Falkland Islands: Desire Petroleum Announces Rachel 14/15-1 Exploration Well Spud

Desire Petroleum plc , the oil and gas exploration company wholly focused on the North Falkland Basin,  announced that the Rachel 14/15-1 exploration well was spudded at 15:45 (BST) on 27 September 2010.

The Rachel prospect is located in Tranche D and has an estimated target depth of 2,850 metres. Drilling operations are expected to take approximately 35 days and a further announcement will be made once drilling is completed.

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.

Desire intends to keep the rig to drill at least a further 2 or 3 wells.

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Source: Desirepetroleum,September 28, 2010,