Falkland Islands oil duo unveil new drilling plans

Stock-market punters' favourites Falkland Islands oil explorers Desire Petroleum and Rockhopper Exploration today revealed ambitious drilling programmes for the start of next year.

The firms, which share much of the same area in the South Atlantic, have so far come up with less than brilliant oil or gas discoveries.

Desire today said it had started drilling a new well in the southern part of the North Falklands basin, which will penetrate potential fields Jacinta and Dawn.

Once this is completed, in about 30 days, the drill ship Ocean Guardian will transfer to Rockhopper, which will use it to drill an exploratory well and an appraisal well in the Sea Lion area.

Shares in Desire put on 3⁄4p to 671⁄4p while those in Rockhopper jumped 9p to 327p.