Tuesday 27 October 2020

Borders & Southern Petroleum plc (AIM: BOR) is pleased to announce that it has been granted an extension to its Falkland Islands licences.

The Company's Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, were due to expire on 31 October this year. In light of the approaching expiry date the Company applied for, and has been granted, an extension to these licences by the Falkland Islands Government. The new expiry date for the licences will be 31 January 2022, which brings them in line with the expiry date for the Company's Darwin Discovery Area Licence. There is no additional work programme commitment associated with the licence extension.