Boarders and Southern Petroleum Plc, based in the UK, is an oil and gas exploration company with a focus on frontier and emerging projects. The company intends to go internationally to unproven areas of basins for major discoveries. It is currently working on five licenced areas off the Falkland Islands, the company’s first projects since founding in 2004. The work primarily concerns an untested basin to the south of the Islands and the company holds a 100 percent interest and is the sole operator of all projects. The company sees its role in the petroleum industry as one that generates ideas for high value projects and takes out risks to unlock potential new sources.
Pursuing New Opportunities Aggressively
The company’s strategy is to assemble a portfolio of international oil and gas acreage in countries where both political and commercial risk are relatively low. In any play fairway, where possible, the company would like to secure a significant part of the acreages for multiple high impact prospects. The company does not seek partnerships in early stage exploration and relies solely on self-funding. However, the company would use any earlier success to attract funds from other companies when large drilling campaigns take place. Apparently, the company has made a calculation on pursuing frontier exploration projects over those in mature places.
Adopting Leading Technology Vigorously
Because of the higher technical risk profile existed in any frontier and emerging exploration, without the application of some leading edge technology, the risk of success would be even higher. To prepare for exploration, the company has acquired both 2D and 3D seismic data and to mitigate technical risk, it uses a diligent petroleum systems analysis. The company also has a detailed well engineering studies programme related to its offshore deep water drilling.
Shares of Boarders and Southern Petroleum Plc (BOR) are listed on the London Stock Exchange’s Alternative Investment Market and were at 73.50p as of 10 August 2010.