Falklands oil discovery?

  peter99co 23:46 06 May 2010
Locked

click here

Watch this space.

One of the oil and gas companies currently drilling off the coast of the Falkland Islands says it may have struck oil.

  Quickbeam 00:35 07 May 2010

In that case we might be having another war down there.

  GANDALF <|:-)> 08:23 07 May 2010

Strange that when one company has had no success with finding any economically extractable oil and interest and investment is waning in an area that is difficult to drill......a company MIGHT have found oil. There is a strong aroma of bull waste here. Even if there is oil there, it is very expensive to lift out and transport to refineries. Oil would need to be considerably more than $120/barrel to make economic sense.

For a country built on coal and surrounded by oil the benefits have been somewhat muted.

G

  morddwyd 08:45 07 May 2010

The Falklands built on coal?

I saw no evidence of it.

  GANDALF <|:-)> 12:19 07 May 2010

I was referring to great Britain not the Falkland islands which appear to be built on penguin droppings and has little economic use as well.

G

  PalaeoBill 15:21 07 May 2010

There was a series of TV advertisments about 'discovering' Ireland; quite good tongue in cheek stuff like "this bridge was first discovered by Mr and Mrs Smith on the second day of their holiday".
This 'discovery' that Rockhopper are claiming is in that same vein, being that it was previously and originally discovered by Shell a good ten years ago.

  spuds 16:03 07 May 2010

Malvina's it is then?.

Find a commodity, then sell or give it (with conditions) to the highest bidder.

  morddwyd 20:23 07 May 2010

Forgive me.

As the thread was about the Falklands, and I had no indication of any change of location, I assumed we were still talking about the Falklands.

Silly of me.

  PalaeoBill 21:04 07 May 2010

There is a bit more than penguin droppings there. In terms of mineral wealth, there is definitive evidence of gold and diamonds; certainly enough to make a detailed survey worth while. With respect to oil and gas deposits, the last survey suggested that the fields could be as big as those in the North Sea (50 to 60 billion barrels). None of this is secret or new, the information has been published by the British Geological Survey over the last twelve years or so.
The reason nothing further happened was that at the time oil prices were too low to make it economically viable. Well oil prices have more than doubled since then and drilling and extraction technology has advanced significantly. Hence Rockhopper's involvement. Its a gamble absolutley, which is probably why the big boys have left it to the likes of Rockhopper, but the prize is huge.

  peter99co 22:08 07 May 2010

click here

They seem pretty sure about their find as shown in the PDF Data links.

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