Rig Mobilisation

RNS Number : 2761T

Borders & Southern Petroleum plc

02 December 2011

 



2 December 2011

Borders & Southern Petroleum plc

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

Rig Mobilisation

Borders & Southern is pleased to announce that it has received notification from Ocean Rig UDW Inc. that the Leiv Eiriksson has commenced mobilisation from Greenland for its two well drilling programme in the Falkland Islands.  It is anticipated that the rig will begin operations in late January 2012.  A further update will be made nearer the time regarding the start of drilling.

Following the completion of the Company's two wells the rig will be assigned to Falkland Oil and Gas.  The fixed mobilisation fee will be shared between the two companies.

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

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

Katherine Roe / Brett Jacobs Panmure Gordon (UK) Limited Tel: [phone]

Simon Hudson Tavistock Communications Tel: [phone]

Notes:

Borders & Southern is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR).  The Company is focused on frontier or emerging basins where there is potential to identify and commercialise high value prospects.  Its project in the Falkland Islands comprises five Production Licences (100% interest) in the South Falkland Basin covering an area of nearly 20,000 square kilometres.  The Company has acquired 2,862 km of 2D seismic and 1,492 sqkm of 3D seismic.  It is about to commence its first drilling campaign.

 

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