.

Government has also signaled "ignore the Argentine nonsense".

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9218504/Foreign-Office-letter-to-banks-over-Argentinas-Falklands-oil-threats.html


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The Sun story has now been updated with additional text.

Talks now of 2 reservoirs.


Early Sun report on the link below :

http://img51.imageshack.us/img51/3969/capturezp.gif


The latest Sun report on the link below :

http://img16.imageshack.us/img16/4231/cap2.gif


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If confirmed : there will be a mention in the commons next week plus I reckon that Sterling might just increase against other currencies a little bit, early in the week....the equivalent of another North Sea......it would have dramatic consequences for the Falklands and the UK as a whole....jobs....and the balance of payments .....fingers crossed that it's correct...

It will have a dramatic effect on my portfolio which is massively loaded with FOGL and then quite a few BOR as well !! :)

Ditto....if confirmed....I'll believe it when I see it.....

FOGL has the biggest licenses, BOR are second. RKH might be third or equal with DES.

Just look at this map to show how BIG FOGL AND BOR license area's are.



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DES light blue
RKH green
BOR Orange
FOGL Pink
ARG Small one in the top left hand corner.

The area is vast.....fascinating pdf presentation on FOGL website.....

calm down - it's all only guesswork for now

Yes....how reliable is that article from the sun ?....

as the saying goes don't believe everything you read in the newspapers!

gas or oil...?....or both ?

looks like a lot of gas to me but will it make the SP shoot up as i think they preferred an oil strike

i think not - see my comment on bor

It does not say what kind of liquid which means either oil (heavy or light) or gas condensate

Lovely - a condensate discovery and massive one as well, no wonder BOR are pleased to announce it !

http://www.investegate.co.uk/Article.aspx?id=201204230700178142B


Condensate sells for a premium to Brent Crude.

A billion barrels of condensate - well ........... worth even more than a billion barrels of API32 crude.

The Times was half right, The Sun was half right.

Its not dry gas as The Times could have been taken for, and its not Crude Oil that The Sun said - however, its liquid gasoline in effect - more valuable than Brent crude and 26 square kilometers of it with very thick net pay.


Well done BOR and all !! no need to build an LNG plant like those East African finds - this comes out as condensate, beautiful !! :)

Opens the basin and not only wonderful news for BOR, but great news for FOGL with now a proven working hydrocarbon system in the South Falklands for the first time.

Congratulations to the Borders and Southern team.....and well done risk takers and investors here...bravo,,,,and it was a huge risk....

for those like me who have no knowledge .....

The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. API gravity is thus an inverse measure of the relative density of a petroleum liquid and the density of water, but it is used to compare the relative densities of petroleum liquids. For example, if one petroleum liquid floats on another and is therefore less dense, it has a greater API gravity. Although mathematically, API gravity has no units (see the formula below), it is nevertheless referred to as being in "degrees". API gravity is gradated in degrees on a hydrometer instrument. The API scale was designed so that most values would fall between 10 and 70 API gravity degrees.

Congratulations Pro , well done.

floats on water .... don't like the sound of that cynic . is that good ?