Borders & Southern Petroleum plc
14 February 2008
For release: 14th February 2008
Borders & Southern Petroleum plc
'Borders & Southern' or 'the Company'
Completion of 3D Seismic Acquisition
Borders & Southern Petroleum plc is pleased to announce the successful
completion of its 3D seismic acquisition programme within its Production
Licences south of the Falkland Islands.
Petroleum Geo Services (PGS), using their vessel Ocean Explorer, acquired a
total of 1492 square kilometres of full fold seismic data. This is the largest
3D survey to be acquired in the Falkland Islands to date and represents one of
the most southerly 3D surveys in the world. The data was acquired without HSE
incident, ahead of schedule and within budget.
In addition to acquiring the seismic data, the Company had an onboard marine
mammal observer to record wildlife activity. This data, together with the
oceanographic measurements undertaken, will be incorporated into the Company's
Environmental Impact Assessment.
The processing contract for the 3D seismic has been awarded to PGS and testing
of the data has already commenced. The full processing is anticipated to take
approximately 5 months, however a fast track product will be delivered earlier.
Commenting on the survey Howard Obee, CEO of Borders & Southern, said: 'We are
delighted to have finished the 3D acquisition ahead of schedule. Thanks are due
to PGS along with our onboard QCs. This is a large survey for a company of our
size, but it now gives us the best possible opportunity to fully assess the
commerciality of our acreage'.
He added: 'It's too early to comment on the analysis of the 3D, but the quality
of the raw data appears very good and we're excited about receiving the
processed data so that the detailed interpretation can get underway.'
For further information, please visit www.bordersandsouthern.com or contact:
Borders & Southern Petroleum plc 020 7661 9348
Howard Obee, Chief Executive
Panmure Gordon (UK) Limited 020 7459 3600
Katherine Roe
Ocean Equities Ltd 020 7786 4370
Guy Wilkes
Tavistock Communications 020 7920 3150
Clemmie Carr
Simon Hudson
This information is provided by RNS
The company news service from the London Stock Exchange