Business
Drilling Rig Letter Of Intent
Drilling Rig Letter Of Intent.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n RNS Number : 9756V Borders & Southern Petroleum plc 11 November 2010 \n \n\n \n \n \n11 November 2010\n \nBorders & Southern Petroleum plc\n(or \"the Company\")\n \nLetter of Intent\n \nBorders & Southern Petroleum plc is pleased to announce that the Company has signed a Letter of Intent with Ocean Rig UDW Inc. for the provision of mobile drilling rig services using the Eirik Raude drilling unit. The contract is subject to final documentation. Under the terms of the contract the Company is committed to drill two firm wells (to be used for testing the Darwin and Stebbing prospects) and has up to three option wells. \n \nThe rig, currently active in West Africa, is a dynamically positioned, harsh environment semi-submersible. On completion of its drilling programme the rig will be mobilised to the Falkland Islands in the fourth quarter 2011.\n \nMore details will be provided on signature of the contract. \n \nContacts:\n \nBorders & Southern Petroleum plc 020 7661 9348 \nHoward Obee, Chief Executive \nwww.bordersandsouthern.com \n \nTavistock Communications 020 7920 3150 \nSimon Hudson \n \n\n \nNotes:\n \nBorders & Southern Petroleum plc, a London Stock Exchange AIM listed (BOR) company, is engaged in the exploration for oil and gas. The Company is focused on frontier or emerging basins where there is potential to identify and commercialise high value prospects. Its project in the Falkland Islands comprises five Production Licences (100% interest) in the South Falkland Basin covering an area of nearly 20,000 square kilometres. The Company has acquired 2,862 km of 2D seismic and 1,492 sqkm of 3D seismic. It is currently planning its first drilling campaign.\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCDMMMMKGDGGZM \n ","length":3621,"tagName":"div"}]