- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Falkland O&g Share News (FOGL)
Share News for Falkland O&g (FOGL)
| Share Price: 27.25 | Bid: 26.75 | Ask: 27.25 | Change: 0.75 (+2.83%) |  | ||||||
| ||||||||||
UPDATE 1-Borders & Southern says Falklands well disappoints
Mon, 16th Jul 2012 08:34
LONDON, July 16 (Reuters) - Borders & Southern Petroleum reported disappointing results in th
Shares in the company plunged nearly 70 percent to a three-year low of 19.75 pence after it said on Monday that the Stebbing well found evidence of gas but not in quantities that were likely to be commercial.
Technical difficulties meant the well did not reach lower targets, a result it called disappointing.
Oil exploration by British companies off the Falklands is irritating old wounds with Argentina and tensions between it and Britain have been risen this year, the 30th anniversary of the war the two fought over the islands.
Borders & Southern's disappointment follows the company's initial success when its first well, also drilled south of the islands, found gas condensate, a liquid which often trades at a premium to crude oil.
The Falklands look set to be transformed into a new oil producing region following an oil discovery made by another British firm, Rockhopper Exploration, two years ago off the north coast of the islands.
Rockhopper signed a $1 billion deal with Premier Oil on Thursday to help fund the development of the oil field.
Borders & Southern is leading the charge to find oil off the south coast of the islands. The rig will now go to drill for Falkand Oil & Gas.
(Reporting by Sarah Young, Editing by Paul Sandle) Keywords: BORDERSANDSOUTHERNPETROLEUM/BRIEF
(sarah.young@thomsonreuters.com)(+44 20 7542 1109)(Reuters Messaging: sarah.young.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, July 16 (Reuters) - Borders & Southern Petroleum reported disappointing results in th
e Falkland Islands from the latest well to be drilled as part of the controversial search for oil in the British islands over which Argentina claims sovereignty.
Shares in the company plunged nearly 70 percent to a three-year low of 19.75 pence after it said on Monday that the Stebbing well found evidence of gas but not in quantities that were likely to be commercial.
Technical difficulties meant the well did not reach lower targets, a result it called disappointing.
Oil exploration by British companies off the Falklands is irritating old wounds with Argentina and tensions between it and Britain have been risen this year, the 30th anniversary of the war the two fought over the islands.
Borders & Southern's disappointment follows the company's initial success when its first well, also drilled south of the islands, found gas condensate, a liquid which often trades at a premium to crude oil.
The Falklands look set to be transformed into a new oil producing region following an oil discovery made by another British firm, Rockhopper Exploration, two years ago off the north coast of the islands.
Rockhopper signed a $1 billion deal with Premier Oil on Thursday to help fund the development of the oil field.
Borders & Southern is leading the charge to find oil off the south coast of the islands. The rig will now go to drill for Falkand Oil & Gas.
(Reporting by Sarah Young, Editing by Paul Sandle) Keywords: BORDERSANDSOUTHERNPETROLEUM/BRIEF
(sarah.young@thomsonreuters.com)(+44 20 7542 1109)(Reuters Messaging: sarah.young.thomsonreuters@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
STOCKS NEWS EUROPE-UK small caps off 0.2 pct at mid-session
UK small caps fall 0.2 percent, faring slightly better than their mid-cap and blue-chip counterparts, both off 0.5 percent.Shares in JD Sport Fashion[17 Apr '13]
UPDATE 1-Falkland Islanders vote overwhelmingly to keep British rule
* Results show 99.8 percent want British rule to continue* Argentina has ratcheted up pressure for sovereignty talks* Oil and gas finds have heightene[12 Mar '13]
Falkland Islanders vote overwhelmingly to keep British rule
* Results show 99.8 percent want British rule to continue* Argentina has ratcheted up pressure for sovereignty talks* Oil and gas finds have heightene[12 Mar '13]
UPDATE 1-Falklands votes in sovereignty referendum rejected by Argentina
* Argentina intensifies claim over British-ruled territory* Islanders vote on keeping sovereignty status quo* Buenos Aires says referendum illegal, ir[10 Mar '13]
Falklands votes in sovereignty referendum rejected by Argentina
* Argentina intensifies claim over British-ruled territory* Islanders to vote on keeping sovereignty status quo* Buenos Aires says referendum irrespon[10 Mar '13]
Falkland Islands defy Argentine sovereignty push with referendum
* Argentina steps up claim over British-ruled islands* Islanders to vote on keeping sovereignty status quo* Argentina dismisses referendum as publicit[8 Mar '13]
UPDATE 1-Argentina vows to prosecute Falklands oil firms
LONDON, Feb 6 (Reuters) - Argentina will continue legal action against energy firms working off the disputed, British-controlled Falkland Islands, Arg[6 Feb '13]
Argentina: we will prosecute Falkland energy firms
LONDON, Feb 6 (Reuters) - Argentina will continue legal action against energy firms working on the disputed, British-controlled Falkland Islands, Arge[6 Feb '13]
