Falkland Islands: Desire Petroleum Announces Rachel Prospect Drilling Update

Desire Petroleum plc , the oil and gas company wholly focussed on the North Falkland Basin, wishes to provide an operational update on the 14/15-1Z sidetrack well on the Rachel prospect.

Due to wellbore stability issues through the deviated section of the wellbore (forty degree hole inclination) it was not possible to reach the target depths in the first wireline logging run. The hole is now being cleaned out prior to making a further attempt.

A further update will be provided in due course.

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

[mappress]

Source: Desire Petroleum, November 1, 2010