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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (2160)3/14/2001 9:30:34 PM
From: Tomas   of 2742
 
Oil exploration offshore The Falkland Islands
From Investors Chronicle (UK), March 9

...
Desire Petroleum is the largest licence holder in the offshore North Falkland Basin where it has 100 per cent interests in four large blocks and 13 per cent of a fifth. The first round of drilling in 1998 proved disappointing. Subsequent data interpretation suggests that up to 60bn barrels of oil was generated and then expelled from the rich source rock encountered in the wells.

So, where did it go? One suggestion is that the wells were not drilled deep enough and large fault blocks could mean that the oil migrated to shallower water: perhaps 20km offshore and at water depths of under 100km whereas the wells drilled were in water depths of 200m to 500m. Desire is now looking for farm-in partners.
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