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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Greywolf who wrote (1309)9/17/1999 7:56:00 PM
From: Tomas  Read Replies (1) of 2742
 
Oil Companies Express Interest In The North Falkland Basin And The Special Area

A Report for Calling the Falklands By Simon Pipe (SP) 17/09/99

At least two unnamed oil companies have expressed an interest in exploring for hydrocarbons in Falklands waters. This news comes from the International Petroleum Convention in the UK. The Islands' Mineral Resources Director, Phylis Rendel, and her advisor, Dr. Phil Richards, spent much of their time at the gathering in Birmingham dispelling rumours of poor finds in Falklands Waters. Andrea Kennedy reports.

Exploration Companies have been cautiously enquiring about Falklands' Licenses for some months. That's despite the discouraging rumours circulating in the oil industry after the first round of drilling. The Birmingham Conference gave Phyllis Rendell and Dr. Richards their first proper opportunity, they say, to tell people that the findings were actually optimistic. They report renewed interest in exploration licenses as a result and say they had serious discussions with two or three companies at the Convention. But it will take time before budgets are committed. And, even then, work will be limited to satellite surveys and sonar pictures. Of rocks two or three miles below the ocean bed.

Newcomers could bring fresh money to the existing license exploration sites but they might well investigate new areas. Dr. Richards wouldn't say which ones.

Falkland Islands News Network
sartma.com
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