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Well 14/15-4 Spud and Rig Update

28th Nov 2011 09:46

RNS Number : 8716S
Desire Petroleum PLC
28 November 2011
 



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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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