MercoPress. South Atlantic News Agency
Fourth oil company confirms Falklands’ exploratory drilling early 2011
British oil exploration company Borders & Southern Petroleum (BOR) announced Thursday the launching of its exploration campaign in Falkland Islands waters at the start of next year.
The decision was taken after the AIM listed company raised 184 million US dollars. Read full article
Comments
Disclaimer & comment rulesI would recommend you try an English grammar check tool before posting but I doubt it could make any sense of that.
May 21st, 2010 - 10:07 am - Link - Report abuse 0gdr you do, as always, speak a Great Deal of Rubbish! lol
May 21st, 2010 - 10:25 am - Link - Report abuse 0twitter verb ( PERSON ) /ˈtwɪt.ər//ˈtwɪ.ɚ/ v [I]
May 21st, 2010 - 10:28 am - Link - Report abuse 0to talk quickly and nervously in a high voice, saying very little of importance or interest
That was cut and pasted from the Cambridge English Dictionary website.
May 21st, 2010 - 10:53 am - Link - Report abuse 0Hi All
May 21st, 2010 - 01:58 pm - Link - Report abuse 0I tend not to comment on laguage or grammar and would focus on the interpretive meanings.
gdr appears to be saying either 1) The Falkland Islands has no oil reserves or 2) The region that BOR is opperating in has no oil reserves. He is also indicating that speculating on this is akin to gamling.
He is right that investments in Falkland Oil exploration is a gamble. Any oil exploration is a gamble and one ca make money by buying and selling at the right time (even when there is no conclusive proof of commercial hydrocarbons). There is nothing inherantly wrong with this as it is “honest trading” (actually buying something and then selling it at a later date; unlike naked shorting which the Germans have just banned which invovles selling something before you actually own it).
If he is claiming that BOR have no confirmed commerical oil reserves then again he is theoretically correct as the South Falkland Basin is undrilled and is therfore extremely high risk. My money is with FOGL in the south basin due to their vast acreages and the farm in of BHP.
If he is claiming that the entire Falklands has no oil then he is living in cloud cookoo land. In about 8-14 days we will have a more accurate estimate of the amount of recoverable oil that RKH have in Sealion (whic they will return to at a later date to collect more data (required to sell the prospect/company onto one of the big boys).
gdr did at some point suggest that the RKH announcment was a false report by speculators to inflate the sp. f this was the case then the sp would have tanked by now and the shares would have been suspended at some point (to prevent speculative spread bets due to false information).
The North and South of the Islands are completly different systems, so don't think that because the NFB has oil (this is confirnmed so now a much lower risk investment) that the SFB will come up with the goods (I hope they do as I am in FOGL). High risk but potentially multi bagger!
Well, you know what is my wish abou this. lol
May 21st, 2010 - 05:09 pm - Link - Report abuse 0@Beef
May 21st, 2010 - 05:31 pm - Link - Report abuse 0Do you have any oil? Sure in all the region there is oil.
But how much? none knows that.
But is this oil commercially viable? Not without Argentina and perhaps even though with the help of Argentina.
So you are in a speculative game, people will buy shares thinking that the oil word automatically means $$$$.
Jaja funny way to make some money sell it with the good news mate.
But not to the Islanders you will ruin them try with some MPs in London they deserve the pinch.
saludos
NicoDin Che idiot, The Falk Lands (UK) already does business WITHOUT the Republic of Che idiots.
May 21st, 2010 - 05:36 pm - Link - Report abuse 0Jihad Jorge (another Che idiot)..your wish is not to be a Che idiot, but your wish cannot become true, because you are a Che Idiot for the rest of your life. Your wish should be actually, not to be jealous at the Islanders, but you are jealous because your nation, Republic of Che idiots, is a complete socialist failure...LAUGH.
Argentinian participation in oil production would be convienient but not neccessary. It is a fallacy to think otherwise.
May 21st, 2010 - 06:00 pm - Link - Report abuse 0“he had told me that there no any oil reserves around Malvinas”
May 21st, 2010 - 06:31 pm - Link - Report abuse 0Does he have x-ray eyes?
Satellites are used to determine promising sites for exploration - you still need to drill.
Jorge. We know that you wish for Al-Qaeda to kill people in London and you wish for a natural disaster to destroy the Ocean Guardian and it's crew. Whatever you sit at home and masturbate about is your business and there is no obligation to share this with us.
May 21st, 2010 - 06:33 pm - Link - Report abuse 0NicoDin - firstly I am no amateur investor. Rockhopper have suspended Sealion for further testing. This is clear indication that Sealion is a commerical discovery (otherwise it would have been P&Ad). In less than 2 weeks there will be an RNS giving total estimates of recoverable oil in Sealion. The seismic data gave a very conservative estimate of 150m barrels. It could be up to 450m but I will settle for something in the 200m region (if this is the case the current sp will see another very significant rise).
Shipping the raw crude to Argentina for refinement would be the obvious option and when CFK gets the boot it is likley that the new leadership will be much less jingoistic - it would benefit Argentina and don't pretend it wouldn't. However the Brent Crude price is currently and at this price $71.53 (in reality anything above $30) it is economically viable to ship the stuff to Merseyside and have it refined at Stanlow. More likley that it will end up in Brazil, Chile or Uruguay if Argentina declines.
Comment removed by the editor.
May 21st, 2010 - 07:28 pm - Link - Report abuse 0(14) gdr. I have advised you before that if you are going to try and bulls**t then at least do some research and make is remotley feasible.
May 21st, 2010 - 07:51 pm - Link - Report abuse 0Since when have satellite imagery been used to decect offshore hydrocarbons? “What do the satelites see Bill” - “sea, sea and more bloody sea”.
Satellite imagery has been used to suggest areas with potential gold deposits and onshore hydrocarbons, it is especially helpful in dangerous regions of the world (like the Democratic Republic of Congo). Had an interesting chat to a American gold miner on a KLM flight from Amsterdam to Entebbe (Uganda) in February.
If you want to see if an area of seabed has the potential to have produced recoverable hydrocarbons then, first understand the historical geology, perform some exploratory geophysics (e.g seismic methods) and CSEM. None of these involve satellites! To save yourself from embarrasment then stick to things you know about.
If there is no oil in the Falkland Islands then what on earth have Rockhopper found? Treacle, or the crap that all too regularly eminates from your keyboard?
GDR. Are you trying to backtrack or change the subject because you can't come up with a believable argument?
May 21st, 2010 - 08:36 pm - Link - Report abuse 0Like I said! If Rockhopper haven't found oil then what have they found?
Please, enlighten me!
GDR. Rockhopper have found oil. Please stop making a fool of yourself and go and read the RNSs for yourself if you wish! What do you define as an “oil discovery”. Are you in denial or partaking in the taking of illegal substances?
May 21st, 2010 - 09:17 pm - Link - Report abuse 0It is quite clear you are not an expert, so no need to admit it!
In under two weeks there will be another RNS from RKH articulating the volume of oil and in a 25 meter gross play there is likley to be a huge amount.
@Beef
May 21st, 2010 - 11:50 pm - Link - Report abuse 0“Shipping the raw crude to Argentina... it would benefit Argentina and don't pretend it wouldn't.”
I don’t pretend anything Argentina has enough oil thanks, we don’t explore much our rich soil what make you thing we will be interested to get “your oil” keep it.
Sorry but I have to bring you to earth again.
So you drill and Eureka oil there and then what? Will you put it into bottles?
Shipping to Argentina or elsewhere this can be possible but very costly and risky process. You need a oleoduct
I’m not an expert or any close but mate think with a basic logic.
You would need something like “FPSO vessels” plus “Tankers offloading”, “Injection lines”, etc plus oil tankers carries. The FPSO will cost you something like 6bn dollars alone.
Lets say 10 bn dollars to start with the whole infrastructure?
Where are you going to find that money? How long will take to made this equipment? Or you think that can be bought in IKEA with a credit car?
Ok I can hear you saying we hire it, where?
1- Forget about Brazil they will not process your oil because will split Mercosur if he does.
2- Uruguay? Oil production 900 barrel a day they don’t have any infrastructure or capacity to process oil in huge quantities. Has an operation of $63.900 a day do you think to become rich with that?
Uruguay GDP 30bn. can you imagine how little is Uruguay?
3- Chile 11.000 b/d what kind of infrastructure can you have with that?
4- Yes you will have to ship this to UK but would be very costly very costly.
60 bn barrel you believe you have if you sent to Chile for example will take 15.000 years to process your oil 11.000 x 365=4,015,000 b/year is a business turnover $285m yearly with the current price divided with shareholders, your local govt. 26% tax plus 9% and UK
Well is more profitable to be came a province of Argentina Tierra del Fuego received in a month what you will receive in a year.
I don’t get your business. Is a scam?
Nicodin. oh I suppose all the potential oil refinaries in South America are state owned are they? Last time I checked private industry is there to make a profit and refining oil shiped by a super-tanker is certainly profitable (unless the bottom falls out of oil prices) By the time this project gets to production stage in about 10-15 years I will be long gone as these small expo companies will be bought out. I doubt Shell or BP etc will have a problem with infrastructure or investing in it for that matter.
May 22nd, 2010 - 06:06 am - Link - Report abuse 0I admit that it would be better to have Argentina onside as partners and the current Argentine opposition is likley to take a different stance.
Nicodine, Brazil might process their oil..you wanna know why? It's money and they don't give a crap what Argentina says. Argentina is like Paraguay for them..they step over you..without any problems..laugh
May 22nd, 2010 - 07:23 am - Link - Report abuse 0@Beef** your -#22+#24- comments are not the answer ..
May 22nd, 2010 - 09:06 am - Link - Report abuse 0Gdr says...there would be political manipulation... why not !
asyou know Oil Industry very dirty and open to any corruptions...
NikoDin makes technical analysis of even if find a drop oil there...
think more comprehensive and strategical please .. !!!!!!!!!!!!
hey Nicholas .....
May 22nd, 2010 - 11:09 am - Link - Report abuse 0www.businessinsider.com/map-of-the-day-bp-loop-current-2010-5
BP are experts in getting oil from far fetched locations. Being the 4th largest company in the world, a lot of country's would not turn them away, simply because Argentina has a silly claim which, no-one else apart from south America even supports.
May 22nd, 2010 - 10:50 pm - Link - Report abuse 0Dream on.
@zethe
May 23rd, 2010 - 04:51 am - Link - Report abuse 0You are very funny, do you see any BP down there?
Argentina represents more than 22bn year oil turnover in upstreaming plus all the business of gas + refinery + petrochemical (monomeros, polimeros, etc).
What company in the world will risk this market for an oil may be none there and no infrastructure, knowhow, expertise, no-tubes/ pipes/ no workers, engineers, etc, etc.
And BP has a profitable business joint ventures with Argentinean corp BRIDAS I don’t see them to drop this to go fishing naked in the middle of nowhere.
http://www.bp.com/sectiongenericarticle.do?categoryId=428&contentId=2000582
NicoDin, BP exists in Argentina and operates as Pan American. They are part owners, before with Bridas, and now with the Chinese as Argentines continue to sell their childrens futures to the Asians..
May 23rd, 2010 - 11:37 am - Link - Report abuse 0gdr what does the queen having shares in BP make any difference. you do realize that she doesn't even run the united kingdom anymore, right?
May 23rd, 2010 - 12:31 pm - Link - Report abuse 0NicoDin, do you really believe that anyone actually even cares that Argentina is going to stamp her feet over this issue? No-one cares mate.
gdr, i can't think of the words to explain the extent of your stupidity.
May 23rd, 2010 - 01:56 pm - Link - Report abuse 0just, lol.
@Bubba
May 24th, 2010 - 04:17 pm - Link - Report abuse 0We are not selling “our childrens futures to the Asians” we are buying this operation gives the access to Chinese market. The 40% of 4 trillions in better than the 100% of 400bn. This is called strategy have you ever heard about it?
Regards,
@gdr. You have a friend? What sort of retard is he then?
May 24th, 2010 - 07:23 pm - Link - Report abuse 0@Beef. Please try not to encourage the Argie wankers by suggesting that they come up with believable arguments. They haven't come up with a believable argument since at least 1982 and there is little chance they will start now. However, it might be a good idea that a proportion of Falklands oil revenues should be set aside so that when a grown-up Argentine government takes power, the money will be available for people like gdr, ivo, jorge, NicoDin etc to be placed in a suitable medical facility (asylum).
If you wish to call giving a 40% stake of the national oil exploration company to a Chinese firm who have all says at every level it's operation a access to the Chinese on your head be it.
May 26th, 2010 - 12:09 am - Link - Report abuse 0But i thought the whole concept of having a stake was so you could get a piece of the market you are buying up, not for it's competitors to gain access to your market with no ability will BRIDAS start drilling in China? I don't think so, will BRIDAS be drilling in Argentina for China, very much so...
It's not strategy you moron, China offered a very compelling cash sum for a certain stake in the company and undoubtedly offered very cheap Chinese labor as well.
It wasn't so long ago that BP brought a 40% in stake in Amco, how long did it take for that brand name in the US to disappear? less than 10 years, and many others as well?
China is a harsh master....do not think that because they aren't the UK that they will come crawling to you with their knickers in their handbag, they want one thing, all your natural resources, just like south America was to the Spanish, in time as they become richer they will demand cheaper and cheaper raw materials and what will you do then when that $80 a barrel starts being demanded for $60 and that expensive Argentine workforce prone to strikes should be laid off for a reliable cheap Chinese of African workforce too poor to strike?
A country that is as powerful as China with no history of democratic development is not something that can be bargained with or be a “friend”.
To them you are nothing but milk cows to gain her more profit, they will pull you and twist you to suit their needs, from what I gather the Chinese apparently regard south Americans as some inferior form of European culture, but much worth their trouble as the continent is loaded with resources they need.
Comment removed by the editor.
May 26th, 2010 - 08:48 am - Link - Report abuse 0@Rhaurie, Rhaurie, Rhaurie
May 26th, 2010 - 10:06 am - Link - Report abuse 0American has done this to you right?
India is doing this to you right now, right? (auto-maker industries, software, etc) In 10 year you will be with a Turbant headdress on your head, mate. India accounted for 16% of all new foreign investment in UK http://news.bbc.co.uk/2/hi/business/6599693.stm China more than 6% and US 31%.
Australia is by taken by China also mining oil, etc.
And you are making a big fuss because they invest 3bn in an Argentinean on private company?
Bulgheroni is selling part of his company to supply China but not the oil, in Argentina a private company doesn’t own the oil else the provinces/estates (the people) so they need a license to extract oil.
And if they make something wrong these licenses can be revoked
The royalty paid by the companies goes to the National Estate and provinces/estates to be invested in infrastructure, education, health service, etc.
So doesn’t matter who extract the oil most of the revenues stay at home.
Total 92%, how much would get the Islander in Malvinas if they have oil?
“21% corporate tax and 9% royalties” And if the corporation is based abroad like UK? I call this a robbery to a kid. All revenues will go to British greedy bankers.
http://news.bbc.co.uk/2/hi/business/6599693.stm
“and that expensive Argentine workforce prone to strikes should be laid off for a reliable cheap Chinese of African workforce too poor to strike?”
No mate this cannot happen in Arg. we protect our people especially workers any person working in Argentina has to be under our rules, pay taxes, minimum wages fixed by their Union, family contributions, etc. Again China power ok but for you too but as you see we blocked her products and the only thing they can do is to block some from us but this is the same with US. Argentina is not a weak country mate.
China was not our invention was US & UK and like in Dr. Frankestein the monster will try to kill you.
ivo and nico, you only have to look to africa to see what inviting or selling to the chinese will do. Look at the open immigration of the chinese so far in Argentina. When I went to declare my permanent residence status in Puero Madera, they called Sun, Kim, Moon about 10 to one over all other names. All the little family markets in BsAs have gone away and the tax deferred Chinese Rat Markets have taken over. Do you see the Chinese community intergrating with the Argentines? They have displaced many of the third country nationals in the middle east, where i live and work now. The Chinese govt ships workers out by the tens of thousands and displace low wage workers like indians, pakistanis, sri lankans, etc. And these guys were really cheap to start with. Soon the huelgas and gremios will be a thing of the past, since the Chinese will not tolerate it. They tend to work outside the local norms when it comes to strikes and slowdowns. The Peruvians caught on pretty quick and have limits in place now.
May 26th, 2010 - 11:38 am - Link - Report abuse 0@Bubba
May 26th, 2010 - 05:41 pm - Link - Report abuse 0Well Bubba the Chinese really don’t bothered me at all this is a big country we are not xenophobic at least the 90% and we don’t have any ethnic or religion issue here. Even Jewish and Muslim have business in the same street and are friends. Why some Chinese would disturb me?
So one thing is the people coming and working here that are welcome and another criminals or mafia or domination from a foreigner country.
That the Chinese don’t pay taxes here is note the rule, the rule is that anyone that can ovoid to pay taxes do it Specially the most whites with European accent like in any other part of the world. Including Britain and US I know some cases. haha
I have a friend that her mother is Asian and her father Polish and she doesn’t look Asian at all she look like any white European. What I try to say is that when people are not margined or excluded and helped in the end integrates into any society.
Well nothing is perfect and some small incidents have occurred but most of then for business interest and that kind of staff from other communities Argentina have absorbed more than 5m immigrants from the 90.
”Soon the huelgas and gremios will be a thing of the past, since the Chinese will not tolerate it”
No way mate
“Investigations within Korean-Argentine textile factories and stores have shown that illegal workers from Bolivia were employed in these places. Because of this, many Korean-Argentines feel that their community has been unfairly targeted due to their economic success”
They wanted to make something no good with the Bolivian and the Union and the govt. came to rescue here the unions are very powerful like in France for such kind of things.
http://en.wikipedia.org/wiki/Asian_Argentine
Japanese Garden at Buenos Aires (Jardín Japonés) nice to see it
http://en.wikipedia.org/wiki/Asian_Argentine
Regards,
Agent0060, stop talking crap man!!!! and take the medicine ivo has recomended to your pathetic partner!!!!
May 26th, 2010 - 11:03 pm - Link - Report abuse 0ah and stop posting crap comments in “the guardian” with the same stupid nickname!!!!!
Ah jorgy boy ... the great debater :-)
May 27th, 2010 - 06:46 am - Link - Report abuse 0Comment removed by the editor.
May 27th, 2010 - 07:39 am - Link - Report abuse 0Commenting for this story is now closed.
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