28 Nov 2011 09:46
For immediate release 28 November 2011
Desire Petroleum plc
("Desire" or the "Company")
Well 14/15-4 Spud and Rig Update
Desire Petroleum Plc (AIM:DES) the exploration company wholly focused on the North Falkland Basin notes the announcement made today by Rockhopper Exploration Plc (Rockhopper) regarding the spud of the 14/15-4 farm-in well on Licence PL004b on Monday November 28. Following the completion of this well Desire will have a 40% interest in the Licence, with Rockhopper having the balance.
The well is designed to investigate reservoir presence and hydrocarbon charge towards the southernmost mapped limit of the Sea Lion field and is located approximately 12.1 km to the south west of the 14/10-2 discovery well and 6.3 km to the south of well 14/10-9.
The well is also an exploration well on the Beverley prospect.
Rockhopper intends to drill to TD then subsequently sidetrack to core should significant hydrocarbon charged reservoir be encountered in either the Sea Lion Main Complex or Beverley. Initial drilling and logging operations are expected to take approximately 20 days.
Rig Update
The 14/15-4 well will be the final well drilled by the Ocean Guardian rig under the Desire Petroleum contract during the current North Falkland Basin drilling campaign.
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/Stewart Dickson, Corporate Finance Richard Redmayne / Paul Jewell, Corporate Broking | |
Buchanan | 020 7466 5000 |
Ben Romney Tim Thompson |