Belfast Telegraph

Friday 21 November 2014

Exploration firm desire's oil find hopes dashed

An exploration firm has seen its hopes of finding oil off the Falklands Islands dashed once again as it revealed another well had failed to deliver. Falkland Islands-focused Desire Petroleum saw its shares tank nearly 70% at one stage after it said its Ninky Well in the North Falkland Basin would be shut down and abandoned. Desire has been exploring the Falklands since 1998 and has so far failed to find any significant reserves of oil or gas. Analyst David Farrell said: "All six wells drilled to date have been unsuccessful."

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk