Borders & Southern Petroleum plc provided an update on its Falkland Islands licenses. As previously communicated, the Company's Production licenses, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, along with the Darwin Discovery Area licenses, are due to expire on 31 January this year. The Company confirms that it is in advanced discussions with the Falkland Islands Government about the extension of these licenses.

The Company also confirms that it is working on funding options for the next period of the Licences.