 Leif Powis

 Tavistock (Financial PR)              Tel: 020 7920 3150
 Simon Hudson

 Nick Elwes

 

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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