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Falkland Oil & Gas confirms Italian/French partner for drilling in South Atlantic

Wednesday, June 27th 2012 - 16:04 UTC
Full article 51 comments

London AIM listed Falkland Oil & Gas (FOGL) said Italian utility Edison International Spa was its new partner, bringing in a large, non-British company to help it look for hydrocarbons in the Falkland Islands. Read full article

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  • War Monkey

    You're joking? That means? Oh no! They will be prosecuted by the Malvinistas!

    Jun 27th, 2012 - 04:21 pm - Link - Report abuse 0
  • Think

    TWIMC

    And how did “Mr. Market” react to this wonderfull news?

    FOGL shares went up a whole penny yesterday......
    But the euphoria was shortlived :-(
    FOGL shares went down a whole penny today......

    Chuckle chuckle©

    Jun 27th, 2012 - 04:42 pm - Link - Report abuse 0
  • cLOHO

    3 ... It's just the next step in FI pumping that black gold. What's negative in Edf financing the next stage of development.?????? What's the problem???? What's your point?? Apart from stating share prices can't see how that effects the facts that we will soon be pumping oil baby. And rgs look on crying, when are rgs going to sue edf????

    Jun 27th, 2012 - 04:46 pm - Link - Report abuse 0
  • Monkeymagic

    Think

    You said it wouldn't happen though..you said “computer says no”.

    wrong again Think....a major now involved.

    The reason why the Market didn't react is because they never saw the risk of it not happening. only you saw that risk...and you were wrong.

    Jun 27th, 2012 - 04:52 pm - Link - Report abuse 0
  • Think

    (4) Monkeymagic

    Let me refresh your memory…:

    http://en.mercopress.com/2012/05/11/indian-leading-oil-company-in-talks-to-buy-25-stake-in-falklands-exploration-block
    28 Think
    TWIMC
    “Our people” have already called “their people” yesterday.........
    “Their people” told “our people” that the answer to the Brits is clear....:
    Computer says nooo....
    www.youtube.com/watch?v=WOdjCb4LwQY”

    How Turnipy can you be?
    Computer said no about FOGL farm out with the Indian OVL Group…
    Computer is always right.
    Chuckle chuckle©

    Jun 27th, 2012 - 05:05 pm - Link - Report abuse 0
  • Joe Bloggs

    Another good news story in the ever-improving Falklands economic and cultural situation.

    Jun 27th, 2012 - 05:21 pm - Link - Report abuse 0
  • Yomp to victory

    A company with 85% French state ownership invests in Falklands Oil options. God bless the frogs and there goes Argentina's only remote chance of ever winning the PR battle in Europe ;)

    Jun 27th, 2012 - 05:27 pm - Link - Report abuse 0
  • Monkeymagic

    Think

    Obviously not as turnipy as you

    http://en.mercopress.com/2012/06/04/argentina-declares-falklands-oil-activities-illegal-and-clandestine-and-anticipates-criminal-and-civil-actions

    You seemed VERY sceptical that a deal had been signed by FOGL...and you were completely wrong.

    Not quite as wrong as when you said RKH drilled in exactly the same spot as Shell in 1998. that was one of my favourites examples of your incompetence.

    Keep them coming....

    Jun 27th, 2012 - 05:31 pm - Link - Report abuse 0
  • Pete Bog

    @5 So?
    When are Argentina going to take all these oil companies to court then?

    If Nestor hadn't have walked out of the talks on cooperation, Argentina would have had a share in the oil regardless off who holds the Falklands.

    The Argentine share of Falklands oil because of that decision by Argentina=0%.

    Which means the Falkland Islands are going to get richer.

    Falkland Islands.
    Limited resources + good government/management= a wealthy country per head of population.

    Argentina.
    Extremely massive and well resourced country + peronists= Failing, ferked up economy.

    Jun 27th, 2012 - 05:41 pm - Link - Report abuse 0
  • Beef

    Think - Edison were always the farm-in partner. Like said we already had the agreement so the farm-in was priced in. This is a good farm-in as there is the potential of massive upside in what is a politically stable territory.

    Jun 27th, 2012 - 06:04 pm - Link - Report abuse 0
  • briton

    Amazing how these indocronoughts quickly forget,

    There glorious empress has promised them prosecutions , court orders,

    We just cant wait to see court bailiffs arresting them.

    Come on, don’t be shy .

    .

    Jun 27th, 2012 - 06:15 pm - Link - Report abuse 0
  • Beef

    She will need to sue the French gvt in this case.

    Jun 27th, 2012 - 06:27 pm - Link - Report abuse 0
  • briton

    And we all know what the frech will tell CFK to do, with her plastic .

    Jun 27th, 2012 - 06:38 pm - Link - Report abuse 0
  • Brit Bob

    @5

    Yes, when and where is all of this court action going to take place?

    As you should be aware, the Falkland Islands are legally British as the Argentine Government of the day did sign that treaty in 1850.

    Everything else is hot air.

    Jun 27th, 2012 - 06:59 pm - Link - Report abuse 0
  • Zethee

    Someone else on this thread must remember as far back as when think was claiming that there was no oil.

    I recall a comment: NO OIL NO OIL NO OIL, ect.

    Then it moved on to “The oil will never be economically viable”

    Now it's his predictions on what company's will get involved.

    Jun 27th, 2012 - 07:07 pm - Link - Report abuse 0
  • Self Determination

    Formidable, sacre blue , courtesy visit by their aircraft carrier to oversee their interests in the South Atlantic.
    Anglo French joint military exercise 2014 “Operation Pile Removal”.

    Jun 27th, 2012 - 07:14 pm - Link - Report abuse 0
  • briton

    we bet he has already bought shares , in the oil,
    that does not exist .

    Jun 27th, 2012 - 07:37 pm - Link - Report abuse 0
  • Doveoverdover

    A word in defence of Think. He's only doing his job. It's not his fault his parents settled in Argentina after that unfortunate misunderstanding during the German occupation. It's just bad luck he's found himself old but not entirely without friends in the wrong country at the wrong time and on the wrong end of reality. If only his forebears had won at both Stamford Bridge and Battle he might even have been fortunate enough to be a British Turnip. Still, being urbane and educated as he clearly is, I don't doubt he is one of the few among us gifted enough to take his sophistic trade to the French and Italian language comment pages. With a whole new set of identities he'll be able to ask for an inflation busting pay rise too and leave us Turnips to our own devices. Win Win.

    Jun 27th, 2012 - 07:41 pm - Link - Report abuse 0
  • Think

    (18) Cmd McDod

    But my forebears did win at Stamford Bridge...........................
    It was a skirmish between Viking brothers, remember?

    “Fortunate enough to be British” you say?
    Why would anyone feel fortunate to be second class?

    Jun 27th, 2012 - 07:48 pm - Link - Report abuse 0
  • Doveoverdover

    @19 I try to be helpful and look where it gets me. The right historical response was that they did win both battles because the Normans were Vikings too. And being second class is better than being in steerage with you.

    Jun 27th, 2012 - 07:54 pm - Link - Report abuse 0
  • Think

    (20) Cmd McDod

    Correct; Hastings was kind of a Viking victory too.................

    Steerage suits me fine......
    Best place to find true first class people........

    Jun 27th, 2012 - 08:06 pm - Link - Report abuse 0
  • cLOHO

    19 ... Ah a Chelsea fan Think...you beat Cpfc many a time at Stanford bridge, good gate and cracking games. Glad we are not talking about real battles

    Jun 27th, 2012 - 08:08 pm - Link - Report abuse 0
  • Nightingale

    The defeat of Hardrada by the Saxons at Stamford Bridge ended scandinavain viking incurisons in England

    Jun 27th, 2012 - 08:14 pm - Link - Report abuse 0
  • PirateLove

    DRILL, DRILL , DRILL chew that b1tch up.

    so much for Argenweeners efforts, go back to oppressing your own people it works on them. suckers.

    However,Fantastic news for the Falklands people it was always going to happen,

    Jun 27th, 2012 - 08:19 pm - Link - Report abuse 0
  • cLOHO

    A cracking team must be said, John terry superb

    Jun 27th, 2012 - 08:25 pm - Link - Report abuse 0
  • Doveoverdover

    @23 Thank you, but Think and I make it a point never to be entirely accurate or truthful in our postings.
    @21 At this time of otherwise great disappointment for you, you score four runs for that late cut to the boundary of my very gentle full toss. And your weekend guest must indeed have been first class.

    Jun 27th, 2012 - 08:40 pm - Link - Report abuse 0
  • RobWilliams

    So where's all the “jajajajjaj no oil! PM Cameron scam” bullshit now?

    Jun 27th, 2012 - 08:53 pm - Link - Report abuse 0
  • Islander1

    Think, not surprising about limited share value moves as deal was done months ago- just we public did not know with whom- now we do.
    But these are not little Tiddler companies - so where stands the Argentine threats now?
    IF - and its the $60,000 one - if someone else thinks RKH figures stact up - well the wall has been breached(if there ever was one -other than in CFK,s mind) so maybe another company will now be encouraged to go in with RKH? - We will have to wait and see - the political question has been firmly answered.
    By the way- I agree - you do tend to meet a truer real person and often nicer folks in 2nd and steerage! Not that I,d ever object to a 1st ticket just so as to see how the other half live!

    Jun 27th, 2012 - 08:59 pm - Link - Report abuse 0
  • Think

    (28) Islander1

    That is precisely what Edison is .... a little mismanaged tiddler company, recently swalowed by a bigger fish.

    The ~90 million U$S farm in with FOGL is just one of its latest bad dispositions.

    That's why the market reacts as it does........
    No amount of ramping can change that fact........

    Anyhow.............., we wait patiently for BOR's duster..................

    Jun 27th, 2012 - 09:54 pm - Link - Report abuse 0
  • briton

    Little acorns .

    Jun 27th, 2012 - 10:11 pm - Link - Report abuse 0
  • Doveoverdover

    @28 It's easy to ridicule Edison and EDF at the company level but at the higher level it is a very practical example of political support for the islanders and the UK from a most unexpected quarter. Who would have put money on an Italian Company, given the close relationship of so many immigrants to Argentina, being the one to crack the dam? But even more so no one could have hoped for such support from a state controlled company of a Latin American country (France with its Department known to the Anglo-sphere as French Guyana). Duster or not, the tide has indeed turned.

    Jun 27th, 2012 - 10:18 pm - Link - Report abuse 0
  • Xect

    I love think, he's brilliant and his name is obviously meant to be ironic.

    He gets things wrong most of the time and when he posts something that turns out to be vaguely correct he posts further endless nonsense that will be without a shadow of a doubt wrong.

    Keep up the good work buddy!

    Jun 27th, 2012 - 10:49 pm - Link - Report abuse 0
  • Islander1

    Think- are you trying to say that Edison would have done this without the knowledge of EDF Board and probably others?
    I grant you you were right re the Indian escapade, and with hindsight it was maybe not a bad result to for this side either when you dig into their performances recently.
    But you do seem reluctant to accept reality when it goes our way for a change!

    Jun 28th, 2012 - 12:37 am - Link - Report abuse 0
  • Doveoverdover

    @'33 He can speak for himself but I don't think he was saying that although he has said, elsewhere, that EDF is overwhelmingly debt ridden and prone to errors of judgement.

    Whatever he says or doesn't say, I believe he knows very well that this is bad news for Argentina. The delay in naming Edison was entirely due to EDF conducting due diligence and clearing its yard arm with the new French (Socialist) government. That government is one committed to growth not austerity so it has given the go ahead to this deal; the fuel for that growth has to come from somewhere and this is a good place to start. For FOGL it's a triple endorsement of potential irrespective of short term market sentiment.

    As for his India assessment he was spot on and I told him so at the time. No one who has half an interest in the subject would have believed that an Indian state owned company would be allowed by its owners to be the first to farm-in but some posters did and were proved wrong. I hope Think remembers how he felt when vindicated then and allows the rest of us the pleasure of a similar feeling now.

    Jun 28th, 2012 - 06:36 am - Link - Report abuse 0
  • toooldtodieyoung

    2 Think

    FOGL shares went up a whole penny yesterday......
    But the euphoria was shortlived :-(
    FOGL shares went down a whole penny today......

    So we are agreed then? The threat of “Legal action” from the b*tch queen herself and all the noise coming from Argentina has made absolutely no difference whatsoever to anyone.

    There is a lesson to be learnt here although I doubt anyone in Argentina will pause long enough to learn from it.

    So go back to your Turnips Think, go back to your turnips, it's what you are good at.

    Jun 28th, 2012 - 07:31 am - Link - Report abuse 0
  • lsolde

    @19 Think,
    You are wrong about Stamford Bridge, Think.
    What else are you wrong about? Oil?

    Jun 28th, 2012 - 10:48 am - Link - Report abuse 0
  • cLOHO

    Maybe he should take up turnip farming, but imagine his small BA bedsit doesnt have much scope for that. Computer in centre of flat , stained armchair and food parcels littering the floor, its no way to live Think. :(

    Jun 28th, 2012 - 12:04 pm - Link - Report abuse 0
  • Lord Ton

    Still here Think? I've been concentrating on Facebook but my adversaries appear - diminished!

    Now I hear that you are disappointed withyour investments. But that is the naure of investments - up and down - one of life's realities:-)

    So - I believe that you were there -tell me abouth the 1970's. Tell me about condominium. Tell me about the failures. My blog site grows - feeds on information.

    Tell me about your failures :-)

    http://falklandstimeline.files.wordpress.com/2011/07/falklands-history8.pdf

    Jun 28th, 2012 - 12:45 pm - Link - Report abuse 0
  • Be serious

    Good news indeed.

    Jun 28th, 2012 - 02:52 pm - Link - Report abuse 0
  • Conor

    @ Mr Think I believe that you are just frustrated that these Islands that already have the best qualities of life both economically and socially are set to become even better and more prosperous. I mean they have a GDP (PPP) per capita of $55,000 while you Argentines have one of barely $17,400, the islanders will live well into their 80's+ while you will barely muster 75. I think that you need to accept that these little remote islands have passed all the odds, and will continue to offer a better quality of life then Argentina. So laugh and make jokes all you want, while they become a utopia and you remain in relative squander.

    Jun 28th, 2012 - 03:08 pm - Link - Report abuse 0
  • Pugol-H

    Shine on you Falkland Islands.

    Anyone bought into shale oil/gas in Argentina yet, no, never mind you can always pay the Chinese to take it away for you.

    Jun 28th, 2012 - 05:14 pm - Link - Report abuse 0
  • briton

    CFK
    Have you ever thought, or been told, but for your arrogance and childish and aggressive behaviour,
    The Falklands today would be just that , islands in the south Atlantic , and argentina the well known
    Big brother trading helping and generally looking out for them [mmm]
    But now, the British Falkland islanders are bigger better ,richer and more ambitious in structure,

    They no longer want you , or indeed need you, any more, you have turn into a giant monster that’s rude aggressive nasty threatening abusive , and a liar of everything to say, you have lost credibility and the trust of the free world, you have dragged your country down into the gutter,
    And now you are envy and jealous of a tiny tiny little islands, that are not only humiliating and embarrassing you, but they are making you, a big giant look stupid on the world stage

    We hope this make you happy,
    Because you make the world sick .
    .

    Jun 28th, 2012 - 06:24 pm - Link - Report abuse 0
  • Think

    (26) Cmd McDod
    A cricketer, of course……….
    I’m more of a croqueter myself…….

    Anyhow.............Lets have a quick look at my portafolio…..:
    BOR: Down to 58.00p - Down 6.25p - Down 9.73%

    And a quick look at your portafolio…..:
    BOR: Down to 58.00p - Down 6.25p - Down 9.73%
    RKH: Down to 244.50p - Down 4.50p - Down 1.81%
    FOGL: Down to 87.75p - Down 0.75p - Down 0.85%

    Dam bursting?

    (36) Isolde
    Do have a look at Harold Godvinson’s lineage…
    Direct descendant from free Viking Men...
    AND free Viking Women...
    No foreign subject blood in his veins…
    Not a single drop...

    (38) Mr. Lorton
    Nice to read you again, lad…
    You are becoming lazy nowadays...
    How’s the shoulder?

    Jun 28th, 2012 - 06:57 pm - Link - Report abuse 0
  • Doveoverdover

    @43 Just don't mention bloody Barclays....

    Jun 28th, 2012 - 09:10 pm - Link - Report abuse 0
  • lsolde

    @43 Think,
    We have been through this before.
    Must l refresh your memory again?
    No, l couldn't be too much bothered.
    Harold had both Scandinavian & Saxon blood.
    Don't know for sure but l would say that most of his men were Saxons.
    lf his traitorist brother hadn't got the Norwegians involved then almost certainly Harold would have won at Hastings.
    Ah, Think, like some of your ancestors,still interferring in British affairs!

    Jun 28th, 2012 - 09:32 pm - Link - Report abuse 0
  • Pete Bog

    Is CFK delaying the court actions against the oil companies because she is busy sueing her plastic surgeon after looking in a mirror?

    Jun 28th, 2012 - 10:25 pm - Link - Report abuse 0
  • Think

    (45) Cher Isolde, Cherie………….

    You say….:
    Harold had both Scandinavian & Saxon blood.
    Don't know for sure but l would say that most of his men were Saxons.

    I say…..:
    That’s exactly what I’m saying, honeybunch…..
    Harold had both Anglii = Viking & Saxon = Viking blood.
    I’m quite sure that most of his men were Anglii = Viking & Saxon = Viking.

    Is your pretty little head confused?

    Try to look at the map…. To the right of the ”Oceanus Germanicus”…..
    http://upload.wikimedia.org/wikipedia/commons/b/bb/Roman_Empire_125.png

    Can you see where the Anglii are from?
    Can you see where the Saxones are from?

    Chuckle chuckle©

    Jun 29th, 2012 - 03:24 pm - Link - Report abuse 0
  • lsolde

    Think, Dahling, at the time of Stamford Bridge(1066),the Saxons had been in England for at least 600 years.
    And had absorbed most of the local Celtic population & later Danish invasions.
    Longer than you squatters have been in Argentina.
    So although related to the Vikings, they were not the same people.
    So, no, Harold & his men were not a pagan Vikings. But Christian Saxons.
    Why are you always wrong?
    Haven't you got anyone to look after you?
    Hot cocoa & bed for you, my man.

    Jun 29th, 2012 - 10:14 pm - Link - Report abuse 0
  • Think

    (48) Cher Isolde….

    My dear,”half blood” Viking cousin……

    Our ”misunderstanding” seems to bound in your (quite common) misconceptions concerning “What” and “Who” the Vikings were………

    Learn about them and you will learn about yourself….

    Take a deep look into the mirror if you want to find your (half)Viking*…..

    *(Disregard though your short stature, that drawback is due to a Celt chromosomal remnant….. ;-)

    Jun 30th, 2012 - 04:14 am - Link - Report abuse 0
  • lsolde

    lf it makes you happy to think that Cher Think.
    By all means think it.
    Don't know where l got my height from.
    Mum & Dad & all my siblings are taller than me.
    l don't think that l'm short, l think that most people are too tall! ha.
    Just think, Think. You might be my 30th cousin!

    Jun 30th, 2012 - 08:08 am - Link - Report abuse 0
  • Think

    (50) Isolde

    We might be cousins indeed.........
    You certainly must be from the haughty branch of the Clan…..
    I’m, of course, from the humble side…...

    Jun 30th, 2012 - 11:44 am - Link - Report abuse 0

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