User talk:Igil1683
Desire Petroleum Plc. is gas and oil exploration.
Desire Petroleum Plc. (AIM: DES) can be a British company founded in 1996 by former geologist, Dr. Colin Phipps, as a part of the hydrocarbon exploration industry. The company�s main headquarters are situated in Malvern, United Kingdom. Its main activity is gas and oil exploration.
desire petroleum plc exists in the northern section of the Falkland Basin where it works to transform the offshore location right into a modern hydrocarbon province. The Falkland Basin is in the waters that are north with the Falkland Islands located approximately 250 nautical miles east from the coast of Argentina inside Atlantic Ocean. Here, it's got received license for exploration and production purposes.
The exploration license gives the company the right to gather the necessary data about the seabed. The drilling is only able to go as deep as 350 meters beneath the seabed for exploration purposes. The license for production refers back to the search and extraction with the petroleum.
The drilling license was received in 1997. Afterwards, the test was conducted annually later, in 1998. Its goal inside the Falkland Basin is to explore in order to find commercial reserves of hydrocarbons.
In 2009, a campaign for exploration purposes was started through the company. This is because Desire Petroleum and Diamond Offshore have signed a contract for the Ocean Guardian - a semi-submersible craft. From the next year, in February, the rig reached the basin and started the drilling process. As yet, the company has finished 2 flow tests, 16 wells and 2 sidetracks.
In 2004, a 3D seismic survey has shown the oil potential in the area. However, after studying the basin for over 12 years, the corporation has not found important oil or gas reserves. During the last year, Desire Petroleum has found six dry wells, which result in a decrease of its stock price and disappointment to the shareholders and Board of Directors. However, in the recent months, two new areas fit for drilling have been located. Its recent activities have included the drilling of five wells in the campaign from 2010. Moreover, the company has valid licenses for 2012 and 2013. By 2012, the extensive 3D seismic survey will probably be completed.
The latest news about Desire Petroleum is it needs to raise funds for almost any new drilling campaigns simply because that until now, no important and viable reserves have been discovered. It is hoped that this two new areas found will give you stockholders a bonus.
