DYOR/300 oil men fly out to Falkland Islands from Gatwick

blackrat779

Hi,
I am new to investing and have been attracted (like many) to higher risk AIM shares in oil and mining. Using the internet I have done a little research into the stocks that I hold. So far I have been lucky and stumbled across some good performers. Of course everyone quotes DYOR, but what do you do to try and ensure that you are taking on a safe bet?

I am not a geologist and have only the very beginnings of a technical understanding in oil exploration mainly gleaned from bulletin boards, probably not the safest source of information. I have no understanding of the charting or trends that people study, other than prices rise on good news and crash down immediately afterwards from profit taking followed by a slow decline to the next piece of news. How or more importantly where (on the net) can I improve my knowledge?

300 oilmen flew out of Gatwick to the Falkland Islands on Friday armed with some heavy luggage in the way of spare parts. Who were they working for? Why were they going? I don't know DYOR

Blackrat

freddysmith

Maybe a convention to watch the penquin's fall over backwards when an aircraft takes off..........Who Knows!

chris_m

They've heard the rumour of large, untapped water reserves ;-)

Biggles

blackrat779 wrote: »

300 oilmen flew out of Gatwick to the Falkland Islands on Friday armed with some heavy luggage in the way of spare parts. Who were they working for? Why were they going? I don't know DYOR

But you knew they were 'oilmen' and you knew they carried 'spare parts'?

blackrat779

Biggles wrote: »

But you knew they were 'oilmen' and you knew they carried 'spare parts'?

True, my (trustworthy) informant hadn't asked all the questions I would have done, so only had this snippet of information. I do hold some FI oil shares, a small amount, but all I can afford.

Blackrat

sabretoothtigger

Problem with FI is how do they get the oil back out to somewhere usefull

Rockhopper has most success I think but plain north sea is likely cheaper oil overall

jimjames

Biggles wrote: »

But you knew they were 'oilmen' and you knew they carried 'spare parts'?

TBH It sounds like a rumour started by someone to up a price.

Direct flights from Gatwick to Stanley? How do you identify 300 oilmen travelling, block booking whole plane? Private plane not scheduled? Spare parts in hand luggage or hold, would that exceed 20kg limit? So many questions.

I get many emails with amazing true stories sent to me. Invariably if you do a search you find they are nothing of the sort. Most people just forward them on without checking and a whole urban myth gets perpetuated.

chris_m

sabretoothtigger wrote: »

Problem with FI is how do they get the oil back out to somewhere usefull

This is the thing that gets me with Argentina's standpoint on potential oil in the Falklands Basin.
Instead of persistantly insisting that the islands are theirs and refusing to allow British shipping to use their waters, they could do very nicely out of it by providing facilities - at a price, obviously. I would have thought most companies would be happy to pay for suitable facilities along the nearest mainland coastline instead of having to ship materials and personnel thousands of miles from, presumably, Ascension Island.

It doesn't seem to have done Aberdeen any harm with North Sea oil.

chris_m

jimjames wrote: »

TBH It sounds like a rumour started by someone to up a price.

Direct flights from Gatwick to Stanley?

Good point, AFAIK the only scheduled flights to/from Stanley are RAF from Brize Norton (via Ascension Island), LAN to Santiago, Chile (via Punta Arenas) with a once-a-month stop at Rio Gallegas, Argentina.
Nothing from this hemisphere is going to be direct, anything with sufficient range is too big to land at Stanley, let alone take off again.

noh

Apparently there is a weekly oil industry charter from Gatwick to RAF Mount Pleasant on the Falklands via Ascension. Operated by a company called HiFly.
Apparently seats bookable via the Falklands Island government.
Info found here:-
http://www.pprune.org/airlines-airports-routes/226299-gatwick-43.html

blackrat779

Any thoughts on DYOR? See initial post