The North Falkland basin explorer Desire Petroleum has revealed the findings of an economic assessment of the group’s stake in the Sea Lion oil discovery, based on a high level development concept and economic review by Senergy from the UK.
Goldman Sachs raised its price target on several exploration and production companies, including Falklands’ Rockhopper Exploration, and said there were opportunities for deals in some assets in the sector.
A numerous delegation from the Falkland Islands Chamber of Commerce is on its way to Scotland for a five day high-profile meeting with peers from Aberdeen and the Shetland Islands which begins next May 8.
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.