Independent oil and gas company, with assets offshore Falkland Islands, Borders & Southern Petroleum, (AIM: BOR) has announced it has raised £1.5 million, before expenses to advance the development of its 100% owned Darwin Gas Condensate discovery offshore the Islands. The Fundraising comprises a placing and a subscription by a majority of the Company's directors.
Falkland Islands Borders & Southern Petroleum has produced a phased development concept for its Darwin gas condensate discovery south of the Falkland Islands, which has been supported by an independent study by an international engineering consultancy.
Oil and gas company Borders & Southern Petroleum with interests in the Falkland Islands announced this week it had secured the extension of its Production Licenses PL018, PL019, PL020, including the Darwin Discovery Area, according to reports in London's financial media.
Borders & Southern Petroleum, a company with oil and gas exploration assets offshore the Falkland Islands, announced at the end of the year board changes. The London based independent oil & gas exploration company announced the retirement of Nigel Hurst-Brown from the Board of Directors. His departure will take effect on January 1, 2021.
Oil company Borders & Southern Petroleum said it has been granted an extension to its Falkland Islands licenses.
Offshore oil & gas exploration company Borders & Southern Petroleum PLC on Tuesday said its loss widened in the first half of the year on finance expense and announced that a farm-out process was active and ongoing.
The Falkland Islands government would claim 9% royalty on one barrel of oil, plus 26% corporation tax on profit, confirmed Member of Legislative Assembly Roger Edwards this week.
Borders & Southern has issued a technical update on its Darwin gas/condensate discovery south of the Falkland Islands and near-field prospectivity. The goal was to improve understanding of the Darwin reservoir interval, both within and surrounding the discovery and also its projected facies trend along the Aptian shelf
Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.
Borders & Southern Petroleum PLC said on Tuesday that new data on the Darwin gas condensate discovery in the Falkland Islands show the potential for wider hydrocarbon distribution.