5 Oct 2009 07:00
| For immediate release | 5 October 2009 |
Desire Petroleum plc
("Desire" or "the Company")
Publication of Competent Person's Report
Over 3 billion barrels of unrisked prospective recoverable resources net to Desire in top ten prospects.
Desire Petroleum (AIM:DES) the exploration company focusing on the North Falkland Basin is pleased to announce the conclusions of a recently completed Competent Person's Report (CPR) on the Company's prospects.
The CPR was prepared by Senergy (GB) Limited, a major independent consultancy specialising in reservoir engineering, geology, geophysics and petroleum economics. Desire commissioned Senergy (GB) Limited to produce the CPR to confirm Desire's firmly held belief in both the prospectivity of the North Falkland Basin and particularly the robustness of the Company's oil and gas prospects. Senergy evaluated Desire's top ten prospects namely the Liz, Ann, Alpha, Dawn, Jacinta, Beth, Ninky, Rachel, Helen and Pam prospects.
The key conclusions are as follows:
The CPR summary is attached to this announcement.
A full copy of the CPR report, with all the associated figures and tables that are referred to in the summary, can be found on the Desire website : www.desireplc.co.uk.
Commenting on the CPR, Stephen Phipps, Chairman of Desire said:
"It is particularly pleasing to have our own work on the prospectivity of the North Falklands Basin, and of our own prospects, endorsed by a well respected independent energy consultant. We look forward with great excitement to the forthcoming drilling campaign."
For further information please contact:
| Desire Petroleum plc | |
| Stephen Phipps, Chairman Ian Duncan, Chief Executive Officer | 020 7436 0423 |
| Seymour Pierce Limited Jonathan Wright Richard Redmayne | 020 7107 8000 |
| Buchanan Communications | 020 7466 5000 |
| Ben Willey Ben Romney |
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1944A_1-2009-10-2.pdf