UK oil exploration firm starts Falklands drilling

[Adam Foxton]

This really is an idiotic move by the Argentinians, really.

By showing that they’ll not accept that it’s our oil they’ve just ruled out us taking a pipeline through their country- we just can’t trust them. So they’ve lost any chance of having a hold over us in the future.

As said previously, Mexico should start demanding Texas back. I mean Texas used to be a part of Mexico before the USA "annexed" it, so it’s even got a better claim!

And Hilary Clinton’s comments should be met with a rebuttal from the PM stating that we will not negotiate- the matter was sorted almost 30 years ago and stands as it has done continuously since 1833 (12 years longer than Texas has been part of the USA, actually).

[Craig Thorngren]

Foxton/Rabsky,

Why don’t we try toning down the American bashing. All its going to do is make you look like a horse’s arse when you come back asking for help… That and i’m sure your not aware, but most people in the States happen to agree with you that she should have kept her mouth shut. So why go around pissin on people who are on your side???

Chief

[Scott Beveridge]

Foxton/Rabsky,

Why don’t we try toning down the American bashing. All its going to do is make you look like a horse’s arse when you come back asking for help… That and i’m sure your not aware, but most people in the States happen to agree with you that she should have kept her mouth shut. So why go around pissin on people who are on your side???

Chief

Thank you Chief… yes, many of us Colonials…. errrm… Americans are weary of some of the knee-jerk politics emanating from the hill (in a series of administrations…)

[senior]

What exactly is "friendly" about "friendly fire" 😥

one for all and all for one

Cheers,

Senior $$

[Bacaruda]

Duster???

http://www.desireplc.co.uk/investor_relations_announcements.php?article_id=156

[James McLauchlan]

Below is the article in full (for the above link).

29 March 2010
Desire Petroleum plc
("Desire" or "the Company")

Drilling Update

Due to recent press speculation, Desire Petroleum wishes to announce that the Liz 14/19-1 well, in the North Falkland Basin, has reached a depth of 3570 metres and logging is underway.

The primary Liz target was encountered at around 2550 metres with indications of hydrocarbons while drilling. Subsequent logging operations have shown that oil may be present in thin intervals but that reservoir quality is poor. Wireline sampling is still to be carried out. Deeper gas shows have also been encountered while drilling, particularly below 3400 metres and these have still to be evaluated by wireline logging and sampling.

Until the logging is complete and the results analysed it will not be possible to determine the significance of the hydrocarbons encountered and whether the well will need to be drilled deeper, suspended for testing or plugged and abandoned.

Operations are expected to be completed later this week when a full announcement will be made.

For further information please contact:

Desire Petroleum plc
020 7436 0423
Stephen Phipps, Chairman
Dr Ian Duncan, Chief Executive Officer

Seymour Pierce Limited
020 7107 8000
Jonathan Wright
Christopher Wren

Buchanan Communications
020 7466 5000
Tim Thompson
Chris McMahon

More at: http://www.desireplc.co.uk

[James McLauchlan]

From: http://www.bgs.ac.uk/falklands-oil/whats_new.htm

February 2010

Oil rig Ocean Guardian commenced exploratory drilling operations offshore the Falkland Islands on 22nd February. The rig is contracted to Desire Petroleum plc which has a licence to drill in the North Falkland Basin. On completion of this initial Desire Petroleum well, the rig will drill a well for Rockhopper Exploration plc in their licensed acreage.

Picture of oil rig Ocean Guardian courtesy of
Diamond Offshore Drilling International

[James McLauchlan]

Desire Petroleum plc

("Desire" or "the Company")

Drilling Update

Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.
From the interpretation of the logs received to date, it appears that the deepest play type is still undrilled and Desire’s intention is to drill around a further 200 metres to test this play subject to operational constraints.
Wireline logging and sampling have been completed on the lower section of the well, primarily below 3,400 metres where the deeper gas shows were encountered. Petrophysical interpretation indicates that gas pay has been penetrated but that the reservoir quality in this section is poor.
Wireline sampling and pressure recording has still to be carried out on the primary Liz target and a number of other zones where hydrocarbon shows were encountered.
Final completion of the well is expected late next week.
For further information please contact:

Desire Petroleum plc 020 7436 0423

Stephen Phipps, Chairman
Ian Duncan, Chief Executive Officer

Seymour Pierce Limited
Jonathan Wright
020 7107 8000
Buchanan Communications 020 7466 5000

Tim Thompson
Ben Romney

NB: This statement has been approved by Dr Ian Duncan of Desire Petroleum plc, who is a Fellow of the Geological Society, a member of the Petroleum Society of Great Britain and a member of the American Association of Petroleum Geologists, with over thirty-five years experience in petroleum exploration and management.

[andyrose]

Tell me about it. I was there.

If you get there the Highland Goose in Port Stanley is the preffered establishment – well it was in 1982!

Andy

[James McLauchlan]

Tell me about it. I was there.

If you get there the Highland Goose in Port Stanley is the preffered establishment – well it was in 1982!

Andy

Probably saw you in there 😉

[zincanode]

Having spent 2 winters offshore (84 & 85) around the Falklands I really wonder how expensive it’ll be to extract the black stuff AND get it safely exported.

The weather can be truly awful at any time of the year, and the further you are from the coast the worse it seems to be. There never seems to be the static high pressures that we occasionally get in the North Sea it’s just a constant blow with huge ocean swells that wears you down. This shouldn’t be a problem for the semi-subs but not very pleasant on the support and construction vessels. Too rough for helipads and too rough for Frogs/baskets too so it’ll be long transits into sheltered waters.

[iROV]

Final logging has been completed and the well is now being plugged and abandoned. The initial analysis suggests that the hydrocarbon type is wet gas! They now intend to carry out technical work to assess and analyse the information that has been obtained from this well and we are very much looking forward to resuming the drilling campaign later in the year."

[James McLauchlan]

…….. and we are very much looking forward to resuming the drilling campaign later in the year."

I’m looking forward to that too as (after the recent drop in share price) I jumped in at the bottom. Now long on Desire (The company, not the feeling 😉 )

Note:
Desire’s shares are listed on the Alternative Investment Market (”AIM”) of the London Stock Exchange with the symbol DES.

[Author]

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