Falklands-focused oil and gas explorer Borders and Southern said yesterday 2012 had been a breakthrough year, with a 200million-barrel gas-condensate discovery underpinning its future.
The UK-listed firm intends to bring partners into its Falkland licences to help fund the next appraisal and exploration programme. Its end-of-year cash balance was £36.7million, with pre-tax losses down to £720,000 compared with £1.1million for 2011.