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Gold/Mining/Energy : Sodra Petroleum
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To: Greywolf who wrote ()9/17/1999 8:29:00 PM
From: Greywolf   of 133
 
OIL COMPANIES EXPRESS INTEREST - AGAIN,

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 (AC) reports.

AC 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.

Greywolf note:
Would I get involved with this venture again? Well do seagulls sit on the beach...
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