1 Apr 2010 15:15
For immediate release 1 April 2010
Desire Petroleum plc
("Desire" or "the Company")
Drilling Update
Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.
From the interpretation of the logs received to date, it appears that the deepest play type is still undrilled and Desire's intention is to drill around a further 200 metres to test this play subject to operational constraints.
Wireline logging and sampling have been completed on the lower section of the well, primarily below 3,400 metres where the deeper gas shows were encountered. Petrophysical interpretation indicates that gas pay has been penetrated but that the reservoir quality in this section is poor.
Wireline sampling and pressure recording has still to be carried out on the primary Liz target and a number of other zones where hydrocarbon shows were encountered.
Final completion of the well is expected late next week.
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 |
|
| Buchanan Communications | 020 7466 5000 |
| Tim Thompson |
|
| Ben Romney |
|
NB: This statement has been approved by Dr Ian Duncan of Desire Petroleum plc, who is a Fellow of the Geological Society, a member of the Petroleum Society of Great Britain and a member of the American Association of Petroleum Geologists, with over thirty-five years experience in petroleum exploration and management.