Falklands : Hydrocarbons Daily Record Monday, 18 February 2008
Submitted by Falkland Islands News Network (Juanita Brock) 19.02.2008 (Article Archived on 04.03.2008)
Seismic in Rockhopper's acreage looks outstanding.
HYDROCARBONS DAILY RECORD MONDAY, 18 FEBRUARY 2008
By J. Brock (FINN)
At 1930hrs LMT on Monday, 18 February 2008 Light Sweet Crude was trading at $95.90 up 40 Cents on the New York Mercantile Exchange. Brent Crude was trading at $95.10 up 47 Cents on London’s ICE Futures Market.
ANALYSIS:
OPEC’s reluctance to increase production this year has fuelled the latest price spike in crude. The vast majority of us realise that higher hydrocarbons prices mean heat one day and eat the next. If we stick to the rule a big dent will be taken out of demand. Eventually people will refuse to buy crude at extortionately high prices and, with lower demand, the price will have to come down.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Monday, 18 February 2008.
TLW: 614,00 up 14.50, DES: 31.50 up 0.50, FOGL: 122.00 down 0.50, RKH: 52.00 up 3.00, BOR: 53.00 up 8.50 PRE: 12.75 down 0.25, GBP: 7.13 unchanged, GPK: 426.00 unchanged, BLT 1618.00 up 67.00, RDSA: 1811.00 up 48.00 RDSB: 1774.00 up 47.00, RDSD: 39.21 unchanged (Trading in Euros)
New York Stock Exchange:
XOM: 85.37 down 0.18
THE MARKETS (14/02/08)
FTSE100: 5.946.60 up 158.99, FTSE250: 10.084,00 up 186.14 SmallCap: 3,187.40 up 26.80
DJI: 12,348.21 down 28.77 NASDAQ: 2,321.80 down 10.74 S&P500: 1,349.99 up 1.13
INTERNATIONAL DEVELOPMENTS:
(Iraq)
More than 70 international firms have registered to compete for tenders to help develop Iraq's oil reserves, seen as vital to providing the funds to rebuild the shattered country, Iraq's oil ministry said on Monday.
http://www.iht.com/articles/reuters/2008/02/18/news/OUKWD-UK-IRAQ-OIL.php
(United States)
While expressing confidence that the Congress of the Union will approve the energy reform during the current period of sessions, Energy Secretary Georgina Kessel warned about the possibility that in two years the United States might extract hydrocarbons owned by Mexico at the maritime border in the Gulf of Mexico.
http://www.redorbit.com/news/business/1258119/energy_secretary_warns_usa_may_extract_oil_from_gulf_of/
REGIONAL DEVELOPMENTS:
(Argentina)
Petroleo Brasileiro (NYSE:PBR) said one of its refineries in Argentina has been rocked by an explosion, although no one was injured in the blast.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23098439.htm
(Brazil)
Information stolen from Brazil's state-run oil company was related to two huge new offshore petroleum finds, President Luiz Inacio Lula da Silva said.
http://canadianpress.google.com/article/ALeqM5gbvOF1Yf-ywOdik_F1n6AeJabBxA
Brazil's Braskem remains committed to its goal of rivalling the Middle East with a strategic partnership in Venezuela, president and CEO Jose Carlos Grubisich said on Friday.
http://www.icis.com/Articles/2008/02/16/9101468/braskems-venezuela-project-on-track.html
(Chile)
ENAP to Endorse and Market ''Certified Green Dealer(TM)'' Program To Its MembersLAKEVILLE, Minn.MN-CERTIFIED-GREEN
http://www.ad-hoc-news.de/CorporateNews/15538407/Ticker
(Venezuela)
The conflict between Venezuela's state owned company PDVSA and Exxon Mobil could reduce exports from the South American country to the U.S. Venezuela is the number four provider of crude to the United States.
http://www.ibtimes.com/articles/20080218/oil-prices.htm
LOCAL DEVELOPMENTS:
Rockhopper is pleased to announce the results of the initial phase of mapping of prospects in its North Falkland Basin licences, PL032 and PL033, where 850km2 of 3D seismic data were collected in 2007. It is estimated by the Directors of Rockhopper that the prospects identified could contain 1.9 billion barrels unrisked recoverable and have P50 unrisked recoverable reserves of circa 1.2 billion barrels. This list of prospects does not include a number of additional leads which are still being investigated. In addition, prospects have already been identified on licences PL023 and PL024 which the Directors believe have P50 unrisked recoverable reserves of 2.5 billion barrels.
http://www.londonstockexchange.com/en-gb/pricesnews/marketnews/marketnews.htm?bsg=true&ns=RKH
Prospects identified from 850 sq km of 2007 3D seismic on PL032 and PL033 in the North Falkland basin could contain a mean 1.9 billion bbl recoverable, estimated directors of Rockhopper Exploration PLC.
http://www.ogj.com/display_article/320330/120/ARTCL/none/ExplD/1/Falkland-Islands/
Shares in oil explorer Rockhopper were higher after it said a project near the Falkland Islands could contain 1.9bn barrels of oil.
http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=1925652
Rockhopper Exploration PLC said the initial mapping phase of its North Falkland Basin licences PL032 and PL033 has identified five hydrocarbon prospects and confirmed the presence of multiple drilling targets. http://www.forbes.com/markets/feeds/afx/2008/02/18/afx4665413.html
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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