At last the plucky Falklands explorer has found some of the black stuff.
Unfortunately, it did’t find very much – two oil shows over a 1-metre section – and that means the game is almost up for Desire. Read more
The first London trading day of 2011 is proving to be a volatile one for oil explorers. Read more
I blogged on Friday about how one of the Wikileaked (can we use that as a verb yet?) cables showed ExxonMobil’s scepticism about Falklands oil. The memo said:
ExxonMobil International Chairman Brad Corson told us he does not believe there is enough oil on the Falkland Islands Continental Shelf to be profitable, citing Shell’s earlier oil exploration attempts which they abandoned.
At the time shares in the major companies drilling for oil in the area were unchanged – after all, it didn’t sound like Corson knew anything nobody else did.
But Corson and his fellow Falklands-sceptics look a litle more in the right today, after a rather dramatic statement from Desire Petroleum today. Read more
Yesterday Desire Petroleum’s shares jumped more than a quarter, which can only mean one thing: oil in the Falklands. Read more
The Falkland oilers fanclub aren’t giving up even though Desire Petroleum has suffered another setback. Read more