News from Sharecast:
Oil and gas company Borders & Southern on Tuesday said it has completed the 3D seismic programme in the South Falkland Basin offshore the Falkland Islands.
The group acquired 1,025 sq km of full fold seismic data which will be processed by Petroleum Geo-Services.
‘The final, depth processed data will take approximately nine months to be delivered but work will commence on well planning using the fast track data, with ultimate well locations to be selected using the final product,’ the company said.
The news comes a day after the firm reported strong annual performance for 2012 with a successful drilling campaign and significant discovery in the Falkland Islands. The group narrowed its loss before tax to $1.1m from $1.7m the previous year.