Borders & Southern Petroleum plc Announces the Extension of its Production Licences PL018, PL019, PL020, Including the Darwin Discovery Area

Borders & Southern Petroleum Plc is a United Kingdom-based independent oil and gas exploration company. The Company 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 Company 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 150km south of the Falkland Islands, in 2000m of water. It comprises two adjacent tilted fault blocks (named Darwin East & Darwin West). The Company's subsidiary is Borders & Southern Falkland Islands Limited.