Recent Sea Lion Updates

Borders & Southern Petroleum plc

28 August 2026

 

28 August 2026

Borders & Southern Petroleum plc

("Borders & Southern" or the "Company")

Recent Sea Lion Updates

Borders & Southern Petroleum plc (AIM: BOR), the London based independent oil and gas exploration company with appraisal and exploration assets offshore the Falkland Islands, welcome the recent news from Navitas and Rockhopper regarding the accelerated development of Sea Lion. The steadfast dedication by Navitas demonstrates their confidence in the basin and the favourable fiscal regime.  In particular, the Company would like to congratulate Sam Moody and his Rockhopper team in achieving a substantial capital raise, at minimal discount, to finance their share of the extra capex requirements. The commitment to secure a second FPSO and the concomitant substantial capital committed, reinforces the irrevocable journey the Falkland Islands is making to becoming a new oil province. For Borders & Southern, this continues to point the spotlight towards this nascent hydrocarbon region, and reenforces our own experience of support for renewed investor interest.

Borders & Southern have 100% interest in all our acreage licences and have a substantial discovery, 462 MM bbls (P50) of recoverable liquid hydrocarbons with huge potential exploration upside. After a decade of under investment by the Major oil companies, there has been a plethora of M&A transactions along the Atlantic Margins over the past 18 months as 'Big Oil' looks to replace their declining reserves. De-risked resources of Darwin's scale are few and far between and are highly attractive to the oil industry.

The Company continue to engage with multiple third parties in the farm out process, significant progress has been made and we look forward to updating the market when the process concludes.

For further information, please visit www.bordersandsouthern.com or contact:

Borders & Southern Petroleum plc	Tel: [phone]
Harry Baker, CEO
Zeus (NOMAD and Joint Broker)	Tel: [phone]
Nick Searle  Simon Johnson  Antonio Bossi  Andrew de Andrade
Hannam & Partners (Joint Broker)	Tel: [phone]
Neil Passmore Leif Powis
Tavistock (Financial PR)	Tel: [phone]
Simon Hudson Nick Elwes

Notes to Editors:

Borders & Southern Petroleum plc is an oil & gas exploration company listed on the London Stock Exchange AIM (BOR). The Company operates and has a 100% interest in three Production Licences in the South Falkland Basin covering an area of nearly 10,000 square kilometres. The Company has acquired 2,517 square kilometres of 3D seismic and drilled two exploration wells, making a significant gas condensate discovery with its first well.

-ends-

 

END