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Financial Times: Falkland Oil leads surge

By Robert Orr and Neil Hume
Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00

Falkland Oil & Gas spearheaded a surge in shares of companies operating in and around the South Atlantic islands as the exploration group said it was near to a deal with a resource company. The potential partner remains unknown, although Shell of the UK and Brazil’s Petrobras have shown interest in the area.

While Falkland jumped 52 per cent to 123p, Borders & Southern Petroleum rose 22.5 per cent to 34p, Rockhopper Exploration added 15 per cent to 46p and Desire Petroleum gained 14.2 per cent to 32¼p. Falkland Islands, a holding company that owns a 16 per cent stake in Falkland, rose26.2 per cent to 385p.

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