Borders & Southern Petroleum plc
08 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), the
international oil and gas exploration and production business, announces that it
has successfully completed its 2D seismic survey within its 19,598 sq km
offshore Falkland Islands acreage. The survey was carried out on the Company's
behalf by Geophysical Service Incorporated, which used its vessel, the GSI
Admiral, to acquire 2860km of 2D data. This comprised a regional grid over the
entire licensed area along with an infill grid over a high-graded area of
interest.
The processing and interpretation of the seismic data will take place over the
coming months. The results from the 2D interpretation will be used to decide
whether a 3D seismic survey will be acquired prior to drilling the first well.
Commenting on the seismic survey, Howard Obee, Borders & Southern's Chief
Executive Officer said: 'This is a significant milestone for the Company. We
have completed our first operated seismic survey on budget, without any HSE
incidents and within less than a year from the Company's incorporation. This is
an excellent result and reflects the fast-track exploration programme in the
Falklands that we outlined at the time of our IPO. We now look forward to
receiving the processed data so that we can fully evaluate these exciting
Falkland Islands licences'.
For further information please contact:
Howard Obee
Chief Executive
Borders & Southern Petroleum plc
Tel: 020 7661 9348
Simon Hudson / Richard Sunderland / Clemmie Carr
Tavistock Communications
Tel: 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, the
Company submitted an application for its first project, offshore exploration
acreage over 19,598 square kilometres of the Falkland Plateau sub-basin,
southeast of the Falkland Islands. The Company was granted five production
licences by the Governor of the Falkland Islands over this acreage with effect
from 1 November 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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