DES HISTORY9 Mar 2013 13:34
2010-11 drilling programme
In February 2010 Desire began a programme of exploratory drilling, with costs shared by farming out drilling slots to Rockhopper Exploration (of Salisbury, Wiltshire) and Falkland Oil & Gas Ltd, in the North Falkland Basin. In the northern section of the basin this covers the prospects of Rachel, Kath, Pam, Ann, Anna, Liz, South Orca, Ninky, Beth, Jayne and Helen. In the southern section are Dawn, Alpha, Kate, Ruth and Barbara.
Entrance to Mathon Court, headquarters of Desire Petroleum
The first well was categorised as a gas discovery,[1] with one other gas event and two sets of oil shows encountered. Stock market disappointment that the first well was not an immediate commercial discovery of oil led to an immediate slump in share price, though Desire continue to analyse the data gathered in order to assist with the remainder of the drilling programme.
The second well, drilling for partner company Rockhopper Exploration, was an oil discovery which further confirmed the geological model for the North Falkland Basin for Desire and Rockhopper's remaining prospects.[2]
The drilling programme is anticipated to run to ten exploration wells.