Desire shareholders left hanging on

Shares in Desire Petroleum took a dive after the company said shareholders will have to wait a bit longer for the results of analysis of its prospects in the North Falkland Basin,

The company has received the final processed three-dimensional seismic volume data covering licences PL003, PL004 and the majority of PL005, which will be used for a re-assessment of the prospect inventory.

The results of this work are expected later in the year.

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The firm is also updating the Competent Persons Report that was prepared in October 2011, incorporating the 14/15-4a well results. The results from this re-evaluation of the discovery area will be published in the near future.

The share price fell 8.33% to 33.00p by 12:23.

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