Falklands oil

[Jeebo72]

Yup, it's definitely all or nothing.

Edit: Doh I wasn't finished. I was going to say...

Been reading the boards a bit today (but not much as they would annoy me) and some folk have got upwards of £30k invested as a private individual. That seems like madness to me unless that's part of a £2-300K portfolio.

I've got 30K + invested (24K at risk as my own money). Why is that madness? I've returned more in profits and divvys each year than my pensions etc ...

[Moscow Mule]

I've got 30K + invested (24K at risk as my own money). Why is that madness? I've returned more in profits and divvys each year than my pensions etc ...

I mean in one AIM listed share - it seemed to me that this was the only or one of a few things they had invested in.

If you've spent a big chunk your life savings on AIM shares (as some had professed to have doing), you're playing quite fast and loose IMO.

That said, it is an internet forum so they are probably all talking bollocks.

[Jeebo72]

I mean in one AIM listed share - it seemed to me that this was the only or one of a few things they had invested in.

.

If that is the case, and it's not money they can afford to lose, then you ARE right... so fair enough.

[Nicely Nicely]

Prospects not looking good: Falklands oil unviable - Desire Petroleum

Good. Let's hope the Falklanders get left alone.

If the oil is viable, the islands will either end up as part of Argentina or, more likely, part of USA once the dust settles.

[TimberWolf]

Good. Let's hope the Falklanders get left alone.

If the oil is viable, the islands will either end up as part of Argentina or, more likely, part of USA once the dust settles.

I've been reading Robert Fitz-Roy's accounts of the voyage of the Beagle, and in it he describes in some length the history and dispute over sovereignty of the Falklands, back in the 1830s. It was a dangerous place at that time, containing ferocious bulls and large foxes, so much so that a man couldn't venture out alone. Argentina thought they owned it back then too.

...After reading this short statement of facts, one may pause to consider what nation is at this moment the legitimate owner of the Falklands. Do the discovery, prior occupation, and settlement of new and uninhabited countries give a right to possession? If so, Great Britain is the legal owner of those islands. Davis first discovered them; Hawkins first named them; Strong first landed on them; and (excepting the French), Byron first took formal possession of them; and (again excepting the French), Macbride first colonized them. Respecting the French claim, depending only upon first settlement, not discovering, naming, or landing; whatever validity any one may be disposed to allow it, that value must be destroyed, when it is remembered that Spain asserted her superior claim, and that France actually admitted it, resigning for ever her pretensions to those islands. Whatever France might have been induced to do for political reasons, of which the most apparent now is the continuance of the trade she then carried on with Chile and Peru, England never admitted that the Spanish claim was valid: and France having withdrawn, the question is solely between Spain and Great Britain. Spaniards neither discovered, landed upon, nor settled in the Falklands before Englishmen; and their only claim rests uponthe unstable foundation of a papal bull, by virtue of which Spain might just as well claim Otaheite, the Sandwich Islands, or New Zealand.

As to the pretensions of Buenos Ayres, I shall only remark, that in a paper transmitted by her government to Mr. Baylies, chargé-d'affaires of the United States of North America, on the 14th August 1832, the advocate of her claims asserts, that "it is a political absurdity to pretend that a colony which emancipates itself, inherits the other territories which the metropolis may possess. If that singular doctrine were to be found in the code of nations, the Low Countries, for example, on their independence being acknowledged, in 1648, would have succeeded to Spain in her rights to America; and in the same manner, the United States would have appropriated to themselves the British possessions in the East-Indies. Inheritance, indeed! the United States did not inherit the rights of England in Newfoundland, notwithstanding its contiguity; and are they to inherit those which she may have to the Malvinas, at the southern extremity of the continent, and in the opposite hemisphere."...

http://darwin-online.org.uk/content/...text&pageseq=1 page 228 onwards

[swamp]

Good. Let's hope the Falklanders get left alone.

If the oil is viable, the islands will either end up as part of Argentina or, more likely, part of USA once the dust settles.

Maybe it's an elaborate plot to put the Argies off the scent?

[The_Equalizer]

I've got 30K + invested (24K at risk as my own money). Why is that madness? I've returned more in profits and divvys each year than my pensions etc ...

Good to hear. I'm in for a fair chunk. It was in no way good news from the Sunday Times, but the sell off was a massive overreaction. I watched the RNS release at 07:00 and then the madness that happened afterwards. I hadn't any clear funds, and might not have had the balls to do it, but I saw RKH touch 30p and DES 40p between 08:00 and 08:30. There was no way that was justified. That was 30% plus to be made in about an hour while the market found its level.

It's not as if the official results have been announced and it is only the start of the campaign. These are going to be all over the place in the coming months.

[Money Money Money]

Anyone know why the shares has dropped again today?

Can't find any news on it??!!

[Andy2]

Anyone know why the shares has dropped again today?

Can't find any news on it??!!

hahaha This is AIM. Shares fall and rise at marketmaker's whim and manipulations
Anyway their next well is a few months away , so expect these to drift towards 20p.

[TimberWolf]

I'm half tempted to buy some Desire shares. Not because I think they'll find oil, but as a short term speculation based on a gamble that the price will rise again before the next drilling.

But I haven't bought shares for years and don't have a share trading account, so speculation of that sort will probably be a pain to set up, unless anyone knows of a hassle free way of buying shares?