Stebbing Prospect - Well Spud (1911D)
11 May 2012 - 10:25PM
UK Regulatory
TIDMBOR
RNS Number : 1911D
Borders & Southern Petroleum plc
11 May 2012
11 May 2012
Borders & Southern Petroleum plc
("Borders & Southern" or "the Company")
Stebbing Prospect - 61/25-1 Well Spud
Borders & Southern (AIM: BOR) is pleased to announce that
exploration well 61/25-1 was spudded on 11 May 2012. The well is
located approximately 170 km south of the Falkland Islands. Borders
&Southern is the operator of the well, holding a 100% interest
in licence PL018. It is the second of a two well exploration
programme.
The well is designed to test the Stebbing prospect, a thrust
cored anticline structure with an area of closure of 85 square
kilometres. Objectives comprise Tertiary and Upper Cretaceous
sandstone reservoirs.
The well duration is estimated to be 49 days. However, this is a
wildcat exploration well and geological challenges might cause
variation from this initial estimate. A further announcement will
be made once the well has reached its total depth and the wireline
logs have been run and their interpretation completed.
With respect to the Darwin gas condensate discovery, fluid
samples are being shipped back to the UK for detailed analysis. The
results are anticipated in the third quarter of 2012 and will be
announced as soon as the work has been completed.
For further information please visit www.bordersandsouthern.com
or contact:
Howard Obee, Chief Executive
Borders & Southern Petroleum plc
Tel: 020 7661 9348
Katherine Roe / Brett Jacobs
Panmure Gordon (UK) Limited
Tel: 020 7459 3600
Simon Hudson / Paul Youens
Tavistock Communications
Tel: 020 7920 3150
Notes:
Borders & Southern Petroleum plc is an oil & gas
exploration company listed on the London Stock Exchange AIM (BOR).
The Company is focused on frontier or emerging basins where there
is potential to identify and commercialise high value prospects.
Its project in the Falkland Islands comprises five Production
Licences (100% interest) in the South Falkland Basin covering an
area of nearly 20,000 square kilometres. The Company has acquired
2,862 km of 2D seismic and 1,492 sqkm of 3D seismic and drilled one
exploration well.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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