Desire Petroleum plc Press Release

Thursday, November 3rd 2011 - 08:03 UTC

Full article 7 comments

The Ocean Guardin can be utilise by Desire until the end of the contract

Desire Petroleum plc (AIM:DES), the exploration company focusing on the North Falkland Basin, announces that the rig contract with Diamond Offshore Drilling (UK) Ltd for use of the drilling unit the Ocean Guardian for operations in the North Falkland Basin has been amended.

Under the amended contract an undefined number of optional wells may be drilled up to 1st March 2012, at which time the Ocean Guardian will leave the Falklands on a long term contract with another operator. Desire must declare the exercise of such options on or before the spud of the previous well in the campaign.

The rig is currently drilling well 14/10-9 for Rockhopper Exploration PLC who have announced they will follow this with a well on the Desire farmin area PL004b.

Desire is investigating all the possibilities to utilise the Ocean Guardian until the end of the contract.

Categories: Investments, Falkland Islands.

Tags: Desire Petroleum, Falkland Islands, Ocean Guardian, Rockhopper Exploration.

Financial Tags: DES, RKH.

Top Comments

Disclaimer & comment rules

so_far
What a way to spend taxpayers' money ..... nonsense.

We are talking about millions and millions that can be better used.
Nov 03rd, 2011 - 02:22 pm 0
Think
Wooooooooow………….

There must be so much “Black Gold” in this new “North Falkland Basin Oil Province” that they don’t even need drilling units like the Ocean Guardian to find it………….

Or maybe not…………

Chuckle chuckle®
Nov 03rd, 2011 - 09:24 pm 0
SamSalzman
Well, by the amount of whining Argentina has done over the last year or so on this issue, it would be ironic if they found none after all. The Falklanders explored their region's possibilities, and they may come up trumps. Or not. You win some, you lose some. Either way, since your president chewed up the mutual agreement between the Falklands and Argentina on oil in a fit of rage, no doubt after running out of carpet to chew, you stand to gain nothing from it whatsoever.
Nov 03rd, 2011 - 10:56 pm 0

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