Borders & Southern provides an initial review of its 3D seismic interpretation. The 3D survey, acquired in 2008, covers an area of 1,492 sq km, representing approximately 7.6% of Borders & Southern’s total licensed area. The survey was designed to target some of the largest high-graded leads that had been identified on the Company’s 2D seismic data.

Whilst the technical interpretation will continue, the initial phase is now complete. The Directors believe that all of the Company’s pre-3D objectives have been achieved. These were: to reduce the technical risk; to deliver a high quality prospect inventory; to validate the direct hydrocarbon indicators identified on the 2D seismic lines; and to identify well locations on prioritised prospects. Below we describe the key play fairways mapped along with two prioritised prospects.

The technical work has highlighted three principal play fairways:

A seismic amplitude supported Lower Cretaceous play fairway, An Upper Cretaceous / Lower Tertiary structural play fairway A Tertiary seismic amplitude supported play fairway. Within these play fairways, multiple prospects have been generated that, in common with analogous geological settings, could deliver in the success case multi-billion barrels of total recoverable reserves.

The 3D has revealed plenty of evidence for hydrocarbon generation and migration in the area. This includes a chain of five anticlines with gas hydrates located above the crests or slightly displaced on the asymmetric limb of the folds. Additionally, there are many seismic amplitude anomalies throughout the survey area.

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