DES.L Regulatory News (DES)

10 Mar 2005 07:01

Desire Petroleum PLC10 March 2005 Desire Petroleum plc ("Desire" or "the Company") Appointment of Chief Executive The Board of Desire is pleased to announce that Dr. Ian Duncan, currently aNon-executive Director of the Company, has accepted the post of Chief Executivewith effect from 14th March 2005. Following the successful fundraising from the Company's Placing and Open Offer,the results of which were announced today, it is the intention of your Board tooperate a three-well drilling programme in Tranches C and D in the NorthFalkland Basin, rig tenders for which have already been sent out. Theco-ordination and control of such an operation, together with liaison withRockhopper Exploration (Oil) Limited, which we have agreed terms with, requiresthe full-time, hands-on oversight of the Company and Dr. Duncan will fill thisrole. Dr. Duncan, a geologist, has over thirty-years' experience in the oil and gasindustry, previously with Exxon and Clyde Petroleum, and has direct and relevantexperience in the operation of exploration programmes. In addition to theselection of a suitable drilling rig, he has already begun the process ofselecting suitable consultants and contractors to implement the Company'sdrilling programme. Enquiries: Colin Phipps, Chairman: 020 7409 2138 Richard Redmayne, Seymour Pierce Limited: 020 7107 8000Ewan Leggat, Seymour Pierce Limited This information is provided by RNS The company news service from the London Stock Exchange