Rachel North
TIDMDES
RNS Number : 8228V
Desire Petroleum PLC
09 November 2010
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| For immediate release | 9 November 2010 |
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Desire Petroleum plc
("Desire" or "the Company")
Rachel North
Desire Petroleum plc (AIM:DES) the oil and gas company wholly focused on the
North Falkland Basin, wishes to announce that both regulatory and partner
approvals have been granted for Desire to drill the 14/15-2 Rachel North well.
The 14/15-1 well has been plugged and abandoned and the rig is currently waiting
on weather to move to the Rachel North location.
The Rachel North well will be drilled vertically with an estimated total depth
of 3,050 metres. The bottom hole location will be 1.7 kilometres from the Rachel
sidetrack 14/15-1Z bottom hole location. Drilling operations are expected to
last around 35 days.
It is intended that this well will evaluate the sands with oil shows encountered
in the Rachel sidetrack as well as a number of possible additional sands not
seen in the sidetrack.
Desire wishes to thank both the regulatory authorities and its partner
Rockhopper Exploration plc for their speedy approvals to move to the new Rachel
North location.
A further announcement will be made once the well has been spudded.
Enquiries:
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| Desire Petroleum plc | 020 7436 0423 |
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| Stephen Phipps, Chairman | |
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| Dr Ian Duncan, Chief Executive Officer | |
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| | |
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| Seymour Pierce Limited | 020 7107 8000 |
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| Jonathan Wright / Stewart Dickson, | |
| Corporate Finance | |
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| Richard Redmayne / Paul Jewell, Corporate | |
| Broking | |
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| | |
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| Buchanan Communications | 020 7466 5000 |
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| Ben Romney | |
| Tim Thompson | |
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This announcement has been reviewed by Dr Ian Duncan, Chief Executive Officer of
Desire, for the purposes of the current Guidance Note for Mining, Oil and Gas
Companies issued by the London Stock Exchange in June 2009. Dr Duncan is a
Fellow of the Geological Society, Chartered Geologist, and a member of the
American Association of Petroleum Geologists with over 35 years experience in
petroleum exploration and management.
This information is provided by RNS
The company news service from the London Stock Exchange
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