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Desire Petroleum are drilling in Falklands (DES)
markymar
- 03 Dec 2003 11:36
<>
Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM) dedicated to exploring for oil and gas in the North Falkland Basin. Desire has recently completed a 6 well exploration programme. The Liz well encountered dry gas and gas condensate at 2 separate levels while other wells recorded shows.
Together with the Rockhopper Exploration Sea Lion oil discovery in the licence to the north, these wells have provided significant encouragement for the potential of the North Falkland Basin. The oil at Sea Lion is of particular interest as this has demonstrated that oil is trapped in potentially significant quantities in a fan sandstone on the east flank of the basin. It is believed that over 50% of this east flank play fairway is on Desire operated acreage.
Desire has now completed new 3D seismic acquisition which provides coverage over the east flank play, Ann, Pam and Helen prospects. The results from fast-track processing of priority areas are provided in the 2011 CPR. A farm-out to Rockhopper has been announced. The revised equities are shown on the licence map (subject to regulatory approval and completion of the farm-in well). Desire Petroleum
Rockhopper Exploration
British Geological Survey
Argos Resources
Latest Press Realeses from Desire
markymar
- 24 Dec 2004 10:07
- 409 of 6492
From Bloody Rags to Black Riches (2)
Part 2
AP
Penguins still vastly outnumber humans in the Falklands.
Today, the island boasts 800 Land Rovers, 300 Mitsubishi vans and a small fleet of aircraft owned by the government. The two local supermarkets sell fresh flowers and raspberries, and their shelves are well-stocked with high-quality Italian wines. The radio station plays pop music from the United States and the stores sell Toshiba large-screen TVs. Every citizen is entitled to free healthcare, and seriously ill patients are flown, at government expense, to a joint German-Chilean private clinic in Santiago de Chile for treatment. The government pays for the Falklands' most promising students to attend British universities, even throwing in an annual stipend of 8,000 ($15,370). Stuart Wallace, 50, likes to get to work early at his office on Stanley's Philomel Street. He wears inexpensive eyeglasses and a plain blue tie. The only indication that Wallace is one of the Falklands' more well-heeled inhabitants is the Dior label on the inside of his jacket.
His company deals in fishery licenses, which Wallace, acting as the government's broker, sells to Taiwanese, Korean and Japanese fishermen who fish here to meet the demand back home for a particular species of squid (Illex) found in the Falklands' waters. Wallace himself already owns five large fishing boats of his own.
Wallace, like most people here, only has an eighth-grade education. He left school at the age of 14 to work for the local telephone company, where he was still earning only about 400 a month by his mid-thirties. But then the war happened. Since then, the Falklanders have been taking advantage of their 200-mile sovereignty zone, which the British had declared off-limits until 1984, citing tensions with Argentina.
When the men here refer to the period following the war as their "emancipation," they're talking about emancipation from both the Argentinean occupiers and the British colonial masters, who owned almost everything in the Falklands for years: the land, the farms, even what was then the islands' only junk shop. Since then, a few hundred Falklanders have started their own companies, and the government's annual revenues have increased from 3 million ($5.76 million) in the mid-1980s to 45 million ($86.5 million) currently.
The Coming of Oil
The Brasserie in downtown Stanley is the better of the capital's two restaurants. Lewis Clifton, 46, explains the basic tenets of the oil business as he cuts up his plate of poached salmon: "high risk, high costs, enormous profits." Clifton represents Desire Petroleum, a British oil company based in London. The company secured drilling rights in the north basin of the Falklands years ago, and has just announced that the most recent seismic tests produced "significant indications of the presence of natural gas and oil." Clifton is sure of one thing: "Oil will soon be the big factor here."
Roger Spink, 44, is sitting at a table at the opposite end of the restaurant. This thick-set man from England is the director of the powerful Falkland Islands Holdings. The company, a holdover from British colonial days, is reputed to have forced out entire generations of local farmers to the benefit of major English landholders. Today, the company still owns a lot of real estate, the island's largest supermarket, a building materials supplier and the leading travel agency. Spink's company also has its hands in the oil business. The subsidiary it established in May, Falkland Oil and Gas Limited, plans to drill in the Falklands' south basin.
The Falklanders know that once the oil starts flowing, there will be no turning back. Oil will flood the island with money and outsiders, and it will seep into the hearts and minds of the islanders.
Take Sue Backett, for example. The 47-year-old blonde, a manager for a shipping company in Stanley, is investing every penny she can spare in oil stocks. "The oil is coming," she says, and she looks excited. "I pray for it every day," admits Stephanie Middleton, 41, the mother of three children. She too owns stock in each of the oil companies involved. The Falklands' main weekly, the Penguin News, even began printing current stock prices a few weeks ago.
DPA
Over a thousand soldiers lost their lives in the 1984 war between the British Empire and Argentia.
This isn't the first time Falklanders have become mesmerized by oil. Six years ago, a number of foreign companies, including Shell, built a drilling platform in the waters off the islands. They found oil, but only in small amounts, at least at first. But then the price of oil plummeted to $9.50 a barrel on the world market, making expensive drilling a losing proposition. The oil companies quickly decided to abandon the project, which had already consumed $200 million. The drilling platform disappeared overnight, leaving behind a disappointed local population. The Falklanders had already expanded their hotels and built office buildings for the oil managers. Once again, powerful men from across the ocean had given them false hope and failed to deliver on their promises.
No one locks their doors in the Falklands. Children play in the street, and 55-year-old police chief David Morris's jail is almost always empty (with the exception of visits from weekend drunkards). The government, which consists of eight elected representatives, deals with issues like fishing quotas and improving roads, and the British governor, a distinguished gentleman usually dressed in a pinstripe suit, routinely invites the island's leading citizens to his residence for plum pudding or to celebrate the Queen's birthday. The island is a safe world in its own tiny nutshell.
The Minister of Raw Materials, Phyl Rendell, playing with her plexiglass cube and the droplet of oil it contains, believes that "everything will remain the way it is." But most people here share businessman Stuart Wallace's opinion: "Everything will change, the city, the bars and, most of all, we will change."
But it's a change that the islands sorely need. The Falklands are still a long way away from prosperity. Last fishing season, the Illex squid suddenly disappeared from the islands' waters. Experts still disagree over whether this was caused by overfishing or ocean warming. Either way, the loss of fishing license revenues has already put a hole in the government's previously ample budget.
The islanders also feel threatened by their old enemies, the Argentines. Buenos Aires has never given up its claim to the Falklands, and it began a new phase of provocation late last year, closing its air space to charter airlines bound for the Falklands. During the fishing season, Argentine coast guard vessels patrolled what Buenos Aires claims is Argentine marine territory, an area where fishing zones overlap. In September, Argentina forced the Chilean cricket association to bar the Falklanders from the South American championships if Stanley's team refused to play under the Argentinean flag.
The war hasn't ended. It's just being fought with different means. Since 1984, however, the British have made it clear where they stand: For the past 22 years, the British have maintained a constant presence of about 1,500 British troops to defend the territory, if necessary.
Part 2
AP
Penguins still vastly outnumber humans in the Falklands.
Today, the island boasts 800 Land Rovers, 300 Mitsubishi vans and a small fleet of aircraft owned by the government. The two local supermarkets sell fresh flowers and raspberries, and their shelves are well-stocked with high-quality Italian wines. The radio station plays pop music from the United States and the stores sell Toshiba large-screen TVs. Every citizen is entitled to free healthcare, and seriously ill patients are flown, at government expense, to a joint German-Chilean private clinic in Santiago de Chile for treatment. The government pays for the Falklands' most promising students to attend British universities, even throwing in an annual stipend of 8,000 ($15,370). Stuart Wallace, 50, likes to get to work early at his office on Stanley's Philomel Street. He wears inexpensive eyeglasses and a plain blue tie. The only indication that Wallace is one of the Falklands' more well-heeled inhabitants is the Dior label on the inside of his jacket.
His company deals in fishery licenses, which Wallace, acting as the government's broker, sells to Taiwanese, Korean and Japanese fishermen who fish here to meet the demand back home for a particular species of squid (Illex) found in the Falklands' waters. Wallace himself already owns five large fishing boats of his own.
Wallace, like most people here, only has an eighth-grade education. He left school at the age of 14 to work for the local telephone company, where he was still earning only about 400 a month by his mid-thirties. But then the war happened. Since then, the Falklanders have been taking advantage of their 200-mile sovereignty zone, which the British had declared off-limits until 1984, citing tensions with Argentina.
When the men here refer to the period following the war as their "emancipation," they're talking about emancipation from both the Argentinean occupiers and the British colonial masters, who owned almost everything in the Falklands for years: the land, the farms, even what was then the islands' only junk shop. Since then, a few hundred Falklanders have started their own companies, and the government's annual revenues have increased from 3 million ($5.76 million) in the mid-1980s to 45 million ($86.5 million) currently.
The Coming of Oil
The Brasserie in downtown Stanley is the better of the capital's two restaurants. Lewis Clifton, 46, explains the basic tenets of the oil business as he cuts up his plate of poached salmon: "high risk, high costs, enormous profits." Clifton represents Desire Petroleum, a British oil company based in London. The company secured drilling rights in the north basin of the Falklands years ago, and has just announced that the most recent seismic tests produced "significant indications of the presence of natural gas and oil." Clifton is sure of one thing: "Oil will soon be the big factor here."
Roger Spink, 44, is sitting at a table at the opposite end of the restaurant. This thick-set man from England is the director of the powerful Falkland Islands Holdings. The company, a holdover from British colonial days, is reputed to have forced out entire generations of local farmers to the benefit of major English landholders. Today, the company still owns a lot of real estate, the island's largest supermarket, a building materials supplier and the leading travel agency. Spink's company also has its hands in the oil business. The subsidiary it established in May, Falkland Oil and Gas Limited, plans to drill in the Falklands' south basin.
The Falklanders know that once the oil starts flowing, there will be no turning back. Oil will flood the island with money and outsiders, and it will seep into the hearts and minds of the islanders.
Take Sue Backett, for example. The 47-year-old blonde, a manager for a shipping company in Stanley, is investing every penny she can spare in oil stocks. "The oil is coming," she says, and she looks excited. "I pray for it every day," admits Stephanie Middleton, 41, the mother of three children. She too owns stock in each of the oil companies involved. The Falklands' main weekly, the Penguin News, even began printing current stock prices a few weeks ago.
DPA
Over a thousand soldiers lost their lives in the 1984 war between the British Empire and Argentia.
This isn't the first time Falklanders have become mesmerized by oil. Six years ago, a number of foreign companies, including Shell, built a drilling platform in the waters off the islands. They found oil, but only in small amounts, at least at first. But then the price of oil plummeted to $9.50 a barrel on the world market, making expensive drilling a losing proposition. The oil companies quickly decided to abandon the project, which had already consumed $200 million. The drilling platform disappeared overnight, leaving behind a disappointed local population. The Falklanders had already expanded their hotels and built office buildings for the oil managers. Once again, powerful men from across the ocean had given them false hope and failed to deliver on their promises.
No one locks their doors in the Falklands. Children play in the street, and 55-year-old police chief David Morris's jail is almost always empty (with the exception of visits from weekend drunkards). The government, which consists of eight elected representatives, deals with issues like fishing quotas and improving roads, and the British governor, a distinguished gentleman usually dressed in a pinstripe suit, routinely invites the island's leading citizens to his residence for plum pudding or to celebrate the Queen's birthday. The island is a safe world in its own tiny nutshell.
The Minister of Raw Materials, Phyl Rendell, playing with her plexiglass cube and the droplet of oil it contains, believes that "everything will remain the way it is." But most people here share businessman Stuart Wallace's opinion: "Everything will change, the city, the bars and, most of all, we will change."
But it's a change that the islands sorely need. The Falklands are still a long way away from prosperity. Last fishing season, the Illex squid suddenly disappeared from the islands' waters. Experts still disagree over whether this was caused by overfishing or ocean warming. Either way, the loss of fishing license revenues has already put a hole in the government's previously ample budget.
The islanders also feel threatened by their old enemies, the Argentines. Buenos Aires has never given up its claim to the Falklands, and it began a new phase of provocation late last year, closing its air space to charter airlines bound for the Falklands. During the fishing season, Argentine coast guard vessels patrolled what Buenos Aires claims is Argentine marine territory, an area where fishing zones overlap. In September, Argentina forced the Chilean cricket association to bar the Falklanders from the South American championships if Stanley's team refused to play under the Argentinean flag.
The war hasn't ended. It's just being fought with different means. Since 1984, however, the British have made it clear where they stand: For the past 22 years, the British have maintained a constant presence of about 1,500 British troops to defend the territory, if necessary.
markymar
- 24 Dec 2004 11:14
- 410 of 6492
December 2004 - New Licences in North Falkland Basin issued to Crude Oil and Gas Ltd
Crude Oil and Gas Ltd, a new UK exploration start-up company, has been awarded 2 licences covering 16 blocks in Quadrants 25 and 26 of the North Falkland Basin. These blocks (see A3 map available from the Downloads page) surround Desire Petroleum's blocks in the southernmost part of the North Falkland Basin. They are located in relatively shallow water (all less than 200 metres), and represent an opportunity to explore a part of the North Falkland Basin with a distinctly different structural style and stratigraphic infill to that observed further north in the area drilled during 1998.
Crude Oil and Gas Ltd plan a 2D seismic survey over their new licences within the first year of operation.
http://www.bgs.ac.uk/falklands-oil/download/download_files/A3MapDEC2004v2.jpg Good picture of there new acreage to get a better idea .
So who are Crude oil and what are there intentions.
Well it all boils down to a company called
Clarke Willmott*
1 Georges Square
Bath Street
Bristol BS1 6BA
direct dial: 0117 916 9522
e-mail: sthomas@clarkewillmott.com
*http://www.clarkewillmott.com
Regulated by The Law Society and
The Financial Services Authority
________________________________
They have four more offices and one is in Bristol and if you click on web site and location it takes you to the 4 office and this company belongs to a Mr Visick.
Now going to companies house you can check who owns the company http://www.companieshouse.co.uk which I have done and this is where the picture starts.
Crude Oil and Gas Ltd is registered to Richard Visick on the 5.10.04 and the address as a above Clarke Willmott
Hemingway Management registered 5.10.04 at the same address and then changed it to Crude oil and Gas Ltd.
And this man was the client of Hemingway Management http://www.bodecott.com/ and is now for Crude Oil
Also the biggest link here is that on the 5.10.04 Encana Ltd was set up and the address was also at Bristol address so who are Encara they are a Hugh oil company and based in Canada where Desire have been out on a so called tour back in July so we have Talisman energy and Encana, Talisman hold block F and Desire have a 12.5% share interest in block an 3D was covered in F over Liz from block C to F.
http://www.encana.com/
http://www.talisman-energy.com/
Both I believe are partners
Crude Oil and Gas Ltd, a new UK exploration start-up company, has been awarded 2 licences covering 16 blocks in Quadrants 25 and 26 of the North Falkland Basin. These blocks (see A3 map available from the Downloads page) surround Desire Petroleum's blocks in the southernmost part of the North Falkland Basin. They are located in relatively shallow water (all less than 200 metres), and represent an opportunity to explore a part of the North Falkland Basin with a distinctly different structural style and stratigraphic infill to that observed further north in the area drilled during 1998.
Crude Oil and Gas Ltd plan a 2D seismic survey over their new licences within the first year of operation.
http://www.bgs.ac.uk/falklands-oil/download/download_files/A3MapDEC2004v2.jpg Good picture of there new acreage to get a better idea .
So who are Crude oil and what are there intentions.
Well it all boils down to a company called
Clarke Willmott*
1 Georges Square
Bath Street
Bristol BS1 6BA
direct dial: 0117 916 9522
e-mail: sthomas@clarkewillmott.com
*http://www.clarkewillmott.com
Regulated by The Law Society and
The Financial Services Authority
________________________________
They have four more offices and one is in Bristol and if you click on web site and location it takes you to the 4 office and this company belongs to a Mr Visick.
Now going to companies house you can check who owns the company http://www.companieshouse.co.uk which I have done and this is where the picture starts.
Crude Oil and Gas Ltd is registered to Richard Visick on the 5.10.04 and the address as a above Clarke Willmott
Hemingway Management registered 5.10.04 at the same address and then changed it to Crude oil and Gas Ltd.
And this man was the client of Hemingway Management http://www.bodecott.com/ and is now for Crude Oil
Also the biggest link here is that on the 5.10.04 Encana Ltd was set up and the address was also at Bristol address so who are Encara they are a Hugh oil company and based in Canada where Desire have been out on a so called tour back in July so we have Talisman energy and Encana, Talisman hold block F and Desire have a 12.5% share interest in block an 3D was covered in F over Liz from block C to F.
http://www.encana.com/
http://www.talisman-energy.com/
Both I believe are partners
eddieshare
- 24 Dec 2004 21:45
- 411 of 6492
Thanks markymar
I have looked at the information you have posted and visited the web sites. I feel I would have come to the same conclusion over encana & talisman energy being partners. Lets hope we hear an anouncement soon. DES has ended on a positive for Christmas eve. DES has made great gains through the year, as it will next year.
All the best for Christmas and have a great New Year !
Good Luck All.
Eddie
I have looked at the information you have posted and visited the web sites. I feel I would have come to the same conclusion over encana & talisman energy being partners. Lets hope we hear an anouncement soon. DES has ended on a positive for Christmas eve. DES has made great gains through the year, as it will next year.
All the best for Christmas and have a great New Year !
Good Luck All.
Eddie
HUSTLER
- 27 Dec 2004 12:10
- 412 of 6492
good work marky
your research and postings are greatly appreciated,
all of us following desire look forward to positive news in the new year
if it all comes together as we anticipate, 2005 will be a great
year for both desire and its investors.
regards HUSTLER.
your research and postings are greatly appreciated,
all of us following desire look forward to positive news in the new year
if it all comes together as we anticipate, 2005 will be a great
year for both desire and its investors.
regards HUSTLER.
berlingo - 27 Dec 2004 17:59 - 413 of 6492
I second that Hustler ! There was an article in Fri Evening Standard about the Falkland Oil situation . Des got mentioned . Lets hope for a prosperous 2005 !
Cheers to all DES investors.
Cheers to all DES investors.
markymar
- 27 Dec 2004 21:20
- 414 of 6492
Hi all, hope you all had a good christmas and we still have 2 more trading days left before New Year and i expect the share price to rise on those 3 days.
I dont know if you have noticed but on money am you can use level 2 for free until New Year just so that should be quiet good.
Also from story i liked this bit
"British oil companies plan to begin boring into the sea floor as early as next year. They calculate that the future wells will be profitable even at a world oil price of $25 a barrel."
And the Governor in the Falklands is having a busy time with meeting over in London (i wonder with who and why) but have a go idea.
CG: The Governor is going away over Christmas and new year so I asked him, is this trip for business or for pleasure?
HP: I suppose its a combination of both. The principle reason for not spending Christmas here is that I have to attend meetings in London at the beginning of January. But since we have to go at the beginning of January, my wife and I decided that it was an opportunity to go back and spend some time with family and friends un the UK over Christmas and in Holland in the new year.
I am then going to be returning to London to attend a meeting called the leadership conference. This is a conference which brings together all of the heads of mission all of the ambassadors, high commissioners and governors from around the world to discuss with the Foreign Secretary and other ministers and senior officials the Foreign Offices priorities and strategy. This is the second such meeting. The first was held a couple of years ago and I attended that very shortly after I took up my post here. And this will be a very good opportunity to take the strategic look at what the FCO is doing globally, to meet colleagues and secure an opportunity in the margins to see some of my fellow governors and also to talk to officials about particular Falklands preoccupations. That will take a couple of days.
There is also a conference of Latin American Heads of Mission, which is taking place immediately after that. While a lot of their preoccupations are very different than mine, I will be looking on the relevant sessions of that conference.
And we will also be taking advantage of my return to the UK to hold the Annual meeting of the South Georgia Liaison Committee. This brings together the Foreign Office, the South Georgia Government and the British Antarctic survey to talk about relevant issues in South Georgia. A very useful opportunity, once again to talk to people about a number of South Georgia related issues and over whats gone on over the last year and all sorts of things, which we are going to be doing over there in the next 12 months.
And I will certainly be spending some more time in the Foreign Office, speaking to a range of officials and maybe seeing one or two other people as well. So, lots of work but also, I hope a little rest, too. And, I look forward to coming back to the Falklands in the middle of January.
Good luck
Markymar
I dont know if you have noticed but on money am you can use level 2 for free until New Year just so that should be quiet good.
Also from story i liked this bit
"British oil companies plan to begin boring into the sea floor as early as next year. They calculate that the future wells will be profitable even at a world oil price of $25 a barrel."
And the Governor in the Falklands is having a busy time with meeting over in London (i wonder with who and why) but have a go idea.
CG: The Governor is going away over Christmas and new year so I asked him, is this trip for business or for pleasure?
HP: I suppose its a combination of both. The principle reason for not spending Christmas here is that I have to attend meetings in London at the beginning of January. But since we have to go at the beginning of January, my wife and I decided that it was an opportunity to go back and spend some time with family and friends un the UK over Christmas and in Holland in the new year.
I am then going to be returning to London to attend a meeting called the leadership conference. This is a conference which brings together all of the heads of mission all of the ambassadors, high commissioners and governors from around the world to discuss with the Foreign Secretary and other ministers and senior officials the Foreign Offices priorities and strategy. This is the second such meeting. The first was held a couple of years ago and I attended that very shortly after I took up my post here. And this will be a very good opportunity to take the strategic look at what the FCO is doing globally, to meet colleagues and secure an opportunity in the margins to see some of my fellow governors and also to talk to officials about particular Falklands preoccupations. That will take a couple of days.
There is also a conference of Latin American Heads of Mission, which is taking place immediately after that. While a lot of their preoccupations are very different than mine, I will be looking on the relevant sessions of that conference.
And we will also be taking advantage of my return to the UK to hold the Annual meeting of the South Georgia Liaison Committee. This brings together the Foreign Office, the South Georgia Government and the British Antarctic survey to talk about relevant issues in South Georgia. A very useful opportunity, once again to talk to people about a number of South Georgia related issues and over whats gone on over the last year and all sorts of things, which we are going to be doing over there in the next 12 months.
And I will certainly be spending some more time in the Foreign Office, speaking to a range of officials and maybe seeing one or two other people as well. So, lots of work but also, I hope a little rest, too. And, I look forward to coming back to the Falklands in the middle of January.
Good luck
Markymar
eddieshare
- 29 Dec 2004 21:10
- 415 of 6492
Hi all
Just thought I would post a chart.
Good Luck All
Eddie
Just thought I would post a chart.
Good Luck All
Eddie
markymar
- 30 Dec 2004 09:01
- 416 of 6492
Falklands-Malvinas
Thursday, 30 December
Driller in search of Falklands oil riches.
THE biggest-ever hunt for oil in the Falkland Islands is getting under way, as a London-listed start-up launches a bid to transform the British territory into a hotbed for energy giants.
According daily London Evening Standard, Aim-listed Falkland Oil and Gas Limited (FOGL) is spending the next three months seismic surveying and exploring eight 'leads' in a whopping 10,000-square kilometre zone in the South Atlantic.
If oil prices remain high, the company believes it could become a key production area.
Any success would transform the Falklands Islands' economy, currently based on sheep, squid and the only commercial herd of reindeer unaffected by the Chernobyl disaster.
FOGL has rights to an exploration zone covering 88,000 square kilometres south of the islands, equivalent to 280 blocks in the North Sea.
Shares in another London-listed company, Desire Petroleum, surged last month after it claimed to have found evidence of large oil and gas deposits to the north of the islands.
FOGL's shares have climbed 46% since floating at 48p in October but it says any oil finds around the Falklands are at least a year off.
http://www.falkland-malvinas.com/Detalle.asp?NUM=4906
Thursday, 30 December
Driller in search of Falklands oil riches.
THE biggest-ever hunt for oil in the Falkland Islands is getting under way, as a London-listed start-up launches a bid to transform the British territory into a hotbed for energy giants.
According daily London Evening Standard, Aim-listed Falkland Oil and Gas Limited (FOGL) is spending the next three months seismic surveying and exploring eight 'leads' in a whopping 10,000-square kilometre zone in the South Atlantic.
If oil prices remain high, the company believes it could become a key production area.
Any success would transform the Falklands Islands' economy, currently based on sheep, squid and the only commercial herd of reindeer unaffected by the Chernobyl disaster.
FOGL has rights to an exploration zone covering 88,000 square kilometres south of the islands, equivalent to 280 blocks in the North Sea.
Shares in another London-listed company, Desire Petroleum, surged last month after it claimed to have found evidence of large oil and gas deposits to the north of the islands.
FOGL's shares have climbed 46% since floating at 48p in October but it says any oil finds around the Falklands are at least a year off.
http://www.falkland-malvinas.com/Detalle.asp?NUM=4906
markymar
- 30 Dec 2004 10:24
- 417 of 6492
Oil
For oil, since September 1995, and after years of discussions a formal agreement which was endorsed during a meeting in New York of President Menem and Prime Minister John Major, has opened the field to cooperation and joint exploration and exploitation of the south Atlantic.
The agreement has enabled the government of the islands to licence areas for exploration to the north and south of the Falklands/Malvinas which successfully took place last July 2nd., while it sets aside a joint special area, to the west where the areas with Argentina overlap and will be jointly managed.
The discussions over the legal framework for the licencing of the joint or special area, which is scheduled for next year are going ahead full steam.
The oil licencing round of the local government was preceded by the contracting of several seismic surveys done by Geco-Prakla and Spectrum Geophysical which revealed promising data. A total of six consortia, representing fourteen oil companies showed up on the closing day of the licencing, among which: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum. The fact all companies participated in consortia is because of the high cost of the drilling in this new province which is estimated between 10 and 15 million pounds for each well.
Fig: Illustrative project returns and revenue shares for a 500 million barrel offshore oilfield assuming exploration and appraisal costs of $50 million, $5 per barrel development costs including capital and drilling expenditure, an $18 per barrel oil price, start of production in year 8 of the project and peak production of 135,000 barrels per day four years later.
http://www.falkland-malvinas.com/about.asp?TEMA=fk&IDIOMA=Ingles
For oil, since September 1995, and after years of discussions a formal agreement which was endorsed during a meeting in New York of President Menem and Prime Minister John Major, has opened the field to cooperation and joint exploration and exploitation of the south Atlantic.
The agreement has enabled the government of the islands to licence areas for exploration to the north and south of the Falklands/Malvinas which successfully took place last July 2nd., while it sets aside a joint special area, to the west where the areas with Argentina overlap and will be jointly managed.
The discussions over the legal framework for the licencing of the joint or special area, which is scheduled for next year are going ahead full steam.
The oil licencing round of the local government was preceded by the contracting of several seismic surveys done by Geco-Prakla and Spectrum Geophysical which revealed promising data. A total of six consortia, representing fourteen oil companies showed up on the closing day of the licencing, among which: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum. The fact all companies participated in consortia is because of the high cost of the drilling in this new province which is estimated between 10 and 15 million pounds for each well.
Fig: Illustrative project returns and revenue shares for a 500 million barrel offshore oilfield assuming exploration and appraisal costs of $50 million, $5 per barrel development costs including capital and drilling expenditure, an $18 per barrel oil price, start of production in year 8 of the project and peak production of 135,000 barrels per day four years later.
http://www.falkland-malvinas.com/about.asp?TEMA=fk&IDIOMA=Ingles
eddieshare
- 30 Dec 2004 10:55
- 418 of 6492
Hi all
Nice find markymar. All the news seems positive. Looking at your last post, its no wonder its taking a while to negotiate. This size of the project needs big money. Buyers out numbering sellers at the moment (11.00am).
Good Luck All
Eddie
Nice find markymar. All the news seems positive. Looking at your last post, its no wonder its taking a while to negotiate. This size of the project needs big money. Buyers out numbering sellers at the moment (11.00am).
Good Luck All
Eddie
markymar
- 31 Dec 2004 09:50
- 419 of 6492
I see another day goes by and no news but its another day closer and roll on 2005 and may a wish everyone all the best for 2005
2005 am sure will be the buzz word for the Falklands as we can see how things have changed this year with the likes of Falklands oil and gas and its many Co- Partners and Borders and Southern Petroleum and the most intriguing one for us Spives is Crude Oil & Gas and there acreage. When you look back poor old Desire were sitting there all by them selfs and when you look at the map we have plenty of neighbours now and this can only be a good thing.
Yesterday I posted a bit about the (special area) will be licensed by agreement between both the Falklands and Argy's together which means they are talking the same language now and working as one and the Governor of the Falklands is back in London at the moment having a series of meeting with officials and am sure this will the last barrier broken and news will be very soon of a farm-out Partners.
Just looking at the potential interest parties in the Special area set a side between Falklands and Argys and you have the likes of: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum it makes you wonder who Desire potential partners are with that world class 3 D seismic and am sure we will have a year not to forget in 2005.
All the best and thank you all for your input on this thread
Markymar
2005 am sure will be the buzz word for the Falklands as we can see how things have changed this year with the likes of Falklands oil and gas and its many Co- Partners and Borders and Southern Petroleum and the most intriguing one for us Spives is Crude Oil & Gas and there acreage. When you look back poor old Desire were sitting there all by them selfs and when you look at the map we have plenty of neighbours now and this can only be a good thing.
Yesterday I posted a bit about the (special area) will be licensed by agreement between both the Falklands and Argy's together which means they are talking the same language now and working as one and the Governor of the Falklands is back in London at the moment having a series of meeting with officials and am sure this will the last barrier broken and news will be very soon of a farm-out Partners.
Just looking at the potential interest parties in the Special area set a side between Falklands and Argys and you have the likes of: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum it makes you wonder who Desire potential partners are with that world class 3 D seismic and am sure we will have a year not to forget in 2005.
All the best and thank you all for your input on this thread
Markymar
grenvillegiles - 31 Dec 2004 10:02 - 420 of 6492
Have a good one Markymar & thanks for all your efforts re this thread.. keep up the good work. News will be forthcoming early next year & hopefully all will be rewarded.
Chris
Chris
markymar
- 02 Jan 2005 10:09
- 421 of 6492
http://www.falkland-malvinas.com/Detalle.asp?NUM=4912
2003, said Mr. Blair was a year in which efforts to diversify the Falkland Islands economy were deservedly reaping rewards; the agricultural sector had strengthened, while oil exploration projects also held out the prospect of positive benefits to the economy.
2003, said Mr. Blair was a year in which efforts to diversify the Falkland Islands economy were deservedly reaping rewards; the agricultural sector had strengthened, while oil exploration projects also held out the prospect of positive benefits to the economy.
markymar
- 05 Jan 2005 11:45
- 422 of 6492
Looks like we have broken the 60p mark now so the next one to break is the high of 64p and if that breaks we are in to a new area 70p.
mitzy - 05 Jan 2005 12:05 - 423 of 6492
70P looks great Mark and 100p later in the year...
markymar
- 05 Jan 2005 12:19
- 424 of 6492
And when they do start to drill 4 to 6 depending on how many partners and how many holes.
Then the big if do the hit oil and how much ?
Then the big if do the hit oil and how much ?
markymar
- 06 Jan 2005 09:02
- 425 of 6492
She is all blue today next stop 70p
hampi_man
- 06 Jan 2005 09:08
- 426 of 6492
Once it breaks through the 64p barrier, then we will see 70p
berlingo - 06 Jan 2005 17:18 - 427 of 6492
Hi everyone,
Well a good start to the New Year.There`s been more shares bought than sold in the last few days.Hopefully we will see an imminent announcement soon regarding the farm in . There is deffo a positive feel about DES at the moment. Does anyone know what DES`s P/E ratio is ? The smaller the better so i believe but what papers do list DES dont have the P/E !
Thankyou
Berlingo
Well a good start to the New Year.There`s been more shares bought than sold in the last few days.Hopefully we will see an imminent announcement soon regarding the farm in . There is deffo a positive feel about DES at the moment. Does anyone know what DES`s P/E ratio is ? The smaller the better so i believe but what papers do list DES dont have the P/E !
Thankyou
Berlingo
momentum
- 06 Jan 2005 17:40
- 428 of 6492
Des dont make a profit therfore dont have a PER
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