Borders & Sth. Regulatory News (BOR)

20 Sep 2005 07:00

Borders & Southern Petroleum plc20 September 2005 Strictly embargoed until: 0700, 20 September 2005 Borders & Southern Petroleum plc Seismic Survey Update Borders & Southern Petroleum plc ("Borders & Southern" or "the Company") (AIM:BOR), the international oil and gas exploration and production business,announces that, having completed the acquisition of 2862 km of 2D seismic datawithin its licensed acreage in the South Falkland Basin, it has received theprocessed data from Geophysical Services Incorporated and commencedinterpretation. A preliminary review of the high quality seismic lines has confirmed thepresence of a major fold and thrust belt with its associated foreland basinwithin the Company's acreage. These seismic lines reveal considerably morestructures than originally anticipated and include numerous large anticlines,tilted fault blocks and sub-thrust structures capable of trapping significantvolumes of hydrocarbons. The data also reveals seismic amplitude anomaliesassociated with many of the structures. The Company anticipates that the seismic interpretation will be completed beforethe end of the year and will focus on the definition and mapping of prospectsand leads, with an assessment of their hydrocarbon potential. A full operationalupdate will be given when this interpretation is completed. Commenting on the announcement, Howard Obee, Chief Executive of Borders &Southern, remarked: "Although these early indications are by no meansconclusive, we are very encouraged about the prospectivity of the Company'sacreage. We look forward to the completion of the full evaluation of the seismicdata later this year." For further information please contact: Howard Obee Richard Sunderland /Chief Executive Clemmie CarrBorders & Southern Petroleum plc Tavistock CommunicationsTel: 020 7661 9348 Tel: 020 7920 3150 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 (19,598 square kilometers) in the South Falkland Basin, southeast of theFalkland Islands. The Company was subsequently granted five production licensesby the Governor of the Falkland Islands with effect from 1 November 2004. This information is provided by RNS The company news service from the London Stock Exchange