User talk:Nuve1134
Desire Petroleum Plc. is coal and oil exploration.
Desire Petroleum Plc. (AIM: DES) is often a British company founded in 1996 by former geologist, Dr. Colin Phipps, as part of the hydrocarbon exploration industry. The company�s main headquarters are situated in Malvern, United Kingdom. Its main activity is oil and coal exploration.
desire petroleum exists in the northern part of the Falkland Basin where it works to transform the offshore location into a modern hydrocarbon province. The Falkland Basin is within 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 has received license for exploration and production purposes.
The exploration license provides 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 means search and extraction with the petroleum.
The drilling license was received in 1997. Afterwards, the test was conducted a year later, in 1998. Its goal inside 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 an agreement for the Ocean Guardian - a semi-submersible craft. With the next year, in February, the rig reached the basin and started the drilling process. Until recently, the company has finished 2 flow tests, 16 wells and two sidetracks.
In 2004, a 3D seismic survey shows the oil potential with the area. However, after going through 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 cause a decrease of its stock price and disappointment to its shareholders and Board of Directors. However, within the recent months, two new areas fit for drilling have been found. Its recent activities have included the drilling of 5 wells in the campaign from 2010. Moreover, the corporation has valid licenses for 2012 and 2013. By 2012, the extensive 3D seismic survey is going to be completed.
The latest news about Desire Petroleum is it needs to raise funds for any new drilling campaigns because of the fact that until now, no important and viable reserves have been located. It is hoped that this two new areas found will give you stockholders a bonus.
