Borders & Southern, the London based independent oil and gas exploration company with assets offshore the Falkland Islands, announces its audited results for the year ended 31 December 2023. Full copies of the Company's Annual Report and Accounts, including the Company Overview, Chairman's Statement, Remuneration Committee Report, Directors' Report, Auditor's Report and full Financial Statements, will be available on the Company's website and posted to Shareholders along with the notice of the AGM shortly.
Summary
· Raised a total of a further $0.783 million (£0.65 million) before expenses through a capital raise as part of the 2022 capital raise
· Cash balance on 31 December 2023: $1.9 million (2022: $2.7 million)
· Administrative expense for the year: $1.1 million (2022: $1.2 million)
· Operating loss of $1.0 million (2022: $1.3 million)
· Post balance date, Harry Baker appointed CEO to replace Howard Obee
