Borders & Sth. Share News (BOR)

Oil exploration group Borders & Southern said it has made strong progress towards testing the exploration potential of its prospects in the Falkland Islands in the past year.Losses from operations in the year to 31 December widened to $1.5m (£930,000) from $1.2m the previous year. "We've signed a rig contract, built a strong drilling team and are well on the way with contracting drilling equipment and services," chairman Harry Dobson said. "Everything is on track and we are now looking forward to commencing the exciting drilling programme at the end of the year."Borders & Southern has five licences in the South Falkland Basin.