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gruffydd

Oil Bonanza In The Falklands

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Yeah, but these guys had been looking for 12 years or something - other rigs have found nothing too.

I see on that Telgraph page that Petro Matad shares are up 20% today , not bad when they had to stop drilling a month ago due to the mongolian winter.

Edited by headrow

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It's there. We will find it (I mean UK plc rather than DES per se). Look at the North Sea early drilling record, or any other drilling record for that matter and you'll see the current campaign is excellent. Only Tullow can boast a superior record. Of course, those who put their entire savings / pensions into one extremely risky oil exploration company are asking for (and are getting) it.

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People scoff at the idea of placing large wind farms on the Dogger Bank and in other shallows in the North Sea, and yet they get excited about the possibility finding oil in the South Atlantic, where the ocean is between 1km and 2km deep and poses huge technical challenges to search for something that might not be there! OK, I believe there was one possible 'find' a year or so ago, but that's no gold-rush.

PS I did have shares in Falklands Oil and Gas (FOGL) for a while and sold at a small profit, but I'm 'out' now.

Edited by Hyperduck Quack Quack

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Yeah, but these guys had been looking for 12 years or something - other rigs have found nothing too.

I dunno, its pretty cold up there, maybe they have it it, but its frozen...:rolleyes:

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A suspicious person would assume the argies are drilling it from the side... or they've been bribed to say there's no oil there

Even on the most optimistic projections, there is about 3 months global supply at the Falklands. A lot of money to be made by whoever gets it, to be sure. But, sod-all importance with regards to meeting the global energy crunch heading our way.

Chances are there is a hell of a lot less than is beng touted anyway

It's a non-story

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It's been know for ages and ages that there's nothing there worth the drilling. Last year at the yacht club dinner I sat opposite a former chief engineer for Shell, and he made it clear that it's common knowledge amongst the big players that there's nothing there worth the fetching. I can only think that bit players find themselves relegated to places like the Falklands and just hope against hope that the big players got it wrong.

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It's there. We will find it (I mean UK plc rather than DES per se). Look at the North Sea early drilling record, or any other drilling record for that matter and you'll see the current campaign is excellent. Only Tullow can boast a superior record. Of course, those who put their entire savings / pensions into one extremely risky oil exploration company are asking for (and are getting) it.

Indeed, a friend said her partner had gone big into Falklands oil explorers despite never having owned shares before because it was a "dead cert" or words to that effect. I changed the subject.

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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