DES.L Regulatory News (DES)

4 Jun 2007 07:00

Desire Petroleum PLC04 June 2007 For immediate release 4 June 2007 Desire Petroleum plc ("Desire" or "the Company") Environmental Assessment Desire Petroleum plc (AIM:DES) and Rockhopper Exploration plc are pleased toannounce that they have jointly commissioned RPS Energy to carry out anEnvironmental Impact Assessment ("EIA") over the southern part of the NorthFalkland Basin covering Desire's Tranches I and L and Rockhopper's licencesPLO23 and PLO24. An EIA is an essential step in the preparation of a drillingprogramme in the area. The, as yet undrilled, southern part of the North Falkland Basin ischaracterized by a number of significant exploration prospects, the potential ofwhich has been enhanced by the results of the electro-magnetic survey carriedout by Rockhopper over its Ernest prospect. Both Desire and Rockhopper arecontinuing technical studies of the area in order to be able to add to theirdrillable prospect inventories when a rig becomes available. For further information please contact: Desire Petroleum plc 020 7436 0423Colin Phipps, ChairmanDr Ian Duncan, Chief Executive Officer Buchanan Communications 020 7466 5000Ben WilleyTim ThompsonBen Romney Notes to the Editors: Desire Petroleum plc (AIM:DES) is an oil and gas exploration company whollyfocused on the prospective North Falkland Basin. The Company holds large equitypositions in 5 tranches in the area. In 2004, Desire raised £4 million to finance a 3D seismic campaign over itsacreage, followed by a further £25 million in 2005, to finance a multi welldrilling campaign. The Company is presently seeking a rig for this programme. The North Falkland Basin is believed to hold in excess of 2 billion barrels ofoil in place and has an established working hydrocarbon system. Seismic workcompleted in the basin has identified many delta and fan trapping plays, wherehydrocarbons may be located. Desire was formed in 1997 to participate in the drilling campaign in theFalkland Islands with several other companies in 1998. During the campaign, 6wells were drilled, of which 5 wells encountered oil shows - and one wellrecovered live oil to the surface. This information is provided by RNS The company news service from the London Stock Exchange