28 Oct 2010 11:16
For immediate release | 28 October 2010 |
Desire Petroleum plc
("Desire" or "the Company")
Drilling Update
Desire Petroleum plc (AIM: DES), the oil and gas company wholly focused on the North Falkland Basin, wishes to give a further update on the drilling progress to date on the Rachel 14/15-1Z sidetrack well.
The well reached its measured total depth of 3,418 metres on 27 October and the process of pulling out of the drill hole is underway. Once this is complete, logging operations will commence and a further announcement will be made once the logging results are known.
The Company also notes recent press speculation and wishes to confirm that it has not received any approaches concerning a possible offer for the Company.
Enquiries:
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 Communications | 020 7466 5000 |
Ben Romney Tim Thompson |