MercoPress, en Español

Montevideo, November 20th 2018 - 17:43 UTC

Falklands’ Argos needs additional capital for drilling set to begin at end of year

Wednesday, September 28th 2011 - 22:18 UTC
Full article 12 comments
Chairman Ian Thomson, “3D data quality is excellent” Chairman Ian Thomson, “3D data quality is excellent”

Falklands based Argos Resources expects to drill its first well on license PL001 in the North Falkland basin in late-2011 or early-2012, using the semi submersible rig Ocean Guardian, currently operating in the Islands’ waters.

However, Chairman Ian Thomson admits that the company will need additional capital to finance drilling, and the board is reviewing its options.

“Interpretation of recently acquired 3D data is well advanced,” Thomson said. “The two structural prospects, Zeus and Demeter, have been confirmed and are considered to be robust closures. Mapping of other structural prospects continues and early indications are encouraging that these, too, will be confirmed.”

One of the main features of the northern part of the basin, close to PL001, he added, is the presence of a major delta system.

“The 3D data quality over the delta is excellent and we are now using that data to identify new stratigraphic prospects.

“Several new prospects and leads which were not evident on the old 2D data [from 1996] have already been mapped from the 3D data. We are very encouraged that additional prospectivity is being identified in our license area”, said Chairman Thomson.

Argos licence area adjoins licence areas being explored by Rockhopper and Desire, who between them are involved in a multi well drilling campaign in the North Falkland Basin in 2010 and 2011.
 

Financial Tags: AORGF, DES, RKH.

Top Comments

Disclaimer & comment rules
  • JPL

    http://www.youtube.com/watch?v=0VenUSUgekA&feature=channel_video_title

    Sep 28th, 2011 - 11:22 pm 0
  • Filippo

    IN UK THEY HAVE DIFFERENT OPINIONS AND CAN NOT COMPETE WITH UNIFIED DOGMA REPEATED BY ENTIRE POPULATION!!

    Sep 29th, 2011 - 09:32 am 0
  • moneypennysilas

    .But request information from and expect you'll deal by using any conditions may arise usually in the repairing of the vehicle.Durham, North Carolina automatic repair products offer many very dependable organizations which will charge so what the repair will.But once you pick a fabulous random one to venture to when you'll need repairs, it is not actually likely you encounter one of several trustworthy your

    Sep 29th, 2011 - 04:26 pm 0
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!