Production Licences

RNS Number : 0335A

Borders & Southern Petroleum plc

28 January 2022

 

28 January 2022

Borders & Southern Petroleum plc

("Borders & Southern" or "the Company")

Production Licences

Borders & Southern Petroleum plc (AIM: BOR) provides an update on its Falkland Islands licences.

As previously communicated, the Company's Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, along with the Darwin Discovery Area Licence, are due to expire on 31 January this year. The Company confirms that it is in advanced discussions with the Falkland Islands Government about the extension of these licences.

The Company also confirms that it is working on funding options for the next period of the Licences.

A further announcement will be made shortly on both matters.

For further information, please visit  www.bordersandsouthern.com  or contact:

Borders & Southern Petroleum plc Howard Obee, Chief Executive Tel: [phone]

Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) James Spinney / Ritchie Balmer / Abigail Wennington Tel: [phone]

Auctus Advisors LLP (Joint Broker) Jonathan Wright Tel: [phone] Tavistock (Financial PR) Simon Hudson / Nick Elwes Tel: [phone]

Notes to Editors:

Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% interest in three Production Licences in the South Falkland Basin covering an area of nearly 10,000 square kilometres. The Company has acquired 2,517 square kilometres of 3D seismic and drilled two exploration wells, making a significant gas condensate discovery with its first well.

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