MercoPress. South Atlantic News Agency

Falklands’ oil company convenes shareholders for fundraising initiative

The company, which holds a 100% interest in three Production Licenses in the South Falkland Basin, has made significant progress in its exploration efforts

Borders & Southern Petroleum plc (AIM: BOR), the oil and gas company focused on the Falkland Islands, announced the upcoming General Meeting to seek shareholder approval for its fundraising initiative. The meeting is scheduled for March 21, 2025, at the offices of Wedlake Bell LLP in London.

The company, which holds a 100% interest in three Production Licenses in the South Falkland Basin, has made significant progress in its exploration efforts, including a significant gas condensate discovery. As part of its ongoing development strategy, Borders & Southern has convened this meeting to discuss the fundraising details outlined in the Circular, now available on the company’s website.

The fundraising is part of Borders & Southern’s efforts to further appraise and explore its assets offshore the Falkland Islands. The region covered by the company spans nearly 10,000 square kilometers, where it has already acquired 2,517 square kilometers of 3D seismic data and drilled two exploration wells.

The independent exploration company has been active in the South Falkland Basin, an area with significant potential for oil and gas development. The forthcoming General Meeting will be a pivotal moment for the company as it seeks the necessary shareholder endorsement to proceed with its fundraising plans.

Shareholders are expected to receive the Circular containing the Notice of Meeting, which will provide further details on the fundraising and the resolutions to be proposed at the General Meeting.

This announcement is based on a press release statement and is intended to inform shareholders and the market about the upcoming General Meeting related to the company’s fundraising activities. The information provided herein is factual and does not speculate on the potential outcomes or broader industry impacts.