Regulators give go-ahead for Desire Petroleum to drill second Rachel well

 Desire Petroleum (LON:DES) , the oil and gas exploration group operating in the north basin of the Falkland Islands, confirmed this morning that it had been given the go-ahead by regulators and its partner in the region to press ahead with drilling a second well on the Rachel prospect. The news comes just a week after Desire was hit with mechanical problems on its first Rachel well, which meant that it was unable to carry out the necessary tests to establish how successful the well had been. So far, the company, its investors and partners in the region know only that Desire was encouraged enough by what it saw to consider drilling another well in more or less the same place. 
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Source: Stockopedia