@Dan
Not so sure mate #1
"The news that the seabed around the Falklands might contain rich oil deposits was first conveyed to a British government in 1969. Richard Crossman, then a member of the cabinet, recorded in his diary his surprise at the fact that "the Foreign Office said that the only thing to do was to conceal the suggestion and prevent any testing". What the FCO feared was that exploration would aggravate the territorial dispute with Argentina. In public, British politicians maintained a show of confidence in Britain's legal sovereignty over the islands, just as they do again now in the face of Argentinian protests over the drilling rig in the north basin. In private, they were less sure. In 1936, John Troutbeck, head of the FCO's American department, wrote a memo summarising the problem. The difficulty of Britain's position was that "our seizure of the Falkland Islands in 1833 was so arbitrary a procedure as judged by the ideology of the present day. It is therefore not easy to explain our possession without showing ourselves up as international bandits."
http://www.guardian.co.uk/theguardian/2010/feb/27/falklands-oil-dispute-ian-jack
Not so sure mate#2
They have one of the better fighter pilots in the world.
http://www.youtube.com/watch?v=IUZu8bvxJs4
http://www.youtube.com/watch?v=5VPkJWWGn3o&NR=1
http://www.youtube.com/watch?v=Eo0BNYGgEV4
But now Argentina has modern missiles, satellites, etc
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