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Reply To: Ocean Guardian – Drilling – Falklands?

Home Forums General Industry News Updates & Discussions Ocean Guardian – Drilling – Falklands? Reply To: Ocean Guardian – Drilling – Falklands?

#29597
KeyserSoze
Participant

Nice one James. There are many people who are quick to judge others who they see as trying to make a fast buck. I have appended a reply which was sent into the Sunday Times in response to one such article…..

BUSINESS LETTERS

Risk-taking brings oil riches

YOUR report last week on the "Sheikhs of the South Atlantic" rightly pointed out some of the risks of investing in frontier oil exploration companies, in this particular instance those around the Falkland Islands. However, it somewhat overlooked the portentially enormous benefits of the activity taking place in that region.
If the explorers of the 1960s and 1970s had taken a cautious approach, there would have been no North Sea oil, no billion-pound bonanza for the Treasury and none of the jobs and technology development that followed.

The fact that five small British companies have, with the help of many British institutional and private investors, led this exploration effort should be applauded, not scorned.
At the CBI annual conference last monday, speakers espoused the need for British entrepreneurial spirit. I would suggest that our efforts in the South Atlantic are an example of such endeavour.
The risks of such pioneering exploration are clear and we certainly do not hide these from our investors, but the rewards could be truly substantial.
Of course, it could all to come to nothing, but given the potential rewards, surely it is a venture worth pursuing?

Tim Bushell
Chief executive, Falklands Oil and Gas
London W1
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