Borders & Sth. Regulatory News (BOR)

14 Feb 2008 08:37

Borders & Southern Petroleum plc14 February 2008 For release: 14th February 2008 Borders & Southern Petroleum plc "Borders & Southern" or "the Company" Completion of 3D Seismic Acquisition Borders & Southern Petroleum plc is pleased to announce the successfulcompletion of its 3D seismic acquisition programme within its ProductionLicences south of the Falkland Islands. Petroleum Geo Services (PGS), using their vessel Ocean Explorer, acquired atotal of 1492 square kilometres of full fold seismic data. This is the largest3D survey to be acquired in the Falkland Islands to date and represents one ofthe most southerly 3D surveys in the world. The data was acquired without HSEincident, ahead of schedule and within budget. In addition to acquiring the seismic data, the Company had an onboard marinemammal observer to record wildlife activity. This data, together with theoceanographic measurements undertaken, will be incorporated into the Company'sEnvironmental Impact Assessment. The processing contract for the 3D seismic has been awarded to PGS and testingof the data has already commenced. The full processing is anticipated to takeapproximately 5 months, however a fast track product will be delivered earlier. Commenting on the survey Howard Obee, CEO of Borders & Southern, said: "We aredelighted to have finished the 3D acquisition ahead of schedule. Thanks are dueto PGS along with our onboard QCs. This is a large survey for a company of oursize, but it now gives us the best possible opportunity to fully assess thecommerciality of our acreage". He added: "It's too early to comment on the analysis of the 3D, but the qualityof the raw data appears very good and we're excited about receiving theprocessed data so that the detailed interpretation can get underway." For further information, please visit www.bordersandsouthern.com or contact: Borders & Southern Petroleum plc 020 7661 9348Howard Obee, Chief Executive Panmure Gordon (UK) Limited 020 7459 3600Katherine Roe Ocean Equities Ltd 020 7786 4370Guy Wilkes Tavistock Communications 020 7920 3150Clemmie CarrSimon Hudson This information is provided by RNS The company news service from the London Stock Exchange