MercoPress. South Atlantic News Agency

Oil Co. completes benthic sampling in South Falkland basin

Borders & Southern has completed its benthic sampling program within its South Falkland Basin licenses offshore the Falkland Islands, according to a report from the London based company released Wednesday.

The survey, carried out by Benthic Solutions Ltd., involved collecting samples of the seabed and water quality profiles. The data gathered will be used to compile an environmental baseline report that forms part of the environmental impact assessment (EIA) currently being compiled by RPS Energy. Additionally, seabed gravity cores were taken to provide a geotechnical assessment of the seabed strata. The completion of the survey now concludes the pre-drill surveying on the company's acreage. Portions of the 3-D seismic data acquired earlier in the year will be reprocessed to provide detailed drilling hazard analysis, so that there will be no need for additional site specific high resolution 2-D seismic data. Borders & Southern said the interpretation of the 3-D data is progressing very well and will be reported on in due course. The company holds a 100% equity interest and operator-ship in five Production Licences covering an area of nearly 20,000 sq km in the South Falkland Basin. The acreage is located approximately 150 km south-east of the Islands. The Production Licences, with an effective date of 1st November 2004, provide exclusive rights for surveying, drilling and production within the specified area. According to the company's site the stratigraphy in Borders & Southern's acreage is expected to be similar to the adjacent Magallanes and Malvinas sub-basins located to the west of the Falkland Islands, where working petroleum systems are proven. It is also anticipated to be similar to geology recorded in DSDP wells 511 and 330 drilled to the east of the Falkland Islands in the Falklands Plateau sub-basin. Borders & Southern Petroleum is a UK based company engaged in the exploration of hydrocarbons. The Company was incorporated in England and Wales in June 2004 and has offices at 33 St James's Square, London. Its current area of activity is in the Falkland Islands, located in the South Atlantic. The Company was awarded its first exploration licences in the Falkland Islands on 1st November 2004. In May 2005 the Company listed on the Alternative Investment Market (AIM) of the London Stock Exchange raising £10 million (gross). In October 2005 Borders & Southern Petroleum plc incorporated its sole subsidiary, Borders & Southern Falkland Islands Limited for the purpose of conducting its Falklands activities.