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.
A new round of Falkland Islands oil exploration began this week when London AIM listed Borders & Southern Petroleum plc announced that their first exploration well, located approximately 140 kilometres south of the Islands, was spudded on 31st January 2012.
Rockhopper Exploration Plc shares surged in London trading following a report that Texas based Anadarko Petroleum Corp. is in talks with the only company to have made a commercial oil discovery off the Falkland Islands.
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.