Business
3D Seismic Acquisition Begins
3D Seismic Acquisition Begins.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n Borders & Southern Petroleum plc\n31 October 2007\n\n\nFor release 31 October 2007\n\n\n Borders & Southern Petroleum PLC\n ('Borders & Southern' or the 'Company')\n\n ACQUISITION OF 3D SEISMIC COMMENCES\n AND\n EXTENSION OF LICENCES\n\nBorders & Southern is pleased to announce that it has commenced the acquisition\nof 3D seismic data across its South Falkland Basin acreage. Petroleum\nGeo-Services (PGS), a worldwide geophysical services specialist, is carrying out\nthe survey using their vessel Ocean Explorer. PGS will be acquiring 1,500 sq km\nof 3D seismic data. The survey is anticipated to take approximately four months\nto complete depending on weather conditions.\n\nThe Company is also pleased to announce that the Falkland Islands Government has\ngranted a two-year extension to its licences in the South Falkland Basin, \nsoutheast of the Falkland Islands. The extension applies to the Initial Term of \nlicences PL018 to PL022 with the provision that Borders & Southern acquires in \nexcess of 750 sq km of 3D seismic data. This will mean the first exploration \nperiod will now be five years and will end on 1 November 2009. There will be no \nrelinquishment of acreage before that date.\n\nCommenting on the announcement Howard Obee, CEO of Borders & Southern said: \n'We are delighted to see our programme to acquire 3D seismic off and running. In\nrecent weeks we have announced a successful fundraising to finance the 3D survey \nas well as our new partnership with PGS. Now that 3D data acquisition has \nstarted, we are a step closer to identifying the optimum sites for drilling on \nthe key prospects in our acreage.'\n\nHe added: 'I look forward to updating shareholders with further developments \nonce the process of 3D data collection is completed in the first quarter of \n2008.'\n\n -ends-\n\nFor further information, please visit www.bordersandsouthern.com or contact:\n\nHoward Obee, Chief Executive Clemmie Carr / Simon Hudson Christopher Caldwell\nBorders & Southern Petroleum Tavistock Communications Insinger de Beaufort\nplc\nTel: 020 7661 9348 Tel: 020 7920 3150 Tel: 020 7190 7022\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2596,"tagName":"div"}]