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

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

Hi all,

Hope all having a good easter and i hope Mia is well Eddie.

Taliman seem to be very much in the picture still.


http://www.falkland-malvinas.com/Detalle.asp?NUM=5328

Falklands-Malvinas
Friday, 25 March


Falklands will attend oil convention in Canada.



The Falkland Islands will be represented at this years American Association of Petroleum Geologists annual convention next June with a special technical presentation on Exploring Deep Water Fans in Falklands basins.



Director of Minerals and Agriculture Department, Phyl Rendell and Oil Statistics Manager Alex Blake will be attending the marketing event in Calgary, Canada which is hosted by the Canadian Society of Petroleum Geologists.
The AAPG is described as a useful venue which will give the Falklands delegation the chance to meet with licensee Talisman and to target other Canadian companies.

The technical program of the 2005 AAPG Annual Convention from June 19/22 will cover a wide spectrum of topics that will provide geoscientists with essential information and methodologies to aid in the search for hydrocarbons. Fifty oral and 60 poster sessions will showcase approximately 1000 technical presentations during a three-day period and will be supplemented by a wide variety of short courses, field trips and a special two-day core workshop.

Eleven main themes will be addressed during the convention: Exploration of Mature Basins; Exploration of Continental Margin Settings and Frontier Basins; Holistic Analysis of Petroleum Systems; Tectonic Systems and Basin Evolution; Depositional Systems in Time and Space; Mudrocks and Hydrocarbons; Unconventional Resources and Innovative Techniques; Optimizing Reservoirs; Business and Economic Issues; Hydrocarbons, Environment and Society; and Astrogeology.

According to AAPG, Exploring Deep Water Fans in Falklands Basins is a presentation by Phil Richards, Colin Phipps, Jan Grzywacz and Giles Pickering.
The paper indicates that six wells were drilled in the North Falkland Basin in 1998.

Live oil was recovered at surface, but the only tested play exhibited difficulties of charge caused by poor migration into the targeted reservoir interval, which lies above the regional seal. Recent exploration has focused on identifying reservoir systems directly connected with the mature source rock zone. New 3D data has identified several fan systems prograding off the adjacent Palaeozoic platform, bringing clean sands into direct contact with mature source rocks. The fans are fed by major feeder channels and display numerous DHIs. They are currently located in shallow water (<350m) but prograded into a deepwater (~500m) early Cretaceous lake system.

No wells have been drilled in the South Falkland Basin or Falkland Plateau Basin, but new seismic surveys have been targeted over Mesozoic fan systems currently in water depths of >1000m. These early Cretaceous marine fan systems provide one of the many targets available for drilling in this totally untested basin.

Analogues for both sets of fan systems are provided from several producing fields from different mature oil provinces, highlighting the potential to be tested in these Falklands fans.

At the Mineral Resources Committee meeting, Councillors were also invited to attend and Chair Stephen Luxton said that he would consider the possibility if the dates linked in with other overseas meeting.

Hi all,

A little bit from westmount energy interims today and they did not take up there rights issue and have not sold any either.

The Group invests principally in companies which hold the possibility of considerable capital growth on the funds invested. Profits are only brought to account when an investment is sold. The Group's investments continue to perform well. The market value of the Group's two AIM quoted investments, namely, Sterling and Desire Petroleum plc ("Desire") at 31 December 2004 totalled #14,572,500 compared with a carrying book value of #8,890,469, showing an unrealised gross surplus on that date of #5,682,031.

Since 31 December 2004 the Group has sold 5 million of its shares in Sterling and the Group's shareholding in Sterling now stands at 70 million shares. The proceeds were utilised in repaying the Group's Bank Loan and the Group is now debt free.

The Group continues to hold 5.5 million shares of Desire. Through this investment the Group has a continuing interest in Desire's exploration offshore the Falkland Islands. Desire has recently completed an issue of new shares at 45p each to raise approximately #24.4 million. Desire intends to utilise the proceeds to conduct a three-well exploration drilling programme on Tranches C and D in the North Falkland Basin.

Hi all

Thanks markymar.

Well I'm supprised DES did't close lower, Looking at the sells vs buys. The candle pattern sugests dark cloud cover. The pattern also suggests a change in trend. This pattern normaly would be at the top of an up trend. This is therfore suggesting it isn't a true dark cloud cover. (no up trend to reverse). Looking back on DES (08/12/04)we have had similar patterns followed by a rally. Lets hope for the rally. The open 0.4725p, high 0.4775p, low 0.4650p, close 0.4650p, combined volume 1.239m. The fact that the bears managed to close on the low, gives bearish signals. On the other hand DES is still getting support at about half way down the big blue candle (0.4570p). This is also where the fibonacci retracement level is. It appears the bears have tried to drive DES down below this support level today. The volume has been increasing over the last three sessions. If we have an increase in volume tomorrow lets hope it's a rally!


Stochastic & Bollinger bands both giving buy signals. (just need the rally)





Good Luck All

Eddie

Eddie i fear unless the bulls really come into DES with some force over the next week or so then the bears are going to have there way and 46p-47p support is going to crack. Support may appear at the rising window from Nov 10th at 37.5 -39.5p