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Desire Petroleum (LON:DES.L) report: Drilling update – Rachael Sidetrack
November 2, 2010, Tuesday, 17:32 GMT | 13:32 EST | 22:02 IST | 00:32 SGT
By Daniel Stewart & Co
- Desire reports that it is unable to clean out the sidetrack due to a mechanical failure of the well bore and they will not be able to obtain wireline logging
- What data they could obtain from the drilling tools and geological data indicate around 25m of sand with oil shows
- With out the wireline logging data it is not possible to assess these shows or reservoir properties
- The well will be plugged and abandoned and the rig moved to another site on the Rachael prospect if the necessary regulatory and partner approvals can be obtained. If approvals are not obtained the rig will mode to the Dawn/Jacinta prospect and return to Rachael later in the drilling programme.
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