Desire Petroleum

<>Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM) dedicated to exploring for oil and gas in the North Falkland Basin.

Desire has recently completed a 6 well exploration programme. The Liz well encountered dry gas and gas condensate at 2 separate levels while other wells recorded shows.
Together with the Rockhopper Exploration Sea Lion oil discovery in the licence to the north, these wells have provided significant encouragement for the potential of the North Falkland Basin. The oil at Sea Lion is of particular interest as this has demonstrated that oil is trapped in potentially significant quantities in a fan sandstone on the east flank of the basin. It is believed that over 50% of this east flank play fairway is on Desire operated acreage.

Desire has now completed new 3D seismic acquisition which provides coverage over the east flank play, Ann, Pam and Helen prospects. The results from fast-track processing of priority areas are provided in the 2011 CPR. A farm-out to Rockhopper has been announced. The revised equities are shown on the licence map (subject to regulatory approval and completion of the farm-in well). Desire Petroleum

Rockhopper Exploration

British Geological Survey

Argos Resources



Latest Press Realeses from Desire

Thanks Eddie
Lets hope we get that bounce in the morning. You are normally correct !
Regards

Hi all

A little late to post but just got in from work and thank you Eddie for your views and I may get the axe back out tomorrow!

Ming we have a long road to travel and partners are there but only on Desire term only you must keep focused on the basics and the share price will follow

There is a game of poker going on with CP and future farm-in and CP has all the aces and if they join they will join only on CP terms with there money in hand and a lots of it.

The geology is right the seismic is right and I believe its been cooked to the right temperature which means there is oil down there in my view.

Look at your prospectus you got there is a possible answer to one of your question there Ming .

Just look at Rockhopper all the funds for the seismic are paid for already makes you think who is behind them ?

Thank you John good post

Take Care

Markymar

Morning Marky
http://bodecott.com/
Extract from.
Recent Activities: March 21st 2005 update.

FALKLAND ISLANDS EXPLORATION ACTIVITY

We have been involved in all areas of North Falkland exploration with several clients for nine years. Initial drilling results during 1998 were technically, but not commercially successful, i.e. oil was found but not produced.

At a meeting of the Petroleum Exploration Society in Aberdeen not too long ago, one member of the audience proclaimed that oil will not be produced commercially off the Falklands. This was reminiscent of those who in the late 1960s said they would drink every drop of oil produced north of 56 degrees in the North Sea. Both basins have already been proved petroliferous. The North Falkland Basin is in a similar state of evolution as the North sea was in the late 1960s.

The second phase of Falkland Exploration is gathering momentum. We are closely involved with evaluations of all Falkland licence areas through the activities of two clients.

DESIRE PETROLEUM

Desire are now formulating plans for drilling three of their eight or nine prospects in Tranches C and D. Investor interest has been very high for the recent fund-raising.

3d interpretation results confirm attractive seismic amplitudes, DHI's (Direct Hydrocarbon Indicators) and structural-stratigraphic pre-source rock prospects. These prospects are adjacent to a mature source-rock kitchen which contains one of the richest sapropelic source rocks known in the world. Drilling beneath the Early Cretaceous source rock is analogous to drilling beneath the Kimmeridge Clay source rock of the North Sea. The next three wells will test this untested pre-source play.

The area to be drilled has modest water depths which greatly assist the economic potential.

ROCKHOPPER EXPLORATION

Rockhopper have recently been awarded licences PLO 23 and 24 in the southern part of the North Falkland Basin. These are relatively shallow water (less than 200 metres), commercially attractive areas close to the Falkland Islands. Any exploration success here would be very quick to exploit. There have been no wells drilled in the southern part of the NFB, but both Desire and Rockhopper have substantial prospects and leads within those areas with DHI presence.

Any success in the area is likely to increase significantly the value of the Rockhopper acreage. They have further optimised their portfolio by taking an interest in the Desire licences of Tranches C and D

COMPETITOR ACTIVITY

Additional large acreage spreads southeast of the islands have been licensed recently by FOGL and Borders & Southern. These are all high risk frontier areas, having scant previous seismic information, no wells, deep water and a harsh climate. Any potential in this area might be ten or more years down the line from the North Falkland Basin - and with much bigger risks. 2d seismic is presently being acquired.

Massive recent share price movements suggest that investors are actively embracing the high risk scenario of the South Falklands deep water areas. This can only have a positive knock-on effect for the North Falkland Graben which is much lower risk and with very similar geology and structure.

Morning Capt.......Heeee

Captguns,thank you for the Bodecott update. He is is clearly not impressed with FOGL's deeper prospects and is surprised at the recent price rise aswell. Wish I had some FOGL to switch into Desire now. A good site to show the benefits of looking under source rock such as the Kimmeridge clay that he mentions is:


http://www.ukooa.co.uk/issues/storyofoil/geological-12.htm


There are a reassuring number of prospects found in the sandy deltas on the edges of a rift valley and under the source rock!

All those people that are thinking of trading out of DES on a breach of the 'potential' head and shoulders reversal should be looking at 46.5p (using intraday lows to draw the neckline). At the moment the chart is still building a consolidation triangle (bullish) and I can see other technical reasons to be buying above 45p for a push towards the 90p area.

Excellent link Lucky swimmer, look out for an R.N.L.I. badge at the AGM.
I'll post the link on iii for the non oily's

Good read that Lucky thank you for that

As you can see MMs do not want you to buy...they want your shares.

False break through the head and shoulders neckline and a nice hammer pattern on todays candlestick (bullish reversal) should encourage all the longs!

Agree looking for a blue candle tomorrow to produce a morning star. Would appear we may have at last a reversal in trend.

Hi all

No axe I hope markymar !

Looks like the 0.4800p held up today. The open 0.4800p high 0.4900p low 0.4700p close 0.4900p combined volume 1.421m. The volume has been increasing over the past three days 1.064m, 1.118m, 1.357m, 1.421m, this may indicate DES is becomeing more volatile. Lets hope it's in the right direction for tomorrow. The candle pattern we have is a bullish harami, this could indicate a reversal. The stochastics have just kicked up also. DES is in a good position for a buy. We just need the market to respond. As we've seen today the bears managed to take DES down to 0.4700p, the bulls moved in & took DES up to the close. All this was in a short space of time, DES had move 0.0200p. So once the sell off has finished DES should realy start to move up!





Good Luck All

Eddie

Well Eddie looks like we where both wrong on this one. If the selling continues, with virtually no buying to support then im afraid SP is going to fall a lot lot lower. Personally i waiting for a break of 45p and will top up in small tranches on the way down and on the way up.

a chart expert predicting a reduction in des' share price eh?

hhmmm...if that ain't a buy signal i don't know what is!!!

Hi all

Been at the hospital (little girl not well)

The support is now at 0.4550p. This is at the bottom of the shadow of candle date 16/11/04. This is also about the middle of the big blue candle date 10/11/04. It is also close to the 0.4500p 1 for 8. The open 0.4900p, high 0.4900p, low 0.4750p close 0.4600p combined volume 839.0 k. If we are going to see a rally it has got to be tomorrow I would think ! On the other hand momentum did suggest DES may go to the 200 DMA. DES hasn't been below the 200 DMA since 16/03/04. But this could also happen. Lets hope for the rally !








Good Luck All

Eddie

cheers edd

hope daughter is ok

Cheers Eddie a good call so far lets hope we keep the blue Sky

Hope nothing to bad Eddie will email you later.

Take care

Markymar

Thanks for the update Eddie and hope your daughter is well. Of interest you might like to know that rising t-line support (24 May & 2 Nov) has been shadowing the 200day ma since late January - currently around 41p. 38p should also attract buying interest (should we get there). It was a major resistance on the way up and we haven't been below since breaching it (also 50% retracement of the gains from last May.

Hi all

Mia is home from the hosptal now. Thank you all for your concern !

Todays open 0.4600p, high 0.4725p, low 0.4600p, close 0.4725p combined volume 1.077m. The bulls were in charge all day. Volume wasn't great, but was still bullish. The candle pattern is a bullish harami. We need confirmation of this on the next session. Lets hope we get it ! Looking at the sector UB07 this is down (profit taking). Also the AIM is down. I will post 6 month charts for AIM & UB07 also. The fact that DES held the support again, is good. DES was 7th out of 78, that I have in the oil & gas sector. So the bulls still giving support.






Good Luck All

Eddie