BORGNY DOLPHIN PROGRESS UNDER WRAPPS
By J. Brock (FINN)
There should be approximately ten days drilling left for the Borgny Dolphin, which spudded on Saturday, 06 June 1998. Understandably Lasmo, the company who now
leases Borgney Dolphin, is not releasing any information about what they are finding and this is for good reason.
The previous leasers of Borgny Dolphin, Amerada Hess, released information that minor hydrocarbon indicators were found whilst drilling in the North Falklands Basin and,
try as they might to stop it, speculative reporting caused a roller-coaster reaction for Desire Petroleum stocks on the Alternative Investment market (AIM).
At best, there is a one in 10 chance of finding oil, let alone any in commercially viable quantities. With the price of oil fluctuating around $12.00 PBO, it might not be
feasable to extract the oil which is found in the North Falklands Basin.
We will not know about the Lasmo well, however, until the drilling project is complete. There could be good news so it would be silly to sell any stocks while the prices are
at their present low. The best advice would be to hang on to your stocks until the planned test wells and any others are drilled and all of the information and data collected
and published. It is then that the best decision about what to do with your stock can be made.
If you can afford to invest, then it makes sense to see the project through. |
