Borders & Southern Petroleum plc said its design had been independently validated for a phased development concept for the large gas condensate offshore discovery of Darwin, south of the Falkland Islands. DESIGN The company aims to generate a production profile requiring relatively low initial capital expenditure; deliver accelerated payback; and allow expansion of the production […]
Tag: Darwin gas condensate discovery
Borders’ Falkland licences extended two years
Borders & Southern Petroleum plc has been granted a two-year extension for its production licences, including the Darwin gas condensate discovery area, offshore the Falkland Islands. APPLICATION Licences PL018, PL019 and PL020, due to expire on the 31 December 2022, are now valid until 31 December 2024. The Falkland Islands Government approved the company’s application […]
Borders targets £2.5m in 44% discounted fundraise
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 […]