Borders & Southern Petroleum

AGM

30 June 2020

Important Notice

These presentation materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities or investment in or assets of Borders & Southern Petroleum plc nor any invitation or inducement to engage in investment activity under section 21 of the UK Financial Services and Markets Act 2000 ("FSMA"). The content of these presentation materials has not been approved by an authorised person within the meaning of FSMA.

These presentation materials shall not form the basis of or be relied upon in any manner or for any purpose whatsoever and they must not be used or relied upon for the purpose of making any investment decision or engaging in an investment activity and any decision in connection with a purchase of securities in or assets of the Company must be made solely on the basis of the publicly available information.

Accordingly, neither the Company nor its directors or agents makes any representation or warranty in respect of and no liability is accepted in relation to the content of these presentation materials.

The information contained in these presentation materials is subject to amendment, revision and updating in any way without notice or liability to any party. The presentation materials contain forward-looking statements which involve risk and uncertainties and actual results and developments may differ materially from those expressed or implied by these statements depending on a variety of factors.

No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained in these presentation materials, which have not been independently verified. The delivery of these presentation materials shall not at any time or in any circumstance create any implication that there has been no adverse change, or any event reasonably likely to involve any adverse change, in the condition (financial or otherwise) of the Company since the date of these presentation materials.

Corporate Snapshot

Ordinary shares in issue

484,098,404

Share Price (close 26 June 2020) Market Capitalisation

0.75p

£3.63 million

Cash balance (31 December 2019) Debt

$3.7 million Nil

Capital StructureHigh Value Growth Options

Current Upstream Constraints

$140

$120

Our key objective of securing partners and project funding is set against a very challenging industry environment:

$100

  • •Capital availability has tightened significantly during the last 5 years

$80

  • •Exploration and appraisal drilling has reduced substantially

    $60

    $40

  • •The number of conventional offshore projects reaching FID has reduced appreciably, whilst spending on unconventional shale plays has increased

    $20

  • •Recent impact of coronavirus pandemic is causing a drastic fall in global energy investment

Darw

in Discovery

rent Crud

e

Our Response

  • •Strict cost control- the company has always maintained a highly disciplined approach to financial management, with low overheads and careful deployment of capital, but the Board has outlined further measures:

35% reduction in Executive Directors salaries 25% target reduction in 2020 expenditures

  • •Enhance project attractiveness- revisit sub-surface evaluations, project engineering, economic inputs to project economics such as drilling and development capex requirements

  • •Explore all possible partner and funding options- assisted by an investment bank we will continue to investigate all conventional and creative upstream solutions

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Borders & Southern Petroleum plc published this content on 30 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2020 14:13:02 UTC