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British oil firm claims discovery off coast of Falkland Islands

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Thursday, May 6, 2010

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A British oil firm has claimed to have discovered oil off the coast of the Falkland Islands. Rockhopper Exploration would be the first company to strike oil in the Falklands if the claim is proven. Rockhopper were working in the North Falkland Basin when they apparently struck oil.

Rockhopper Exploration released a statement saying that one of the well’s "indicated an oil discovery". Managing Director Samuel Moody said "Current indications are that we have made the first oil discovery in the North Falkland Basin. We will now focus on analysing in more detail the data gathered from the well." He added that "We are extremely excited by the results of this well."

After the discovery, Rockhopper Exploration’s shares doubled. Desire Petroleum, another company that work in the Falkland area have seen rises in shares. Other oil companies in the Falklands also saw shares rise after the discovery.

The sovereignty of the Falkland Islands have always been disputed. Both the United Kingdom and Argentina claim the islands.


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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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