FTSE 250-listed energy explorer Premier Oil with strong interests in the Falkland Islands oil industry, launched this week a new bond, as it looks to diversify its debt away from banks.
Hedge funds have been quietly building up stakes in the oil explorers operating off the Falkland Islands betting that companies will ignore the threats made by Argentina to disrupt the activity, according to a Reuters’ piece published this week.
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.