nd Oil and Gas Ltd. are drilling two exploratory wells each this year in much deeper water south of the islands. It's high-risk, high-reward, costing them $1, http://gyqixing.5d6d.com/ - http://gyqixing.5d6d.com/ .3 million a day with less than a 25 percent chance of success. But a big strike could prompt a rush to join what might be one of the world's last new sources of fossil fuels in an era of peak oil. The southern basin could hold ten times more than the Sea Lion field's estimated 450 million barrels, with a potential payoff soaring above $100 billion, according to Edison Investment Research, a London-based financial analysis firm that published an optimistic "Falkland oils" report last month. "It's a game-changer for the Falklands," said John Foster, a British board member of the Falkland Islands Company, http://www.cheaptomsoutlet0.com - toms sale , the islands' largest private employer and a minority shareholder in Falkland Oil and Gas. The money could go a long way in the rocky, wind-swept islands, where just a few gravel roads connect remote settlements to Stanley, the only town. They need a permanent port for bigger oil, fisheries and cruise ships, http://educatorstudio.com/subject/burberry-pas-cher-banco-do-brasil-%E2%80%93 - http://educatorstudio.com/subject/burberry-pas-cher-banco-do-brasil-%E2%80%93 , and hotels and paved roads so visitors can stay long enough to see historic sites and wildlife. Expanded drilling will require a dedicated fresh water system, and economic growth will require more windmills for the wind energy that already provides a third of the islands' electricity. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, http://yuanlimazu.com/viewthread.php?tid=322942&extra= - http://yuanlimazu.com/viewthread.php?tid=322942&extra= , please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download.
By COLLEEN BARRY, Associated Press MILAN (AP) Italian bank Intesa SanPaolo on Thursday reported losses of euro8.2 billion ($10, http://www.cheaptomsshoesoutletstor.com - cheap toms .71 billion) for 2011 due to heavy writedowns, but said it would still pay shareholders a dividend. The bank said in a statement that the euro10.2 billion writedown included losses on Greek bonds and a one-off payment to Italian tax authorities. The loss will have no impact on cash flow and future profitability, it said. Without the writedowns, Italy's second-largest bank by assets would have recorded 2011 earnings of euro2 billion, down 24.5 percent from 2010 when net income was euro2.7 billion. CEO Enrico Tommaso Cucchiani who took over in November when Corrado Passera left the bank to join the new Italian government of technocrats conceded that the figure of the writedown sounded "shocking." "When we analyze it, we see it means very little, to the extent it has no impact whatsoever on capital ratios, http://www.cheaptomsoutlet0.com - cheap toms , on cash flow and liquidity and on real profitability," Cucchiani told an investor conference call. Intesa SanPaolo said its core Tier 1 capital ratio, a key measure of a bank's health where capital is measured against the sum of riskier assets, was 10.1 percent. It proposed a dividend of euro0.05 a share. In the fourth quarter, the bank reported a net loss of euro10.1 billion, compared with a net income of euro505 million in the same period of 2010. The bank said it expects to maintain the Core Tier 1 ratio above 10 percent t
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