UK based oil firm Borders & Southern pushed back the time frame for initial results from an exploration campaign offshore the Falkland Islands after a deep water well experienced technical issues.
Falklands’ oil explorer Desire Petroleum Plc (AIM:DES) will be making presentations this week at the North American Prospect Expo (NAPE) in Houston.
A leading UK market and investment analyst, Edison Investment Research looks at the prospects of the Falkland Islands oil industry and suggests the industry could be worth 180 billion dollars in royalties and taxes.
Falklands’ oil industry sources said the round of oil exploration began in 2010 with the “Ocean Guardian” rig and just concluded, involving Rockhopper Exploration and Desire Petroleum, was “hugely successful” with several major oil and gas discoveries.
Falklands oil industry sources confirmed that the semi-submersible Leiv Eiriksson oil exploration rig has reached Falklands’ waters and should be spudding its first well next Monday.
Rockhopper Exploration Plc climbed to an 11-month high in London trading after a report that Cairn Energy Plc is in talks with the only company to have made a potentially commercial oil find near the Falkland Islands.
Rockhopper Exploration which recently discovered oil and gas in Falkland Islands waters has appointed Bank of America Merrill Lynch to lead the process of finding a partner for its 2 billion dollars oil project in the North Falkland basin, reports the London media.
UK-based Falkland Oil and Gas (FOGL) announced on Friday it has raised £48.5m (74.3m dollars) through a placing of new ordinary shares to fund drilling of exploration wells in Falkland Islands while it continues active discussions with potential partners for a farm-out.
Rockhopper Exploration, the oil and gas group working in the Falkland Islands announced on Friday it has completed coring and logging operations on a sidetrack of its latest well in the North Falkland Basin
Rockhopper Exploration PLC reported a “fantastic result” as its third discovery in the North Falkland basin encountered oil and-or wet gas in four hydrocarbon-bearing target zones, said the company on a Tuesday release in London.