Borders & Southern Petroleum plc
20 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 data
within its licensed acreage in the South Falkland Basin, it has received the
processed data from Geophysical Services Incorporated and commenced
interpretation.
A preliminary review of the high quality seismic lines has confirmed the
presence of a major fold and thrust belt with its associated foreland basin
within the Company's acreage. These seismic lines reveal considerably more
structures than originally anticipated and include numerous large anticlines,
tilted fault blocks and sub-thrust structures capable of trapping significant
volumes of hydrocarbons. The data also reveals seismic amplitude anomalies
associated with many of the structures.
The Company anticipates that the seismic interpretation will be completed before
the end of the year and will focus on the definition and mapping of prospects
and leads, with an assessment of their hydrocarbon potential. A full operational
update 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 means
conclusive, we are very encouraged about the prospectivity of the Company's
acreage. We look forward to the completion of the full evaluation of the seismic
data later this year.'
For further information please contact:
Howard Obee Richard Sunderland /
Chief Executive Clemmie Carr
Borders & Southern Petroleum plc Tavistock Communications
Tel: 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, the
Company submitted an application for its first project, offshore exploration
acreage (19,598 square kilometers) in the South Falkland Basin, southeast of the
Falkland Islands. The Company was subsequently granted five production licenses
by 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
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