Desire cheered by latest drilling operation
MIDLAND-registered oil exploration firm Desire Petroleum has been cheered by the findings of its latest drilling operation in the North Falkland Basin.
The operation, conducted by exploration partner Rockhopper, has found strong hydrocarbon deposits in four target areas of the 14/15-4 well.
Desire, which has a 40% share in the well, said the drilling had penetrated reservoir targets in the Beverley, Casper South, Casper and Sea Lion areas.
“All four targets are hydrocarbon bearing and no water wet sands were observed in the well,” said Desire in an update today.
Stephen Phipps, chairman of Desire, said: “We are very pleased with this well result. The well has encountered hydrocarbons in the new Beverley and Casper South reservoirs as well as confirming hydrocarbons at the Casper and Sea Lion Main Complex levels. We are particularly excited about the downdip oil potential at both Beverley and Casper South.”
Further tests on the well are now being carried out and the company said it would update once coring operations have been completed.
