Falklands : Hydrocarbons Daily Record Thursday, 28 February 2008
Submitted by Falkland Islands News Network (Juanita Brock) 28.02.2008 (Article Archived on 13.03.2008)
Crude closed at a record high today due to a gas terminal fire in the UK.
HYDROCARBONS DAILY RECORD THURSDAY, 28 FEBRUARY 2008
By J. Brock (FINN)
At 1930hrs LMT on Thursday, 28 February 2008 Light Sweet Crude was trading at $102.59 up $2.95 on the New York Mercantile Exchange. Brent Crude was trading at $101.10 up $2.83 on London’s ICE Futures Market.
ANALYSIS:
Using the fear factor, the industry has helped to increase crude prices today in the aftermath of a gas terminal fire in the UK. The weak US Dollar and a pending decision by OPEC to maintain or decrease production also helped crude prices to increase today.
OPEC could be seeing the decreasing demand that economising will cause. There is no sense in pumping more crude if people can’t afford to buy it.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Thursday, 28 February 2008.
TLW: 633.00 down 6.50, DES: 64.25 up 12.25, FOGL: 126.00 up 3.00 RKH: 66.50 up 10.50, BOR: 68.00 up 7.50 PRE: 13.00 down 0.25, GBP: 7.38 up 0.13, GPK: 424.00 unchanged, BLT 1652.00 down 10.00, RDSA: 1829.00 down 18.00 RDSB: 1804.00 down 18.00
New York Stock Exchange:
XOM: 89.46 up 0.07 (USD)
THE MARKETS (28/02/08)
FTSE100: 5,965.70 down 110.83, FTSE250: 10, 230.80 down 190.27 SmallCap: 3,279.40 down 5.02
DJI: 12,582.18 down 112.10 NASDAQ: 2,331.57 down 22.21 S&P500: 1,367.68 down 12.34
INTERNATIONAL DEVELOPMENTS:
(Spain)
The exploration phase will wrap up in 2010 with the goal of starting production end-2011. Block 39 is in Loreto department.
http://www.bnamericas.com/news/oilandgas/Repsol_YPF_to_pump_US*533mn_into_block_39
(North Pole)
While nations ringing the North Pole mobilize icebreakers, put forward scientists and issue chest-thumping news releases to assert ownership of a potential energy bonanza beneath the shrinking sea ice, a former Australian miner and a retired Canadian senator have some advice for them.
http://canadianpress.google.com/article/ALeqM5ijbKBEwiTyNLexOpCZtt8X5pVWJA
(UAE)
The capital of the UAE, Abu Dhabi, is investing heavily in alternative sources of energy. The oil rich emirate, the fourth largest OPEC producer, with 10 percent of the world’s known oil reserves, is keen to become a global center for the development and implementation of clean energy technology.
http://yementimes.com/article.shtml?i=1133&p=report&a=2
REGIONAL DEVELOPMENTS:
(Brazil)
The theft of oil company computers containing what the president called «state secrets» turned out to be a case of common robbery, police said Thursday
http://www.pr-inside.com/brazil-police-recover-computers-stolen-r462399.htm
(Venezuela)
Venezuela may support either an output cut or a motion to leave production unchanged at next week's meeting of the Organization of Petroleum Exporting Countries, the nation's oil minister said Thursday.
http://money.cnn.com/news/newsfeeds/articles/djf500/200802281309DOWJONESDJONLINE001045_FORTUNE5.htm LOCAL DEVELOPMENTS:
RNS Number: 9062O
Desire Petroleum PLC
28 February 2008
Desire Petroleum plc
(the "Company")
Director Shareholding
The Company was notified on 27 February 2008 that Byron Holdings Limited, a company of which Lewis Clifton, a non-executive director of the Company, is a director and shareholder, acquired 200,000 ordinary shares in the Company at a price of 53.125p per share on that date. Following this acquisition, Mr Clifton is beneficially interested in 1,612,500 ordinary shares in the Company, representing 0.7 per cent. of the issued share capital of the Company.
This information is provided by RNS
The company news service from the London Stock Exchange
RNS Number: 9961O
Falkland Islands Holdings PLC
28 February 2008
Falkland Islands Holdings PLC
Statement re share price movement
28 February 2008
Falkland Islands Holdings PLC ("FIH") notes the increase in its share price which may be attributable to the announcement by Desire Petroleum PLC of a farm-in agreement and drilling of exploration wells in the North Falkland basin.
FIH announces that the potential acquisition of a UK based company, which would be partly financed by the issue of new FIH shares, is at an advanced stage of negotiation.
A further announcement will be made in due course.
This information is provided by RNS
The company news service from the London Stock Exchange
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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