Desire Petroleum Spuds Well at Ninky Prospect Off Falkland Islands

Desire Petroleum plc the oil and gas company wholly focussed on the North Falkland Basin announces that the 14/15-3 exploration well on the Ninky prospect was spudded at 02.45 BST on 29 March 2011.

The prospect is a combined structural dip and stratigraphic pinch-out trap with multiple reservoir targets within the Barremian source rock interval. The well has a planned total depth of circa 2,620 metres and drilling operations are expected to take approximately 30 days.

A further announcement will be made once logging is complete.

Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM), dedicated to exploring for oil and gas in the North Falkland Basin.

Desire has contracted the Ocean Guardian drilling rig from Diamond Offshore to drill in the North Falkland Basin.

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Source: Desire Petroleum,  March 29, 2011