DES.L Regulatory News (DES)

30 Apr 2008 07:05

Desire Petroleum PLC30 April 2008 For immediate release 30 April 2008 Desire Petroleum plc ("Desire" or "the Company") Directorate Change Desire Petroleum plc (AIM : DES), the exploration company wholly-focussed on theNorth Basin of the Falkland Islands, announces that, further to the announcementof the Company's annual results today, Dr. Colin Phipps will be stepping downfrom the Board, due to ill health, with immediate effect. The Board is also pleased to announce that Stephen Phipps, a currentnon-executive director, will become the new Chairman of Desire Petroleum plc. Colin Phipps has been Chairman of Desire since he founded the Company in 1996and, during this time, has led the Company through the first explorationcampaign to be completed in the Falkland Islands in 1998. This was followed bythe building of an extensive acreage position in the North Falkland Basin. Desire now has an exciting portfolio of 18 exploration prospects across 5licences, most of which are drill-ready after significant technical work todelineate and derisk its prospect inventory. Commenting on the retirement of Colin Phipps, Ian Duncan Chief Executive Officerof Desire said: "Under Colin's leadership Desire has grown into an exciting exploration Companywith a leading position in the Falkland Islands. We thank him for the many yearsof hard work completed on behalf of the Company and its shareholders. We arealso pleased that Stephen has taken on the role of Chairman, which ensurescontinuity of the business in the future." For further information please contact: Desire Petroleum plc 020 7436 0423Stephen Phipps, ChairmanDr Ian Duncan, Chief Executive Officer Buchanan Communications 020 7466 5000Ben WilleyBen Romney This information is provided by RNS The company news service from the London Stock Exchange