Seismic Contract with Petroleum Geo-Services

RNS Number : 6945N

Borders & Southern Petroleum plc

02 October 2012

 



2 October 2012

Borders & Southern Petroleum plc

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

Seismic Contract

Borders & Southern (AIM: BOR) is pleased to announce that it has signed a contract with Petroleum Geo-Services (PGS) for the acquisition and processing of a new 3D seismic survey. The survey, measuring approximately 1100 sq.km, will be located in Quad 61 adjacent to the northern margin of the Company's existing 3D area.

The aim of the survey is to provide more data on the proven Early Cretaceous play fairway, deliver greater definition to prospects that have been mapped on 2D data and potentially identify new leads.

PGS, who were responsible for the acquisition and processing of the Company's first 3D survey, will use their vessel the M/V Ramform Challenger. Acquisition is expected to commence around the middle of January 2013.

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

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

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

Simon Hudson / Kelsey Traynor Tavistock Communications Tel: [phone]

Notes:

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 five Production Licences in the South Falkland Basin covering an area of nearly 20,000 square kilometres. The Company has acquired 2,862 km of 2D seismic, 1,492 square kilometres of 3D seismic and drilled two exploration wells.

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