Good news for some UK shareholders as Desire Petroleum have finally found oil in the Falklands. Ever since the British government defended the Falkland Islands in 1982 it was suspected that they were protecting more than just sheep farming. Some savvy investors bought shares in Desire Petroleum in response.
From the BBC:
“A British exploration company says it has discovered oil off the Falkland Islands in the South Atlantic – the second such find this year.
Desire Petroleum said it would carry out further tests to assess the significance of the discovery.
It said it believed further oil fields would be found in the area.
Oil exploration around the Falklands has angered Argentina, which challenges British sovereignty over the islands it calls the Malvinas.”
Read the full story: www.bbc.co.uk/news/world-latin-america-11906367