Borders & Southern Petroleum first drilling campaign in the South Falkland Basin

[Andrija]

14 February 2024
Borders & Southern Petroleum plc

Management and Board Changes

Borders & Southern Petroleum plc (AIM: BOR), the London based independent oil and gas exploration company with assets offshore the Falkland Islands, provides notification of changes to the Board of Directors and management team.

Howard Obee has informed the Board that he intends to stand down as Chief Executive Officer. As one of the co-founders, he has led the Company for nearly 20 years, delivering exploration success, including the Company's Darwin gas condensate discovery.

The Board is pleased to announce that Harry Baker will assume the role of Chief Executive Officer from 1 March 2024. Harry has nearly 24 years of capital markets experience from previous roles with Auctus Advisors, GMP First Energy, Mirabaud Securities and Canaccord Capital. Harry brings a wealth of experience in the Natural Resources sector.

Howard has agreed to stay on until 29 February 2024 to support the transition to the new leadership.

Harry Dobson, Non-Executive Chairman, said:

"I'd like to thank Howard for his role in leading the Company since its inception and wish him all the best in his future endeavours. The technical work undertaken by Howard and his team in opening up a new basin is second to none, and both I and the Board are grateful for all he has done to progress the Darwin discovery to this point. I sincerely believe that the South Falklands Basin will achieve recognition as a world class hydrocarbon system and he can be proud of what he has achieved in his time with the Company.

"I am delighted to welcome Harry Baker to the Board and look forward to working with him in this next phase of the Company's development."

AIM Rules Disclosures

Mr Henry ("Harry") Charles Baker, aged 48, currently holds or has held the following directorships and partnerships in the last five years:

[Andrija]

RNS Number : 2571B 1 June 2023

Audited Results for the 12 month period ended 31 December 2022

Borders & Southern (AIM: BOR), the London based independent oil and gas exploration company with assets offshore the Falkland Islands, announces its audited results for the year ended 31 December 2022. Full copies of the Company's Annual Report and Accounts, including the Company Overview, Chairman's Statement, Remuneration Committee Report, Directors' Report, Auditor's Report and full Financial Statements, will be available on the Company's website and posted to Shareholders along with the notice of the AGM shortly.

· Raised a total of $4 million (£3.2 million) before expenses through two capital raises

· Cash balance on 31 December 2022: $2.7 million (2021: $0.71 million)

· Administrative expense for the year: $1.2 million (2021: $1.1 million)

· Operating loss of $1.3 million (2021: $1.0 million)

· Extended Production Licences and Discovery Area through to 31 December 2024

· Independent study confirms lower cost Darwin development is economically and technically robust

· Post year-end events:

- raised further $0.78 million (£0.65 million) (before expenses) through the issue of 37,142,857 new Ordinary shares

- the total number of Ordinary shares in issue is now 730,814,456

Kommt kurstechnisch gut an. Warum auch immer.

[honigbaer]

Antwort auf Beitrag Nr.: 72.835.973 von Andrija am 30.11.22 11:18:43

Auf der Homepage ist seit Januar eine neue Präsentation zu finden 440 Mio CAPEX + 200 DRILLEX (für 3 Quellen).
https://www.bordersandsouthern.com/
https://ir.design-portfolio.co.uk/viewer/65/55562

[Andrija]

Wie gewonnen so zerronnen, hätte alle verkaufen sollen:

30 November 2022

Borders & Southern Petroleum plc

£2.5 million Fundraising

Borders & Southern (AIM: BOR), the London based independent oil and gas exploration company with assets offshore the Falkland Islands, is pleased to announce that it has raised £2.5 million, before expenses to advance studies in its 100% Darwin Gas Condensate discovery. The fundraising comprises a Firm Placing, using existing pre-emptive allotment authorities and a Conditional Placing and a Conditional Subscription, both conditional on shareholder approval to disapply pre-emption rights.

The fundraising will comprise, subject to the necessary shareholder approval being granted, the issue, in aggregate of 142,857,138 is new ordinary shares in the Company ("Ordinary Shares") at a price of 1.75 pence (the "Issue Price") per new Ordinary Share (the "Fundraising"). The Issue Price is an approximate 44 per cent. discount to the Company's closing price of 3.15 pence on 30 November 2022.

Highlights of the Fundraising:

· The Company is committed to advancing its 100% interest in its large Gas Condensate discovery at its Darwin asset, which contains over 3.2 TCF GIP (unrisked, Best Estimate) and 462 MMbbl of Liquids designated Contingent & Prospective Resources (unrisked, Best Estimate), split across Darwin East & West, and as independently assessed under the SPE PRMS Standard

· Scoping project economics by Management suggest that a phased development project with initial production of 26,000 bbl/d from Darwin East could deliver NPV10 of $4/bbl to $10/bbl dependent on oil price (range $60 to $90 per barrel).

· £1.85 million raised through a firm placing of 105,714,281 Ordinary Shares (the "Firm Placing Shares") at the Issue Price (the "Firm Placing")

· £0.3 million raised through the conditional placing of 17,142,857 Ordinary Shares (the "Conditional Placing Shares") at the Issue Price (the "Conditional Placing")

· £0.35 million raised through the conditional subscription direct with the Company by Harry Dobson, the Company's Non-Executive Chairman of 20,000,000 Ordinary Shares (the "Conditional Subscription Shares") at the Issue Price (the "Conditional Subscription")

[Andrija]

Heute wieder um die 50%+. Nachrichtenlos. Ich war Ende letzter Woche auf Nummer sicher gegangen und habe die Hälfte meiner Position mit über 200% Gewinn (zu früh) geräumt. Der Rest läuft nun risikofrei weiter.

Kommt jetzt ein Farm-in oder gar ein Übernahmeangebot? Der Kurs legt es ja nahe. Meine Hauptpositio bleiben ja die Falklands (FIH Group). Sollte ein Investor Darwin erschließen, gehen hoffentlich auch bald meine FIHs durch die Decke.

[honigbaer]

Eine Kapitalerhöhung 7:1 zu 1,3 Pence soll der HV vorgeschlagen werden.
Gesamtvolumen etwa 1,2 Mio.
https://www.londonstockexchange.com/news-article/BOR/propose…

Außerdem will Harry Dobson für 600.000 GBP Aktien direkt zeichnen.

[Andrija]

Kurz vor Börsenschluss. War auf dem Handy in der Sonne nicht zu sehen.
Bin gespannt auf morgen.

[Andrija]

Sehr schön!
Dem Kursverlauf nach kam die Nachricht nach Börsenschluss in London? Allerdings ungewöhnlich.

[honigbaer]

Antwort auf Beitrag Nr.: 70.583.114 von Andrija am 20.01.22 21:19:12

Lizenzverlängerung und zur Finanzierung soll noch eine mitteilung kommen.
https://www.londonstockexchange.com/news-article/BOR/product…
https://www.londonstockexchange.com/news-article/BOR/product…

[Andrija]

Antwort auf Beitrag Nr.: 70.580.633 von honigbaer am 20.01.22 18:17:12

Saudumm, ja. Aber jetzt noch rein? Allerdings stehen die ganzen Falklands vor einem Neianfang. Borders ist ja eigentlich nicht mal der interessante Wert. Das ist eher Argos mit den Lizenzen direkt neben Sea Lion.Nur hier muss eben jetzt sicher was passieren.