Mercosur agrees info exchange on hydrocarbons naval traffic to the Falklands
Mercosur agreed at the Mendoza summit to exchange information on ships and other “naval artefacts” involved in hydrocarbons activities with routes that include the Falklands/Malvinas Islands over which Argentina claims sovereignty.
At the summit it was also agreed besides information exchange, “to adopt measures susceptible to be regulated to impede the access of ships or ‘naval artefacts’ flying the illegal flag of the Islands” to the ports of the countries that make up the block.
The statement is one of several on different issues subscribed by Mercosur full members and associates released on Friday at the end of the summit.
“The presidents of Mercosur and associate member states declare their commitment to exchange available information on ships and ‘naval artefacts’ with routes that include the Malvinas, South Georgia and South Sandwich Islands with cargo destined to hydrocarbons and/or illegal mining activities on the Argentine continental platform”, reads the resolution.
Members present at the Mendoza Mercosur summit and Unasur extraordinary meeting included: Argentina’s Cristina Fernandez, host of the event; Brazil’s Dilma Rousseff; Uruguay’s Jose Mujica; and associates from Peru, Ollanta Humala; Evo Morales from Bolivia; Sebastian Piñera, Chile and Rafael Correa from Ecuador. Venezuela’s Foreign Minister Nicolas Maduro represented President Hugo Chavez.
The leaders also renewed their support for Argentina’s sovereignty claim over the Malvinas Islands, a British Overseas Territory.
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134 comments Feed
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Curtain twitch away nosy neighbours but if you try to impede you can expect a fine old slapping and the full force of international law.
Think - if that is one of your nails then your standards are slipping. Perhaps you should weigh in those nails to the scrap dealer for some USD. I hear they are hard to come by down your way.
You say....:
“So Mercosur are going to share information on ship movements which is data freely available to anyone with an internet connection.”
I say...:
You mean “ internet freely available information on ship movements as, for example, the Leiv Eirikson?”
Oooooooooooooooooooops.......
Where did that “internet freely available information” go?
Chuckle chuckle©
www.marinetraffic.com/ais/default.aspx?oldmmsi=308243000&zoom=10&olddate=lastknown
as per transmitted ais co-ordinates.
Fail to see you point.
Right, I am ordering my dollars for my holiday, as many as I want :-)
We'll just get on with the business of drilling and shipping that luverley oil and gas.
Watch out for those shares you sad Argy National Socialists - Rockhopper up 5% yesterday.
Nice, old cached picture from “Marinetraffic.com”; BEFORE the erasure of the Leiv Eirikson rig from their data bank.............
Try again, lad.................
+86 110?
Chuckle chuckle
13 hours ago? Its not within range of a shoreside AIS logger... probably only uploads its position once every 24 hours.....its not as if its moving very far is it....
Thicko .. ask your 'well hung Norwegian Naval Officer' boyfriend how this stuff works.
Funnily enough……, not only the Leiv Eirikson Drilling Rig has “Vanished” from the ”Internet freely available information on ship movements” ……..
www.marinetraffic.com/ais/shipdetails.aspx?mmsi=308243000 (Not Currently in Range)
Its three supply & anchor-handling vessels, the Toisa Sonata, the Toisa Intrepid and the Ocean Prince are also “Out of Range” from the ”Internet freely available information on ship movements”
www.marinetraffic.com/ais/shipdetails.aspx?mmsi=308421000 (Not Currently in Range)
www.marinetraffic.com/ais/shipdetails.aspx?mmsi=308621000 (Not Currently in Range)
www.marinetraffic.com/ais/shipdetails.aspx?mmsi=258106000 (Not Currently in Range)
Seems that the Brits are getting nervous…..
Information blackout?
Brainwash anybody?
You will have to get up earlier in the morning to keep pace with this “old geezer”, laddie…………
Chuckle chuckle©
www.marinetraffic.com/ais/datasheet.aspx?datasource=ITINERARIES&MMSI=308621000
Four British Pirate Oil Prospection Ships ceasing their AIS reporting within minutes of Mercosur’s Agreement on Info Exchange about British Pirate Hydrocarbons Naval Traffic to Malvinas……............
Somebody is getting nervous…..................
And it ain’t us :-)
Anyhow….. Argentina doesn’t need those unreliable internet tools…….
We have our incorruptible Italian friends from Edison S.p.a. inside FOGL to provide us with all the Info we could wish.
Chuckle chuckle©
This raises the question “Who are the REAL pirates in the Falklands area- the commercial and oil support vessels sailing legitimately, or the pirates of Argentina who are trying to stop them?”.
Also - “to adopt measures susceptible to be regulated to impede the access of ships or ‘naval artefacts’ flying the illegal flag of the Islands” - Under what definition of international law is the Falklands flag illegal? The Falklands flag is internationally accepted by most nations of the world as a legitimate registration and by IMO. The Argies seem to make up their little fantasy world as they go along.
I do wonder why he is so interested in this oil exploration. Sounds like envy to me. Otherwise he would't give a shite.
Nice try Think but i am happy knowing where the LE was 13 or so hrs ago, why not you?
By my own admission, poor?...... Indeed!
By my own admission, uneducated?....... Certainly!
By my own admission, slave of Marxism?..... Why do you always lie, lad?
Think knows nothing about AIS and the regulations regarding marine vessels and the relaying of positioning information.
Maybe they are closed on Weekends.............
Chuckle chuckle©
'Another nail on the British Pirate Oil Prospection coffin in the South Atlantic.......................' ?
I must have missed something. Nothing has changed.
Anyway THINK why are you so obsessed with the FI?
@17 RedBaron
'The Falklands flag is internationally accepted by most nations of the world as a legitimate registration and by IMO.'
The FI flag is becoming very famous, sales of the flag are rocketing world wide, as people show there support for the islanders.
ITS ALL GOOD!!!
In the meantime the Jolly Roger will suffice.
Correcto Thicko , you know nothing, there is no obligation for ships on the high seas to post their position via AIS for the world to see... see above re the Indian Ocean.... just try finding any navy ships or better still any FI fishery protection ships....
are your dogs keeping you warm enough these cold nights?
Strange that you cannot see it???
However, negotiations with Argentina would be much more difficult than simply ignoring them and getting the job done. After all there is bugger all that Argentina can do.
Have you been spotting ships on the Internet the whole morning?
Do me (and yourself) a favor....
Take your little boy outside and teach him how to kick penalties.
It may come handy for you, English............................... Some day ;-)
According to the world bank we are the sixth largest economy in world, you are the 27th. Countries as small as Belgium and as sanctioned as Iran are more influential than you. We don't need to worry about penalties, worry about yourselves when your stupid president crosses the line and we are forced to utterly humiliate you again.
The UK should be prepared for increased but toothless agression from Argentina but be ready to sink anything that comes into range and possibly retaliate on their mainland to discourage any other provocations.
Think is highly excitable, haven't heard the nails going in for a long time, in fact in the last few months he has been pulling them out. The drill bit keeps turning and all is well in the English speaking South Atlantic. You certainly can't say the same for Argentina, let their economy die a painful death while people starve and freeze.
As for the bit of paper support for your cause at Mercosur etc - han,t anybody told them yet that there is a regular freight sailing direct UK-Falklands and also periodic additional freight sailings on demand, and 5 direct flights from the UK every 2 weeks.
Puzzled as to why the oil operators would need to even think of shipping stuff via S America? They are not quite that stupid!
So the nails must echo a bit in your ears?
@29 Afraid not. Peron revived this illicit claim to justify his actions, supported by Hitler, when Britain “lost” WW2. Shame WE didn't co-operate! Nothing will change until Peronistas, in any guise, are exterminated. They are easy to recognise. Plenty of them get on here.
@30 In the “good ol' days”, guess what we British used to use instead of footballs? Heads! That's right, we used to slice people's heads off and kick them around. In these days of “austerity” and now that “u.k. is finished!” heads seem to be a popular alternative to footballs. Particularly argie and other S. Am. heads as they have been exposed to the sun and are closer to leather. Tinpotman is a prime option as it is virtually hairless, as well as brainless. CFK is another option as the hair can be used to swing the “ball” around for the “throw-in”. Other argie heads, including yours, can be used as novelty “balls” as one never knows where they will go. Lucky you. Maradona's head will need special work to close the mouth. You may finally become “useful”! AARRGHHAHAHAHAHAHAHAHAHAH.
A new slant on “heads up”!
Poor argies. And I do mean “poor”. Probably without heat, light, fuel. Pop round to the Casa Rosada. Are the lights burning far into the night? While CFK desperately tries to steal more money and cover it up. Or are the lights out? Can't be bothered. Let's go home. Is CFK still on track for her billion dollar personal “fortune”?
Managed to get him to swim 25m four times with no arm bands. Not bad for 4 1/2 yr old?
Not bad at all...
Keep up the good work...
Mr Think can I ask, do you actually think that all these measures brought in by LatAm countries are going to solve anything? I mean with have got threats, blockades, import restrictions, unanimous discussions at high level South American meetings, accusations of militarisation, threats/strong rhetoric from Argentine leaders, banning of cruise ships, banning of Royal Navy vessels, banning of Falkland island vessels, banning of vessels with flags of other UK territory/Flags of convenience, companies that have become involved have been written letters of legal action, denouncing us in the UN etc, etc, etc, I mean the list goes on.
And yet for some reason despite all these obstacles, the oil companies are down there, they are drilling for oil, they have investors lined up to assist and the FIG/UK government and the islanders themselves haven't flinched at the matter. Do you really think that this another measure in a long line of measures is going to change anything?
I hope you realise that there is nothing your country and its people can do, you have tried every social, political and military option to “recover” the islands and all have failed and these measures that I previously mentioned will only be added to that list of failures. I mean don't you see? There is nothing you can do to get the islands. Give up.
You are pulling my leg...................................................... Aren't you?
You write....:
“And yet for some reason despite all these obstacles, the oil companies are down there, they are drilling for oil.......”
I wonder....:
What reason would that be..................?
To protect the self-determination rights of ~3,000 British squatters.......?
And, just to answer your last paragraph unequivocally .....
B-b-baby, you just ain't seen N-n-nothin' yet......
No, you ain't seen nothin' yet.....
You ain't seen nothin' yet.....
www.youtube.com/watch?v=7miRCLeFSJo
Conor is right, you are wrong!!!!
Tell one serious and big companie who is drilling whit you-
One of the top ten who work in all around the world-
Don't tell em its around the Falkland Islands, Pike!
Are you Argies completely fucking stupid?
Do you like EDF?????
I saw these and thought of you, I would like to buy them for you. Send me your address and I will post them ;)
www.amazon.co.uk/X2BOCF088-Falkland-Islands-Flag-Cufflinks/dp/B005NWT1IC/ref=sr_1_8?ie=UTF8&qid=1341071035&sr=8-8
And so on for a century.
Mr Think I believe I asked you a question and you failed to answer, so i'll ask again, What Is Argentine going to do that will change the status quo, as all other attempts have failed? If you fail to respond then I will presume you are incapable of answering because you don't know or you are afraid to admit the truth: Argentine is never going to get the islands.
Oil, oil, glorious oil.
Nothing quite like it for cooling the blood
So follow me follow, down to the hollow
And there let me wallow in glorious oil.
Just think of all those Spams, Toms and Jacks spending US$ and UK£ in the local economy, not to mention the local jobs it would create, seems like a sensible idea to me.
Mercosur are just beyond the pale. Imagine if we WERE posting a few Type 45's and a few subs off each of the capital cities of this bunch they would all be as quiet as church mice.
You are correct, there is absolutely no need to transport the Falklands oil anywhere near the mainland South America. It will come straight of the FPSO's and onto tankers to the Market.
The Sealion development is aiming for around 80000 barrels per day. That's just the first discovery. Each barrel will give the FIG around $30 revenue. $2.4million per day every day.
Who knows if the big Southern plays become commercial.
However, that aside..it is clear that Argentina has trouble with the supply to it's Patagonia pipeline for gas. It would suit both parties to work together for an optimal gas solution for the FIs. perhaps the FIG could sell it to Argentina at a slight discount?
Probably not, more likely Argentina will cut of it's nose to spite it's face (looking a CFK, perhaps someone has done that already)
Not interested in translating your post and no wish to do so. Tell me where is she going next? I would think that she would get her priorities right and stay home and sort out the shit load of strife your country is in! After all, that is the function of most normal heads of state. Where next, running out of meetings and such to attend . Shit it is a suprise she even gets off the plane. What are her priorities, her people? or a minor territorial dispute with a nation thousands of miles away, she has no hope of winning. That what you elected her for???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Mate you know and I know that since 82, the UK forces have evolved into a veteran combat fighting force, it's training , is the best in the world and it's equipment is generations ahead. Some of our guys have as many as five, six or even seven combat tours and they now lead the guys!
They can be as aggressive as they like, it is a no contest. We would never attack them and franky I do not think they would dare to attack us again.
Me too, nice to see them giving the guys the respect they earned, long time overdue!!
Guzz, me I love him, can argue with him for hours, Suprised there were no takers on the Paraguay base issue though. I thought Paraguay had a coast, shows you how much I know. Take care navy have a tot for me and I'll have one for you!!!
Absent friends.
regulated to impede the access of ships or ‘naval artefacts’ flying the illegal flag of the Islands”
does this mean impeading the royal navy.
es.wikipedia.org/wiki/Islas_Malvinas
No wonder they are all brainwashed.
Compare that to the English language version.
en.wikipedia.org/wiki/Falkland_Islands
@59 cornishair
Defiantly an element of racism going on here. It wouldn't be an issue, if the inhabitants of the FI were of Spanish descent.
Yet another silly, silly., silly threat. I was not ware that any of the ships etc were hiding. If they want to impead the RN, I am sure the RN will fire off flares, turn on lights, sound horns hey here we are. The RN does not hide (well not all the RN, only the sneaky bastards that will send a torpedoe up their rear end.) Nothing but more pathetic rhetoric!!
so just more blank talking then.
Oh, do we consider this has a veiled threat against the UK. Must be veiled, because not of them would have the bollocks to come out and say it to our face. Cowards the whole bunch of them!!!!!
Would you paddle up to a type 45, and say, ????
And that’s before he blows you into a jigsaw puzzle .lol.
www.buenosairesherald.com/article/104968/argentina-implemented-measures-that-killed-mercosur
interesting statement...
@78.... this is now Thicko's normal form... pop up... utter some total bollocks and when shown to be a nong..yet again... vanishes.... like a fart in a fan factory.....
You've then got the likes of Think who claim 'Another nail in the coffin' whilst back on earth the Falklander's are the richest they've ever been and are about to get infinitely richer and then in the true spirit of Argentina he states a load of uneducated nonsense about the shipping countries being worried whilst back on earth they are clearly not given they are ramping activity up in the area.
And the cycle goes around with Argentina falling into another economic melt down whilst Cretina distracts the attention of the simple i.e. Think.....
In the words of el Think chuckle chuckle.....
I would start to worry a lot more with these policies of Mercosur, and do not forget you are all alone in Mercosur and the Mercosur no wasting time!! this is not for chucklle, chuckle!!
shall be imposed more and more hard policies and you laugh (chuckle, chuckle)......... you are so stupit man. The brits will be able to continue this occupation and without complying with the 40 UN resolutions in Malvinas Islands, but this is not forever! understood!!! to continue chuckle, chuckle!!!
Sorry do not speak chuckle, next time you go to the Malvinas, try bringing real soldiers!!!!!! Chuckle, chuckle, chuckle!!!!!!!!!!
I think you will find that you are “stupit” as I said to Mr Think; I hope you realise that there is nothing your country and its people can do, you have tried every social, political and military option to “recover” the islands and all have failed and these measures that I previously mentioned will only be added to thay list of failures. I mean don't you see? There is nothing you can do to get the islands. Give up. What Is your answer then?
:-)
We are not afraid of bullies or their threats because we know that Argentina has always blown a lot of hot air. It is probaly the reason the climate has changed so much withg all that extra hot air about.
So while our people continue to do what we always do you can keep blowing your trumpet plastic face.
Come, come, There really is nothing wrong with children that believe in fairy tales. Whoops, they are not children! So why do they keep behaving like it?
Interesting comment about Venezuela's imminent membership being somewhat “fast tracked”
40 UN resolutions? Oh you mean General Assembly resolutions (which are not legally binding), the ones that suggest that the UK and Argentina talk about sovereignty, taking into account the wishes of the Falkland Islanders? Those 40 resolutions that were INVADLIDATED on 2 April 1982, when Argentina illegally invaded the Falklands, and ignored 2 UN Security Council Resolutions (which are legally binding) 501 and 502.
Since Argentina broke the UN resolutions, the UK is under no obligation to abide by them anymore.
Congratulations, you got a few countries to make so light hooting noises to sooth the ever increasingly unstable CFK. Nothing will come of it, just as nothing came of you crying to the UN, and to the OAS, and defiling a War Memorial.
As for the Falkland Islanders being alone, I think you'll find that they've got the 54 nations of the Commonwealth on their side, the EU, International Law on their side, and if Argentina should ever be stupid enough to attempt military action again, then the Falkland Islanders would have NATO on their side (Article 5).
Next year when the Falklanders have their referendum, they will then lobby the UN to remove them from the decolonisation list, and get the UNGA to issue a new resolution that the Falkland Islanders sovereignty dispute is over, as the democratic process has worked.
And since Argentina 'always' obeys UN resolutions, then we can expect you all to STFU about the Falklands forever, can't we?
If you are so concerned that the Leiv Erickson is running about like a rogue elephant, trying to escape from the mighty forces of Argentina and it's cronies - why don't you get on a boat or plane and go and take a look for yourself. I would suggest the last reported point as a good place to start.......................
Even if they did stop reporting their position - thats fine be me - it makes it a bit harder for you lot to do something stupid. Anything that makes Argentinas life harder gets my support.
That's still faster than the Argentine Navy. ;0)
Talking about going to the UN - when Mossad agents took the mass murderer Adolf Eichmann back to Isreal for trial, the Argentinian government protested to the UN and asked Eichmann to be returned.
SHIT's remit is to put together all information on shipping movements to and from the Falkland Islands, as well as intelligence on companies involved in hidrocarbon exploration and/or extraction.
According to Mr. Kirchner, the staff of SHIT will be between 1.200 and 2.000, he thought that the latter figure would be nearer to the truth because of the large kitchen staff to be employed.
During the first few months, SHIT employees will be paid with government bonds, so as not to complicate Kretina's brilliant economic policies.
Mr. Kirchner also spoke of the need for state of the art technology to be able to bring SHIT on-line.
I'm afraid that you leaders would not have the guts to do that Mr Hunter and as I asked Mr Think; I hope you realise that there is nothing your country and its people can do, you have tried every social, political and military option to “recover” the islands and all have failed and these measures that are mentioned in the article will only be added to that list of failures. I mean don't you see? There is nothing you can do to get the islands. Give up.
I find it the height of hypocrisy that some filthy esl illegal commie living off the teat of the “Anglos” would bad mouth them. Ever hear don't bite the hand that feeds you?
Yo. are completely Sickening!
Think (1) I notice you have changed your usual nail and coffin statement from the end of British sovereignty to “oil prospection”. It is good that you are lowering your expectations. It is the most sensible thing you have ever done.
I'll pay to send you to antarcticia, a one way ticket. I give you 15 minutes before you freeze to death, it regularly gets to -50 degrees in the winter (before windchill). Even most of the scientists bug out in the winter.
As for the UN, why would they remove the legal inhabitants from their own country? Legal as in it's their property, and next year the Falkland Islanders will vote in a referendum under UN auspices, and then will lobby to get the Falklands removed from the decolonisation list. Democracy at work, and CFK can't do what she did in Argentina and pay people to vote for her, so the Falklands will get removed from the list and Argentina will be told to shut up as the people will have spoken and sovereignty will be settled.
You are a small minded individual who has no idea about how the real world works. The UN would never hand over a democratic people to a dictator like CFK.
Again with the humiliation Pirat-hunter, BEGGING people to help you.
The arrogant Argentine government crawling and it's knees and begging, ”please, please help us against the nasty Brits. It's not fair, they can fight better than we can (throws dummy out of the pram), and they won't remove the smallest military presence in the Southern Hemisphere so we can invade. It's just not fair...WAH...WAH...WAH!”
In one word it's PATHETIC!
“ I bet you dont know where my nuclear submarine is either do you?”
Mr Camoron
That's easy...found it!
www.youtube.com/watch?v=B6Regw-AhXI
There you go again Mr Marcos, grabbing a link and trying to make an argument, grow up and act your age unless you are about two, what this alleged “David Cameron” fellow said and your link have nothing to do with the article at hand, wise up.
www.youtube.com/watch?v=rHW8pCb_WZU
Are you deliberately not understanding? That video was incoherent BS that was mostly speculation, my point was that you sir lack the ability to back up what you say even when you do bother to stay and have a debate, I think all that indoctrinated Malvinas junk from your school days has been drummed in hasn't it Mr Marcos?
YYYYYAAAAWWWWNNNNN.....BBOOORRRRIIINNGGGG.......
Yet more recycled out off date news- HMS Astute - about the third or fourth time you've mentioned that isn't it, the cuttiung edge of late news from 2010. What is the problem? Do you have OCD about the submarine? Or is it more like autism?
en.wikipedia.org/wiki/ARA_Santa_Fe_(S-21)
Humiliated RG submarine force, sunk by the Royal Navy jajajajajajajjaja
Another example of 'give peace a chance' as understood from the RG's.
Doubt they will actually want to interfere with the 'naval artifacts'
I think as extra protection we should send HMS Victory down to the South Atlantic.
Oh yes, anyone heard of any progress in the legal action the RG's are taking against the oil companies who are going to make the FIs richer?
Have they started shipping the oil out already?
Jul 02nd, 2012 - 09:16 am
What? Like secretely and clandestinely?
73: In an exercise whit the Alvaro Bazan of Spain (AEGIS...you know it?) one SUE “sink” the frigate with an EXOCET-
WHY? new techniques for sink new ships..... we work too...!
Islander 1: why? because we sell to them A LOT of the soya they need for survive- Because is more profitable to make an agreement whit Mercosur (350 million people) to pay licences for 2000 british citizens who stay in a conflict zone-
And all compnies (fisheries and oil companies too) who stay there will be banned for work in mainland...
What did you - if you stay in their pants?
SAFETY-
I don't think its anything important otherwise he would have said so.
The main issue is getting all that luverley oil and shipping it out to the rest of the oil thirsty world. The Argies need to get going on their side of the Shelf otherwise we'll be sucking up all their reserves by mistake. Stuff all looks the same so it would be difficult to tell if it was Brave Democratic British Oil or Cowardly Facist Spic Oil.
But China sells a massive amount of goods to the UK-note that GIVES them money. China gives money TO Argentina. Are China really going to risk their massive income from the UK for...........a few fish?
Exocets were fired against UK forces in 1982-that is THIRTY years ago. We now have T45 destroyers. You really, really do not want to mess with those. Ohh and this time, if Exocets are fired at us, your ships and airbases will not escape retaliation next time round, or any Mercosur navy stupid enough to attack the brits.
B-b-baby, you just ain't seen N-n-nothin' yet......
nice job Think quoting BTO, a great band from my home town! Keep up the good work
:-)
Great?
You mean Superb!
The good news just keeps on coming.
Stand by for action! The Falkland Islands could be making headlines again very shortly. And this time, it won’t be Cameron and Kirchner who are dominating the headlines.
On 11 May BORDERS & SOUTHERN (BOR), one of the intrepid band of Falkland oil explorers, announced that it had spudded its Stebbing well. “The well duration”, said Borders, “is estimated to be 49 days”. 49 days from 11 May takes us to 29 June – so any day now we should be getting the result of this well. And the whole Falklands story should take another step forward.
If you have been a Penny Sleuth subscriber for a while, you will know that I keep a watchful eye over the Falklands and take note of every rumble and roar. Just this year some of the Falkland's oil explorers have seen share prices take a significant jump.
The most notable success so far has been Rockhopper’s Sea Lion discovery of 1.3bn barrels – however, later on I shall tell you about a discovery which could prove to be up to three times this find!
While President Cristina Kirchner and David Cameron were squaring up at the recent G20 meeting and Argentinian officials brandishing our prime minister a ‘colonialist’ for dismissing Kirchner's call for talks on the sovereignty of the islands, the oil industry is carrying on pretty much regardless.
Tensions fraught between Cameron and Kirchner
Let me deal with the political situation first. In respect of her demands over the Falklands Kirchner has shot herself squarely in the foot by the sudden decision to nationalise the Argentinian interests of the Spanish oil company Repsol.
Kirchner accused Repsol of a failure to invest in the country’s oil industry, but this seemed little more than a trumped up excuse for an act of piracy that made Kirchner no friends outside of her own country and her limited cabal of South American sympathisers. In her attempts to enlist international support for her claims to the Falklands this act of high
can only backfire.
Cameron, meanwhile, is sticking to his line that the Falkland Islanders should be allowed to make up their own mind about their political future. There will be a referendum next year on the issue and the chances of the islanders committing their future to the Argentinian flag are very remote indeed.
Rich opportunity for the leading Falkland players
The Repsol affair has upset Spain, and now Argentina has French and Italian interests to contend with. This follows last week’s news that Edison Spa, an Italian utility owned by France’s EDF has farmed into the licences of FALKLAND OIL & GAS (FOGL). Edison will receive a 25% interest in Falkland Oil’s northern licences and a 12.5% interest in the southern licences off the archipelago in return for paying drilling costs of $50m and a separate cash payment of $40m.
This gives FOGL some useful financial ammunition to further its exploration programme and it expects to spud its first well on the giant Loligo prospect in July. With mean prospective resources of 4.7bn barrels of oil, this is one of the biggest prospects drilled anywhere in recent years, and a successful find would turn the Falklands into a major oil province overnight. To put it in context this is more than three times the size of ROCKHOPPER’s (RKH) Sea Lion find in the north Falklands Basin, which has a best estimate of 1.3 billion barrels of oil in place.
Rockhopper, though, does have the advantage of a confirmed find, the only one to date in the region. According to an independent assessment by Gaffney Cline & Associates, development of the Sea Lion field has a 90% chance of going ahead. On this basis, and after applying a 10% discount rate, it has been valued at £2.2bn, which is a long way north of Rockhopper’s current £733m stock market valuation.
This gap reflects lingering doubts that the oil will ever be lifted, and what Rockhopper needs is a partner to put up much of the considerable amount of mo
money needed to develop the field. Rockhopper has opened a data room to prospective partners and Chairman Dr Pierre Jungels comments that ‘whilst the location of our acreage has prevented some companies from being able to participate, I have been very pleased by the quality of those that are doing so.’ Participation in the Rockhopper venture by a reputable oil partner would endorse the region
The Falkland Islands oil business could dominate the news
Another business that is clearly betting on a favourable outcome is FALKLAND ISLAND HOLDINGS (FKL). It has raised £8m, most of which will be spent on the Falklands where the company owns a number of sites on the outskirts of Stanley which are suitable for the development of a warehouse park for rental to oilfield services companies.
Anticipating an influx of oil men, it is also planning to invest in housing, offices, retail operations and its Land Rover dealership, and it has signed a joint venture with Southampton-based Trant Construction Limited.
So despite the sound and fury of the political debate, the oil business of the Falkland Islands is proceeding apace. In the next few weeks it could take a major leap forward. Results from Border & Southern’s Stebbing well and FOGL’s Loligo, along with news of a partner for Rockhopper and the Falklands will be in the news for other reasons that have nothing to do with the anniversary of the war.
This tiny explorer could be sitting on 4bn barrels of untapped oil
If you haven’t managed to watch this presentation yet – I highly recommend you take some time out to watch it. This could be one of the biggest oil finds of the century, and more importantly… not many people are aware of it.
Until next time,
The Penny Sleuth
Thanks Simon.
Thank you sir, very enlightening!!!!
This has had some negative affect for us - but a very very serious one for you!
I think you will find that all those nations who apply for and obtain licences from the Islands Govt to fish in the Islands zones are happy with the arrangement!
Spanish companies operate here and your side- all thjey have done is put a legal company seperation inbetween so you cannot screw the part that operates over here - they have been doing it for years!
It obvious isn't it?
Everybody loves Argentina as it is so trustworthy and honest, and KFC is the second coming, and...er...and...er..er...er...er
Nope I got nothing.
from opposite ends of the earth, we agree on something. There's hope for humanity yet:)
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