A Desire Petroleum rig 90 miles off the Falklands. Photograph: Gary Clement/Reuters
Trouble Flares Over Oil That Lies Beneath The Falklands -- The Telegraph
Argentina’s legal move raises fears of battle over natural resources.
In the latest annual report of Falkland Oil and Gas, published last May, under the heading “Principal risks and uncertainties”, the company listed two risks to shareholders investing in the £206m London-listed company.
Neither of those identified, however, warned investors of the underlying political risk – that the company may be caught up in a legal onslaught from the Argentine government directed firm and centre at the UK.
But as The Sunday Telegraph reveals today, that is the very real threat facing the industry at large - after a string of Briitsh and American banks received legal threats to that effect. The oil companies themselves have been left off the mailing list - at least for now.
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My Comment: Maybe Argentina's concerns and Britain's hopes are misplaced.
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