Desire begins new well in Falklands

20th Dec 2010 09:29

Falkland Islands oil explorer Desire Petroleum has started drilling the Dawn/Jacinta 25/5-1 well in the North Falkland Basin.The company, whose shares have been up and down like a yo-yo recently on speculation and subsequent failure, spudded the new well in the 100%-owned Tranche I on Saturday.Targets are located at 1,000 and 1,350 metres, though total depth is expected to be around 1,670 metres, which will take 30 days to reach. Once finished, Desire will hand over the Ocean Guardian rig to Rockhopper, which will take it for "one or two" slots before it returns to Desire to drill a well at a location still to be decided. A 3D seismic vessel has also begun operations on a new 3D seismic programme in the region in a joint survey with Rockhopper, expected to last until April.Desire thinks only 40% of the East Flank Play Fairway on Desire acreage has been covered. The priority area, where operations have started, is in the north east of Tranche D. Final merged data is expected to be available for interpretation during the third quarter of 2011.