Key Developments: Borders and Southern Petroleum PLC (BDRSF.PK)
0.25USD
9 May 2013
$-0.05 (-16.67%)
$0.30
$0.25
$0.25
$0.25
5,000
3,924
$1.34
$0.24
Latest Key Developments (Source: Significant Developments)
Borders and Southern Petroleum Plc Announces Completion Of 3D Seismic Acquisition
Borders and Southern Petroleum Plc announced that PGS vessel Ramform Challenger has completed the Company's 3D seismic programme in the South Falkland Basin offshore the Falkland Islands. It acquired 1,025 square kilometres of full fold seismic data. The data will now be processed by PGS and a fast track product will be available for interpretation in about three months. The final, depth processed data will take approximately nine months to be delivered but work will commence on well planning using the fast track data, with ultimate well locations to be selected using the final product. Full Article
Borders and Southern Petroleum Plc Signs Contract With Petroleum Geo-Services (PGS) For Acquisition of 3D Seismic Survey
Borders and Southern Petroleum Plc announced that it has signed a contract with Petroleum Geo-Services (PGS) for the acquisition and processing of a new 3D seismic survey. The survey, measuring approximately 1100 sq.km, will be located in Quad 61 adjacent to the northern margin of the Company's existing 3D area. Full Article
Borders and Southern Petroleum Plc Announces Placing Of New Ordinary Shares At GBP0.84 To Raise GBP46.5 Million
Borders and Southern Petroleum Plc announced that is has successfully placed 55,320,000 million new ordinary shares (the Placing Shares) at GBP0.84 per share with institutional shareholders to raise GBP46,468,800 million before expenses (the Placing). These funds will be used to acquire additional 3D seismic within the Company's existing acreage, to enable further analysis of the results of the Darwin East well and for general working capital purposes, including further contingency funds for the upcoming exploration well. The Placing is conditional, inter alia, upon admission of the Placing Shares to trading on the AIM Market of the London Stock Exchange. Application has been made for 21,428,000 shares (the First Placing Shares) to be admitted to AIM (First Admission). It is expected that First Admission will become effective and dealings in the First Placing Shares will commence on AIM on May 1, 2012. Full Article
Borders and Southern Petroleum Plc Announces Darwin Prospect 61/17-1 Well Spud
Borders and Southern Petroleum Plc (B&S) announced that its exploration well 61/17-1 was spudded on January 31, 2012. The well is located approximately 140 km south of the Falkland Islands. B&S is the operator of the well, holding a 100% interest in licence PL018. It is the first of a two well exploration programme. The well is designed to test the Darwin East prospect, a fault / dip closed structure with a Lower Cretaceous sandstone reservoir target. The well will investigate geophysical attributes that include a flat spot, amplitude conformance to structure and an AVO anomaly. It is anticipated that operations will take about 45 days. A further announcement will be made once the well has reached total depth and the wireline logs have been run and their interpretation completed. Full Article
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