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Shares in Borders & Southern Petroleum (AIM:BOR), the AIM-listed oil and gas explorer with licences in the Falkland Islands, fell 15% to 9.78p on Friday. The drop came after Argentina's president, Javier Milei, said he would speed up sanctions against companies involved in oil extraction projects near the islands.

Borders & Southern Petroleum (AIM:BOR) said accelerating development of the Sea Lion oil project is sharpening investor attention on the Falkland Islands as the company advances talks over a farm-out of its own Darwin discovery. The explorer pointed to Navitas Petroleum's commitment to secure a second FPSO for Sea Lion and Rockhopper Exploration's recent capital raise to meet additional development costs, saying the investment reinforced the Falklands' emergence as a new oil-producing region.