Desire Petroleum were formed to drill in the North Falklands Basin, a remote group of islands in the South Atlantic which lie some 200 odd miles off the east coast of Argentina.
The Falkland Islands are a British Colony having been sighted by a British vessel by the name of HMS Desire in 1592 - hence the name of 'Desire' Petroleum.
There are estimated to be at least 60 BILLION barrels of oil in the North Falklands Basin where Desire holds its acreage.
Drilling initially took place in 1998 with a handful of wells drilled which produced mixed results; Desire have since carried out numerous seismic and magnetic surveys on its acreage, hence reducing the risk to any drilling which will take place.................. |
