Border Announces Filing of Financials

CALGARY, ALBERTA--(Marketwired - Aug. 27, 2015) - Border Petroleum Limited ("Border" or the "Corporation") (TSX VENTURE:BOR) announces financial results for its first quarter ended June 30, 2015. The unaudited condensed consolidated interim financial statements and management's discussion & analysis ("MD&A") have been filed on SEDAR. www.sedar.com.

OUTLOOK

The Corporation continues to focus on production optimization and cost cutting. Effective January 1, 2015, office rent costs and certain staffing costs have been reduced by 40%. Additional general and administrative cost reductions are on-going. Operating costs for properties that are not operated by Border are under constant review to maximize field cash flows. We continue to review assorted alternatives to enhance shareholder value.

FINANCIAL OVERVIEW

Certain selected financial and operational information for the quarter ended June 30, 2015 is set out below and should be read in conjunction with the Corporation's audited financial statements and related MD&A for the financial year ended March 31, 2015. The following table provides a summary of key financial results for the quarter ended June 30, 2015 and 2014:

		June 30,
			2015				2014			% Change
Financial
Petroleum and natural gas revenues		$	354,268			$	436,463			(19	)
Funds flow from operations		$	55,354			$	(428,187	)		113
	per share - basic and diluted	$	0.00			$	(0.01	)		107
Net loss		$	(59,344	)		$	(468,018	)		87
	per share - basic and diluted	$	(0.00	)		$	(0.01	)		93
Capital expenditures, including decommissioning liabilities		$	(196,830	)		$	5,775			3,508
Weighted average shares outstanding			63,691,664				33,691,664			89
Production
	Oil and liquids (bbls/d)		54				45			20
	Natural gas (mcf/d)		391				205			91
	Oil equivalent (boe/d)		119				79			51
Sales price per unit
	Oil and liquids ($/bbl)		55.50				83.35			(33	)
	Natural gas ($/mcf)		2.27				5.09			(55	)
	Oil equivalent ($/boe)		32.55				60.52			(46	)

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.