Rockhopper Exploration which struck oil at its North Falkland basin Sea Lion exploratory well in May 2010 has received formal agreement from the Falkland Islands Government to the farm-out agreement reached with Premier Oil.
The AIM traded company Desire Petroleum said on Thursday it will seek industry partners to participate in the further exploration of the North Falkland basin based on the quality of its maturing prospect inventory.
Interview with Sam Logan (*) Angering Spain by seizing and nationalizing a majority of Repsol's shares in YPF and ramping up the rhetoric over the Falkland Islands as exploration deals promise to make the territory a major oil player overnight, Argentina is making few friends in the fossil fuels industry these days.
Britain's Premier Oil which reached a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands took advice from the Foreign Office before closing the deal, according to UK media.
Argentina will take legal actions against Britain's Premier Oil after the company agreed to invest 1 billion dollars to help develop an oil field off the disputed Falkland Islands, Argentina's Foreign Ministry said on Monday.
Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.
London’ AIM quoted international services group Falkland Islands Holdings has raised eight million pounds following a subscription for shares by Blackfish Capital, an investment fund, reported the company in a release.
The Falkland Islands Director of Minerals Stephen Luxton said that estimates published last week in the UK, of revenue of 180 billion dollars for the Falklands Government from oil production are only a “best case” scenario since in spite of great potential, the only true test is the drill bit.
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.