Borders & Southern’s Well #61/17-1 in the South Falkland Basin encountered a good quality sandstone reservoir comprising 67.8 m (222.4 ft) of net pay with an average porosity of 22%. The gas condensate reservoir was sampled at four separate levels with three fluid samples taken at each level.

The initial condensate yield from the Darwin gas samples, as measured in a laboratory separator test, varies from 123 to 140 MMcf. The API gravity of the condensate is 46° to 49°. Based on the condensate yield and ongoing reservoir modeling, the company estimates the recoverable volume of condensate to be 130 to 250 MMbbl with a mid-case of 190 MMbbl.

Following these positive laboratory results, the board will approve a work program that includes appraisal drilling of the Darwin discovery. Additional wells are necessary to confirm the initial resource estimates and establish a commercial development. In the coming months, activity will focus on a comprehensive technical evaluation of all the data collected from Well #61/17-1 and a review of potential development concepts along with project economics.