Falklands : Desire 3D Seismic Identifies More Prospects
Submitted by Falkland Islands News Network (Juanita Brock) 12.05.2005 (Article Archived on 26.05.2005)
Even though seven drilling locations have been identified by Desire’s 3D Seismic in Tranches “C” and “D” in the North Falkland Basin, still more areas of interest have been identified as the data from the seismic is worked and re-worked.
DESIRE 3D SEISMIC IDENTIFIES MORE PROSPECTS
By J. Brock (FINN)
Even though seven drilling locations have been identified by Desire’s 3D Seismic in Tranches “C” and “D” in the North Falkland Basin, still more areas of interest have been identified as the data from the seismic is worked and re-worked. Now, a further five prospects have been identified in the same Tranches. According to Dr. Ian Duncan, Desire’s CEO, three prospects can be tested at drilling locations already identified. However, there are numerous less well defined leads, which will need further work have been identified.
“All three of the wells planned will now have dual objectives,” he continued.
No doubt people who have invested in this stock will be pleased indeed, as it has increased in value since the dark days of 1999, when many of the original exploring companies pulled out and the price per barrel hovered around £10.00. Hang on to that stock is the best advice. It will go higher when and I stress ‘when’ hydrocarbons have been generated during exploratory drilling. This is still a very high-risk venture and we won’t know what’s beneath the source rock until we hit something.
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