MercoPress. South Atlantic News Agency
Fifth company, Argos plans to drill for oil off the Falkland Islands says FT
A fifth UK company plans to drill for oil off the Falkland Islands after it raises £70m in a London stock market listing, reports the Financial Times. Argos Resources, which holds licences next to the landmark 250m-barrel Falklands’ oil discovery made by peer Rockhopper Exploration in May, hopes to achieve a £200m value on AIM. Read full article
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Disclaimer & comment rulesThis brits better look around really good for Argentine because we like our illegal aliens to work not to come in to steal from Argentina, and they better have their Argentine passports ready, it would be sad for them to be deported.
Jul 09th, 2010 - 05:52 am - Link - Report abuse 0Just as well then gasseus, that they're a British company operating in British waters ... passports shouldn't be a problem. Now you ... you'd need a passport to get into the Falkland Islands, although there's a good chance you'd be barred. I don't know whether there is a visa requirment for Argentines to visit the Falkland Islands, but if not then there should be. It would make the point!
Jul 09th, 2010 - 06:02 am - Link - Report abuse 0Comment removed by the editor.
Jul 09th, 2010 - 06:28 am - Link - Report abuse 0There aren't visa requirements for visiting Argentines ..?? Wow, that's an ommission that needs to be dealt with. I shall raise it with the relevant authority. That being the FIG of course.
Jul 09th, 2010 - 06:46 am - Link - Report abuse 0As for homosexuality, well I like a few beers with the boys ... does that count?
So you're a homophobe as well as an idiot then gassy?
Jul 09th, 2010 - 12:19 pm - Link - Report abuse 0Must be really galling to see so many companies wanting to drill around the Falkland Islands and pay for the privilege. Can they all be wrong? Not likely.
Jul 09th, 2010 - 05:35 pm - Link - Report abuse 0But for the Islanders...... Make sure there are demolition charges in case of another invasion by a certain belligerent neighbour. Best if set off remotely once enough of neighbour's people are aboard rigs.
apparently the UN has been informed, that more the argies push, the more likely the Falkland islanders will do the unthinkable ,
Jul 10th, 2010 - 09:51 pm - Link - Report abuse 0and instigate the treaty of 1701, the creation of the united kingdom,
to whom the falklanders are eligible to join,????????? now that is interesting
Thank you briton, that's the most interesting thing I've read on here for some time .... 1701 you say? I'll have a look at that.
Jul 10th, 2010 - 11:58 pm - Link - Report abuse 0Most likely change for many BOT who don't want outright independence would be to achieve Crown Dependency status like that of Jersey, Guernsey or the Isle of Man. That would conform to the requires of 1514, in which case the UN c24 would be obliged under the terms of the resolution to remove the Falklands from the list - free association with the parent state.
Jul 11th, 2010 - 11:05 am - Link - Report abuse 0you may well be correct, their are so many treaties, 1701 is not well known, but the later one that brought Scotland into the fold, despite the fact that Scotland was already united with England when Elizabeth the 1st died, James was thus king of all the uk, but back to the Falklands,
Jul 11th, 2010 - 09:54 pm - Link - Report abuse 0when the treaty was signed and united and created the united kingdom of England/ Scot/ Wales, the dates are always iffy, the politicians are always mucking things up, it was to suit the powerful , lords/landowners/crown, ectect, but the point being that any country that wish to join the union would have to give up its own independence,
obey British law, pay taxes , ect , overseas territories were special cases,
the Falklands can if they choose of their own free will vote to become British citizens, if excepted, agree to British law, British taxes, the islands would become [the county of Falkland] entitled to grants from the government, and other things the other county’s get, the union flag would be the national flag, the county of Falkland would be obliged to send two MPs, to London, and have a live link. [and most important the oil will be British, full stop]
the UN would remove the Falklands from their books, they would be instantly recognised by the world as part of the united kingdom, and any act by Argentina , or threat to shipping, would no longer be, treated as a nuisance but an act of war,, Britain would no longer need to send , or keep expensive naval ships on site, just normal patrol ships, ,, but of course this may never happen, the FalkLanders, may just rubbish this without looking into the possibility that it could be done,
that is between the experts and not people like me that wished it could happen, but only time would tell, the Falkland islanders would have to approach the UK, government and ask if in deed it is possible to join the united kingdom full integrated, [and seek independence at a later date,]
Breaking News:
Jul 12th, 2010 - 08:22 am - Link - Report abuse 0Falklands Oil and Gas Shares Down nearly 50% Today
I love Mondays!!!
http://www.stockopedia.co.uk/content/falkland-oil-and-gas-disappointed-by-dry-well-at-toroa-prospect-44627/
Hmmmmm....
Strange that MercoPress didn’t catch this story.....
I suppose that Venezuela’s Inflation is more “relevant” for us South Atlantickers ;-)
Monday and the Falklands are still British :-)
Jul 12th, 2010 - 08:58 am - Link - Report abuse 0About Oil / no Oil:
Jul 12th, 2010 - 10:51 am - Link - Report abuse 0Funny.......
This is what Islander1 wrote last week:
4 Islander1 (#)
Jul 05th, 2010
I would not be surprised if all they get from this drill is Key Information and Knowledge - to give a better idea where to drill next time - this is a totally new geoligical area to RockHopper. But a big bonus if it does show positive as well - but not a disater if not. Its on the edge of deepwater drilling as well.
http://en.mercopress.com/2010/07/05/falkland-oil-and-gas-further-update-on-toroa-f61-5-1-exploration-well-spud#comment13775
And now, today’s official story
Jul 12th 2010
“Whilst the results of the Toroa well are disappointing, it has to be remembered that this is the first well in a previously undrilled frontier basin. We believe that these results have helped to reduce some of the key risks of the plays in the deepwater areas of our licenses. In that respect the well is certainly encouraging for further exploration and we look forward to continuing our exploration programme....
www.stockopedia.co.uk/content/falkland-oil-and-gas-disappointed-by-dry-well-at-toroa-prospect-44627/
Different words but same story!
Could Islander1 be an Insider1 as well?
Or does he have a Crystal Bowl?
Most possible he just heard it in the Pub.
No Secrets there... Right mate?
Early days apparently -
Jul 12th, 2010 - 12:17 pm - Link - Report abuse 0http://ftalphaville.ft.com/blog/2010/07/12/283131/duster/
Funny how Think appears to love a duster on FOGL's first ever drill. He also has a lack of knowledge of investing or of oil drilling for that matter.
Jul 12th, 2010 - 12:26 pm - Link - Report abuse 0Am I disapointed that this was a duster? Of course, would have much prefered a seagull scorching strike. With odds of 1 in 26 the result can hardly be a suprise though.
Am I still in profit on FOGL? Yes as my average is 69.8p and the current sp is 102.25p.
Am I concerned for the future? Certainly not, considering the acearage in the SFB. Once a drillship is contracted then this will lift the SP up about 25% (based on experience).
The news has caused a lot of the IIs to transfer their holdings to RKH (my largest holding - up 1% today {a heavily de-risked option}) and DES (second largest - up 4.55% ). FOGL has always been my third out of three as I don't hold BOR. The OG will now return to the NFB where a gas discovery was made with DES and a large oil discovery made with RKH. Plenty of godd news to follow.
Is this the end for FOGL or Toroa? Certainly not, the OG was modified so it could drill to the depth required for Toroa but the drill was at a margin of the seabed that lay at the depth required for the OG to do her stuff. The rest of the Toroa prospect lies deeper and would require a drill ship (or deep water rig) to find a potential sweet spot. There is a great big positive blob on the CSEM, so something is there, but at the margins fracturing may a problem. Wireline and logging will provide the data required to determine if Toroa is worth drilling downdip and the next RNS will give some indication of what the future hold for Toroa. For FOGL the challenge is getting a deep sea rig or drill ship to look at the other prospects which are potential monsters. FOGL is still however a ultra high risk investment but with an average as low as it is I am very happy with my remaining profit and will keep these shares tucked away.
Now back to the NFB for Ernest and hopefully a well test of Sealion.
I havent a clue what you are talking about Beef,but if it is winding think
Jul 12th, 2010 - 01:08 pm - Link - Report abuse 0up thats fine by me :-)
Think here
Jul 12th, 2010 - 02:05 pm - Link - Report abuse 0Well lads.......
The moment finally arrived...
My account has been “Regulated” (Closed:-)
Too much “Foul language I suppose???
After too many years with censorship in Argentina I don’t “think” it’s funny so..... ....
Let’s see if they delete this farewell!
(Sending this from a new account just to say good bye to the “intelligent ones”)
Take care
think II so it wont belong untill we see
Jul 12th, 2010 - 09:06 pm - Link - Report abuse 0think III or think IV or think V, you get more complicated
Now that Twinky has gone..............
Jul 14th, 2010 - 10:24 am - Link - Report abuse 015 Beef. Could you explain all that in layman's language, please?
Dry well, therefore the Share price drops dramatically.
Jul 14th, 2010 - 11:05 am - Link - Report abuse 0Some took the loss and moved on to other companies in the Faklands Islands exploration group.
Others have held and seen the Co. coming back quite nicely, as there is a lot more to come from the South basin.
The wise have gone to Matad in Mongolia.
Decent hard-working people, no like some!
Everyone is waiting to put money into argos when it comes!
Everyone is waiting to put money into argos when it comes
Jul 15th, 2010 - 05:47 am - Link - Report abuse 0When it comes? I have to wait in all day,they wont give a am or pm time
Today Arg. is the first country to aproval the gay marriage in Latam, and 10th in the world. Gays Uruguayan and people from Malvinas (with their Arg Documents) can marry here too in a real develop country. If the Malvinas people want to leave their dictartopship regime (like Cuba) could make their documents in a real free socity in Ushuaia (Capital of TDF, Antarctica & South Atlantic Islands Province) . All press around the world have shown this new , except Mercopress of course.
Jul 15th, 2010 - 04:28 pm - Link - Report abuse 0more spam!
Jul 15th, 2010 - 08:24 pm - Link - Report abuse 0Commenting for this story is now closed.
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