Falklands War Redux?

So far it doesn't appear as though the British battleships will be sent, but there's definitely friction.
Argentina is being about as aggressive as they can be to deter the British from their dreams of oil in the Falklands.
They estimate the oil reserves are on par with the North Sea oil, so someone is going to cash in.

The British military and the Foreign Office are stepping up surveillance of Argentinian naval action following the threat from Buenos Aires to blockade the Falkland Islands.

The imminent arrival of a British company’s oil rig in the area is an immediate source of friction between the two countries, which has reignited 28 years after the war with the discovery of rich petroleum and gas reserves around the islands.

The Argentinian government has declared that it was taking control of all shipping between its coastline and the disputed islands it calls Islas Malvinas and the adjoining South Georgia, a claim promptly rejected by the UK.