The greater the number of discoveries around the Falkland Islands, the more economic it could become to develop the necessary infrastructure to extract the reserves. Photo: Reuters
Borders & Southern Makes 'Significant' Gas Discovery Off Falkland Islands -- The Telegraph
Explorer Borders & Southern has discovered "significant" gas condensate reserves south of the Falkland Islands, opening up a new and controversial oil and gas basin.
Shares in the Aim-listed company fell 32pc, to 89.5p, however, having almost doubled in value last week, amid rumours the company had struck crude oil. Gas condensate - a lighter, petrol-like substance - could be more challenging to extract commercially, analysts said, and data on the scale of the discovery are, at this stage, vague.
Borders & Southern said it would now conduct tests on samples of fluids recovered from the reservoir. "It is too early to give an accurate resource estimate," it said, but the rock was "likely to contain significant volumes".
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Update: Borders and Southern makes new Falklands discovery -- Reuters
My Comment: They were hoping for oil .... but this discovery is still big news, and is more proof that the Falklands are resource rich. This country is naturally not happy with this development.
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