Borders & Southern Petroleum (GB:BOR) has released an update.
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Borders & Southern Petroleum plc reported a lower operating loss of $1.0 million for 2023 compared to $1.35 million in 2022 while maintaining a cash balance of $1.9 million by year-end, after successfully completing a 2022 capital raise. The oil and gas exploration firm, debt-free and with assets in the Falkland Islands, appointed Harry Baker as the new CEO to drive forward the Darwin discovery. The company is exploring alternative financing options for its appraisal program and remains focused on the potential of its assets in light of the global industry’s shift towards increased upstream investments.
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