Borders & Southern (AIM: BOR), 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 2020. 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 tomorrow on the Company's website and posted to Shareholders in May.
· Cash Balance on 31 December 2020: $2.18 million (2019: $3.68 million).
· Administrative expense for the year: $1.0 million (2019: $1.45 million).
· Operating loss of $1.01 million (2019: $1.37 million)
· The farm-out process has been extensive and far-reaching - the Company continues to investigate all possible options for funding the next drilling programme.