Rig Update (3881R)
November 03 2011 - 03:00AM
UK Regulatory
TIDMDES
RNS Number : 3881R
Desire Petroleum PLC
03 November 2011
For immediate release 3 November 2011
Desire Petroleum plc
("Desire" or the "Company")
RIG UPDATE
Desire Petroleum plc (AIM:DES), the exploration company focusing
on the North Falkland Basin, announces that the rig contract with
Diamond Offshore Drilling (UK) Ltd for use of the drilling unit the
Ocean Guardian for operations in the North Falkland Basin has been
amended.
Under the amended contract an undefined number of optional wells
may be drilled up to 1(st) March 2012, at which time the Ocean
Guardian will leave the Falklands on a long term contract with
another operator. Desire must declare the exercise of such options
on or before the spud of the previous well in the campaign.
The rig is currently drilling well 14/10-9 for Rockhopper
Exploration PLC who have announced they will follow this with a
well on the Desire farmin area PL004b.
Desire is investigating all the possibilities to utilise the
Ocean Guardian until the end of the contract.
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/Stewart Dickson, Corporate
Finance
Richard Redmayne / Paul Jewell, Corporate
Broking
Buchanan 020 7466 5000
Tim Thompson
Ben Romney
Helen Chan
This information is provided by RNS
The company news service from the London Stock Exchange
END
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