30 Dec 2011 07:43
For immediate release 30 December 2011
Desire Petroleum plc
("Desire" or the "Company")
14/15-4z: Completion of Sidetrack
Desire Petroleum plc (AIM:DES) the exploration company wholly focused on the North Falkland Basin notes the announcement made today by Rockhopper Exploration plc ("the Operator") regarding the 14/15-4z well. Desire has a 40% carried interest in this well.
According to the Operator, coring and logging operations at well 14/15-4z have been successfully completed.
The sidetrack well 14/15-4z (approximately 12.5m from the main well bore), was drilled to a total depth of 2555m md. A total 115m of core was cut through the hydrocarbon bearing Beverley, Casper South, Casper and Sea Lion reservoirs bringing the total amount of core cut during the entire drilling campaign to 455m (1493ft).
Drilling of the well has completed the commitments required to earn the 60% interest and operatorship of licence PL004b.
The well will now be plugged and abandoned as planned and a further announcement will be issued when the rig is off hire.
For further information please contact:
Desire Petroleum plc | 020 7436 0423 |
Stephen Phipps, Chairman | |
Dr Ian Duncan, Chief Executive Officer | |
Seymour Pierce Limited | 020 7107 8000 |
Jonathan Wright/Stewart Dickson, Corporate Finance Richard Redmayne / Paul Jewell, Corporate Broking | |
Buchanan | 020 7466 5000 |
Ben Romney Tim Thompson |