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## TECHNICAL SUMMARY 

Borders & Southern’s acreage is located in the South Falkland Basin, a frontier basin extending to the south and east of the Falkland Islands. Five wells have been drilled in the basin so far. In 2012 Borders & Southern made the first significant hydrocarbon discovery in the basin with exploration well 61/17-1. 

The South Falkland Basin comprises a marine depositional sequence. This contrasts with the lacustrine sediments found in the North Falkland Basin. Good quality marine source rocks of Early Cretaceous age have been proven in the exploration wells. These source rocks appear to have a wide distribution. Similar Late Jurassic to Early Cretaceous source rocks are recorded in DSDP wells located to the east of the Falkland Islands and in exploration wells located in the contiguous Malvinas and Magellanes Basins to the west. 

Early Cretaceous and Tertiary clastic reservoirs provide the main exploration targets. Good quality Early Cretaceous shallow marine sandstone reservoirs have been proven in exploration wells. 

Whilst a large part of the basin is represented by a simple passive margin sequence containing mainly stratigraphic traps, Borders & Southern’s acreage is characterised by abundant structural traps. These are related to both early extensional faulting and later folding and thrusting. 

## Natural-gas condensate 

Natural-gas condensate is a low density mixture of hydrocarbon liquids that are usually in a gas phase in the reservoir. During production, as the gas is brought to surface, changes in temperature and pressure result in the wet gas dividing into separate gas and liquid phases. The liquid typically has an API of between 45 to 85 degrees and can display a range of colours between dark brown to almost colourless. Those with a lower API are darker in colour similar to crude oil. 

The Darwin condensate is an amber coloured liquid with an API of 46 to 49 degrees. 

## EXPLORATION ACTIVITY 

2005 ACQUIRED 2,862 KM OF 2D SEISMIC 

2008  ACQUIRED 1,492 SQUARE KM OF 3D SEISMIC 

2012 DRILLED TWO EXPLORATION WELLS 

2013  ACQUIRED 1,025 SQUARE KM OF 3D SEISMIC 

## WELL RESULTS 

## 61/17-1 (DARWIN) 

TILTED FAULT BLOCK 

GAS CONDENSATE IN GOOD QUALITY EARLY CRETACEOUS SANDSTONE RESERVOIR 

## 61/25-1 (STEBBING) 

THRUST-CORED ANTICLINE 

VERY STRONG GAS SHOWS (C1 TO C5) IN POOR QUALITY TERTIARY RESERVOIR 

UNABLE TO REACH UPPER CRETACEOUS TARGETS DUE TO ANOMALOUS PRESSURES 

