Premier Oil Falklands’ deal has full support from Foreign Office and markets
Britain's Premier Oil which reached a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands took advice from the Foreign Office before closing the deal, according to UK media.
Sources close to Premier confirmed that the company, which also holds stakes in the UK North Sea and Africa, had consulted the British government before closing the deal which involves developing oil and gas resources offshore the Falklands which are claimed by neighboring Argentina.
“Obviously there is an element of political risk here but there is political risk everywhere including the North Sea where the tax regime keeps changing. The UK government clearly backs the Falklands government and we think the Argentines are saber-rattling for internal political reasons. We are not going to see military action,” said the source.
Premier said it would partner Rockhopper paying an initial 231 million dollars in cash as well as providing around 770 million to help build infrastructure for the development of the Sea Lion field 2010 oil discovery in the north Falkland basin.
“Rockhopper has made excellent progress in commercializing the Sea Lion project which offers attractive returns and fits well with Premier’s proven operating and development skills,” said Simon Lockett, Premier’s CEO at the moment of announcing the deal.
“This transaction extends our strong growth profile beyond 2015 and offers both exploration and development upside for our shareholders. We look forward to working closely with Rockhopper and the Falkland Islands government on this very exciting project,” he added.
London’s financial district showed no concerns about the controversial deal, pushing up the shares of both Premier and Rockhopper.
Argentina on Monday announced it had sent a letter to Premier, as it had done previously with Rockhopper and other UK-listed companies searching for oil and gas off the Falklands saying it will press criminal and civil charges over “illegal” drilling, plus describing the companies involved as “clandestine”.
However the Foreign Office spokesperson said Argentina’s legal threats had no basis in international law, saying their system did not apply to the Falklands. “The fact that oil companies are able freely to raise capital on the markets suggests that international business take this view too” added the spokesperson.
In June the government of the Falklands announced that it would be holding a referendum on the Islands “political status” to try to bury the issue of sovereignty once and for all despite the continuous pounding from Argentina.
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British plans in Malvinas fell 71% yesterday.
Bunch of losers.
Reminds me of the war where the Argentines claimed to have sunk Invincible every other day.
“Stealing is bad karma”
Yes. Payback time for Argentina as they have stolen land off virtually every South American neighbour plus as referenced in @2 Boovis off the original inhabitants.
And the assets they stole off Reprosol. Oh yes, thanks to that cock-up, can Argentina still get LPG?
And the milllions Argentina have stole off virtually everyone by not paying back debts which is theft.
That Marcos adds up to a lot of stealing by Argentina, and that's why very few countries will be stupid enough to invest in you-whereas the FIs get their investors despite Argentina's childish tantrums.
That must explain why the Argie economy is so badly screwed.
Borrowing money then refusing to pay back your creditors is basically theft, RGs.
Don't Malvinistas still insist that the Invincible was sunk but that the British went and replaced her quick smart before anybody noticed?
Not only that, but they have a cartoon of the alleged sinking on youtube, which they cite as proof.
ARA and FAA sinking HMS Invincible:
www.youtube.com/watch?v=KNJMkDuhzww
Just as well we keep a stock of inflatable aircraft carriers available for any such eventuality.
Argentina? Where the law means whatever the Gov't wants it to mean? Yeah that will get traction!
Oooh scary!
Bahahahaha
They have no case internationaly.
Unfortunately some Argentines are involved in the development - it's been 10 years and counting!!
en.wikipedia.org/wiki/Jet_Thunder
hahahha
You really should stop and think before you type, that way you might stop making these silly comments, I thought you had a degree, oh no you brought that!
1 dead, 17 shot in Alabama university
wrong man shot dead by police in Florida
family shot dead in Oakland California
This all just in the last 24 hours!!
But hey, lets go talk about the problems in other countries, we got it all under control in the good ol USA. Yeah! [sounds of firearms from the streets below at yankeeboy's 15th floor penthouse]
:)
WTF has shootings throughout the North American continent got to do with “Premier Oil Falklands’ deal has full support from Foreign Office and markets”
which is the thread we're on?
As usual Tobias, your only tactic seems to be to change the subject, just shows how under educated you are!!!!
If you want to hurl abuse at the UK I highly recommend the Daily Mail. It is the newspaper for zenophobes, misogynists and armchair racists. I think you would love it.
Besides, that is not of my interest believe it or not. I wish no ill-will to them.
I do it here for one very good reason: it is YOU who come here to insult my country, so it is you all who are the pro-active party. I'm simply here to respond. If you all stopped, I would too. But you won't, so I go on. Be glad I only stop by every 4th or 5th day now... I have a life and projects outside of this.
Besides, you all had already deviated the topic from the actual one to that of “video games”. Don't come all crying to me about who deviated the topic first, to continue insulting the Argentine war dead btw, which is what all foreigners here love to do.
Here's an idea - stop threatening the existence of 3,000 of our people and we'll leave you to rot in your own filth and pay you no attention to you at all.
OMG insulting Argentine war dead, thats a joke, you left their bloody corpses there and I'm sure the Falkland Islanders would be only too pleased to let you have the bloody lot back. Also I don't recall any of our athletes being filmed defiling an Argentine war memorial. You are utterly without shame.
Paraphrasing Britworker, you left your stinking, rotting war dead in OUR islands. Be glad they aren't floating home or feeding the fish.
You have a major problem with the concept of responsibility. You don't have any. Nothing is ever your fault! Back in 1820, you tried to claim territory that was already British. You complain because we took our territory back. You don't want to recognise the evidence that your claim got dropped. No justification for your 1982 war crime. If there was the slightest valid evidence, I'd admit you had something. But you don't. And you lie and cheat and thieve without shame. You have possibly the most disgusting 40 million things on the planet. And you are expecting respect and/or consideration? You bunch are so sick, your removal from the planet would do the world a favour. You are such scum!
Britain is a lie.
Again back to the obsession of standing in the world... If that's what makes you happy. We don't care about the rest of the world, it is irrelevant.
I missed the part where the UK has invented anything during the last 40 years.
But you did win a minor skirmish 30 years ago, that's true.
Haha a very minor skirmish with a tinpot country who has not got over the humiliation. That's why paid trolls roam the Internet in a desparate childish plan to post government propaganda.
Inventions mmmmm the internet...do you use that???
What? I'm not here to fight, I'm just stating facts. If you want to fight, well, I'm not in the mood.
The UK invented the internet? May want to hold consultations with the French (Minitel- telephone connection service), the Americans (Arpanet - computer sharing), Al Gore (ask him), the Japanese (University Tokyo link - webhosting), the Italian Sublink system (consumer based computer connectivity), Europan CERN, etc
@43
We are a civilized country, we fight at the polling stations. If you do it differently, your problem.
dna research, fingerprinting
MRI scans
CT scans
Stem cell technology
Just a few of many, any Argentine inventions that help the world????? I won't stay up
You could force a new election. If enough people express their dissatisfaction, CFKC will have no option.
All without any Argentinian involvement whatsoever.
Shine one you Falkland Islands.
@TTT
This is the “South Atlantic News Agency” after all. Bound to have far more about Argentina than Britain.
It is clearly Argentina that is the “pro-active party” here, quoting versions of history that are completely fabricated, laying claims to British territory that are completely unfounded and threatening the Islands tiny population of 3,000.
And you wonder why you encounter a level of hostility from the Brits here!
How do you suppose most Argys would react to Britain claiming Patagonia, then blockading Argentina until you were forced to negotiate?
Nope, none. Have a problem with that?
Food is scarce only for those that sold themselves to government programs. Those with independent sources of income have nothing to fear. Even in that depression of 2001, the cases of malnutrition were confined to the very poorest sectors in northern provinces, where the issue was the government temporarily had no money to support these dependency-laden groups.
@47
Well, many of us do believe countries like yours have a plan to invade us, many countries do. It's how you guys have don things as European nations for 500 years, a 50 year “intermission” is not exactly a trend.
@49
Heck even Chile, Brazil and Mexico invent things, as reported here. Fine, so why do we need to invent anything? You in the rest of the world are doing it, we'll enjoy ourselves while you work.
Using concepts from his earlier hypertext systems like ENQUIRE, British engineer and computer scientist Sir Tim Berners-Lee, now Director of the World Wide Web Consortium (W3C), wrote a proposal in March 1989 for what would eventually become the World Wide Web.
Just luck I guess!
Look it up on Wiki. They have 118 pages of uneduacted British inventors listed there!
the “british” WWW, which runs on french-inspired telephone architecture, japanese-inspired web-hosting, US-inspired point A-B computer linking, Italian-consumer based linking of PCs to create a more powerful larger system, etc...
That's why I laugh when people say “my country invented the internet, or the automobile, or the airplane, or electricity”.
ALL of the very influential inventions are a set of PARTS which were “invented” peace-meal in many places in the same era. Benz invented this, Ford invented that, French did this, etc... Marconi did X, Bell did Y, the british did Z...
There are none, what's your beef with it?
Last time they used to move around in gangs looking for rich homes to loot. Shops were also looted so where will you get your food when the shops are ransacked?
Too true, the northern provinces were hit hard but it was not only the people dependent on welfare. It was everyone. And they are all your fellow countrymen, or do 'poor but free' people not count in your eyes?
Please quote where I have said or tried to argue “Argentina is great”.
Thank you.
@59
The British did not invent the INTERNET (the whole system to make it work). Keep saying that to yourself though, lol.
@58
Too many of them are illegal immigrants, and in 2001 guess what happened when the welfare was suddendly ended, many went back home to Paraguay, Bolivia, Peru, etc. Now I know first hand that they can be very hard working people, because the ones that come to Mendoza WORK (in the vineyards, which is why Ugarteche in the heart of the wine country is one of the largest Bolivian towns in the world)... but in Buenos Aires many of those people are taken by the politicians and made dependent. Too bad for them for letting themselves be duped.
Using concepts from his earlier hypertext systems like ENQUIRE, British engineer and computer scientist Sir Tim Berners-Lee, now Director of the World Wide Web Consortium (W3C), wrote a proposal in March 1989 for what would eventually become the World Wide Web
Tango is Uruguayan, Malbec originally French.
@65
Ok, so you invented fuel-injection. So the UK inveted the automobile (that is the logic used by you two!) LOL
I sure can get far by buying a fuel injector, and would have saved me a lot of money... why buy a whole car?
Same with the WWW. Why buy a whole computer, set-up an internet-phone connection, ask for information from web-hosters... if the WWW can do that all by itself!
Oh look theres's Mr Tim Berners-Lee again and bugger me, they are calling him the inventor of the web. Now how uneducated is that?
That was the original quote, now all of you are quietly backtracking by saying “web”... hahaha.
Tim Berners-Lee invented the World Wide Web, which you and I are now using and that is a fact.
LOL
Gods!
Signing off.
Cheers!!
> Well, many of us do believe countries like yours have a plan to invade us, many countries do.
Why do you think, if we're so keen to invade to invade you, we didn't do it in 1982? A victorious Task Force down there already, your army off the mainland, navy in port, etc, etc. Surely we wouldn't let an advantage like that go by to come back 30 years later and have to start all over again?
Those doctors were immigrants and not true argies.
@75
You are more cunnning than that, you know that. You are good diplomats. You will, like I have said, find a legal excuse to invade someday without seemingly “overescalating” the situation . If not you, some other European nation will. Just the nature of things.
Hopefully it will fail, of course.
Who needs logic when you've got paranoia, huh? But I do look forward to the Belgian invasion of Argentina.
Is it paranoia, a conspiracy theory or a rather large chip? Actually I'd say it's all of the above.
The spread gaped to 45 percent on Tuesday as the informal peso closed down 4.39 percent at 6.60 pesos per dollar, according to the ask price. In regulated interbank trade, the currency slipped 0.11 percent to end at 4.5525 pesos per dollar.
In the blue-chip swap market, which sets the implied exchange rate used to buy Argentine assets traded abroad, the peso traded at 6.78 per dollar, traders said. That marks a 49 percent spread above the formal price.
9/1: inflation will be out of anybody's control by then.
and with that kind of backing,
why would they even contemplate worrying .
,,,,,,,,,,,,,,,,,,,,,,,,,
on the other hand,
CFK is backed up by plastics PLC .
Don't be so hard on yourself. Argentina must be good at something.
What about the tango and polo ?
I see the Argentina National Institute of Tourism are having a stand at the British Birdfair in August this year.. Sensibly they have been separated from the Falkland Islands stands !!
I will visit them anyway. I nearly booked a holiday with them last year until you-know -who started the ball rolling.
Their suggestion was to take a single ticket to Arg. join one of their guided tours, move on to Chile, spend time there and then take the flight to the Falklands. Returning to the UK via Chile - the flight to Brize Norton being too expensive. I wonder what they would advise now - take a flak vest ?
However, they were charming people and if all Argies. were like them, we would have no trouble.
Then rather that argue a point of conflict,
Would it not be simpler, for him just to name 10 things argentina has invented.
Simple, is it not .
.
“Even in that depression of 2001, the cases of malnutrition were confined to the very poorest sectors in northern provinces”
I was in Buenos Aires in 2002.
There I saw e.g. people fighting over the trash bins outside restaurants and beggars who looked like fugitives during one of the great famines in India or Africa.
Young conscripts forced into fighting really do deserve some respect, I am sure it was not there wish to be there. Please be mindful of respecting war dead.
These Argies change the subject, to argentine inventions,
Realise Argentina has invented nothing,
Then totally loses interest,
,,,,,,,,,,,,,,,,,,,,,,,,
The oil, will come sooner or later,
And its not yours,
But as you have your very own argentine oil, just sitting there under the ground,
Rather than trying to steal of the islanders,
Why don’t you lot get off your back sides and drill your own oil, for your own people,
And leave the Falklands alone.
Seems fair to me .
.
You're right, most of them had never even heard of the Falklands, they were told they were going on exercise in southern Argentina. Teenagers from all walks of life, trainee priests, medical students, given guns that they didn't know how to use and sent off to die.
Chuckle chuckle
21 ExPat 1987
WTF!! Did I miss something? Do we really know that Marcos is the one and only creepy Mike Bingham? There is no doubt that Marcos has firsthand experience of the Falklands but what makes you think he's Mike Bingham? Please tell me.
www.facebook.com/Britain1592
In that case surely if it is him, then it is out of the frying pan into the fire !
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