3D Seismic Survey Update

12 May 2005 07:01

Desire Petroleum PLC12 May 2005 Desire Petroleum plc ("Desire Petroleum") 3D Seismic Data Update As previously announced, Desire Petroleum, has identified seven drillinglocations on Tranches C and D , in the North Falkland Basin. At four of theselocations, dual targets have been identified, resulting in eleven prospects intotal. These prospects have a potential of over two billion barrels ofrecoverable oil. Further recent interpretation of the 3D seismic data has yielded a further fiveprospects. Three of these can be tested at the drilling locations alreadyidentified. In addition, numerous less well defined leads have been identifiedwhich will require further work before they can be moved to prospect status. Dr Ian Duncan, Desire CEO, commented "The more we work on the 3D seismic data,the more prospectivity we see in this basin. The identification of these fivenew prospects means that in the planned three well drilling campaign, all of thewells will have dual objectives." Enquiries: Dr. Ian Duncan, CEO, Desire Petroleum plc: 01684 568 993Richard Redmayne, Seymour Pierce Limited: 020 7107 8000Ewan Leggat This information is provided by RNS The company news service from the London Stock Exchange