Falkland Islands: Desire Petroleum Announces Rachel Well Drilling Update

Desire Petroleum plc, the oil and gas company wholly focused on the North Falkland Basin, provides  further update on the drilling progress to date on the Rachel 14/15-1Z sidetrack well.

The well reached its measured total depth of 3,418 metres on 27 October and the process of pulling out of the drill hole is underway.  Once this is complete, logging operations will commence and a further announcement will be made once the logging results are known.

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

The Company also notes recent press speculation and wishes to confirm that it has not received any approaches concerning a possible offer for the Company.

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Source: Desire Petroleum, October  28, 2010;