The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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The Falklands have just become the most valuable piece of real estate on earth according an article in the Daily Telegraph today.
https://www.telegraph.co.uk/news/2024/05/13/russian-oil-discovery-british-antarctic-falklands-argentina/
Interesting, are you able to post the full article ?
I guess it can’t hurt that the Rus supposedly have found the the motherload in the vicinity. With a ban on drilling for oil in the Antarctic, it may entice big oil to take a closer look at the region
Https://www.express.co.uk/news/world/1898366/russia-oil-gas-reserves-british-antarctic-territory
Reading the Telegraph:
If you open in incognito mode, paste the link and stop the page loading fully, the paywall doesn't kick-in (as its a JavaScript client-side check) - unlike The Times. You can thank my mum for this top-tip!
Here's the archived article without a paywall: https://archive.is/hRUYQ
The Russians carried out an offshore seismic survey in international waters, not on British Antarctica land. They did not discover an oilfield, because the Russian vessel was a seismic research vessel, not a drilling rig. The story is clickbait.
Indeed. What a load of nonsense.
First bit of exciting press coverage for Falklands oil for a while and it turns about to this rubbish!
This is a follow up story about oil in Antarctica in today's DT (for those who don't think it's just click-bait).
https://www.telegraph.co.uk/business/2024/05/14/russia-putin-oil-grab-battle-drill-antarctica-reserves/
Click bait for sure,
"The Russian polar research vessel Alexander Karpinsky drew little attention as it docked at Cape Town on its way back from Antarctica in February 2020."
So 4 years ago this ship did the survey LOL, are these reporters just trawling around for anything to do with Russia to rattle the sabre!
LTT
People, commenting on this story, claim that nothing can come of it because of an International treaty banning mineral extraction until 2040.
On 5th Dec 1994 Russia signed an international agreement that (along with Us and UK) it would protect the Ukraine .... that went well didn't it ?
The world is using almost 36 billion barrels of oil per year .... the whole of Sea Lion would keep the world going for less than a week.
The World is going to need that oil in Antarctica eventually and If Russia or another super-power go after it, who's going to stop them ?
Makes you realise why the U.K. wants to keep the Falklands, South Georgia and South Sandwich Islands in the fold. The Russians would have difficulty setting up a supply chain and a footprint to launch any exploration in our neck of the woods! Even Argentina is shying away from China to the US, so hardly think they would allow the Russians to set up anything down that way. No the Russians have far more easy pickings in the Artic circle particularly with less sea ice around, it would be a Herculean task for them to exploit the Antarctic anytime soon.
Not saying it will never happen but there is plenty of oil off Guyana and Namibia/South Africa to keep everyone busy for a few years yet. IMHO.
Regards LTT
According to the DT article : “In a statement following the ship’s expedition, the Russian geological agency Rosgeo said surveys had identified approximately 70bn tons of oil and gas buried beneath the Antarctic Shelf.”
There’s propaganda and outright lying, and this piece of horse manure is in the latter category. It is physically impossible for a seismic survey to identify oil and gas reserves, which DT says were “proven”. The editor’s pants are on fire.
Such a survey identifies geology which might include reservoirs which might contain hydrocarbons or water or might be tight and contain nothing at all. OK there are sometimes indicators in the seismic interpretation which suggest the presence of oil, but it’s a suggestion. Otherwise there would be no such thing as a dry hole, and exploration drilling would be a historical footnote in a world of plenty.
Desire oil to water anyone?
GBNews having an article on Falkland oil in a moment if anyone see this in time.
Waste of time. They didn't even know oil had been discovered off the Falkland Islands.
I don't know about that article being a waste of time but putting money into this share sure is a vast loss opportunity cost over the last 18 months!!!
It's like watching paint dry this SP.
Many of my gold stocks are up 40 to 100%... unfortunately my biggest holding is in RKH...and please don't say patience again .
Morning Blue,
I have to agree, it’s painful seeing the share price where it is, my patience has also been used up and then some!
I’m hoping to make it to the AGM, at the very least OM SHOULD be signed off by then and the company will be €15m better off, not that it will effect this share. What is needed is a Navitas blockbuster RNS along the lines of EIS submitted; funding secured; FPSO named and booked; partner coming in is an oil trading company, etc, etc.
Navitas must show their cards soon, how can they raise the funds to FID the project if nobody thinks it’s going to happen. They need to bang the drum, put in black and white the returns available to investor’s.
Right back to the paint!
LTT
Final Results are usually released at the end of May. You would think there might be a bit of an update then in advance of the AGM, although I think the second half of the year is likely to be a bit more meaningful in terms of newsflow.
have patience blue… it’s always darkest just before dawn! good news are imminent lol
let me know if you need me to throw in some more of the good ol’ well rehe****d cliches’ ??
haha you can’t write “rehe****d”..!? what about ****d then…?
Thanks for the calming words LLT,PD and D1, (although I did ask politely not to say the word patience LOL) I feel we must be at the level of black hole darkness ATM from the official RNS point of view!
I will hang in here a little longer as I do believe it will come good and make up lost ground and then some, eventually.
GLA!