Desire Petroleum to go ahead with Falkland drilling
Monday, 6 December 2010
FALKLAND ISLANDS, Dec 5 (Commodity Online): Desire Petroleum, which has staked shareholder capital on finding commercially viable quantities of oil in the South Atlantic's North Falkland Basin, said its latest drilling held promise of a discovery it could work with.
The company made the announcement after fresh drilling of the so called 14/15-2 Rachel North well reached a new depth of about 10,000 feet.
Desire Petroleum plc, a UK company listed on the Alternative Investment Market, was one of the first prospectors to enter the fray but has trailed other companies actively seeking to strike significant oil below the North Falkland Basin seabed.
The company made the announcement after fresh drilling of the so called 14/15-2 Rachel North well reached a new depth of about 10,000 feet.
Desire Petroleum plc, a UK company listed on the Alternative Investment Market, was one of the first prospectors to enter the fray but has trailed other companies actively seeking to strike significant oil below the North Falkland Basin seabed.