AGP Executive Report

Falklands Sovereignty Pressure: Argentina’s president Javier Milei issued a fresh “tooth and nail” warning to the UK over the islands, calling the Malvinas “sacred” and preparing a televised address as the US signals it may “review” its stance. Oil & Legal Risk: Argentine environmental lawyers and Falklands war veterans filed a lawsuit to block the British-Israeli Sea Lion project, arguing it threatens both sovereignty and South Atlantic ecology. UK–US Defence Fallout: UK officials pushed back after Donald Trump said he “always review[s] every position” on the Falklands, while Chancellor John Healey said the government will set a clear path to defence spending targets, including 3.5% of GDP by 2035 and a route to 3%. Maritime Readiness: A UK study warns the civilian ship requisition system may struggle in a crisis, with the militarily useful merchant fleet nearly halved since 2009. Local Economy & Tourism: A new free “Explore Falkland Islands” app is now available for residents and visitors, and Punta Arenas is hosting a late-September business networking event to strengthen a second shipping link. Fisheries Watch: The second loligo season has been closed early due to low squid biomass, with companies saying problems were flagged for years.

Falklands sovereignty pressure: US President Donald Trump says he is “reviewing” the US position on the Falkland Islands, while insisting the UK will “get solved” on defence spending—prompting a sharp UK rebuttal that the islands remain British overseas territory with islanders’ self-determination unchanged. Defence spending fallout: UK chancellor John Healey says the government will set out a clear path to NATO funding at the spending review, aiming for 3.5% of GDP by 2035 and a route back to 3%—after earlier pledge delays and mounting political pressure. Local business link: Punta Arenas is hosting a Falklands–Magallanes “Business Showroom” (28–29 Sept) to connect firms across sectors, with support available via the FIDC Business and Trade Delegation Grant. Tourism tech: The Falkland Islands Tourist Board has launched a free “Explore Falkland Islands” app for residents and visitors, highlighting landmarks and wildlife. Fishing sustainability: Government has closed the second loligo season due to low squid biomass, citing catch-data analysis and precautionary steps for the 2027 season. Oil finance: Rockhopper Exploration plans an equity raise to fund its share of a second FPSO for the Sea Lion project after Navitas exercised an option to acquire the OSX-1 vessel for about US$125m. Green funding: FIDC reports £892,000 injected through its Green Business Programme over three years, with 79% of 2025–26 green grants/loans going to businesses and homes in Camp.

Falklands sovereignty under pressure: Donald Trump says he is reviewing US support for Britain’s sovereignty over the Falkland Islands, with reports that Washington could use the dispute to push the UK to lift defence spending—adding fresh strain to the “special relationship” as UK ministers juggle delayed defence targets. Defence spending delay in focus: UK Chancellor John Healey insists defence remains central, but the government has shelved the 3% of GDP pledge for 2030 in the run-up to his October Budget, with a later path to higher spending expected at the next spending review. Oil finance for Sea Lion: Rockhopper Exploration plans an equity raise to fund its share of a second FPSO for the Sea Lion field after Navitas exercised an option to acquire the OSX-1 vessel for about US$125m. Green funding boost: The Falklands’ 3-year Green Business Programme has injected £892,000 into the Islands economy, with 79% of green grant/loan money in 2025-26 going to businesses and domestic properties in Camp. Aviation reshoring milestone: Britten-Norman’s first fully UK-built Islander (for FIGAS) has begun ground testing at Bembridge ahead of a September first flight, with a second airframe progressing behind it. Trade links to Chile: A Chilean shipping line is pushing a regular Falklands–Punta Arenas link and a late-September Expo of Islands and Chilean products, with local business groups backing the push.

Falklands Sovereignty & Defence Pressure: The UK says its Falklands position is “long-standing and unwavering” after reports the US could reconsider support for British sovereignty unless London boosts defence spending, with Pentagon officials reportedly weighing “special attention” for the UK as NATO pushes higher targets. Oil & Shipping Investment: Rockhopper plans an equity raise to fund its share of a second Sea Lion FPSO (OSX-1) after Navitas exercised an option for a vessel costing about US$125m, while Borders & Southern says Sea Lion momentum is sharpening investor focus as it advances a farm-out for its Darwin discovery. Green Programme Funding: The Falkland Islands Development Corporation has injected £892,000 through the 3-year Green Business Programme, with 79% of grant/loan financing in 2025-26 going to businesses and homes in Camp. Aviation Reshoring Milestone: Britten-Norman’s first fully UK-built Islander (BN2B-26) has begun ground testing at Bembridge ahead of a September first flight for FIGAS, with a second aircraft already in build. Local Trade Links: A Chile–Falklands regular commercial maritime link is being pushed by Easter Island Naviera, alongside plans for an Expo in Punta Arenas to promote Islands products. Fisheries Update: The Falklands Fisheries Department has closed the second Loligo squid season just days after reopening, citing low biomass and precautionary steps ahead of 2027. Tech Infrastructure Proposal: JETstreaM, a Falklands-registered firm, is proposing a satellite data centre near Pony’s Pass Quarry to route encrypted data to global customers.

Sea Lion Oil Funding: Rockhopper says Navitas has exercised an option to buy a second Sea Lion FPSO, OSX-1, costing about US$125m, with Rockhopper needing extra cash to fund its 35% share and related costs; acquisition is expected next month. Green Programme Impact: The Falkland Islands Development Corporation reports £892,000 injected over three years via its Green Business Programme, with 79% of 2025-26 green grant and loan funding going to businesses and homes in Camp (about £325,000). Aviation Jobs & Capability: Britten-Norman’s first fully UK-built Islander since 1968 has started ground testing at Bembridge, targeting first flight in September and delivery to FIGAS after flight tests and customer prep, with a second airframe already in build. Falklands–Chile Trade Link: Easter Island Naviera is pushing a regular commercial maritime link between the Falklands and Punta Arenas, alongside a late-September Expo of Islands and Chilean products, with FIDC backing and the Chamber of Commerce planning a delegation. Squid Fishery Pause: The Falklands Fisheries Department closed the second Loligo squid season just three days after reopening it, citing low biomass and precautionary steps ahead of 2027. Defence Pressure Politics: Multiple reports say the US may use the Falklands as leverage to push the UK to raise defence spending, while the UK insists its position on sovereignty is “long-standing and unwavering.”

Falklands Defence Pressure: The UK government says its stance on the Falkland Islands is “unwavering” after reports the US could reconsider its diplomatic position to push Britain to lift defence spending, with claims of a possible “ultimatum” and “special attention” for the UK in a wider NATO spending review. AUKUS Polar Security: A new Australian Strategic Policy Institute discussion argues polar competition and resource insecurity are destabilising the Antarctic, and calls for a polar security pillar within AUKUS—linking recent US comments on the Falklands to broader treaty-era risks. Aviation & Jobs: Britten-Norman’s first fully UK-built Islander (BN2B-26) has started ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight trials; the reshored line is also ramping up a second aircraft and growing the workforce. Oil & FPSO Moves: Borders & Southern says investor focus is rising as Sea Lion development accelerates and it advances a farm-out for its Darwin discovery, while Navitas has bought the long-idled OSX-1 FPSO for Sea Lion, aiming for first oil in 2028. Fisheries Shock: The Falklands Fisheries Department has closed the second Loligo squid season just days after reopening it, citing low biomass and precautionary steps ahead of 2027. Trade Link: The Falkland Islands Development Corporation and Chamber of Commerce are backing a new regular commercial maritime link with Chile (Punta Arenas) via Easter Island Naviera, alongside a late-September Expo promoting island and Chilean products. Tech Infrastructure: JETstreaM Ltd is proposing a Falklands-based satellite data centre near Pony’s Pass Quarry to route encrypted satellite data to global customers.

UK–US Defence Pressure: The US is reportedly weighing an ultimatum-style review of its stance on the Falklands, with “special attention” for Britain if it doesn’t ramp up defence spending toward NATO targets. Aviation & FIGAS: Britten-Norman’s first fully UK-built Islander (BN2B-26) has entered ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight trials. Oil & FPSO Momentum: Borders & Southern says investor focus is sharpening as it pushes Sea Lion development and advances talks on a farm-out tied to its Darwin discovery. Sea Lion Supply Chain: Navitas has taken ownership of the long-unloved OSX-1 FPSO for use in the next phase of Sea Lion, with Rockhopper in talks on how it slots into the joint venture. Exploration Fundraising: Rockhopper is seeking about $200m via a share placing/open offer to help fund its pro-rata work for accelerated Sea Lion development. Fisheries Shock: The Falklands Fisheries Department has closed the second Loligo squid season just days after reopening, citing low biomass and concerns for upcoming 2027 measures. Trade Links: A Chile–Falklands regular commercial maritime link is being pushed alongside an Expo in Punta Arenas to promote Islands and Chilean products. Satellite Ambition: A Falklands-registered firm, JETstreaM, is proposing a satellite data centre near Pony’s Pass Quarry to route encrypted data to global customers.

UK-US Falklands pressure: The US is reportedly weighing an ultimatum-style move over the Falkland Islands, with Pentagon officials discussing whether Washington could challenge Britain’s sovereignty claim if the UK doesn’t lift defence spending toward NATO targets. Aviation & jobs: Britten-Norman’s first fully UK-built Islander (BN2B-26) has entered ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight tests. Oil & investment momentum: Borders & Southern says investor focus is sharpening as it pushes Sea Lion development and advances talks on a farm-out of its Darwin discovery; Rockhopper also continues fundraising and Sea Lion value updates. Sea Lion FPSO deal: Navitas has bought the long-idled OSX-1 FPSO for about $125m to support the next phase of Sea Lion, with Rockhopper in talks on how it plugs into the joint venture. Trade link with Chile: A Chilean shipping line is pushing a regular Falklands–Punta Arenas link and a late-September Expo of Islands and Chilean products, with local business groups backing the push. Fisheries management: The Falklands Fisheries Department has closed the second Loligo squid season just days after reopening, citing low biomass and precautionary sustainability concerns. Tech infrastructure pitch: A Falklands-registered firm, JETstreaM, is proposing a satellite data centre near Pony’s Pass Quarry for encrypted data relay to global customers.

Falklands Sovereignty Pressure: The US is reported to be issuing an ultimatum to the UK over the Falklands, linking diplomatic support for sovereignty to faster UK defence spending increases. Aviation & Local Jobs: Britten-Norman has started ground testing the first fully UK-built Islander in decades at Bembridge, with first flight targeted for September and delivery to FIGAS after flight tests. Oil & Investment Momentum: Borders & Southern says investor interest is sharpening as Sea Lion development accelerates, while it continues talks on a farm-out of its Darwin discovery. Sea Lion FPSO Deal: Navitas has agreed to buy the long-idled OSX-1 FPSO for about $125m to support Sea Lion’s next phase, with Rockhopper in talks over how it plugs into the joint venture. New Capital for Falklands Drilling: Rockhopper is aiming to raise about $200m (and separately £132.4m via a placing/open offer) to fund its pro-rata Sea Lion work ahead of accelerated development. Trade Link to Chile: A Chilean shipping line is pushing a regular Falklands–Punta Arenas link and a late-September Expo, with FIDC and the Chamber of Commerce backing the push. Fisheries Update: The Falklands Fisheries Department has closed the second Loligo squid season just days after reopening it, citing low biomass and concerns for the 2027 season. Tech Infrastructure Pitch: A Falklands-registered firm, JETstreaM, is proposing a satellite data centre near Pony’s Pass Quarry to route encrypted satellite data to global customers. Business & Tourism: Atlas Ocean Voyages marks five years since launching World Navigator and signals fleet expansion, with repeat passenger loyalty rising.

Falklands Aviation & Jobs: Britten-Norman’s first fully UK-built Islander in decades has started ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight testing and customer prep; the reshored production line is already building a second airframe and expanding parts manufacture, backed by new machinery and a workforce up more than 40%. Falklands Trade & Expo: Chilean shipping line Easter Island Naviera is pushing a regular commercial maritime link between the Falklands and Punta Arenas, alongside a late-September Expo promoting Islands and Chilean products, with local business leaders saying the initiative is moving fast and needs coordination. Falklands Oil & Investment: Borders & Southern says investor focus is sharpening as Sea Lion development accelerates and it advances talks on a farm-out for its Darwin discovery; meanwhile Rockhopper is raising funds and highlighting Sea Lion valuation gains tied to faster development planning. Sea Lion FPSO Deal: Navitas has exercised an option to buy the long-idled OSX-1 FPSO for about $125m to support Sea Lion’s next phase, with Rockhopper discussing how it will plug into the joint venture. Fisheries Watch: The Falklands closed the second Loligo squid season just three days after reopening it, citing low biomass and precautionary steps ahead of 2027. Energy Tech: A Falklands-registered firm, JETstreaM, plans a satellite data centre near Pony’s Pass Quarry to receive encrypted satellite data and route it to global customers. Local Business & Community: A Chevening Scholarship Falkland Islands call highlights leadership training opportunities in the UK, while a salmon farming proposal continues to spark calls for a referendum over jobs versus environmental risk.

Falklands aviation upgrade: Britten-Norman’s first fully UK-built Islander (BN2B-26) has entered ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight tests and customer prep—part of a reshored production push with a second airframe already progressing. Oil & gas momentum: Borders & Southern says investor focus is sharpening as Sea Lion development accelerates, while it presses talks on a farm-out of its Darwin discovery; meanwhile Rockhopper is raising £132.4m via placing and open offer to fund its Sea Lion share, and Navitas has moved to secure a second FPSO (OSX-1) to boost capacity and speed later phases. Exploration pipeline: Eco Atlantic highlights a 640m-barrel prospective target on PL001, with drilling expected to align with Navitas’s wider North Falklands campaign in early 2027. Fisheries management: The Falklands closed the second Loligo squid season just three days after reopening it, citing low biomass and precautionary measures ahead of 2027 trials. Tech & infrastructure: JETstreaM proposes a Falklands satellite data centre near Pony’s Pass Quarry to receive encrypted satellite data for global customers.

Falklands Fisheries: The Falkland Islands Fisheries Department has closed the second Loligo squid season just three days after reopening, citing low biomass and “very deep concerns” from catch data and exploratory fishing, with mitigation work already being planned for the 2027 season. Aviation & FIGAS: Britten-Norman has started ground testing the first fully UK-built Islander since 1968, with first flight targeted for September and delivery to the Falkland Islands Government Air Service after flight testing—part of a reshored Bembridge production push. Satellite infrastructure: JETstreaM Ltd is proposing a new satellite data centre near Pony’s Pass Quarry, aiming to receive encrypted satellite data and route it to customers worldwide. Sea Lion funding & expansion: Rockhopper Exploration is seeking £132.4m via a share placing and open offer to fund its Sea Lion work, while Navitas has moved to secure a second FPSO (OSX-1) for the project, potentially boosting output capacity and accelerating development. Energy exploration update: Eco Atlantic says Navitas plans a multi-target exploration well on PL001 in early 2027, with a first target estimated at 640m barrels prospective resource (Eco’s share ~225m in a success case).

Sea Lion oil push: Navitas has exercised its option to buy the long-unloved OSX-1 FPSO for about $125m (upgrade costs extra), aiming to expand Sea Lion output and accelerate later phases of the North Falklands development; the vessel is expected to be incorporated into the existing Sea Lion joint venture with Rockhopper, with phase one due on stream in Q1 2028. Falklands drilling outlook: Eco Atlantic says its PL001 licence target could hold 640m barrels prospective resource (2U) and, in a success case, about 225m barrels attributable to Eco, with a multi-target well being considered for early 2027 as Sea Lion infrastructure advances. Funding for Sea Lion partner: Rockhopper Exploration plans to raise £132.4m via a share placing (plus an open offer up to £14.4m) at 70p a share to fund its pro-rata work for Sea Lion development, reiterating first oil targeted for Q1 2028. Aviation for island links: Britten-Norman’s first fully UK-built Islander (BN2B-26) has started ground testing at Bembridge, with first flight targeted for September and delivery to FIGAS after flight testing and customer prep. Local business & jobs: A major retailer, Home Bargains, confirmed all 617 stores will close for three days over Christmas and New Year. Falklands-linked politics abroad: Argentina’s Tierra del Fuego province condemned the docking of the British-flagged tanker VS Promise at Ushuaia, tying it to its wider sovereignty dispute over the Malvinas. Capital markets: UK regulators’ AIM “Capital Access Window” is set to help smaller firms pause trading while raising funds, aiming to improve access to capital.

Falklands Energy: Eco Atlantic Oil & Gas says its PL001 North Falklands target holds an estimated 640m barrels prospective resource, with partner Navitas planning a multi-target exploration well in early 2027, potentially tying back to the Sea Lion development as the wider campaign ramps up. Falklands Oil & Gas Expansion: Navitas is also moving to accelerate Sea Lion by acquiring a second FPSO (OSX-1) for about $125m, aiming to add up to 125,000 barrels per day capacity and speed later phases, with Rockhopper funding its share. Aviation for the Islands: Britten-Norman has begun ground testing the first fully UK-built Islander (BN2B-26) at Bembridge, with first flight targeted for September and delivery expected to FIGAS after flight testing—part of a reshored production push. Local Business/Community: A major UK retailer, Home Bargains, confirmed all 617 stores will close for three days over Christmas and New Year, affecting holiday shopping plans. Governance & Trade Tensions: Argentina’s Tierra del Fuego province condemned the docking of the British-flagged tanker VS Promise at Ushuaia, arguing it violates local rules and sovereignty claims tied to the Malvinas. Capital Markets: UK regulators’ AIM “Capital Access Window” is set to let smaller firms temporarily suspend trading while raising capital, aiming to improve access and reduce share-price swings.

Falklands Oil & Gas: Navitas Petroleum is moving to accelerate Sea Lion after exercising an option to buy a second FPSO, OSX-1, for about $125m (excluding upgrades), aiming to add up to 125,000 barrels a day and speed later phases of the North Falkland Basin project; Rockhopper will fund its share as the pair align the vessel into existing joint venture terms. Falklands Economy: The same Sea Lion expansion is being framed as a major new revenue stream for the islands, with the Falkland Islands Government set to take a 9% royalty and 26% corporation tax on profits. Falklands Politics & Trade: In Argentina, Tierra del Fuego’s provincial government has condemned the docking of the British-flagged tanker VS Promise at Ushuaia, arguing it violates local law and sovereignty claims tied to the Malvinas/South Atlantic dispute. Local Business & Governance: Swale Borough Council in Kent has faced backlash after ordering a taxi firm to remove Remembrance poppies and “Lest We Forget” signs from vehicles, citing licensing rules on what counts as permitted advertising. Capital Markets (UK): Regulators are pushing the AIM “Capital Access Window” to help smaller firms raise cash with a temporary share suspension option, as investors look for a revival of the junior market. Falklands in Sport: FIFA has sanctioned Argentina after World Cup incidents, including a Falklands banner used after the England semi-final, while players involved in the final brawl received multi-game bans.

Oil & Gas Expansion: Navitas Petroleum is moving to accelerate the Sea Lion project in the North Falkland Basin, exercising an option to acquire a second FPSO (OSX-1) for about $125m (excluding upgrades), with the vessel expected to lift capacity by a further 125,000 barrels a day and speed up later phases. Local Economy & Policy: The Falkland Islands Government is set to take a 9% royalty and 26% corporation tax on Sea Lion revenues, pointing to a major new revenue stream as production ramps. Capital Markets: UK regulators have pushed forward the AIM “Capital Access Window,” a voluntary mechanism that could let smaller listed firms temporarily suspend trading while raising funds, aiming to steady access to capital after a tough period for the junior market. Fisheries & Food Security Debate: A proposed mega salmon farming project has sparked controversy in the Falklands, with residents calling for a citizen referendum amid concerns over environmental impacts and the quality of the information used in assessments. Argentina Port Tensions: Tierra del Fuego condemned the docking of the British-flagged tanker VS Promise at Ushuaia, arguing it violates provincial rules and highlights ongoing sovereignty disputes tied to the Falklands. Sports & Politics Fallout: FIFA has imposed major sanctions on Argentina after World Cup incidents, including a 10-match ban and $90,000 fine for Leandro Paredes, plus an AFA fine of $321,000 linked in part to a Falklands banner.