Falklands : Hydrocarbons Daily Record Wednesday, 12 March 2008
Submitted by Falkland Islands News Network (Juanita Brock) 13.03.2008 (Article Archived on 27.03.2008)
A declining US Dollar against the Euro is a major factor in today's crude price increase.
HYDROCARBONS DAILY RECORD WEDNESDAY, 12 MARCH 2008
By J. Brock (FINN)
At 1930hrs LMT on Wednesday, 12 March 2008 Light Sweet Crude was trading at $109.92 up $1.17 on the New York Mercantile Exchange. Brent Crude was trading at $106.27 up $1.02 on London’s ICE Futures Market.
ANALYSIS:
The USD meeting a new low against the Euro caused an increase in crude prices today. This makes crude more expensive. Though it runs against supply and demand, it does not run against greed and fear, which are behind the escalating crude prices. Crude supplies increased by 1.6 million barrels but fear mongers won’t let up until they get every ounce of spare change out of us.
SHARE PRICES AND THE MARKETS:
SHARE PRICES ON THE ALTERNATIVE INVESTMENT MARKET: Wednesday, 12 March 2008.
TLW: 646.00 up 16.00, DES: 71.50 down 1.75, FOGL: 134.50 up 6.50 RKH: 82.00 up 2.00, BOR: 57.00 up 1.50 PRE: 13.25 unchanged, GBP: 6.88 unchanged, GPK: 406.00 up 1.00, BLT 1564.00 up 74.00 RDSA: 1742.00 up 21.00 RDSB: 1708.00 up 26.00
New York Stock Exchange:
XOM: 85.97 down 0.71 (USD)
THE MARKETS (12/03/08)
FTSE100: 5,776.40 up 86.01, FTSE250: 9,989.40 up 216.62 SmallCap: 3,167.90 up 34.80
DJI: 12,110.24 down 46.57 NASDAQ: 2,243.87 down 11.89 S&P500: 1,308.77 down 11.88
INTERNATIONAL DEVELOPMENTS:
(Australia and Canada)
Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that twenty five (25) out of thirty four (34) of ACOR’s existing gas wells operated by Resource and Energy Technologies Company (RETCO) are currently being connected to a natural gas gathering system owned by a unit of Atmos Energy Corporation and to a gas processing facility, and operated by RETCO.
http://www.earthtimes.org/articles/show/acor-announces-approximately-25-wells-have-been-connected-with-atmos,312249.shtml
(South Africa)
A pricing structure very similar to petrol pricing for the sale and distribution of liquid petroleum gas (LPG) is being proposed by the department of minerals and energy.
http://www.busrep.co.za/index.php?fArticleId=4300305
(Netherlands)
Royal Dutch Shell said yesterday it was planning to order a floating facility capable of liquefying natural gas.
http://www.ft.com/cms/s/0/88836a24-ef0b-11dc-97ec-0000779fd2ac.html
REGIONAL DEVELOPMENTS:
(Latin America General)
This 14th Annual Latin Upstream is a key event for the Continent, focused on the exploration industry, gas-LNG and GTL - with Speakers from Latin America and worldwide on competition, National Oil Companies, strategy and portfolio, new ventures, new hydrocarbon potential, regional risks and management issues, integration in energy markets, domestic and cross-border oil and gas ventures, Independents, basins and acreage, new Bid Rounds, competitor strategies, and the future of Latin American and Caribbean hydrocarbons. 14th Latin Upstream 2009, 18th - 19th of March 2008, in the Sheraton Rio Hotel, Av. Niemeyer, 121, Leblon, Rio de Janeiro, 22450-220, Brazil. Day 1 18th March 9:00am – 16:40pm | Day 2 19th March 9:00am – 16:40pm. [ Sponsorship and Exhibition Contact: Sonika:: sonika@glopac.com | Tel: + 27 11 679 5167. Main Contact: Babette:: babette@glopac.com Tel: + 31 70 324 6154 | website:www.petro21.com | Support: Repswol YPF; ExxonMobil; StatoilHydro; PGS; Maersk Oil; eco Petrol.
http://www.revistafator.com.br/ver_noticia.php?not=33069
(Argentina)
Repsol YPF (NYSE:REP) and Vinccler Oil and Gas, the wholly-owned subsidiary of PetroFalcon Corporation (TSX:PFC), announced today the signing of a farm-in agreement on the Cardon IV Block in the Gulf of Venezuela.
http://www.marketwire.com/mw/release.do?id=831382
(Brazil)
- Royal Dutch Shell PLC has signed a deal to supply liquefied natural gas to Brazil's government-run oil giant Petrobras, the companies said in a joint statement Tuesday.
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080311&id=8322669
(Chile and Ecuador)
Chile and Ecuador reportedly have agreed to work together to explore for gas reserves off shore. Chile's National Petroleum Co. and Ecuador's Petroecuador agreed to joint exploration projects in Ecuador's Gulf of Guayaquil and off the coast of Peru, La Nacion newspaper reported Tuesday.
http://www.upi.com/NewsTrack/Top_News/2008/03/11/chile_and_ecuador_agree_to_gas_exploration/2978/
(Colombia)
Maurel et Prom said two development wells in Colombian fields in which it has stakes have shown outputs of 950 and 800 barrels a day in tests. The Balcon-22 well, on the Palermo contract in which Maurel et Prom has 50 pct, showed a 950 bpd output of 31 degrees API oil and the well has been connected to existing surface installations.
http://www.forbes.com/markets/feeds/afx/2008/03/12/afx4761298.html
(Peru)
Peruvian Foreign Minister Jose Garcia Belaunde considered it positive that President Rafael Correa considered the Peru-Chile maritime difference a bilateral one, refusing Ecuadorian involvement in the crisis.
http://www.plenglish.com/article.asp?ID=%7BC131E910-660D-47FD-8517-66AF6586363F%7D&language=EN
(Venezuela)
State oil company Petroleos de Venezuela said its four oil upgrading ventures in the Orinoco basin produce more than 600,000 barrels of crude a day, more than the company's own estimates.
http://www.oilandgaseurasia.com/news/p/0/news/1967
LOCAL DEVELOPMENTS:
RNS Number:9775P Desire Petroleum PLC 12 March 2008 Desire Petroleum plc (the "Company") Director Shareholding The Company announces the following purchases of ordinary shares by Byron Holdings Limited, a company of which Lewis Clifton, a non-executive director of the Company, is a director and shareholder: Date No. of shares Price per share 3 September 2007 35,000 31.33p 19 November 2007 140,000 25.5p 22 January 2008 100,000 24.5p 5 February 2008 100,000 29.5p 8 February 2008 100,000 28.87p Mr Clifton is currently beneficially interested in 1,612,500 ordinary shares in the Company, representing 0.7 per cent. of the issued share capital of the Company. 1,000,000 of these shares are held by Byron Holdings Limited. END This information is provided by RNS The company news service from the London Stock Exchange
Rockhopper gained 1.9 per cent to a high of 80p as Landsbanki reiterated its "buy" recommendation on the Falkland Islands exploration group. The broker said while Rockhopper was likely to need a partner or additional finance to fund its exploration programme, the prospect of drilling around the South Atlantic outcrop backed up the fundamental case for the company.
http://www.ft.com/cms/s/0/efc5f50a-efd6-11dc-8a17-0000779fd2ac.html
Tullow Oil plc ('Tullow')
the independent oil and gas exploration and production group, announces its results for the year ended 31 December 2007.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-12-2008/0004772305&EDATE=
Rockhopper Exploration PLC (“the Company”)
Issue of Equity and Total Voting Rights
Rockhopper Exploration plc (the “Company”) announces that, following receipt of a Notice of Exercise, options have been exercised in respect of 238,095 new ordinary shares of 1p each in the Company (“Ordinary Shares”) at a price of 42p per Ordinary Share.
The option to purchase Ordinary Shares was granted on 9 August 2005.
Application has been made for the new Ordinary Shares to be admitted to trading on AIM on or around 17 March 2008. The new Ordinary Shares will rank pari passu with the existing ordinary share capital of the Company and have been allotted and issued credited as fully paid.
Following admission, the total issued share capital of the Company with voting rights will increase to 75,908,330 Ordinary Shares.
The above figure of 75,908,330 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
Rockhopper Exploration plc www.rockhopperexploration.co.uk
Sam Moody - Managing Director 01722 414 419
Aquila Financial Ltd www.aquila-financial.com
Peter Reilly 0118 979 4100
Landsbanki Securities (UK) Limited
Tom Hulme 020 7426 9000
Falkland Oil and Gas Limited Preliminary Results
Falkland Islands Holdings plc ("FIH"), the international services Group which owns essential services businesses focused on transport and logistics and which has a 16.2% strategic shareholding in Falkland Oil and Gas (“FOGL”), notes the announcement issued today by FOGL,
Falkland Oil and Gas Limited
(“FOGL” or “the Company”)
Preliminary Results for the year ended 31 December 2007
FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces Preliminary Results for the year ended 31 December 2007.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1735854&source=RNS
LOCAL LINKS:
http://www.fogl.com
http://www.desireplc.co.uk
http://www.bordersandsouthern.com
http://www.rockhopperexploration.co.uk.
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