MercoPress. South Atlantic News Agency
Falklands’ ‘FOGL and Desire Combination’ prepare to drill five wells next year
Falkland Oil & Gas is to buy a smaller Falklands-based firm to create a “combination” company with licences to search for oil both to the north and south of the Falkland Islands in the South Atlantic. FOGL said on Thursday it had agreed to buy Desire Petroleum offering 0.6 FOGL “consideration” shares for each Desire share, in a deal valuing Desire at 61 million pounds (99 million dollars). Read full article
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Disclaimer & comment rules‘We will not let a single day go by without filing some action in a court, administrative seat or international tribunal enabling us to protect the reserves which belong to the people and to the Argentine Republic,’ he said.
Oct 03rd, 2013 - 08:46 pm - Link - Report abuse 0Hector Timerman, March 2012.
It would appear its business as usual Hector. Do you fail at all things, or only most of them?
What fantastic news, combined they will drill perhaps 10 wells in the next 2 yrs.
Oct 03rd, 2013 - 09:20 pm - Link - Report abuse 0C'mon Falklands, get that oil pumping, we are getting desperate here. Ive got a bloody fracking pump going up down the road in a few weeks.
Oct 03rd, 2013 - 09:28 pm - Link - Report abuse 0i would like to know if GB will reimburse argentina for extracting unrenewable resources from its maritime platform?
Oct 03rd, 2013 - 10:55 pm - Link - Report abuse 0this isnt the 1600s and that territory is, at the very least, under dispute in international organisations.
At 4. Troneas. Firstly no. Nothing to reimburse Argentina for and secondly no. There is no dispute, we know exactly who the Falkland Islands belong to and it isn't Argentina. The closest thing we can see or hear with regards some kind of dispute is a constant whining from Buenos Aeries.
Oct 03rd, 2013 - 11:02 pm - Link - Report abuse 0Troneas - stop talking out of your arse.
Oct 03rd, 2013 - 11:09 pm - Link - Report abuse 0GB is not drilling
You do not own the continental shelf outside 200 miles of Argentina
There is no valid legal statute supporting Argentine rights to the Islands or the resources in the FI EEZ.
Don't like it then tough. You can always go to the ICJ but Argentina is too yellow bellied to.
@6. british companies are. and to whom do they pay taxes? where do they keep their money? bingo.
Oct 03rd, 2013 - 11:28 pm - Link - Report abuse 0and theoretically, yes the 200 miles is an international convention to delimit a country's area of jurisdiction of sea - but it doesn't / can't apply in all cases. its a guideline.
for instance, the malvinas are within the argentine sea, clearly shown on any geographical map. there is an obvious continuation in the geographical expression between the continent and the islands.
The companies are public listed on exchanges in the UK and US. In addition there are Italian companies with a stake. You want money from Italy as well?
Oct 03rd, 2013 - 11:43 pm - Link - Report abuse 0Britain is in the Irish Sea. Does that mean Britain belongs to Ireland. There is a continuation to Britain from France. So what?
You make no logical or legal case and neither does your government.
Take us to court if you have a spine.
@7
Oct 03rd, 2013 - 11:46 pm - Link - Report abuse 0The law is very clear here. Argentina can not claim maritime territory outside its jurisdiction.
If Argentine companies want to explore and potentially extract oil from around the Falkland islands then they simply have to apply for a licence from the Falkland Islands Government to do so. Just like the Spanish, Korean, Chinese etc do for fishing licences. As you know they apply for these in Port Stanley not Buenos Aires.
That how the adult, civilised, commercial world works. Get the picture?
Troneas - if it where in Argentine waters (which it is not), the criminal, pervasive and all encompassing incompetence of CFK's governance would ensure it never sees the light of day anyway. So Argentina isn't actually losing anything.
Oct 03rd, 2013 - 11:58 pm - Link - Report abuse 0There is lots,and I mean lots, of non-renewable resources underneath Argentina. Why worry about a tiny percentage in your neighbours plot? Unless you lack the appetite for hard-work, planning and investing that your neighbours have ? Can't help you there am afraid.
By the way, Chile, Brazil, Paraguay, Uruguay and Bolivia are 0 miles from Argentina. Are they a continuation of your geographical expression?
p.s
“”“”By the way, Chile, Brazil, Paraguay, Uruguay and Bolivia are 0 miles from Argentina. Are they a continuation of your geographical expression?“”“
Oct 04th, 2013 - 01:11 am - Link - Report abuse 0many Argentines would say ”yes“ and then cry how they were all illegally stolen by ”insert nation“.
Sadly they are taught this from day-school and upwards, until they believe it, heart & soul, and with no regard to historical facts or legal precedents.
Indeed the most accurate dictionary definition of ”Argentine“ is ”whiny transplanted European colonialists occupying large parts of South America having genocidally wiped out the indigenes“
--------------
”“”“”“”“”“”“”“””Troneas - if it where in Argentine waters (which it is not), the criminal, pervasive and all encompassing incompetence of CFK's governance would ensure it never sees the light of day anyway. So Argentina isn't actually losing anything.“”“”“”“”“””
QFT
(6) & (8) Mr. Beef
Oct 04th, 2013 - 06:07 am - Link - Report abuse 0And the immediate market reaction to yesterdays “Combination” was…:
FALKLAND OIL AND GAS LIMITED (”the BIG buyer”) shares went down 2.63%....to 27,75 pennies ….
Let’s see what “surprises” the Market brings us today…..
Well observed Twinky. What else would you expect when spending 30m and diluting ones share issue as the company is acquired?
Oct 04th, 2013 - 06:19 am - Link - Report abuse 0Nice rise on Desire though.
Let's go drilling :)
(13) Mr.Beef
Oct 04th, 2013 - 07:07 am - Link - Report abuse 0You say...:
“What else would you expect when spending 30m and diluting ones share issue as the company is acquired?”
I say...:
Well............. After hearing you and the other Falklandtriots praising the “Malvinas New Oil Province” to the skies during the past ~three years,............... I would have expected something better..... But.......
“The Market” knows best.........................., doesn't it?
@14
Oct 04th, 2013 - 08:08 am - Link - Report abuse 0Not sure what your point is. As an expert in the wildcatting business you surely know the nature of the high capex, high risk, high reward nature of such ventures and companies that pursue them.
Why should it be any different for the tiny Falkland oilies. Good to see Noble, Edison, Premier etc on board as well though.
Oil will be tapped and sold from the Falklands. How much and for how long, no one knows yet. Either way The FI gets hundreds of millions in terms of a cash boost to the economy and infrastructure.
@14
Oct 04th, 2013 - 08:58 am - Link - Report abuse 0Better get in now Think, because in 2yrs time all the oilies in FALKLANDS will be 3 or 4 times the value of today. I am going to put the above statement in my diary and come back and haunt you, in fact I might buy Argy land if you have better governance then.
TOODLE PIP OLD SPORT
@7 Troneas this silly name the Argentine sea! it is only a new invention by Argentina to try and claim the Falklands, try everything don't you, it is the atlantic ocean the name has only appeared in the last 5 to 10 years on google maps which Argentina paid to get this name put on maps, same old thing, lets try and make the place sound more Argentine, to make your stupid claim stronger. IT WILL NOT WORK!
Oct 04th, 2013 - 10:15 am - Link - Report abuse 0@4 Troneas
Oct 04th, 2013 - 11:03 am - Link - Report abuse 0Any resources found in the FI belong to the people of the FI, any revenues generated from those resources will be spent by the Govt of the FI, to develop their islands as they see fit. This is how it must be.
Have a read of the following...
'...Further, the Assembly would urge the administering Powers to take effective measures to safeguard and guarantee the inalienable rights of the peoples of the Non-Self-Governing Territories to their natural resources and to establish and maintain control over the future development of those resources. It would also request the administering Powers to take all necessary steps to protect the property rights of the peoples of those Territories...'
http://www.un.org/News/Press/docs/2002/gaspd238.doc.htm
@7 Troneas
Oct 04th, 2013 - 11:25 am - Link - Report abuse 0The licensee companies exploring in the Falkland Islands do pay licence fees and taxes in the Falklands. In fact, Premier have to sort out quite a large tax bill with the Falkland Islands Government. And when production starts corporate tax, income tax, licence fees and duty on per barrel of oil, will have to be paid to the Falkland Islands Government. Answer your question?
See the Argie Trolls are still speaking like spoilt kids. Nothing new there then.
Oct 04th, 2013 - 11:29 am - Link - Report abuse 0The Falklands as rightly stated by other folks on here is not a part of Argentina. Never was and never will be. The only reason we have this whinging lot is because Spain thought they legally acquired them from the French who had in fact them selves tried to claim when they thought the British lost interest.
Funny how for decades the Islands were ignored yet now it is one of the hottest Argentine propaganda topics in the recent times.
Reason for this is first they are still unable to accept that Falkland Islanders are still here and developing their resources (look at the upset it caused when Falkland islanders set up their fisheries ) and now the biggest jackpot they thought they were going to exploit is no longer available to them.
Falkland Islanders have came a long way since they were raped by Argentina in 1982 and do not intend to allow themselves to fall into any further traps the Argentine dictators or indeed anyone else tries to inflict upon them.
We have planned carefully and sought the right advise in prospecting for oil and now we are about to unscrew the cork that will allow millions of pounds flow into the Falkland Treasury.
If Argentina had not invaded and had not lied to the people in the period before that invasion it could have been a very different outcome. We almost succumbed to their devious plans but thankfully the Argentines had no patience and brutally invaded us. Now 31 years on there is no chance whatsoever of Falkland islanders renewing any ties with Argentina. We are quite capable of doing things for ourselves now thank you very much.
@7
Oct 04th, 2013 - 11:32 am - Link - Report abuse 0Are Argentine going to reimburse the patagonian Amerindians for the non-renewable resources they have stolen since their genocidal colonial campaign. Its not 1880 you know and the massacre of these people ate the hands of Argentina so that you could steal their land and non-renewable resource is an abhorrent crime against humanity.
So..there is your first hypocrisy.
Your second load of crap is that the British (and indeed American, french, Italian) companies drilling in the Falklands water will pay their taxes to the Falkland islands Government. So you are wrong again.
Your third load of crap, is this Argentine Sea nonsense. or malvinas basin perhaps, or South Atlantic ocean, or North Falklands basin...or falklands Plateau basin...or Magellens Basin...they are all man-made names.
The Falklands belong to the people who live there today. The fact that in 1833, 50 rapists and murderers from Argentina were evicted in their 60 day attempt to usurp the islands is kinda pathetic.
7 Troneas (#).... Nope ...nope .....nope....NO such sea as the “Arjuntine” sea...You silly thing...!!
Oct 04th, 2013 - 01:08 pm - Link - Report abuse 0@7
Oct 04th, 2013 - 03:48 pm - Link - Report abuse 0The Argentine Sea no more belongs to Argentina than the Sargasso Sea belongs to the Sargassoans, the Aegean Sea belongs to the Aegeans, the Irish Sea belongs to the Irish, or the English Channel to the English.
Under the terms of the United Nations Convention on the Law of the Sea Article 59 disputed and overlapping claims have no legal force until the dispute is resolved between the opposing parties.
http://en.wikipedia.org/wiki/Argentine_Sea
@23
Oct 04th, 2013 - 04:28 pm - Link - Report abuse 0Enough of your logic and reasoned argument.
I propose it should be re-named the Falkland Sea: hence Argentina lies within its continental shelf. Forthwith, all fishing and mineral rights (plus fees) are now the property of FIG.
@24
Oct 04th, 2013 - 04:51 pm - Link - Report abuse 0Quite so. After studying Google Earth - it is indisputably the case that not only Argentina, but also Uruguay and Brazil are located on the Falklands shelf.
@24
Oct 04th, 2013 - 05:08 pm - Link - Report abuse 0Gosh, I think you're right. Especially once the Falklands Current is taken into account. This of course is a “cold water current that flows northward along the Atlantic coast of Patagonia as far north as the mouth of the Río de la Plata.”
Obviously a current trumps a continental shelf any day, and since it's called the Falklands Current, and it flows past Argentina, then logically speaking Argentina has to be part of the Falklands. Even if it doesn't want to be and even if it isn't an island anyway. After all, it's only an implanted population in there, and we all know what rights they have.
@26
Oct 04th, 2013 - 05:49 pm - Link - Report abuse 0Yes! But then you have to make a law like this - and job done. It's legitimate : )
http://es.wikisource.org/wiki/Ley_N°_23968_de_Espacios_Mar%C3%ADtimos_argentinos
@27
Oct 04th, 2013 - 07:02 pm - Link - Report abuse 0> RÍO DE LA PLATA HASTA PUNTA DUNGENESS
Holy shit, so Kent is on their continental shelf as well. I hope we've got a proper current to fend them off with.
@28
Oct 04th, 2013 - 07:42 pm - Link - Report abuse 0LOL
well, at least the CEOs are making money
Oct 04th, 2013 - 08:19 pm - Link - Report abuse 0Especially the CEO of the Republic of Argentina!
Oct 04th, 2013 - 08:31 pm - Link - Report abuse 0Nice little earner that turned out to be for the K's.
Minimum investment Maximo return.
'ACTIVITIES OF THE EMBASSY IN CHILE ARGENTINA FALKLAND - The ambassador to Chile, Ginés González García, led by the international law professor Lucas Barreiros a series of activities to give details on the position Argentina in Malvinas Islands Question.
Oct 04th, 2013 - 08:32 pm - Link - Report abuse 0One of the meetings was organized by the Faculty of Law of the University of Chile where Barreiros spoke about the titles that justify Argentina's sovereignty over the islands and on the alleged lawlessness in the archipelago referendum organized on 10 and 11 March .
As stated through a press release, the teacher elaborated on “the repeated failure of the United Kingdom to seek a peaceful resolution of the dispute by refusing to negotiate with Argentina.”...'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
'A veteran first published children's book about the Falklands War'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
'Foreign policy: a sum of serious mistakes - When the long cycle of the Kirchner finished, much is what must be done to restore the negative image to the world we have built..'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
'Falklands Oil and Gas Limited shares fall on Desire Petroleum plc deal'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
'Rockhopper tax bill talks continue with Falkland Islands Government'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
'Falkland deal set to ramp up oil exploration'
http://noticias.terra.com.ar/politica/actividades-de-la-embajada-argentina-en-chile-por-malvinas,1adb6b45a3481410VgnCLD2000000dc6eb0aRCRD.html
@32
Oct 04th, 2013 - 08:52 pm - Link - Report abuse 0'A veteran first published children's book about the Falklands War'
www.elcivico.com/notas/2013/10/4/combatiente-publico-primer-libro-infantil-sobre-guerra-malvinas-111011.asp
Evidence of a very sick society.
#31/32 My god this is horrific, I never realised it could be this bad.
Oct 04th, 2013 - 09:04 pm - Link - Report abuse 0I truly hope this is just the efforts of one individual to exploit people's feeling to make money and that it doesn't end up in schools.
@32 Steve-33-uk just to let you know we have not got a problem, we have a peaceful resolution at the moment, the Falklands are British and we are peaceful, but i seem to remember when it became the opposite to peaceful in 1982, Argentina invaded us. So what's your problem?
Oct 04th, 2013 - 09:04 pm - Link - Report abuse 0@33 HansNiesund
Oct 04th, 2013 - 09:45 pm - Link - Report abuse 0Agreed. Personally I find brainwashing children from 2 years old quite disturbing and sick, the monster in the book appears to wearing a British flag! (check the link below to see it) The story is also troubling!
But I expect CFK has sent a copy to Ban Ki Moon and the Pope, by now.
http://www.eltribuno.info/salta/325000-Veteranos-de-guerra-presentaran-un-libro-sobre-Malvinas.note.aspx
When are these Arjuntinian monkeys gonna learn that“there is a huge difference between scratching their ass and tearing it all apart”..?
Oct 04th, 2013 - 09:56 pm - Link - Report abuse 0@23 @24
Oct 04th, 2013 - 10:19 pm - Link - Report abuse 0In the cases I can think of, when a body of water is named a 'Sea' its because theres something unique about it, usually it's partially enclosed i.e. Red Sea, Caribbean Sea, Mediterranean Sea, North Sea...
But the mythical Argentine Sea is not unique and is infact the South Atlantic Ocean!
Who knows, maybe CFK's next step is to rename the South Atlantic Ocean the Argentine Ocean. Where does it end?
@35 Falkland Islands
Read my post @18
@ 22 & 37:
Oct 05th, 2013 - 06:45 am - Link - Report abuse 0Hello Think.
@33. Indeed. It appears Argentine territorial nationalism expressed as pedagogical dogma is alive and well in Argentina in 2013
Oct 05th, 2013 - 04:33 pm - Link - Report abuse 0Carlos Escudé analysis is frighteningly accurate:
http://www.argentina-rree.com/documentos/culture_escude.htm
Sadly it appears the political indoctrination methods of Mussolini's Italy and Francoist Spain still flourish today in contemporary Argentina
@4
Oct 05th, 2013 - 06:43 pm - Link - Report abuse 0Troneas
“i would like to know if GB will reimburse argentina for extracting unrenewable resources from its maritime platform? ”
Nestor had the chance of 50% and turned down the agreement.
Argentina has never paid the Falkland Islands war reparations.
Argentina still owes the UK £millions.
Argentina has not paid to remove its landmines from the Falklands
It isn't GB that has the oil, its the Falkland Government that owns the oil.
@7 Troneas.
“@6. british companies are. and to whom do they pay taxes”
“Again, yawn, to the Falkland Islands Government.
for instance, the malvinas are within the argentine sea, clearly shown on any geographical map”
Not on ANY map as that means on EVERY map. No map I have seen except for Google map, mentions the Argentine sea-it is called the South Atlantic.
As the Falklands current runs up to the River Plate, that means by your logic, that the Falkland Islands own Argentina.
@1 Orbit
‘We will not let a single day go by”
Gollum: Well, maybe we'll let 365 or perhaps 730 days go by until we file some action in a court, but not in the one that matters, the ICJ.
Pete you say Argentina has never paid the Falkland Islands war reparations.
Oct 07th, 2013 - 12:47 pm - Link - Report abuse 0Of all the countries in the world UK should not talk of reparations.
@42
Oct 09th, 2013 - 11:03 am - Link - Report abuse 0Read very carefully, Pete said and I quote “ Argentina has never paid the Falkland Islands war reparations” Can you not read and understand English?
@42
Oct 09th, 2013 - 09:28 pm - Link - Report abuse 0Let me rephrase, Argentina has never paid the Falkland Islanders for the damage they caused to their country in 1982, ( cleaning up the shit they left in islander bedrooms and everywhere except a toilet (where most people shit)), including the cost of removing the landmines laid by Argentina. Mind you have Argentina paid reparations to the families of their own 30,000 'disappeared'?
For the avoidance of doubt, I'm not talking about reparations to the UK. the islanders have offered to pay that cost themselves if they find sufficient quantities of oil .
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