Borders & Southern Petroleum Plc · LSE:BOR
Borders & Southern Petroleum — Investor Presentation (February 2025)
21 slides from Borders & Southern Petroleum's investor presentation, February 2025
Slide 1: Corporate Presentation Q1 2025
Corporate Presentation Q1 2025 “World-Class Resource Volume with Significant Upside Potential”
Slide 2: Important Notice
Important Notice The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Borders & Southern Petroleum PLC (the “Company”). This presentation and the infor
Slide 3: Location and Acreage Position Represents a World Class Opportunity
Location and Acreage Position Represents a World Class Opportunity PL 018, 019, 020: 40 Blocks (c.10,000 sq. km) Darwin discovery and near-field prospects 2,517 sq.km. 3D seismic Sea Lion Darwin Scotia Stanley Loligo • 100% equity of the PL018, PL019 and PL020 production licenses in the South Falkla
Slide 4: Corporate Overview
Corporate Overview Financial Summary Directors Board of Directors 30 June 2024 31 Dec. 2023 Harry Dobson Non-Executive Chairman Cash Balance $0.756 million $1.9 million Top 10 Operating Loss $0.578 million $1.06 million Shareholders Harry Baker Chief Executive Admin. Expense $0.58 million $1.14 mill
Slide 5: Darwin Field: Exceptionally Imaged on 3D Seismic
Darwin Field: Exceptionally Imaged on 3D Seismic The seismic images of Darwin are exceptionally clear and illustrate the quality of the reservoir. Physical data recorded at the Darwin East well indicates that high production rates should be achieved. Darwin East Well Data Darwin East-1 Depth • 84.5
Slide 6: Darwin Field: A Large Liquids Rich, Gas Condensate Discovery
Darwin Field: A Large Liquids Rich, Gas Condensate Discovery Darwin is a rich gas condensate field which is a very marketable product sold into refineries around the world at close to Brent prices. This is a large resource, the size of which has been verified by an independent third party. Estimated
Slide 7: Darwin Field: Initial Phase Costs & Payback
Darwin Field: Initial Phase Costs & Payback The phased development provides a very quick payback (1-2 years). The capital and operating costs would largely be fixed pre-production but the reservoir (production rate) risk would be eliminated after testing the first appraisal well so there will be hig
Slide 8: Organic Upside: Shelf and Near Field
Organic Upside: Shelf and Near Field In addition to the Darwin Field there are many other near field prospects that could potentially be brought into production using the Darwin cash flows. This optionality is a key feature of Borders & Southern Petroleum. The Aptian aged shelf prospects target the
Slide 9: Other Organic Growth: Slope and Fold Belt
Other Organic Growth: Slope and Fold Belt Beyond the immediate near field targets there are numerous low and high-risk targets within the prospect portfolio. West East North South Multiple well defined slope fans at a similar • Structural plays: > 4.6 billion barrels * Martin age to the main Darwin
Slide 10: Full Prospect Portfolio (100% equity)
Full Prospect Portfolio (100% equity) The story is much bigger than Darwin. Lower Cretaceous Shelf Targets Lower Cretaceous Slope Fan Targets Upper Cretaceous/Lower Tertiary Fold and Thrust Belt Targets (1) Unrisked P50 recoverable resources (management assessment) (2) Unrisked P50 recoverable resou
Slide 11: Investment Case: World Class Opportunity
Investment Case: World Class Opportunity Farm-out process underway World-class resource volume for Darwin field Ongoing farm out process to fund Darwin appraisal for well flow An independent un-risked best estimate 462 million barrels of testing and portfolio expansion recoverable liquids (condensat
Slide 12: Use of Proceeds
Use of Proceeds Capital Raise - $2.5 million + up to $250,000 for existing shareholders via a retail platform Shoring up the balance sheet to ensure we are fully funded to end of 2026. This puts the company in position to do the right deal, not the first deal. • 2025 overheads covered by existing ca
Slide 13: Appendices
borders&southern Appendices 13 Q1 2025
Slide 14: Industry Activity Along the Atlantic Margin
Industry Activity Along the Atlantic Margin NOAA ETOPO1 Global Relief Model Guyana Orange Basin Uruguay South Atlantic Ocean Outeniqua Basin Sea Lion Development Malvinas Basin Pacific Scotia Sea Ocean AP Weddell South Falkland Sea Basin Q1 2025 14
Slide 15: South Falkland Basin Met Ocean Conditions
South Falkland Basin Met Ocean Conditions World map of average wave heights (Blackledge et al 2012) 0° South American ‘Breakwater’ 30° Westerlies “Roaring Forties” 60° PD Glorioso (2005) South North Temp Burdwood Bank https://earth.nullschool.net/ RP Matano (2019) Q1 2025 15
Slide 16: Water Depth at Darwin is 2000m
Water Depth at Darwin is 2000m Liza Unity Thunder Horse Cidade de Paraty Cidade de Ilhabela Turritella Venus-1 Raja-1 Ondjaba-1 Komodo-1 Guyana GOA Brazil (Lula) Brazil (Sapinhoa) GOA (Stones) Namibia Uruguay Angola Colombia (Exxon 2022) (BP 2008) (Petrobras 2009) (Petrobras 2014) (Shell 2016) (Tota
Slide 17: Current Industry Trends
Current Industry Trends • Investors don’t seem to believe market conditions will continue - Little share price appreciation despite high dividends and buy backs • Capital had been diverted from upstream to ESG projects -Many companies are rebalancing back to upstream • Due to depleted growth portfol
Slide 18: Global Exploration Spend
Global Exploration Spend Exploration spend has also reduced with lower oil prices and the transition so if the industry wants to increase production it cannot rely on exploration projects as the lead time is too long. U.S. shale boom, 2010-2014 Financial crisis, 2008 $140 Exploration spend(US$ billi
Slide 19: Next Phase Drilling Options
Next Phase Drilling Options Single Well Option • Drill and perform well test at Darwin East $150 million* (+P50 170mmbbls) + Deepen well to test the Stokes prospect +$25 million* (+P50 134mmbbls)** Two Well Option • Drill and perform well test at Darwin East $150 million* (+P50 170mmbbls) + Deepen w
Slide 20: Darwin Field: Exceptionally Imaged on 3D Seismic
Darwin Field: Exceptionally Imaged on 3D Seismic The seismic images of Darwin are exceptionally clear and illustrate very clearly the quality of the reservoir. Physical data recorded at the Darwin East well indicates that high production rates should be achieved. Darwin East Well Data Darwin East-1
Slide 21: Borders & Southern Petroleum plc contact details
Borders & Southern Petroleum plc 70 Pall Mall London SW1Y 5ES Telephone: 0207 071 6984 www.bordersandsouthern.com info@bordersandsouthern.com SP Angel Corporate Finance LLP Telephone 0203 470 0470 Tavistock (Financial PR) Telephone 0207 920 3150 Q1 2025 21
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