Page 12 - LatAmOil Week 10 2022

LatAmOil FALKL AND ISL ANDS LatAmOil

It will consist of up to 69,156,926 new ordinary of the shares to trading on the AIM.
shares that will be offered to qualifying share- Borders & Southern did not say when it
holders in Borders & Southern at the issue price expected to wrap up the new share issues. How-
of GBP0.013 each and at an implied rate of one ever, it did state that it would use the proceeds
new ordinary share for every seven ordinary of the $1.8mn funding campaign “to continue
shares now held. to explore the best options to appraise and
If these two new issues go forward, they will develop its Darwin gas/condensate discovery,
account for about 21% of Borders & Southern’s as well as for general working capital purposes.”
total share capital. The company made its first hydrocarbon find at
These two share issues are subject to the Darwin in 2012, while drilling an exploration
approval of shareholders at the company’s next well known as 61/17-1. The well appears to have
general meeting, which is likely to be scheduled tapped into a reservoir that contains light crude
soon. It is also conditional upon the admission oil. ™

ARGENTINA
Argentina reportedly in discussions

with several potential LNG suppliers

ARGENTINA’S Economy Minister Martin much LNG Argentina was looking to buy this
Guzman said during the CERAWEEK confer- winter. Reuters noted, though, that the South
ence in Houston on March 9 that Buenos Aires American state was on track to purchase more
was holding discussions with several companies LNG in 2022 than it did last year. It also noted
on an LNG supply deal for the coming winter. that this year’s import bill was likely to be consid-
In an interview with Reuters, Guzman erably higher, given that global fuel and energy
acknowledged that Argentina, along with many prices have risen significantly since the end of
other countries that rely on imports to cover fuel the last winter in the Southern Hemisphere.
and energy demand, had been affected by the Argentina has been importing LNG on a
supply concerns that have gripped world energy seasonal basis, buying fuel on the open market
markets since Russia’s invasion of Ukraine in via tenders and using the volumes acquired in
late February. He stressed, though, that officials this fashion to meet demand when it peaks dur-
in Buenos Aires expected to strike a deal that ing the winter. It hopes eventually to become a
would meet the country’s needs. net gas exporter but will not be in a position to
“We have several options,” he said. “We will achieve this aim until it puts in place the infra-
be able to find the needed LNG.” structure needed to develop its vast unconven-
He did not name any of the companies tional reserves, most of which are in the Vaca
involved in the negotiations or say exactly how Muerta shale formation.

Argentina imports LNG via the Escobar terminal (Photo: Excelerate)

P12 www. NEWSBASE .com Week 10 10•March•2022