Borders & Southern Petroleum (GB:BOR) has released an update.
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Borders & Southern Petroleum has successfully raised £1.5 million to further develop its Darwin Gas Condensate discovery, with significant investment from its own board of directors. The fundraising involved issuing 100 million new shares at a discounted price, with plans to use the proceeds for license fees, technical studies, and general administrative expenses to advance the Darwin project. The company is actively seeking a partner to move the Darwin project into the appraisal stage and has engaged a new international advisor to assist with this effort.
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