Address
Mathon Court
Mathon
Malvern
Worcestershire
WR13 5NZ
United Kingdom
http://www.desireplc.co.uk
Email
dpl@desireplc.co.uk
Description
Desire Petroleum plc (AIM:DES) is an oil and gas exploration company wholly focused on the prospective North Falkland Basin. The Company holds large equity positions in 5 tranches in the area.
In 2004, Desire raised £4 million to finance a 3D seismic campaign over its acreage, followed by a further £25 million in 2005, to finance a multi well drilling campaign. The Company is presently seeking a rig for this programme.
The North Falkland Basin is believed to hold in excess of 2 billion barrels of oil in place and has an established working hydrocarbon system. Seismic work completed in the basin has identified many delta and fan trapping plays, where hydrocarbons may be located.
Desire was formed in 1997 to participate in the drilling campaign in the Falkland Islands with several other companies in 1998. During the campaign, 6 wells were drilled, of which 5 wells encountered oil shows – and one well recovered live oil to the surface.