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Premier Oil defers project development and exploration spending into 2016

Friday, November 13th 2015 - 14:04 UTC
Full article 23 comments

The successful Falkland Islands' exploration company Premier Oil has cut full-year capital expenditure as the oil producer deferred some project development and exploration spending into 2016, it said on Thursday. Like its peers, Premier Oil has to reduce spending to cope with a halving in oil prices since a peak in June last year that has eaten into revenues. Read full article


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  • Think

    MercoPress..., our beloved independent news agency based in Uruguay says...:
    ***“Premier Oil defers project development and exploration spending into 2016”***

    The Times..., that despicable Imperial paper based in London, England says...:
    ***“Premier Oil puts Falklands oil drilling plan on hold”***

    Whom can we believe?
    Chuckle chuckle chuckle..

    Nov 13th, 2015 - 07:18 pm - Link - Report abuse 0
  • Marcos Alejandro

    The successful?

    Nov 14th, 2015 - 02:22 am - Link - Report abuse 0
  • Clyde15

    Your point being ?

    Nov 14th, 2015 - 10:42 am - Link - Report abuse 0
  • Islander1

    Think- I agree with Clyde15.
    What is your point? here in the Islands we all know- have always known - that we do not have an oil industry and income-UNTIL- it is pumping- and we have always known that such an event is dependent on world oil prices-balanced portfolios of production zones - etc - etc.
    And it is not sensible economics to develop a new field costing say $60 plus a barrel to open up and produce - when you are likely to only get $40-50 a barrel for it!
    But I appreciate such a delay may be a surprise in Argentina as they never have been very good a basic business economics there.

    Nov 14th, 2015 - 04:42 pm - Link - Report abuse 0
  • Think


    As I have been saying for the past five years...
    This Mississippi Bubble of the Engrish pirates Oil Adventure in Malvinas is slowly but surely imploding...

    No amount of window dressing will change that fact...

    Nov 14th, 2015 - 05:28 pm - Link - Report abuse 0
  • Clyde15

    As you have been saying lots of things in the last five years that are not necessarily true, it comes down to your opinion shaded by your dislike of the Falkland Islanders and will be interpreted as such.

    Nov 14th, 2015 - 05:48 pm - Link - Report abuse 0
  • golfcronie

    And pray tell us how “ PUTA MUERTE” is getting on? Have you managed to get the U$S 200 BILLION to invest yet? Argentina self sufficient in oil yet, no didn't think so.

    Nov 14th, 2015 - 07:12 pm - Link - Report abuse 0
  • GALlamosa

    #5 And you've been wrong for the last 5 years and will continue to be wrong. So sad.

    Nov 14th, 2015 - 08:32 pm - Link - Report abuse 0
  • Islander1

    Think- Can you not get it into your head:
    A commercial Oil Filed has been found and proven off the Islands.

    The timing of its development will depend on the price of oil and the cash available for investment by the companies concerned and how it all fits their
    overall worldwide portfolios.

    Unlike any Argentine area its just economics - no need to worry about politics and will it all be expropriated once set up!

    The Oil is there - and one day it will be developed.
    Maybe 2016-2017 start - maybe 2108-2019-2020- who knows - I dont and neither do you.

    Nov 14th, 2015 - 10:25 pm - Link - Report abuse 0
  • Think

    Islander1- Can you not get it into your head:
    A “Commercial” Oil Field, has been said, by them Engrish Pirates, to be found and proven off them Islands.

    It was declared ”Commercial by them Oil Pirates under two (2) premises...:
    1) Recoverable reserves of 450.0,000,000 million barrels of oil...
    2) A minimum oil price of 85 U$D per barrel...
    As we both know, Sealion's recoverable reserves have been degraded by them very Engrish Oil Pirates to be about 250,000,000 million barrels and the price of oil is today about 40 U$D....; SUSPICIOUSLY CLOSE TO THE LAST 60 YEARS AVERAGE OIL PRICE OF 38 U$D PER BARREL...

    ”No need to worry about politics, you say?
    Chuckle chuckle I say...

    The non commercial oil is certainly there - and it won't be developed...
    Not today, not tomorrow, no never...

    Have a nice weekend
    El Think

    Nov 14th, 2015 - 11:03 pm - Link - Report abuse 0
  • Troy Tempest

    @10 ThinksVoice

    Jealous nay-saying... !!

    What's to say the political situation won't change... and oil skyrockets in value???!!

    Of course, that's not likely to happen. Not unless perhaps nations were to start jealously guarding their resources, or perhaps some sort of trouble in the Middle East.

    Naw, never....

    Miserable Troll...

    Nov 15th, 2015 - 04:33 am - Link - Report abuse 0
  • Islander1

    Think- do grow up a bit and learn to spell - you are like a little spoilt child at times. I make typo errors at times but am not childish..

    Nov 15th, 2015 - 10:34 am - Link - Report abuse 0
  • Pete Bog


    “This Mississippi Bubble of the Engrish pirates Oil Adventure in Malvinas is slowly but surely imploding...”

    Oh dear.
    And yet the Falkland Islands stills runs at a surplus, still has loads of peat reserves, massive Kelp reserves (the future=biofuel) and only produces 40% (and increasing) of its power requirements from wind energy (blown very kindly from the West, thank you Argentina!).

    What a disaster!

    Nov 15th, 2015 - 01:46 pm - Link - Report abuse 0
  • kelperabout

    Think is still acting like the lost son Argentina's and will never change his hatred for the Islanders. Is this because he is someone who had a very bad experience on the Islands or is it because he has never been able to get what he wants in life. Sometimes Think you have to go out and work really hard to get what you want in life not sit around all day sending rubbish comments into cyberspace. We certainly have vast quantities of oil around our shores we know Argentina wants it , always has known it was there from their years of exploration in the late sixties early seventies. Unfortunately Argentina will never enjoy the riches around our islands because the only real chance you ever had to do that went out the window when your Country attacked us in 1982. That was the biggest single political mistake Argentina ever made towards the Falklands and we Islanders now will never truly trust you again ever. We will always look to Great Britain for our security until that day comes when we have the resources to fully defend ourselves from aggression.

    Nov 15th, 2015 - 02:28 pm - Link - Report abuse 0
  • gordo1

    Marquitos Alejandrito

    Nene - don't you understand what “successful” means? Look it up in the dictionary! Boludo!

    Nov 16th, 2015 - 11:26 am - Link - Report abuse 0
  • Think


    Rockflopper Exploitation down today with 5.41% to 35 pennies...
    Falkland Oil? & Gaaaaas down today with 2.44% to 10 pennies...
    B&S (Bullllllllll &Shiat) down today with 0.75% to 1.98 pennies...
    Arghhhhos Resources down today with 13.79% to 6.25 pennies...

    Imploding it is, indeed, that South Atlantic Pirate Mississippi Bubble...
    Chuckle chuckle

    Nov 16th, 2015 - 07:21 pm - Link - Report abuse 0
  • argfellow

    @7 golfcronie “Have you managed to get the U$S 200 BILLION to invest yet?”

    We´re not excessively worried on that account. Three new nucleoelectric power plants (close to the 1.000 MW level each one) plus three additional hydroelectric dams in Patagonia already contracted with China and Russia, apart from the slow, but steady increase in wind power, become a sound energetical option for the time being.

    Nov 17th, 2015 - 12:39 am - Link - Report abuse 0
  • GALlamosa

    It must be a sad life for the nihilists to watch as the Falkland Islands continues to progress from small colonial backwater to successful self governing territory with massive future prospects. If Premier decide not to invest at 45p per barrel, it doesn't matter. The oil is still there, and one day someone will develop it. And the Falklands will continue to prosper.

    So go suck your thumb, sad and negative creature. We will continue to seek the positive and develop our country despite your worst efforts.

    Nov 17th, 2015 - 10:51 am - Link - Report abuse 0
  • Pete Bog

    “Imploding it is, indeed,”

    Really? Have FIG stopped sending (and paying all the costs of students) to universities in the UK?

    The FIG also fully funds it's Defence Force.

    Argentina cannot even afford Kfirs without weapons and radar.

    Time for Spain to take over again?

    Oh I almost forgot, Spain need to bum money off the EU to keep them afloat.......

    When has FIG not run at a surplus?

    Are the services provided by the FIG (that's most of them) crumbling?

    Nov 18th, 2015 - 12:33 pm - Link - Report abuse 0
  • Benson

    Does Think believe that if the oil isn't extracted in the next couple of years the Falklands will sink below the waves or something. If oil is extracted we will have a massive surplus instead of a decent surplus and if it isn't things will just carry on the way they are (until the oil does become economically viable). I get the impression that Argentina cares a lot more about the oil than we do.

    Nov 18th, 2015 - 01:12 pm - Link - Report abuse 0
  • Think

    (20) My dear Watson Jr....

    Nope, I don't Think the Malvinas will “sink below the waves or something” when this Mississippi Bubble Engrish pirates Oil Adventure implodes...
    But I Think that, as it happened with the original Mississippi bubble in the Mexican Gulf, such implosion will keep investors away from the South Atlantic for a loooong time...

    Surely something that will fit Watson Sr. ;-)

    Nov 18th, 2015 - 11:13 pm - Link - Report abuse 0
  • Troy Tempest

    21 think/voice

    so, you were just making snide comments and insinuations without substance, as usual.

    Nov 19th, 2015 - 01:17 am - Link - Report abuse 0
  • yankeeboy

    What I find hilarious is that Think is worried about private oil exploration while in Narcotina the PUBLIC money they used to “buy” YPF is over 1/2 gone.
    Yep Billions of the Rg retirement “investment” gone
    and just wait to see what happens when the new gov't finds out they can't afford to pay U$70+/bbl for something worth +/- U$30+/bbl.

    Think/Voice/Marcos is as dumb as he ever has been...

    Nov 20th, 2015 - 07:58 pm - Link - Report abuse 0

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