Borders & Southern Petroleum plc has raised £2.5 million before expenses through a firm placing and a conditional placing and conditional subscription. ISSUE PRICE Subject to the shareholder approval, the company will issue 142,857,138 new ordinary shares each at 1.75 pence, an approximate 44% discount to its closing price of 3.15 pence on 30 November […]
Tag: Borders & Southern Petroleum plc
Borders mulls further fundraise
Borders & Southern Petroleum plc said it might need to raise additional funds before mid-2023 if it fails to find a farm-out partner for its oil and gas licences offshore Falkland Islands. FINANCES The company’s decision was included in its audited results for 12 months ended 31 December 2021, which showed its cash balance fell […]
Borders to raise $1.8m for Falkland licences
Borders & Southern plc said it planned to raise US$1.8 million (£1.35m) to appraise and develop its Darwin gas-condensate discovery off the Falkland Islands. FUNDRAISING The money will also be used for general working capital. The company added it intended to raise $600,000 (£450,000) in a subscription solely involving chairman Harry Dobson for 34,702,000 new […]
Borders in advanced talks to extend Falkland licences
Borders & Southern Petroleum plc said it was in advanced discussions over the extension of its hydrocarbon production licences (100%) in the Falkland Islands. FUNDING PL018, PL019 and PL020 are due to expire on 31 January 2022. The company added it was also working on funding options for the next period of the licences. LICENCES Borders […]
Borders seeks further funds for Falklands licences
Borders & Southern Petroleum plc said it would likely seek additional funds by the end of January 2022 for its hydrocarbon project in the Falkland Islands. FINANCES In its unaudited half year financial statements to 30 June 2021, the company’s cash balance decreased to $1.35 million (30 June 2020: $2.56m). Operating loss for the period was […]