Borders & Southern

What Borders & Southern does

Borders & Southern Petroleum Plc is an AIM-listed independent oil and gas exploration company incorporated in England and Wales and headquartered in London. The company holds a 100% equity interest and operatorship of three Production Licences covering nearly 10,000 square kilometres in the South Falkland Basin, approximately 150 km south-east of the Falkland Islands. Its flagship asset is the Darwin Gas Condensate Discovery made in 2012 with exploration well 61/17-1, comprising two adjacent tilted fault blocks (Darwin East and Darwin West) that demonstrated a proven petroleum system in the basin.

The company's underlying technology consists of 2D and 3D seismic surveys and drilling operations. Six wells have been drilled in the South Falkland Basin to date, with Darwin being the first significant hydrocarbon discovery. The technical team is led by ex-BHP Billiton, BP and Woodside subsurface and drilling professionals, including Drilling Manager Jon Harris, who managed the 2012 drilling programme that delivered the Darwin discovery.

Borders & Southern's business model centres on discovering hydrocarbons and monetising them for stakeholder benefit by progressing discoveries through appraisal and development into production. The company is currently pre-revenue and in the appraisal/development phase for Darwin; it has no commercial product or pricing model today. Capital is raised through share placements on AIM, and the company is actively pursuing a farm-out process, engaging an international advisor in October 2024, to bring in a partner for development funding and technical capabilities. No production revenue has been generated to date, and the company's economic exposure is concentrated on a single asset in a single frontier jurisdiction.

Name

Borders & Southern

Legal name

Borders & Southern Petroleum Plc

Website

https://bordersandsouthern.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Borders & Southern Petroleum Plc is an AIM-listed UK oil and gas exploration company holding 100% interest in three Production Licences covering nearly 10,000 square km in the South Falkland Basin, anchored by the 2012 Darwin Gas Condensate Discovery.

Ownership category

akta.pro rank

Product category

Upstream Oil & Gas Exploration

NAICS

Natural Gas Extraction (211130), Crude Petroleum Extraction (21112), Geophysical Surveying and Mapping Services (541360)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Offshore Natural Gas E&P (Shallow & Deepwater) (EUAAAAAF)

akta.pro secondary industries

Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA), Mineral Rights, Leasing & Land Management (EUALAAAB)

Keywords

• Oil and gas exploration
• Upstream hydrocarbons
• Offshore exploration
• Gas condensate discovery
• Frontier basin exploration

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others

Revenue model

1. Exploration and Appraisal: Pre-production stage oil and gas exploration company. Currently in the appraisal and development phase for the Darwin Gas Condensate discovery. No current production revenue. Revenue will be generated through eventual hydrocarbon production and sales once development is completed.
2. Farm-out Arrangements: The company is pursuing farm-out processes to bring in partners for the Darwin project, sharing costs and risks in exchange for equity stakes in the development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Borders & Southern Petroleum Plc is an independent oil and gas exploration company that holds 100% interest and operatorship in three Production Licences covering nearly 10,000 square km in the South Falkland Basin, offshore the Falkland Islands. The company's principal asset is the Darwin Gas Condensate Discovery made in 2012 with its first exploration well 61/17-1, comprising the Darwin East and Darwin West fault blocks. The company conducts 2D and 3D seismic surveys and drilling campaigns and is currently pursuing farm-out arrangements to advance the Darwin discovery through appraisal and development toward production.

Product overview

Borders & Southern Petroleum Plc is an independent oil and gas exploration company focused on the Falkland Islands. The company holds a 100% equity interest and operatorship in three Production Licences covering nearly 10,000 square kilometres in the South Falkland Basin. The company's primary asset is the Darwin Gas Condensate Discovery, comprising two adjacent tilted fault blocks (Darwin East and Darwin West), made with exploration well 61/17-1 in 2012. Borders & Southern's business model centres on discovering hydrocarbons through exploration, then progressing discoveries through appraisal and development into production. The company conducts seismic surveys and drilling campaigns, with the Darwin discovery being their flagship asset.

Differentiator

Problem solved

Functional benefit

Products and services

• Darwin Gas Condensate Discovery The company's flagship asset, comprising two adjacent tilted fault blocks (Darwin East and Darwin West) with a clear flat spot and amplitude conformance to structure defining the hydrocarbon charged reservoir. It is in the appraisal and development phase, targeting future hydrocarbon production.
• Falkland Islands Production Licences Three Production Licences covering approximately 10,000 square km in the South Falkland Basin, with numerous low risk, high impact prospects surrounding the Darwin discovery. Work undertaken to date includes 2D and 3D seismic surveys and a successful drilling campaign.
• Hydrocarbon Exploration Services The company's fundamental activity of discovering hydrocarbons through exploration, then progressing discoveries through appraisal and development into production. Activities include seismic survey acquisition and interpretation, exploration drilling, and appraisal of discoveries.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Rockhopper Exploration plc: AIM-listed upstream oil and gas company with historical Falkland Islands exploration and production exposure (Sea Lion discovery). Comparable as a small-cap, frontier-focused E&P listed in London with single-asset concentration risk.
• Argos Resources Limited: AIM-listed exploration company with a 100% operated interest in licence areas in the North Falkland Basin. Direct peer — same London listing, same frontier Falklands focus, and similar small-cap, single-basin profile.
• Falkland Oil and Gas Limited: Former AIM-listed pure-play Falklands explorer (now part of Harbour Energy). Direct historical peer with comparable frontier acreage strategy and similar concentration in the South Atlantic.
• Challenger Energy Group plc: AIM-listed small-cap E&P with offshore exploration exposure. Comparable as a small-cap, single-strategy London-listed explorer dependent on partner-funded drilling programmes.
• IOG plc: AIM-listed UK-focused upstream company developing gas/condensate fields in the UK North Sea. Comparable as a small-cap London-listed gas/condensate developer reliant on farm-out/funding partners to progress development.
• Hurricane Energy plc: Formerly AIM-listed UK West of Shetland operator focused on fractured-basement reservoirs (also known as Hurricane Energy). Highly comparable as a small-cap London-listed frontier E&P whose single-asset thesis was proven but commercial development proved challenging.

Broad incumbents

• Harbour Energy plc: UK-listed independent E&P (formed via Premier Oil merger) that has historically held acreage in the North Falkland Basin via the Falkland Oil and Gas acquisition. Comparable as a London-listed operator with Falklands heritage and frontier-basin exposure.
• Tullow Oil plc: London-listed independent E&P focused on frontier and emerging basins in Africa and South America. Comparable as a frontier-basin explorer that has experienced exploration successes and disappointments, providing a benchmark for single-asset country risk.
• Cairn Energy plc: London-listed independent E&P focused on frontier exploration (historically India, Senegal, Mexico, Suriname). Comparable as a frontier-basin specialist whose share-price volatility around single exploration wells mirrors Borders & Southern's binary risk profile.

Regional players

• Pharos Energy plc: London-listed independent E&P focused on Vietnam and Egypt. Comparable as a small-mid cap London-listed frontier-basin producer with concentrated asset exposure and dependence on partner/funding decisions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/borders-and-southern-petroleum-plc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Borders & Southern