DES.L Regulatory News (DES)

19 Jun 2007 07:01

Desire Petroleum PLC19 June 2007 For immediate release 19 June 2007 Desire Petroleum plc ("Desire" or "the Company") Update on Site Survey Data Acquisition Desire Petroleum plc (AIM:DES) announces that Wavefield InSeis ASA has acquiredthe majority of the high resolution seismic data, for site survey purposes atthe Ann prospect location. Processing of the data will commence shortly. Wavefield has sailed to Montevideo in Uruguay to commence another contract andit is hoped to complete the site survey programme later this year, when thevessel returns to the Falkland Islands. 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. This information is provided by RNS The company news service from the London Stock Exchange