AGM Statement

Borders & Southern Petroleum plc
08 December 2005



For release at 11.00 a.m. 8 December 2005


                        Borders & Southern Petroleum plc
                                   AGM Update

At the annual general meeting of Borders & Southern Petroleum plc ('the
Company') a presentation to shareholders is being given. A copy of the
presentation is available on the Company's web site at
www.bordersandsouthern.com. The presentation includes a map showing the new 2-D
seismic lines shot on behalf of the Company and selected seismic lines showing
the types of structures identified.

Howard Obee, Chief Executive said; 'The seismic has identified frontal folds,
tilted fault blocks, sub-thrust closures and stratigraphic traps. None of these
play types have been tested in the South Falkland Basin.

'Our initial review has identified many structures, more than anticipated, and
some leads have a mapped area of closure up to 140 sq km. We have also seen
extensive evidence for gas hydrates and many 'amplitude anomalies' throughout
the acreage, some of which are associated with the simple folds. These may be
indicative of hydrocarbons.

'The Company's ongoing project work includes structural modelling, gravity and
magnetic modelling, thermal and geochemical modelling and will lead into
reserves calculations, risk analysis and economic analysis.

'Our tasks over the next few months will be to complete the technical evaluation
and generate a ranked prospect inventory, defining the 10 top ranked prospects.
We also need to increase awareness of the South Falkland Basin to the industry.
In the medium term we will need to decide whether to place our own 3D seismic
contract or farmout acreage during 2006 with the intention of being able to have
a target drilling programme for 2007.'



For further information please contact:

Howard Obee                        Simon Hudson/Richard Sunderland
Chief Executive                    Tavistock Communications
Borders & Southern Petroleum plc   Tel: [phone]
Tel: [phone]



Notes to Editors

B&S was formed as a public limited company in June 2004. At that time, the
Company submitted an application for its first project, offshore exploration
acreage (19,598 square kilometers) in the South Falkland Basin, southeast of the
Falkland Islands. The Company was subsequently granted five production licences
by the Governor of the Falkland Islands with effect from 1 November 2004.




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