MercoPress. South Atlantic News Agency
Penguin News Update.
Headlines:
Desire aspires to summer drilling; Face-lift for historic Store;
Briefly: Reaction to illex closure; A royal wedding gift; HM's birthday holiday; Astor is final cruiser; Summer time Ends; Apology.
Face-lift for historic Store
One of the Falklands' oldest buildings, the Old Central Store in Stanley's dockyard, is having a makeover. Built in 1843/44, the Old Central Store is believed to be the oldest surviving wooden building in the whole of southern South America. Story on page 5.
Desire aspires to summer drilling Oil Company Desire Petroleum plc hopes to start exploratory drilling in the Falklands next summer, possibly as early as December 2005.
That's according to the company's Chairman, Dr Colin Phipps, who is visiting the Islands this week with Desire's Chief Executive Officer, Mr Ian Duncan.
Speaking to Penguin Newson Wednesday, Dr Phipps said the £25 million raised by Desire earlier this year allows the company enough money, "...to drill three wells at current costs."
The wells will test the three principal targets identified through a 3D seismic survey and Dr Phipps says the company is feeling confident: "I can't tell you if there's going to be oil but certainly we're a lot nearer to it."
Dr Phipps says Desire could be drilling as early as December 2005, however this depends on a number of factors; first and foremost, the company needs to secure the use of a rig - "that's the crucial bit."
He says tenders have been sent out and, "...we're talking to a number of drilling contractors about rig availability."
In addition, the company needs to fulfil a number of obligations including environmental studies and Health and Safety Executive requirements, a process he says, "...with a fair wind, we can do in about six months.
"The earliest we can drill from now is in the late spring, but it is much more likely to be mid-summer."
Dr Phipps says each of the three wells is on "a very large prospect" and if one is successful, "...it will make a very big difference to the Falkland Islands."
Accompanying Dr Phipps and Mr Duncan on this visit is Mr Bob Lyons of Peak Well Management, the company appointed by Desire to carry out well design and drilling project management.
This will involve detailed well and test design, contracting for all services and execution of the drilling programme, including materials and logistics.
Mr Lyons is here this week to see what resources can be found locally: "We want to use as many local facilities as possible. Primarily what we will be looking to draw upon locally is logistical support." Shore-based activity? Should sufficient oil be found for development, Dr Phipps says the process will then enter into a period of "...pretty deep discussions with the Councillors, Governor and, indeed, everyone on the Islands as to what they want to happen. In the end it's your choice."
He added, "There will obviously need to be some infrastructure here, there will have to be supplies and so forth, and, given Argentina's attitude, it's going to be essential that there is some here.
"But the extent to which it will change the Islands is a matter for you rather than for us."
Dr Phipps is complimentary of the work of Director of Mineral Resources, Phyl Rendell, and Dr Phil Richards of the British Geological Survey who he says have, "really represented the interests of Islanders." - Desire holds a 100% interest in 3,650 km2 in the North Falkland Basin. These interests are in Tranches C,D,I and L.
Desire also holds a 12.5% interest in Tranche F, operated by Talisman Energy. Six wells were drilled in this basin in 1998. Five recorded oil or oil and gas shows.
In February, Rockhopper Exploration announced it had signed an agreement with Desire to farm-in to the three wells to be drilled by Desire in Tranches C and D. Briefly
A royal wedding gift A GIFT from Falkland Islanders has been delivered to the home of His Royal Highness The Prince of Wales and his new wife, the Duchess of Cornwall. Falklands representative in the United Kingdom, Miss Sukey Cameron, delivered a copy of a large book of Falkland photos by Swiss photographers Andreas Butz, Lars Boni and Paul Hugentodler to Clarence House on Wednesday.
THE birthday of Her Majesty the Queen will be marked by a public holiday on Thursday, April 21. A parade will be held in honour of the occasion, beginning at 10.30am at Victory Green, Stanley. Penguin News will be published, as usual, on Friday.
Astor is final cruiser THE final cruise ship of the season visits the Islands this weekend. Astor will be calling at West Point Island today and at Stanley tomorrow. She will be carrying approximately 475 passengers.
Summer time Ends SUMMER time ends this weekend. Clocks will be put back one hour, reverting to local mean time, at 2am on Sunday, April 17.
Apology Penguin News wishes to apologise to the staff and management of International Tours and Travel Ltd for any distress which may have been caused by an advertisement published last week on behalf of Shervill Smith. The advertisement should never have been published and we deeply regret any damage that may have been caused to International Tours and Travel Ltd's reputation as a consequence. As a result of this incident Penguin Newsis re-examining its policy with regard to wording used not only in the paper's editorial content but also in advertising.
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