Monday, 6 December 2010

Desire dashes HMRC dreams

The slightly surprising RNS from Desire PLC today means that a big chunk of the Falklands basin does not have any oil. RockHopper have found some with their Sealion discovery, but unless more is found the huge remoteness of the whole area will mean that there is no meaningful oil business there.

The dreams of HMRC of another North Sea style bailout fund for the UK are therefore dashed. At least we can save some money by downgrading defences of the Falklands now that the Argies won't want to invade again.


Sackerson said...

I thought the Falklands and South Georgia were significant in establishing possible future claims on Antarctican coal/oil.

Budgie said...

Argies want the Falklands for teritory power not oil (ie: oil would be a bonus but is not the main reason).

Dick the Prick said...

Bugger. Could have done with a few billions.