Trades and observations from a British contrarian stock investor

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Thursday, February 4, 2010

Threats from Argentina take shine off Falkland Islands Oil stocks

Fears of a possible blockade of Desire Petroleum's (DES) Ocean Guardian Rig on its route down to the Falkland Islands by Argentinian Civilian vessels sent Falkland Island oil explorers down this morning. The British Ambassador was summoned by the Argentinian Government yesterday so they could convey their opposition to drilling and which the British Government has strongly refuted and reaffirmed the U.K.'s rights over the Islands. Despite the political posturing it is unlikely that military action will be taken. However, the news yet again confirms that the Falkland Island drilling is not for widows or orphans, but that's what makes these stocks so interesting! As they say "you've got to be in it to win it!".