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

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

Hi Eddie
Once again thanks for the charts . Glad your daughter is ok . 78 companies in the oil and gas sector , wow , didnt realise there was so many ! Better day for DES today , got my cheque back from Capita yesterday on those excess shares. Its going straight back in to DES , silly not to at this price. Now everyone is getting their cheques back wonder if we will see an increase in volume next week as people buy in.
Keep up the good posts Markymar and all.
Have a good Easter
Berlingo

Hi all,

Jusy got in a very long day and Eddie am glad Mia is on the up and fingers crossed and hope the kids enjoys Easter,maybe hide some eggs in the garden they always like that.

Good call Eddie today am a bit like Belingo got check back and will be topping up again and quiet happy if the prices stays at this price till end of month as a lot of bills been chucked out and ready to re-top up again.

The last top up were at 57p and 62p and am happy with that as i know roughly where the price will be before drilling.

Last time and Eddie can correct me was at 450p + and Desire only had a 25% share of C and D now we have 85% share but more dillution so interesting if will go higher or lower also we have a better under standing what is down there hence 3D not drilling on 2D.

Am still expecting more to join which might change things but we are on to a winner either way.

Markymar

Hi Markymar

The retracement I have, using Fibonacci are: 0.0550p, 0.4520p, 0.6980p, 0.8970p, 1.0960p, 2.7800p & 4.4600p. As you can see the 0.4520p & 0.6980p is roughly where we are now. These may be slightly out as I only have the close for the 4.4600p (date 26/05/98).

The high may well have been 4.5000p.


Kind Regards

Eddie