Rockhopper optimism on Falklands oil development

Rockhopper optimism on Falklands oil development

www.bbc.co.uk

A British company searching for oil off the Falkland Islands in the South Atlantic says it has made further significant finds.

The company, Rockhopper Exploration, said it expected to start pumping oil by 2016.

It said it would need $2bn (£1.3bn) to develop the field.

The search for oil off the Falklands has angered Argentina, which claims sovereignty over the islands it calls Las Malvinas.

On Wednesday Rockhopper said it had found further oil in its Sea Lion prospect.

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Could this be the next flashpoint for UK Forces?

It might be time to get HMS Ark Royal back out of mothballs.

If the Government had any sense, it would form a National Oil Company, stump up the £2 billion and reap the rewards to help out our economy.

Whats the betting that the Argentinian President starts spouting off some jingoistic remarks.

To our American friends - ''Any chance we could borrow one of your Carriers''?

www.bbc.co.uk
(visit the link for the full news article)

It was only a matter of time until we had to go back down there and give the Argies another well deserved shoeing!

Will any of this find bring the UK cheaper fuel prices, probably not, it's the other side of the world

It’s all early days, but Argentina has been keen to keep the Falkland’s issue alive by adding the acquisition of the Islands (and beyond) to their constitution. The UK Government’s position is that if the Falkland Islanders want to remain British then there is no point in talking about sovereignty. Argentina has filed claims for all sorts of rights in the South Atlantic, all of which are countered or rebuffed by Her Majesty’s Government.

Argentina may cut off their nose to spite their face with this issue. If oil is found in significant commercially extractable quantities and Argentina imposes restrictions and rants and raves et al, then they will lose out economically. The oil companies will go elsewhere and bypass Argentina.

Argentina does not have the military capability (they lost that in the last War) to mount a military takeover, especially as the Falklands is now defended by the RAF and has the runways to receive rapid supply. In theory, if things looked dicey the Islands could be reinforced at the drop of a hat. Talk of the military option is however a fantasy as the (now) democratic Argentina have ruled it out as an option, mainly because they know what the outcome would be.

Regards

reply to post by ThorsBrother


persian gulf crude has to travel further - as tankers of an " economical capacity " can no loger use the suez canal

reply to post by paraphi


You forgot to add there is usually a couple of Royal Navy Ships also around the Falklands including a Submarine. So no Argentina would not dare attack, now. Apart from going to the UN and complaining about it. Where the UK could slap that complaint down with its veto. There is not alot they can do about it. Unless other countries around that region become involved also.

RN warships on patrol, plus an SSN. At least one fighter squadron, 1500 regular troops and a local miltia of about company strength. That plus 24 hour AWACS cover should be adequate deterent to the Argies.

reply to post by Wotan


Yeah this will cause issues... The Falklands have come up a few times recently, with Chavez siding with Argentina about returning the islands, which I dont see happening anytime soon.

Couple the recent finds with the EEZ the UN established, and we have the stage for Falklands part 2.

I wonder if their is time to clone Thatcher?

Rockhopper are absolutely skinto guys. Shares dropped to 19p GB yesterday.

If they dont get the funds they will go under. They have already drilled a good few dry wells in the area and are not looking good to come up with the goods without a serious cash injection.

As for this leading to war, Britain threw the gauntlet down when the Rockhopper platform first moved to the falklands by despatching a destroyer to monitor the area.

Argentina aint gonna do a thing, and wont need to if it keeps drilling dry wells.

In other words yuou expect that this is just hype to get a cash flow going?
What im asking really is there oil or not?
If there is, well......anything can happen......Argentina/Venezuela allied over it?
Venezuelas cash reserves could support a few exocettes not?