Company Information for Borders & Southern Petroleum Plc

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Company Statement

Borders & Southern Petroleum is a UK based company engaged in the exploration of hydrocarbons.

The Company was incorporated in England and Wales in June 2004 and has offices at 33 St James’s Square, London. Its current area of activity is in the Falkland Islands, located in the South Atlantic.

The Company was awarded its first exploration licences in the Falkland Islands on 1st November 2004. In May 2005 the Company listed on the Alternative Investment Market (AIM) of the London Stock Exchange raising £10 million (gross).

In October 2005 Borders & Southern Petroleum plc incorporated its sole subsidiary, Borders & Southern Falkland Islands Limited for the purpose of conducting its Falklands activities.

Operations and Technology

The Falkland Islands are located in the South Atlantic, approximately 500 km from the mainland of South America. The Islands have a population of about 2,400 with an economy based on sheep ranching and fishing industries.

Borders & Southern holds a 100% equity interest and operatorship in five Production Licences covering an area of nearly 20,000 sq km in the South Falkland Basin. The acreage is located approximately 150 km south-east of the Islands. The Production Licences, with an effective date of 1st November 2004, provide exclusive rights for surveying, drilling and production within the specified area.

The fiscal regime operating in the Falkland Islands is a Tax and Royalty system. There is a variable acreage rental, a 9% royalty on production and 25% corporation tax on profits.

The South Falkland Basin is unexplored. However, the stratigraphy in Borders & Southern’s acreage is expected to be similar to the adjacent Magallanes and Malvinas sub-basins located to the west of the Falkland Islands, where working petroleum systems are proven. It is also anticipated to be similar to geology recorded in DSDP wells 511 and 330 drilled to the east of the Falkland Islands in the Falklands Plateau sub-basin.

Geographical Spread

The Falkland Islands

Board of Directors and Key Management

Major Shareholders

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