Borders & Sth. Regulatory News (BOR)

8 Jun 2005 07:00

Borders & Southern Petroleum plc08 June 2005 Embargoed until 07.00, 8 June 2005 Borders & Southern Petroleum plc First seismic survey completed Borders & Southern Petroleum plc (or "the Company") (AIM: BOR), theinternational oil and gas exploration and production business, announces that ithas successfully completed its 2D seismic survey within its 19,598 sq kmoffshore Falkland Islands acreage. The survey was carried out on the Company'sbehalf by Geophysical Service Incorporated, which used its vessel, the GSIAdmiral, to acquire 2860km of 2D data. This comprised a regional grid over theentire licensed area along with an infill grid over a high-graded area ofinterest. The processing and interpretation of the seismic data will take place over thecoming months. The results from the 2D interpretation will be used to decidewhether a 3D seismic survey will be acquired prior to drilling the first well. Commenting on the seismic survey, Howard Obee, Borders & Southern's ChiefExecutive Officer said: "This is a significant milestone for the Company. Wehave completed our first operated seismic survey on budget, without any HSEincidents and within less than a year from the Company's incorporation. This isan excellent result and reflects the fast-track exploration programme in theFalklands that we outlined at the time of our IPO. We now look forward toreceiving the processed data so that we can fully evaluate these excitingFalkland Islands licences". For further information please contact: Howard ObeeChief ExecutiveBorders & Southern Petroleum plcTel: 020 7661 9348 Simon Hudson / Richard Sunderland / Clemmie CarrTavistock CommunicationsTel: 020 7920 3150 or 07966 477 256 Notes to Editors B&S was formed as a public limited company in June 2004. At that time, theCompany submitted an application for its first project, offshore explorationacreage over 19,598 square kilometres of the Falkland Plateau sub-basin,southeast of the Falkland Islands. The Company was granted five productionlicences by the Governor of the Falkland Islands over this acreage with effectfrom 1 November 2004. This information is provided by RNS The company news service from the London Stock Exchange