Desire Drills Falkland Basin

29 March 2010 (Last Updated March 29th, 2010 18:30)

Desire Petroleum has announced that its Liz 14 / 19-1 well in the North Falkland Basin has reached a depth of 3,570m. The primary Liz target was encountered at around 2,550m. Subsequent logging operations have shown that oil may be present in thin intervals, but that the reservoir quali

Desire Petroleum has announced that its Liz 14 / 19-1 well in the North Falkland Basin has reached a depth of 3,570m.

The primary Liz target was encountered at around 2,550m. Subsequent logging operations have shown that oil may be present in thin intervals, but that the reservoir quality is poor, the company said in a statement.

Until the logging is complete and the results analysed it will not be possible to determine the significance of the hydrocarbons encountered, the statement said.

Operations are expected to be complete by the end of this week.