Another blow for Desire as it confirms another unsuccessful oil well

Confidence in the Malvinas Islands waned after Desire Petroleum said it drilled another unsuccessful well, a further blow to hopes that the North Malvinas basin could become a major new oil province.

Desire said it would plug and abandon the Dawn well, the latest of a number of wells in the Malvinas which did not make oil discoveries, and the rig would move to drill a well or two on acreage owned by Rockhopper, another Malvinas-focused explorer.