Desire to drill in Falklands again

Oil explorer Desire Petroleum expects to resume drilling in the Falklands in the third quarter after using further detailed analysis from the first disappointing well to determine where to drill next, it said yesterday. Desire and Rockhopper which has a 7.5 per cent working interest in the Liz well, said earlier this year that they planned to drill as many different play types as possible within the basin. Desire, which raised £60 million pounds last year for the drilling campaign, also said it currently has cash at hand of $88m as it reported a loss for 2009 of $3.77m.