Friday, April 19th 2013 - 06:24 UTC

Falkland Islands’ Sea Lion project will demand 5bn dollars and first oil is expected 2017

UK independent oil and gas Premier Oil company said that the Falkland Islands Sea Lion project is one of their biggest operations undertaken to date involving an investment of 5 billion dollars with first oil expected sometime in 2017.

Premier said that the company wants to maximise opportunities for local businesses and for local skills

An update on the Sea Lion project, a farm-out of Rockhopper Exploration was provided by Premier Oil at a public presentation this week in Stanley.

“The Falkland Islands are a key part of our ambitions for the future with the Sea Lion project, the biggest undertaken to date” said Ken Humphrey of Premier Oil at the very well attended event.

It is currently estimated that the Sea Lion field has recoverable oil resources of between 300 and 350 million barrels.

The development drilling phase will take several years with up to two rigs working on location. The construction phase of the Sea Lion field will take four years with first oil expected in 2017.

Preliminary site work has taken place regarding the possible construction of a temporary bundle building facility. However Mr Humphrey stressed that a decision has not been made and that different options were being considered.

It is also anticipated that the project will require a total lay-down area of around 220,000 square metres with Mr Humphrey saying that discussions are underway on this issue.

Mr Humphrey said that “2013 will see work continue on technical studies and engineering and logistical support and infrastructure options”.

It is expected that in 2014 a field development plan will be presented. With first oil expected in 2017, Mr Humphrey said that “the development of the Sea Lion field by Premier Oil would be a 5 billion dollars project with thousands of people around the world involved”.

Mr Humphrey also underlined Premier Oil’s commitment to the Falklands wishing “to maximise the opportunities for local businesses, maximise the opportunities for local skills development and minimise any negative impacts on the existing rural, fisheries and tourism industries”.

Last October the Falkland Islands government approved changes to Rockhopper’s production licence interests to permit the assignment of 60% of Rockhopper’s licenses to Premier Oil and the approval of Premier Oil to become the operator of the licenses.

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.

The independent oil and gas company also has interests and operations in Indonesia, Norway, Pakistan, Mauritania, UK and Vietnam,

 

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1 Think (#) Apr 19th, 2013 - 09:12 am Report abuse
TWIMC

5bn dollars to develop Sea Lion’s end of the world project with its meager 300 Million Oil Bubbles???

Anybody read The Telegraph this morning?....:
A “carbon bubble” is being formed because of an overvaluation of oil, coal and gas reserves held by companies across the world.
Energy firms will be forced to leave two-thirds of these reserves underground if the world is to meet internationally-agreed climate change targets. As a result, these fossil fuels will be unburnable and therefore worthless - causing huge market losses.
The research has been conducted by Lord Stern, a professor at the London School of Economics, and think tank Carbon Tracker, which is supported by HSBC, Standard & Poor’s and the International Energy Agency.
www.telegraph.co.uk/finance/newsbysector/energy/10004987/Carbon-bubble-could-fuel-another-global-economic-crisis-report-warns.html

Anybody read The Guardian this morning?....:
Jens Peers, who manages Mirova, part of €300bn asset managers Natixis, said: “It is shocking to see the report's numbers, as they are worse than people realise. The risk is massive, but a lot of asset managers think they have a lot of time. I think they are wrong.” He said a key moment will come in 2015, the date when the world's governments have pledged to strike a global deal to limit carbon emissions.

“The Oil Investors only believe environmental regulation when they see it,” said James Leaton, from Carbon Tracker “Analysts say you should ride the train until just before it goes off the cliff. Each thinks they are smart enough to get off in time, but not everyone can get out of the door at the same time. That is why you get bubbles and crashes.”
www.guardian.co.uk/environment/2013/apr/19/carbon-bubble-financial-crash-crisis
2 Britworker (#) Apr 19th, 2013 - 09:31 am Report abuse
@1
Why do you care?
3 Islander1 (#) Apr 19th, 2013 - 09:41 am Report abuse
Think- on those grounds, first to be killed off would be the Vaca Muerta potential then.
4 Pirate Love (#) Apr 19th, 2013 - 09:41 am Report abuse
while there is a demand for oil, people will pay regardless of specualtive newspaper stories, If argentina was offered a stake in The Falklands Oil for free would they refuse?? would anyone???
“The world sticks to emission regulations” yeah good luck with that.
and while the oil is in the ground The Falklands are sitting on an asset no matter how fast or slow its tapped, Oil will continue to be a world requirement whatever the pace and The Falklands will be a contributor to the world market.
5 Think (#) Apr 19th, 2013 - 09:44 am Report abuse
Turnip at (2) asks why do I care......

I'll explain for the Turnips.......

1) If, as today’s report suggests, energy firms will be forced to leave two-thirds of the hydrocarbons reserves underground; the Malvinas Pirate Oil Adventure will be one of the first ones to be cancelled.
Firstly, because its meager amount of hydrocarbons...
Secondly, because of its geographical position.
Thirdly, because of its political complications.

Anyhow.....,.I hope the Kelpers do ride this train until just after it goes off the cliff......
6 Pirate Love (#) Apr 19th, 2013 - 09:57 am Report abuse
@5 one word......Speculation!

I speculate argentinas peso will devalue to the $ by 50% in the next 2 years....

whats more likely??? just specualting....
7 Faz (#) Apr 19th, 2013 - 09:59 am Report abuse
PLEASE DO NOT FEED THE TROLL>>>

The Argies seem furious about something? What is it?
8 Clyde15 (#) Apr 19th, 2013 - 10:26 am Report abuse
#5
In that case the whole of Argentina should be elated.
No commercial oil extraction so Argentina loses nothing.
Why all the fuss about stealing “our national resources” if there is nothing of value there ?
In your scenario the Falklanders will be sitting on a windswept island empty of natural resources. Why the continual barrage of invective about a few thousand people eking out a subsistence 300 miles off shore from SA.
Could it be pure unadulterated greed or malevolence on ARGENTINA'S part or national kleptomania ?
9 Britworker (#) Apr 19th, 2013 - 10:33 am Report abuse
@5
Nothing whatsoever to do with you, mind your own business.
10 Beef (#) Apr 19th, 2013 - 10:37 am Report abuse
Think, thinks that sealion is the only oil in place. Watch the surrounding discoveries come on line as they feed into the FPSO. $$$$$$$$$$$

Meanwhile it will be a cold winter of discontent in Argentina.

Think, the Guardian is a paper for the chip on shoulder lefties. Keeps people like you thinking they are relevant at least.
11 Think (#) Apr 19th, 2013 - 10:44 am Report abuse
(3) Islander1

Firstly, I wouldn’t shed a tear if Vaca Muerta never took of………
Unfortunately there is an avid internal market for that oil……

Secondly, and please correct me if my info is wrong……..
Since 2011 it has been optimistically agreed by the main English actors involved in the Malvinas Oil Bubble that the Sea Lion field could be commercially developed for a couple of billion dollars if it had some 400mmb at a barrel price of ~80U$S …….

Today, the Sea Lion development is estimated to cost some 5 billion dollars, its reserves are estimated at 300mmb and the current oil price is below 90 U$S per barrel……..

You are already today, dangerously close to the cliff, even by the most optimistic calculations from them Pom speculants that, even without ever producing one drop of commercial oil, already have made their fortunes out of gullible English investors…..

And them Pom speculants are speaking sweet words into your ears about about “First Oil”…. in about…................FIVE YEARS!

Fool’s gold anyone?
12 Beef (#) Apr 19th, 2013 - 10:47 am Report abuse
So a world without oil then Think. You are comedy mate :-)
13 Think (#) Apr 19th, 2013 - 11:03 am Report abuse
(12) Mr. Beef

The quality of your debating skills was much higher during your “Coprological Era”.......

1) Nobody in here has mentioned a word witout oil....
Not me, nor that well known communistic London School of Economics, nor that even better known marxist English newspaper...:The Telegraph......
But all three of us are mentioning the “Carbon Bubble” of which, the English Pirate Oil Adventure in the Malvinas Isles is an unimportant little figment.....

www.carbontracker.org/carbonbubble
14 Pirate Love (#) Apr 19th, 2013 - 11:12 am Report abuse
@11 “Fools gold anyone?” , no thanks i would never invest in YPF.
15 M_of_FI (#) Apr 19th, 2013 - 11:19 am Report abuse
So Think, before you said that there is no oil and now you are admitting that there is oil around the Falkland Islands? That was a very subtle change in your “expert” opinion.
16 Think (#) Apr 19th, 2013 - 11:48 am Report abuse
(15) M_of_FI

Sorry Kelper.........
No “Subtle” or otherwise change in my “Humble” opinion.....

I have never pretended to be an “Expert” in anything on these pages....

Never bragged about intelligence, education or fortune....

My only “pecadillo” has been teasing you English peasants about my Viking ancestors fathering (with the kind cooperation of your 50'th through 30'th Great-Grandmothers) your half blood English ancestors a short millenium ago....;-)

My “humble” opinion about Oil in Malvinas has, since my first comment on MercoPress's pages, always been the same ...:

There is no feasible “Commercial Oil” in or around the Malvinas Isles....
That has been common knowledge since the seventies.....
Reconfirmed during the nineties.......
To be re-reconfirmed soon....

Situation would, of course, be different if the price of oil was today around the 200 U$S per barrel mark.

But it isn't........
17 Conqueror (#) Apr 19th, 2013 - 11:59 am Report abuse
We should all be very grateful to Twinky. Just look at his concern for the Falkland Islanders over an oil industry that may not materialise. Even though it has cost them nothing! On the other hand, economically-strong argieland is looking at spending an extra 400 million DOLLARS for fuel. For the time being. Meanwhile, in direct response to the pleas of JT3, potential investors in the argie oil industry are keeping their money to themselves. At the same time, foreign “expertise” in oil exploration and exploitation is staying well clear in case something gets “expropriated”.
18 honoria (#) Apr 19th, 2013 - 12:20 pm Report abuse
To Think, a proposal: you Rgs shut up about the Falklands for five years until we find out if there really is any oil. If there is, you have my permission to carry on complaining. If there isn't, I suppose we won't be hearing from you again.
19 andy65 (#) Apr 19th, 2013 - 12:34 pm Report abuse
@ThinkedOver on your calculations then twat face the botox queen can stop worrying over oil she will never have
20 Think (#) Apr 19th, 2013 - 12:39 pm Report abuse
(18) Honoria

Sorry, my musical soulmate Kelperette.......

No can do.....

Oil or No Oil you will be hearing a lot from us....
21 andy65 (#) Apr 19th, 2013 - 12:45 pm Report abuse
@ThinkedOver “Oil or No Oil you will be hearing a lot from us....”

LOL No foooker listens mate that's all you people are good at latino tantrums because you can not get your own way cry as much as you like nothing will be changing, well perhaps just one thing and if Argentines have any sense then a change of leader would be a good start.
How's your boyfriend by the way Bendover????
22 honoria (#) Apr 19th, 2013 - 12:59 pm Report abuse
Dearest musical soulmate Think,
every time I listen to Aqualung I Think of you.
23 Benson (#) Apr 19th, 2013 - 01:01 pm Report abuse
@16 Think
“There is no feasible “Commercial Oil” in or around the Malvinas Isles....”
You are absolutely right, there is around the Falkland Islands though.
24 Doveoverdover (#) Apr 19th, 2013 - 01:02 pm Report abuse
@20 Turnips, Sr, 65 of them.
25 andy65 (#) Apr 19th, 2013 - 01:08 pm Report abuse
@ Doveoverdover And so the drag queen arrives didn't take you long to change from THINK you prat.
26 Think (#) Apr 19th, 2013 - 01:21 pm Report abuse
Dearest musical soulmate Honoria....

Here I am.....
Sitting on a park bench....
eyeing little Kelpers with bad intent......;-)
27 yankeeboy (#) Apr 19th, 2013 - 01:22 pm Report abuse
Considering the USA, India, China and a lot of other large countries don't care about or signed on to any Carbon restrictions I think the point is mute.
Carbon Bubble.
Gads what a fool
The posts get more bizarre every day as the K myth is shown to be false
28 andy65 (#) Apr 19th, 2013 - 01:33 pm Report abuse
@ThinkDover The word paedophile comes to mind
29 Think (#) Apr 19th, 2013 - 01:37 pm Report abuse
(28) You mean like this luuuvely couple?

Old English woman spends four months in private quarters with known child molester…..
cdn.thedailybeast.com/content/dailybeast/articles/2013/04/19/queen-s-portrait-artist-rolf-harris-arrested-in-historic-sex-abuse-inquiry/_jcr_content/body/inlineimage.img.503.jpg/1366371330916.cached.jpg
30 andy65 (#) Apr 19th, 2013 - 01:43 pm Report abuse
Poor poor think, you really are a prat with you and your alter ego your obviously a sad little loner sat in some dirty bed sit in The UK somewhere what a sad life you do know there's help out there for people like you.
31 Think (#) Apr 19th, 2013 - 01:47 pm Report abuse
Poor poor Think.....

An old man wandering lonely.
Taking time
the only way he knows.
Leg hurting bad,
as he bends to pick a dog-end
he goes down to the bog
and warms his feet.*

*The great Jethro ;-)
32 Doveoverdover (#) Apr 19th, 2013 - 02:01 pm Report abuse
@31 Do you think he holds his breath in when he types?
33 Think (#) Apr 19th, 2013 - 02:23 pm Report abuse
(32) Mr. McDod
He surely does ;-)

Für (22) Honoria…....
Can’t get over the neat way you used Jethro to aggress someone…..
Very Jethro indeed ;-)))

This one is for all Turnips out there....:
www.youtube.com/watch?v=BV-ASc0qkrM
34 Doveoverdover (#) Apr 19th, 2013 - 02:40 pm Report abuse
@33 Then we should encourage him to submit longer, very much longer, pieces.
35 Think (#) Apr 19th, 2013 - 03:15 pm Report abuse
(34) Mr. McDod
I'm afraid, self preservation will prevail.... Even at his level.
36 andy65 (#) Apr 19th, 2013 - 03:36 pm Report abuse
Thinkedover ,You really need to get help
37 Pirate Love (#) Apr 19th, 2013 - 03:54 pm Report abuse
gettin back to the article which is being distracted from The Great news of further Falklands development......
There no point in rushing the production of oil in The Falklands at the end of the day its not going anywhere unless The Falklanders so wish, theres no rival countries nearby capable to sython it off anytime soon, so at your own pace Falklands, steer straight , through the smoke , your doing a excellent job with an equally prosperous future!
let the whines of frustration and envy continue to be the wind in your sails.......
38 Pete Bog (#) Apr 19th, 2013 - 05:31 pm Report abuse
@1
“when the world's governments have pledged to strike a global deal to limit carbon emissions.”

The Falkland Islands are doing alright. 40% of their power is generated by windpower which causes no CO2 emissions. That includes electricity that used to be generated by burning oil.

What other country Think, generates 40% plus of its power from renewables?
39 Think (#) Apr 19th, 2013 - 06:21 pm Report abuse
Turnip at (38)

Firstly, the Malvinas Isles are not a Country.....

Secondly, there are thousands of villages of about 2,500 souls all over the world's five continents, producing all their power from renewables....

Thirtly, a “Real Country” close to my heart (Norway) produces ALL their power from renewables and export their surplus to the rest of Europe...
40 surfer (#) Apr 19th, 2013 - 06:39 pm Report abuse
Turnip #39

Argentina is no longer relevant to The Falkland Islands, they have worked themselves out of the game.

It's over, time to move on, how's YPF doing? How about the dolar blue rate? Inflation, the dirty K money, 40bn reserves (yeah right) icebreakers, destroyers, blah blah
41 Escoses Doido (#) Apr 19th, 2013 - 06:40 pm Report abuse
At 39 Dover/Think:
Correct the Malvinas Isles are not a country.

They are a figment of your imagination.

The Falkland Islands on the other hand are not a figment of anyone's imagination, and may well be a 'country' soon enough.

Incidentally the word Malvinas was never uttered by a human voice until about 90 years after the name Falklands had been bestowed upon the Islands.

Did you know that? I'm betting you did, but just can't bring yourself too admit it.

Am I right?
42 Doveoverdover (#) Apr 19th, 2013 - 07:00 pm Report abuse
@41 OK, you're right. Can't speak for Sr Think though.
43 Escoses Doido (#) Apr 19th, 2013 - 07:05 pm Report abuse
Stand-by - He'll be here in a tic.....
44 Think (#) Apr 19th, 2013 - 07:07 pm Report abuse
tac...
45 Escoses Doido (#) Apr 19th, 2013 - 07:25 pm Report abuse
Think you may need some...
46 briton (#) Apr 19th, 2013 - 08:11 pm Report abuse
Impersonation is common amongst 5th columnists,

Its also well known that one or two argie bloggers are as argentine as we are aliens,

Some we predict are as British as the Thames,
Yet impersonate argentine bloggers,

We are not as fooled as you think we are..??
.phantom of the opera..
47 Escoses Doido (#) Apr 19th, 2013 - 08:39 pm Report abuse
So 'Doveoverdover' and 'Doverandover' are both 'Pensa'???
48 slattzzz (#) Apr 19th, 2013 - 09:37 pm Report abuse
@39 all there power from renewables? so what are those big fucking oil fields in the north sea then you arse
49 Think (#) Apr 19th, 2013 - 10:27 pm Report abuse
(48) Export..................
50 Escoses Doido (#) Apr 19th, 2013 - 11:47 pm Report abuse
Holy baby Jesus.

I'm of Norse Decent.
Lotta Noggie Paals.....In The Industry......
51 Falkland Islands (#) Apr 20th, 2013 - 12:29 am Report abuse
Think, oh dear me, what a jealous, hateful idiot you are. And just to let you know that you will never even get to sniff OUR oil from Our “Country” of the Falkland Islands.
52 Islander1 (#) Apr 20th, 2013 - 01:08 am Report abuse
Think -it remains 2-3 billion investment by first oil late 2017 - the 5 billion is -and always has been - the estimate total spend over the lifetimes of the field extraction.
Based on proven results from the Sealion area, and subsequent seismic there are good positive reasons to expect to find more SeaLions in the area - and from my meagre understanding of what the oil gurus say- it would be unusual if there were not.
So we have est 300-450 million barrels - then by 2020 we add in another 150-200-300 - who knows?

Dont forget also - over the next 5 years the Islands are goinmg to get a lot of development and investment and local business expansion.
Now, as we do not have Christina,s corruption levels - this will mean:
Plenty of business profit and higher wages = hefty increases in Govt tax revenues.

It is indeed not impossible that come late 2017 they start to pump - and ooops it soon runs dry -3 million not 300! - it happened once off NW Africa I believe.
Big Bad news for the Oil Company - and its shereholders - but the sensible ones will have derisked and recoupted initial investment long before anyway.
But FIG and we Islanders will still be sitting on a nice big bank balance - and Argentina will not.
53 Be serious (#) Apr 20th, 2013 - 05:30 am Report abuse
Oil price dips - World economy gets a boost - Demand rises - Oil price rises. Meanwhile Argie useless peso continues its steep decline.
From duster to sea water to oil. Standby for more good news and more Argie squirming.
54 Monkeymagic (#) Apr 20th, 2013 - 07:34 am Report abuse
Think

You are obviously clueless to the economics of the Sealion development.

Tell me: what is the income from the current 350million barrels of oil (just from Sealion) over the 20 year lifetime of the field?

Lets assume $100 per barrel, which is conservative. That's a sale price of $35 billion, and they need to spend $5billion to get it...of which $3bn is up front.

Doesn't sound quite as disastrous as you depict...in fact the economics, given the 30% tax and duty levied by the FIG is very attractive versus almost anywhere in the world. Certainly far far better than anything YPF could do in Argentina.

However, taking the $35billion and taking of the $5bn...leaves $30bn, there will be some OPEX...let's be generous and call it another $5bn. So over the life time $25bn...of which the FIG gets 1/3.

$8bn over 20 years...How much income per Kelper is that Think?

This plan of yours to make the cost per Kelper too high for the UK is dead on its arse.

What a turnip you are think....lChuckle chuckle
55 stick up your junta (#) Apr 20th, 2013 - 08:26 am Report abuse
@ 54
Paging Mr Think or Dover
56 Think (#) Apr 20th, 2013 - 08:41 am Report abuse
(54) The way English Turnips calculate…..:

If I sell me classic 1982 Austin Metro......
And all our classy Ikea furniture......
And the missus 8k wedding ring.....

I'll be able to buy a brand new Jag XKR Coupé !!!
What turnips the rest of the world are!!!
Chuckle chuckle
57 Monkeymagic (#) Apr 20th, 2013 - 09:06 am Report abuse
@56

No stink....the way any one with a brain might calculate...if I have a $ 35 billion asset, then add another $10bn, and it costs me $5-10 billion to get it, which incidently, PMO have already raised....it means I have income of $25-35billion dollars to look forward to.

1/3 of it belongs to the islanders....chuckle chuckle....you lose ...hahaha
58 Islander1 (#) Apr 20th, 2013 - 10:30 am Report abuse
One other point Tink - you mentioned the politics of sea Lion development? Sorry it is in a stable political environmnet area- Ok a bit more pricey to work as cannot work through neighbouring states - but it is proven that their assistance is NOT essential and can be totally avoided, just costs a bit more - and those costs already factored in.
Big attration to UK - the $3billion is largely going to spent IN UK - materials and expertise etc etc. The oilmen from Aberdeen are chuckling nicely.
59 Think (#) Apr 20th, 2013 - 10:32 am Report abuse
And if the English Turnip at (57) sells his classic Akai reel-to-reel tape deck...... He may even be able to buy himself an Aston....:-)))
60 lsolde (#) Apr 20th, 2013 - 11:04 am Report abuse
@31 Think,
Stop feeling sorry for yourself, Jethro.
61 Think (#) Apr 20th, 2013 - 11:17 am Report abuse
(58) Islander1
I can see that you were at the Narrows and heard all those sweet Pom promises….. Music for your ears, I assume….

But, as you said in a previous post….:
When this hoax dies, the “Sensible Ones” will have derisked and FIG and you Kelpers will be sitting on a nice big bank balance”……..

When this hoax dies you Kelpers will be sitting pretty alone in them Islands, with the “Derisked Sensible Ones” having moved to fresher pastures and the vast majority of losing English investors looking for somebody to blame…

Guess who it will be.......
62 Monkeymagic (#) Apr 20th, 2013 - 01:29 pm Report abuse
@61

My goodness stink....you are associating the islanders with the shareholders of the explorers...how dumb!!!

The islanders don't have to risk anything for their share...they get a third of whatever is produced, it doesn't matter if RKH was sold to Exxon tomorrow for a penny, the islanders still get their third.

Poor stink...chuckle chuckle....not a clue.
63 Islander1 (#) Apr 20th, 2013 - 04:28 pm Report abuse
61 Think- Was not there - but I do attend elsewhere at times so do have an idea as to what is happeneing.
You take as forgone conclusion what is albeit possible - but prtty unlikley goven more modern tecnology.
Dumb shareholders if they invest in any company in any nation without being aware that what may go up - may also go down!
Anyway Premier would take a knock - and carry on as they have cash inflows in pies in varous places and the oil or gas that flows there.
Only one who would go down badly would be RKH - and more fool their shareholders again if they are not awake to real life.The majority of them are not UK resident either.
So net impact on the Islands = positve multimilion gain 2014-2018-20 approx and in the bank.
Then from 2018-20 onwards - very good times with plenty of royalties flowing - or just good times with money in the bank earning interest anyway.
64 Brazilian (#) Apr 20th, 2013 - 04:56 pm Report abuse
Wathout with the oil, if the US finds out they might be the one's to invade the Malvinas this time :)
65 toooldtodieyoung (#) Apr 20th, 2013 - 05:15 pm Report abuse
56 Think-me-not

What's the matter, eating all those sour grapes making you sick?

The Falkland islanders are well on their way to producing that will be the envy of Argentina, A stable economy.

Think for a moment Think-me-not!!! wealth and an enhanced standard of living for all the islanders!!! without some botox, plastic president stealing the profit, mis appropriating funds and using it pad out her own bank account. It would blow your mind wouldn't it?

as for your “The way English Turnips calculate…..:”

LOLz!!!

and what about the way that Argentine Turnips calculate....?

If I sell me classic 1982 Austin Metro......
And all our classy Ikea furniture......
And the missus 8k wedding ring.....

I might be able to keep the lights on for the rest of the month...... LOLz

How is that KFC economic model working out for you?

enjoying it are you?
66 Think (#) Apr 20th, 2013 - 05:30 pm Report abuse
(63) Islander1

You are, conveniently omitting, a key component of my ”forgone, albeit possible scenario”……

That I am not speaking about a normal, albeit risky investment here but about an outright hoax……

When that hoax explodes, People and Press will be looking for scapegoats.....

And what better scapegoats than some rich, lazy, heavily subsidized, heavy drinking English fat cats squatting the sweet life in them Subtropical South Atlantic tax haven Island paradise, having, as you yourself put it: ”Good times with money in the bank earning interest”?

I can nearly see “The Sun” headlines……….:
“Goose Green 3 Para veteran hangs himself after losing everything on Rockflopper Oil Hoax….”

That would surely infuriate Mr. Conqueror ;-)))
67 Monkeymagic (#) Apr 20th, 2013 - 05:46 pm Report abuse
Stink

Again, you are proving yourself clueless, and writing around in bewildered and deranged state.

The Falklands Oil revenue, the amount of return to the islands HAS ABSOLUTELY NOTHING to do with Rockhopper or Desire or their shareholders. Their shareholders may (or may not) make returns out of Sealion, Casper, Casper South, Beverley, (and Zebedee, Ninky North etc etc)...the share price of these companies may (or may not) go up or down.

What is FACT is that Premier Oil is going to invest $3bn of THEIR money to bring an FPSO to the North Falklands basin.

Premier Oil is going to drill 20-30 PRODUCTION wells

Premier Oil is going to get 10000- 20000 bpd per production well and sell it for around $100 per barrel starting in 2017.

Finally, once Premier Oil get their initial investment back, they will pay duty and taxation to the Falklands Government. This taxation and duty will make the income per Kelper (IPK) multiples of the cost per Kelper (CPK) currently paid by the UK Government...which will also make our friends like Isolde richer than both of us!!! LOL.

When IPK>CPK...your plans are as dead as your brain.

What a cock you are...chuckle chuckle.
68 briton (#) Apr 20th, 2013 - 07:08 pm Report abuse
mmmm
you can buy this
or
you can buy that.

but you cant beat buy the best-
rolls==with or without ham.
lol
69 Doveoverdover (#) Apr 20th, 2013 - 08:51 pm Report abuse
@67 The exploration revenue is being recycled into oil related enabling infrastructure not people's pockets. You can be sure that the exploitation revenue, if it comes, will be used to buy UK Government Bonds with a low coupon. The interest will be used to pay the Island's running costs, including defence in totality and not just the FIDF. If any Island resident gets rich it will be as a result of commercial entrepreneurship or wise personal investment of the sort available to anyone who happens to be one the spot when money becomes available in large quantities.
70 Monkeymagic (#) Apr 20th, 2013 - 09:13 pm Report abuse
@69

Lol....

So, you are saying that a government will have income running into billions a year, with a population of a few thousand, and the population won't prosper.

Right-o.

Do a quick calculation on just Sealion and its satellites...even if you just want to talk interest, d that alone covers all the defence cost and replaces the need for any local taxation..and creates a surplus.

However, we know Sealion isn't alone, Borders believe Darwin is commercial, and who knows what the next round of exploration drilling will bring..

Sorry, but you and Twink need to troll on a different subject, this goose is cooked.
71 Islander1 (#) Apr 20th, 2013 - 09:41 pm Report abuse
Think - what is the hoax? Oil flowed from the test wells- well documented and accepted by the Oil Industry.
Figures all there for those with a genuine interest to examine.

Development Investment costs - the lions share comes from cash profits of Premier,s exisiting pumping fields around the world- not a speculative share issue.

Subsidized are we- by who? OK Defence costs - well we know whose stupid actions and attitudes cause them to be spent dont we?
Current around £60-65 million a year - in last 3 years approx half Billion Pounds spent on oil exploration - mostly all to the BENEFIT of the UK economy. So good return on say £180million Defence over that time I say.
And there is a good chance that by say 2030 UK will have been reimbursed by FI for all total Defence costs sice 1982 not just current annual cost.
72 downunder (#) Apr 21st, 2013 - 05:40 am Report abuse
In the not to distant future, will motorists feel guilty when they fill their tanks with 'pirate' petrol? I THINK not!
73 stick up your junta (#) Apr 21st, 2013 - 07:08 am Report abuse
Why should the Falklanders worry about it Think? When the Tinman reckons the islands will be Argentine in 20 years anyway ;-)
74 Joe Bloggs (#) Apr 21st, 2013 - 09:28 am Report abuse
Dover Think's post at 69 is closer to the truth than he realises. We want nothing more than to pay the UK for our defence and we'll be doing it by choice, not through a forced hand. He thinks his post is some sort of dire warning that we have no control of the situation. That couldn't be further from the truth.

Our short-term financial future is already assured, now with the potential oil income our medium-term financial future is assured also.

What ISN't going to happen:
The UK won't take all of our oil revenue.
The UK won't control what we do with our oil revenue
We won't simply get the same amount of UK funding as other villages of 2,500
We won't become rich overnight; income will be spent prudently on our future

Where are you today you deluded sad creature? Fishing in Chubut or lunching with your comrades at the Legion in Dover? My guess is neither. Chubut my arse! Naval officer my arse!

I visited some very interesting places over the last few weeks and I'm off again later this week. Lots of interesting business coming up.
75 Think (#) Apr 21st, 2013 - 04:32 pm Report abuse
(71) Islander1
You ask....:
“Think - what is the hoax? Oil flowed from the test wells- well documented and accepted by the Oil Industry”

I say....:
The hoax is that that Oil has flowed before……..
On the very same spot….
Un-commercial Oil…..

Rockflopper Exploitation just drilled a hole on the same Cretaceous Lacustrine Rift Basin Spot where Shell had found some Oil in 1998…..
If you want to see some of that “Old Shell Oil”, ask Stephen Luxton, Ex FOGL and current “Director of Mineral Resources” to show you that odd transparent acrylic cube at his office…..
(S.L. in the background, as L.C. ….: www.aapg.org/explorer/2012/12dec/hh1_800.jpg)

From there on, it was all “ramping”and “spinning”…....
One arcane detail however is how they convinced Premier Oil to gamble an odd billion on this hoax…..
I guess we will have to wait for that answer…..

(74) Joe Bloggs
You ask...:
Where are you today you deluded sad creature? Fishing in Chubut...?
I say.....:
Jupppppp...................
Enjoying the last days of the fishing season and the “Indian Summer” ....
76 Doveoverdover (#) Apr 21st, 2013 - 05:00 pm Report abuse
@74 So I'm right but I don't know how right I am. I must be very right then.

Firstly, please, oh please, would you kindly have one of your elected representatives pass that loyal message on to HE the Governor so that he can have the Director of Finance add the debt to the accounts for 2013/14.

Secondly, you can think what you like as indeed can I. If it makes you happy to think you're in control then that's fine by me. Just don't try to take the train off the track that's been laid down by the resident UK FCO, Home Office and MOD representatives or you might find out the true extent of your self delusion.

Thirdly, of the three traditional ways of controlling the Navy I have an overwhelming preference for rum but I'd be happy to put the lash to you, you smug and rebellious colonist. I have, however no desire whatsoever to naval officer any part of you. Perhaps you will have better luck getting a good chubuting from Sr Think.
77 Conqueror (#) Apr 21st, 2013 - 05:41 pm Report abuse
@20 Those who can, do. Those that can't, talk about it. Sad little mouthy git.
@26 At last. Twinky. Admits he's a paedo. If you find him, you know what to do. Ram a bargepole up his ass and saw his dick and balls off with a rusty, blunt hacksaw blade. No telling what he'll die of. Who cares? Don't forget to give the paedo his one-inch dick back. He likes to suck it!
@39 Firstly, there is no such place as “Malvinas Isles”. Have you ever stood on “Malvinas Isles”? I mean somewhere that the inhabitants use that name? You haven't. You never will.
@56 You spent 8k on a ring? Why? Licking an inch of proud flesh isn't worth that! Did you keep it all dark? So she couldn't see the genital herpes. And how long has she been with you? A week? Two? Is she demanding compensation while she attends the clinic? It's not as though you could have made her pregnant. An inch (fully erect) isn't enough. What do you know. I am nearly eight times the “man” you think you are. Would you like to rename yourself “Shrivelled”?
@61 You have a problem. You see, WE aren't argies. WE don't desert our friends, our people. The Falkland Islanders will NEVER be alone. Just imagine the “results” for fagland. A new nuclear bomb and missile range with moving “targets”. Lovely. And not a single “human being” in sight!
@66 Not a complete headline. It should read “Goose Green 3 Para veteran hangs himself after losing everything on Rockflopper Oil Hoax.. but kills 40,000 argie war criminals first. His last words “Let me kill more.”
@75 But one must ask “What are you?” A proven liar. An apologist for genocides, murders, rapists, thieves. A small piece of shit with a big mouth. Could you ever honestly state where you reside? Could you prove it? Nothing argie is the truth. No argie has ever told the truth. But, for a male argie, there is a way. Insert argie balls into vice. Tighten. Until they are flat. Then cut them off. Nothing less is appropriate. All 42 million argie war criminals have to die.
78 Joe Bloggs (#) Apr 21st, 2013 - 05:55 pm Report abuse
76 The only thing you're right about is that we're going to pay for our defence. We're not being forced to though. You've got your hand firmly on it as you say that.

Your second paragraph just lights me up. The MOD are running things down here are they? Oh you are precious. Oh that's right; one of your characters is a retired military officer. Lots of connections no doubt hey old chap?

Third paragraph: Sticks and stones old man sticks and stones. It sounds like the only thing we have is common is a preference for rum but I suspect you'd better lay off them for the rest of the day. They've already done their job on you this afternoon. As for me I'm about to have my first for the weekend. What will it be? A Myers, a Black Seal, a Mount Gay Black, a Mount Gay original, a Bunderberg or a Lambs? Probably a Lambs tonight.

I'll be back in three weeks.
79 Doveoverdover (#) Apr 21st, 2013 - 06:19 pm Report abuse
@78 Don't rush. Take as long as you like.
80 Monkeymagic (#) Apr 21st, 2013 - 06:22 pm Report abuse
Oh dear oh dear “think”

Actually, not true at all.

Shell drilled a hole on a regional high about 1km away from the edge of the Sealion field, and penetrated no sands of Sealion age at all.

The sands they encountered were older and only about 5m thick, we're fed from a propagating delta from the North, and whilst proving maturity for expulsion of the source rock, did not, and could not say anything about the Sealion revenue.

Also, despite your bullshit, this oil was never “flowed”, it was shown on the logs and came up with the cuttings.

Comparitively, multiple sealion wells have between 30-100m net pay and had sustained flow of 9000 barrels per day from a single vertical well during an extended well test.

This has been verified by multiple independent bodies.

Your trolling is laughable and clueless on this subject. The idea that a 350-500 million barrel recoverable field is “meagre”..,is cocksucking drivel on a massive scale.

And what is funnier, they've not finished yet....just as the 1998 wells hinted where to drill..so have the 2010 wells...I bet we'll have doubled the number above before 2017 from the north basin.

It's great though, and please continue trolling, on some subjects it's difficult to disprove “opinions” however rancid, but on this subject it's easy...you have no clue what you are on about, and drivel all over the page in rabid desperation.

Quite a laugh for those of us who do know the subject.
81 briton (#) Apr 21st, 2013 - 07:39 pm Report abuse
Hang on a mo.

You pay, eye pay , he pay’s they pay,

What has it to do with Argentineans what you pay and to whom.

You are only answerable to your selves
And defiantly not argentine bloggers,

Enough said,
.
p/s
do they tell us who they pay and how much.
82 Think (#) Apr 21st, 2013 - 07:50 pm Report abuse
(76) Doveoverdover
As I read Joe Bloggs comment you/I/we are...:
“......... closer to the truth than he realises.....”
but...., a couple of lines down you/I/we...:
“......... couldn't be further from the truth.....”
What is it then?

(80) Marlonmonkey
For all ramping and spinning about Malvinas Oil …....please direct yourself to my Financial Adviser in Kent, England: Mr. DoveoverDover.

He is a Belieber too...
Thanks for your kind cooperation
El Think
83 screenname (#) Apr 21st, 2013 - 08:53 pm Report abuse
Nice to see the ventriloquist act up and running again.

To the Think half I would just point out there is an internal market for the Falklands. You should know this, as it was you that kept posting a link to the EU stating that the referendum on the Falklands status was an internal matter for the British...

Nice to see that even you admit that the Falklands oil could have no part to play in the internal market for oil in Argentina, since it is not part of Argentina. You may be catching up with reality.
84 Doveoverdover (#) Apr 21st, 2013 - 09:27 pm Report abuse
@82 Sr Think. JB is indeed an equal blend of inconstancy and inconsistency.
85 Islander1 (#) Apr 22nd, 2013 - 01:23 am Report abuse
76 Think - Welcome back, we missed you. Monkey has I think clarified who found what and where.
The proof of the Pudding will -as usual - be in the eating - come 2017, with 2-3 years more exploratory drilling complete as well as the sealion production set-up drilling etc.
I figured correct then, as to where you were! Were they rising and biting good? Our season ends likewise at April 30th.
86 Benson (#) Apr 22nd, 2013 - 08:40 am Report abuse
@82 Think
I know that a lot of insults flow on here, some harsh some more in fun, but calling someone a Belieber that's just nasty.
87 Think (#) Apr 22nd, 2013 - 05:21 pm Report abuse
First things first…...
TWIMC
SALE!

Lower prices since 2010!!!
Bottom prices for all Malvinas Oil Shares!!!
Buy yours today before prices hitrock bottom!!!

PREMIER OIL PLC
Down 1.21% today to 351.10 pennies….

ROCKHOPPER EXPLORATION PLC
Down 3.32% today to 138.50 pennies….

FALKLAND OIL AND GAS LIMITED
Down 2.75% today to 26.50 pennies….

BORDERS & SOUTHERN PETROLEUM
Down 5.26% today to 18.00 pennies….

ARGOS RESOURCES LIMITED
Down 1.49% today to 16.50 pennies….

DESIRE PETROLEUM PLC
Down 3.25% today to 14.88 pennies….

(84) Mr. McDod
Inconstancy and inconsistency indeed………
Joe Bloggs methodology resembles my second ex-wife’s to a T… (The platin blond one....... Brrrrrr…. )

(85) Islander1
1) Mr. Monkeymagic didn’t clarify a thing….. He just repeated Rockflopper’s Gological Mumbo Jumbo Mantra……
2) Of course your fishing season ends likewise ours at April 30th…….. You are in Patagonia mate ;-)

(86) Benson
Juppppppppppppppppp……..
BELIEBERS…. the lot of you!!!
Let that be a warning to all English squatters, in body or in spirit, out there…….
We, Argentinean are prepared to crawl as low as to use the ”B” word to get you lot out of the South Atlantic ;-)))
88 briton (#) Apr 22nd, 2013 - 05:56 pm Report abuse
We, Argentineans are prepared to crawl as low as to use the ”B”ug,, word

But who are your friends that low down—
Ants, worms, rats, mice, lice, aphids, beetles, nasty bacteria,
Cockroaches, millipedes, centrepieces,
Yuck-bugs
We hate bugs..lol.
Still,
Whilst the ordinary Argies are swimming with the bugs,
You can bet their leaders will be swimming in wine, caviar, and woman
mmmmmmm

.
89 Islander1 (#) Apr 22nd, 2013 - 11:07 pm Report abuse
Think- daily market prices dont matter that nmuch - are any oils rising at the moment with drops it oil prices? Things are basically quiet down this way at the moment and will remain so for some months other than some more seismic work - so would not expect prices to be strong and thus most likley to edge down.
When drilling start again 2014 and 2015 - then it will be more interesting.
Sorry you refuse to believe current accepted knowledge within the industry - time will tell as they say.
I thought as maybe a bit further north your fishing ended sooner than down this way. Too bloody windy here last weekend for any fishing - hopefully better this next weekend.
Well I will give you that we are part of the general area of “Patagonia” - as it covers from southern Chile across and out to us, and there are a lot of geographical and camp custom similarities!
Tell me one thing - curious, where is the famous/infamous Vaca Muerta? - all it ever says is Patagonia - and that stretches a long way.
90 Marcos Alejandro (#) Apr 23rd, 2013 - 04:16 am Report abuse
UrineHopper looking good :-)))
138.25 -4.75 (-3.32%)
91 Doveoverdover (#) Apr 23rd, 2013 - 10:43 am Report abuse
@89
As Sr Think's investment adviser (motto: Semper sumere diu visum) I'm happy to point you in the right direction. I'm sure he will understand my use of a US map for this purpose.
www.nytimes.com/imagepages/2011/07/05/business/05shale-map.html
92 Think (#) Apr 23rd, 2013 - 03:28 pm Report abuse
(89) Islander1

With the kind permision of my trusted Kentyan Oil Investment Adviser I would like to add that “Vaca Muerta is not a certain ” locality” but the name of a shale bassin covering about 40% of the Argentinean province of Neuquen....

The link below should be helpfull....:
americaspetrogas.com/oper_intmap.html
93 Islander1 (#) Apr 23rd, 2013 - 09:22 pm Report abuse
Many thanks to you both - I am now wiser as to where the focus all is.
Difference in maps amusing- API has us half Arg and half Foreign State !
94 Marcos Alejandro (#) Apr 24th, 2013 - 04:28 am Report abuse
Investors getting worried
“The biggest threat to developing SeaLion would be a collapse of the crude price due to a switch to shale gas”

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