Falkland Islands oil exploring company, Borders & Southern Petroleum plc announced that Howard Obee has informed the Board that he intends to stand down as Chief Executive Officer.
Borders & Southern Petroleum PLC said it will join a Falkland Islands drilling consortium so it can participate in the 2015 drilling program on the Islands, as soon as partnering and funding has been secured for its licenses.
Oil explorer Borders & Southern boosted its available funds to help it analyse a gas discovery in the Falkland Islands, by raising £ 46 million through a share placing.
Borders & Southern Petroleum Plc energy explorer operating in the Falkland Islands announced on Monday the discovery of gas condensate in the first well drilled to a depth of 4.867 meters.