Dry Falklands well prompts side track

Desire Petroleum is persevering with its latest exploration well in the North Falkland basin, despite indications of a dry hole.

Offshore staff

LONDON -- Desire Petroleum is persevering with its latest exploration well in the North Falkland basin, despite indications of a dry hole. Well 14/15-1 well, drilled by the Ocean Guardian on the Rachel prospect, has reached a TD of 2,877 m (9,439 ft). Although initial wireline logging shows no trace of hydrocarbons, a thick sandstone section was encountered in the upper part of the target zone. This comprises 103 m (338 ft) of gross sandstone, of which 81 m (266 ft) is net reservoir with an average porosity of 23%.

Desire says the well has provided valuable data on distribution of reservoir targets within the Eastern Flank play, in particular the calibration of the 3D seismic for sandstone prediction.

One of the chief remaining uncertainties concerns the oil-charging mechanism from the mature oil source rock to the fan sandstones. However, the discovery of potential sandstones in the current well downdip from the prior well, closer to the mature oil source rock, should reduce the oil charge risk.

Desire has opted to side track the well to this location to evaluate the prospectivity, once present logging operations have been completed. The total planned depth is 3,418 m (11,214 ft) MD (2,970 m, or 9,744 ft, vertical depth), with an offset of roughly 1.2 km (0.75 mi) from the total depth of the original vertical well.

The side track - to be designated 14/15-1Z – should take 20 days to drill. Thereafter, Desire intends to move the rig to location 25/5-1 to drill the Dawn/Jacinta prospect in the Tranche I license.

10/15/2010

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