MercoPress. South Atlantic News Agency
YPF tempting global oil industry heavyweights with ‘Vaca Muerta’ shale formation
Exxon-Mobil Corp. and Apache Corp. will hold talks with Argentina's YPF next month to discuss further investments in the country's Vaca Muerta shale formation, said a YPF official briefed on the matter. Read full article
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Disclaimer & comment rules“Vaca Muerta is often considered to have “the greatest potential as an oil shale outside of North America” Roger Plank, chief corporate officer at Apache, said at an August 15 energy conference”
Aug 31st, 2012 - 04:45 am - Link - Report abuse 0Great news! and how is the oil exploitation doing in Malvinas?
Lest ask a British investor...
“Is it worth Investing in the Falklands”
“Makes me wonder if its a waste of time investing in the Falklands. The Formula works out for shares in the Falklands so far as follows.
Company :- fails to find oil loses 90% of share price
Company :- Finds oil share price increase 100% then drops some 50% over time. finds more oil recovers 30% manages to get a farm in partner, price drops 50% and keeps droping.
This is a good way to lose money at this rate Falklands will be pumping oil at a loss to its share holders. A company with oil in the ground should be like money in a Swiss bank account, yet Rockhopper is losing its value at over 2% a day. It will be taken over for peanuts at this rate. I can see it go down to £1.25p by the end of the year. If FOGL finds oil it may recover a touch, heaven help RKH if it doesn't ”
Today the daily drop RKH171.25 -3.50 (-2%)
1 Mike
Aug 31st, 2012 - 04:53 am - Link - Report abuse 0LOL! That's right. Nothing to see down here folks. We're in a mess and Argentina is going great guns. Move on folks, nothing to see!
Chuckle chuckle.
You deadbeats (I know you're reading this Think) can talk down our oil prospects all you like but it won't change what is already in the ground waiting to come out. Good or bad.
Let's wait and see shall we?
Chuckle chuckle.
2 Joe Bloggs
Aug 31st, 2012 - 05:24 am - Link - Report abuse 0Mike?
The best way to convince a fool that he is wrong is to let him have his own way.
Chuckle chuckle™
Almost any other nation with such good oil deposits would have foreign oil companies falling over each other to get involved. Why does Aregentina need to schmooze them to even get them to consider it?
Aug 31st, 2012 - 07:02 am - Link - Report abuse 0Read the report on 'The First Hundred Days' given by Galuccio and printed in Clarin.
Aug 31st, 2012 - 11:41 am - Link - Report abuse 0Basically they have got to fund an investment themselves as nobody else has shelled out any money!
To do this will mean putting up petrol and derv prices by 14% 'over a period of time'.
I wonder if TMBOA has sanctioned these rises, and if so, how much share will she get out of it?
With regards to the fracking, I just cannot see how any foreign company is likely to make money with all the tax lamped on everything by TMBOA and her gang of robbers. And why run the risk of having all your assets taken?
invest in vaca muerta is also very tempting!!!god news for us!!
Aug 31st, 2012 - 12:09 pm - Link - Report abuse 0Galuccio will not stay too long. He will soon get fed-up with the mess in Argenetina, pack up his 2 million dollars he got up front, and move on to greener pastures.
Aug 31st, 2012 - 01:07 pm - Link - Report abuse 0All the companies are already in argentina and are humoring the RG's. Nothing ever com,es of the talks.
Aug 31st, 2012 - 01:10 pm - Link - Report abuse 0Or look at investing MULTI BILLIONS of U$ in Argentina only to have it stolen once you make a major find...Hmmm I will take the Falklands investments any day.
Aug 31st, 2012 - 01:57 pm - Link - Report abuse 0BTW talking is not doing...
I bet this goes the way of the bullet train to Rosario talk talk talk then Nothing.
The test of this is whether they get the investment or not.
Aug 31st, 2012 - 03:19 pm - Link - Report abuse 0The rest is speculation.
If they can’t get it here or anywhere else, most unlikely they can do it for themselves.
The Falkland wells will be dry before they see a cubic metre of gas or barrel of oil from dead cow.
Never mind they could always pay the Chinese to take it away for them.
Do it themselves.....impossible. With what.....a current ratio of .65 and LTD expanding 188% this year alone and over 7 billion in deferred debt, and 0 retained earnings? You think 1.4 billion in cash will do it? What happens to payroll? They have yet to file a 2012 10Q
Aug 31st, 2012 - 03:47 pm - Link - Report abuse 0GREAT NEWS. They will come around. It is a matter of time. Too tempting and the only way to get it is through sitting down at a table and reach an agreement with it's owners, the Argentine people. An example to the English on how matters are settled.
Aug 31st, 2012 - 09:54 pm - Link - Report abuse 0Otherwise, Argentina will do it on its own. It has done it before, it can do it now, and will do so in the future as well.
GOOD FORTUNES ARGENTINA!!!
If I can’t get [the funds], I’ll go back toEngland,” said Galuccio when asked whether he believed he would be able to realize the project.
Aug 31st, 2012 - 11:15 pm - Link - Report abuse 0This was announced along with his 100 day plan, be intresting to see how this plays out.
Read there financials, they can barely make payroll. When American creditors call their notes over ownership changes, they are in default. Go back your you make believe navy on your make believe ship.
Sep 01st, 2012 - 12:15 am - Link - Report abuse 0ANd when will they ever file they 10Q's?
@13
Sep 01st, 2012 - 11:14 am - Link - Report abuse 0Mmmm. Don't know what he will do in England as Slumberger(sic) most likely will not take him back.
Even oil services companies draw the line at failure and especially at poor judgement, so either way he'll be screwed.
Great news, you found oil. Now how you going to get it out of the ground, how you going to pipe it, how you going to process it and how you going to ship it? Not in UK flagged tankers, thats for fucking sure! Sounds to me like your going to need a lot of money? yes? but you do not have it, do you? Never mind you can always borrow it. Oh sorry you cant, cause nobody now is fucking daft enough to think you will ever pay it back!!! Welcome to the shithole you dug yourself into!
Sep 01st, 2012 - 09:24 pm - Link - Report abuse 016 - You are correct. Maybe the next generation will see “something” come out of this, but not in the lifetime of the present generation.
Sep 02nd, 2012 - 12:00 am - Link - Report abuse 0#12 Great comment, not much more to add to that =)
Sep 04th, 2012 - 12:38 am - Link - Report abuse 0Commenting for this story is now closed.
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