MercoPress. South Atlantic News Agency

Desire Petroleum PLC - Additional Listing

Desire Petroleum plc announces that it has raised #450,000 (net of expenses)by way of a placing for cash of new ordinary shares of 1p each at 14.5p pershare.

These funds will provide additional working capital for the Companywhich is due to participate in side-tracking the Aljubarrota No.2 well, inPortugal, in early summer this year. Gas was discovered at the AljubarrotaNo.2 well in the Brenha Limestone Formation and the sidetrack is designed toappraise the extent of the discovery and the production characteristics of thereservoir. Drilling the sidetrack from the same location as the AljubarrotaNo.2 well should reduce costs.

The 2000 kilometres of new seismic data acquired over the North Falkland Basinhave been processed and will shortly be interpreted. It is expected that theresults will help to refine the dimensions of several major, prospectivestructures on the Desire Tranches and will further enhance the potential ofthe Basin for oil discoveries.

The shares will rank pari passu in all respects with the existing shares ofthe Company. Application has been made for the 3,103,450 shares to beadmitted to trading on AIM; admission is expected to become effective on 20thApril 2001