Borders and Southern Petroleum PLC. Stock Analysis BOR.L

Borders & Southern Petroleum Plc operates as an independent oil and gas exploration company, which engages in the exploration of hydrocarbons in Falkland Islands. The firm operates and has a 100% interest in three production licenses in the South Falkland Basin, covering an area of nearly 10,000 square kilometers. The firm has acquired 2,517 square kilometers of three-dimensional (3D) seismic and drilled two exploration wells. The first well, drilled on the Darwin prospect, resulted in a significant, liquid-rich, gas condensate discovery. The second well, drilled on the Stebbing prospect, is a different play type to the first, which has hydrocarbon shows. The Darwin gas condensate discovery is located 150 km south of the Falkland Islands, in 2000m of water. The company comprises two adjacent tilted fault blocks (named Darwin East & Darwin West). The firm's subsidiary is Borders & Southern Falkland Islands Limited.