Monday 29 March 2010

A lack of Desire

My own portfolio is very top heavy in Oil and Gas explorers. One I have not touched but was about too was Desire petroleum which was exploring off the Falkland Islands. This was causing political troubel too in the form oof a UK-Argentine war of words.

However, the Sunday Times has caused the board to release a statement this morning saying the drilling has not been successful for thier first well. There are 5 more but this is a big setback and the shareprice will react accordingly.

Shame for all those who were gambling on it.


Electro-Kevin said...

Shame for Britain too.

CityUnslicker said...

5 more wells to drill, they know there is oil, but finding it is tricky!

James Higham said...

troubel too in the form oof

New northern dialect, CUS?

Anonymous said...

"5 more wells to drill" in they pay for 6 permits to try and hit the black stuff and if they don't, then they have to buy more permits?

If they know it's there, why can't they just buy one permit and keep plugging away until they hit it?


CityUnslicker said...

Anon - the 'where' is a bit important, the well points are spread over hundered of square miles. The permits are for geographical areas, one permit, one area.

Savonarola said...

Never mind. Chariots of Fire has done well(sic). Thanks.