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British Strike Oil in the Falklands
By Victoria Murphy
Posted on May. 07, 2010

From Mirror News

A British firm yesterday said it had struck oil in the Falklands - threatening a fresh row with Argentina.

Rockhopper Exploration's find would be the first since UK companies began searching there in February.

Managing director Samuel Moody said: "Current indications are that we have made the first oil discovery... we are extremely excited by the results."

Further testing is needed before it decides whether to start drilling. If it does, the oil could prove a huge boost to the UK economy, worth up to £25billion. Rockhopper's shares soared 152% on the news. The value of other Falklands oil explorers also rose.

http://www.energytribune.com/articles.cfm/British-Strike-Oil-in-the-Falklands