06 Borders & Southern Petroleum plc Annual Report & Accounts 2014 PROGRESS REPORT DARWIN GAS CONDENSATE DISCOVERY THE DARWIN DISCOVERY CONSISTS OF TWO ADJACENT  TILTED FAULT BLOCKS CONTAINING HIGH QUALITY CLASTIC RESERVOIR, CLEARLY IMAGED ON 3D SEISMIC DATA . The Darwin reservoir comprises Early Cretaceous  shallow marine sandstone. The hydrocarbons have  been trapped in two simple tilted fault blocks, fault  sealed to the north and dip closed to the south.  The gas condensate is highlighted seismically by  amplitude conformance to structure and an  associated flat spot. The gas condensate/water  contact was not seen in the discovery well. LICENCE PL018 B&S INTEREST 100% STRUCTURE TILTED FAULT BLOCK AREA OF SEISMIC ANOMALY 26 SQUARE KILOMETRES RESERVOIR EARLY CRETACEOUS  (APTIAN) WATER DEPTH 2011m TOTAL DEPTH 4876m GROSS INTERVAL 84.5m NET PAY 67.8m AVERAGE POROSITY 22% (UP TO 30%) AVERAGE PERMEABILITY 337 MD (UP TO 1D) ESTIMATED GAS IN PLACE 3.5 TCF ESTIMATED RECOVERABLE  CONDENSATE 360 MMBBL (MID CASE) CONDENSATE API 46 TO 49 DEGREES MODELLED POTENTIAL  FLOW RATES 70 MMSCFD (PER WELL) MODELLED POTENTIAL  LIQUID PRODUCTION 9,500 BBL/D (PER WELL) Technical Summary Darwin Structure  – map view of two tilted fault blocks  (Darwin West & Darwin East). Seismic amplitude anomalies  show strong amplitude conformance to structure.  Darwin Reservoir  – quartz rich sandstone deposited in a  shallow marine shelf environment. Yellow = quartz grains,  Pink = feldspar grains and Blue = porosity.