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

Hi all

Thanks markymar & lynnzal.

Well another down day for DES. Open 0.4525p, high 0.4525p, low 0.4400p, close 0.4450p, combined volume 1.237m. The volume was lower today, mainly sells. The main body of the canldes are getting smaller, this may be indicating we are close to the sell off point. We are also close to the 200 day moving average, from which DES could bounce. DES has been above the 200 DMA since 16/03/04 @ 0.1125p. So lets hope for the bounce.






Good Luck All

Eddie

Hi all

No axe today markymar ?

They say no news is good news. But no posts is bad news !


I'll not bother with a chart, as there is one above. Well I don't know how DES did it today but the share price went up. Looking at the buys vs sells, there were far more sells. Strange! But it is April fools day. The open 0.4450p, high 0.4800p, low 0.4450p, close 0.4650p, combined volume 2.113m. The pattern produced is a bullish engulfing pattern. The candle wiped out 2 days worth of red candles. This is bullish, but would have been more bullish if it had closed on the high. Looking at UB07 0il & gas sector, there was a similar type of finnish. ie selling towards the end of the day. The rising price of oil may well bring the bulls in on Monday. This may well be the start of a rally. Lets hope so !



Good Luck All

Eddie

Eddie i think we turned the corner today AGM on way and news this month I hope news of a rig but either way good to see some blue sky and good crack on the other boards.

I don't think the crack is finished by a long way yet Marky. Even on a down day you should try to have a bit of a laugh. Don't you just lurve sidewinders- easymeat. Seeya wouldn't wanna be ya ps FCP might be turning in Canada tonight- rumours of shorters closing down their positions-early days I know but I do think what happens with FCP will help us if they sell out for agood price. Anyway good night whoa bonnie lad and you Marky. Ruddy

http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S


Buy-if

Monday crunch day i thought Friday we turned the corner and also topped up with a few more shares.

Ruddy were you on the hoy last night or at the kids easter eggs?

He wouldn't give me any of his easter eggs-greedy swine. Must have been the hoy. Is hoy what I think it is?? I understand parochial geordie better than I speak it. Cheers Ruddy

Ruddy on the hoy means been on the drink or nukey brown is Brown Ale and i am about to go on the Hoy and toast the good ship Desire and spread the word.

Buy Buy Buy only one chance in life so make the best of it,and i would hate to look back and not be on this boat when she sails.

The first time i got drunk (15 I think) was on 6 bottles of nukey brown marky- didn't remember too much next day though(Barnard Castle)- slange

Morning all, 1 in 10 chance Bollick* 1 in 3


http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/04/03/ccbreak03.xml&menuId=242&sSheet=/money/2005/04/03/ixcoms.html

Breaking views
By John Paul Rathbone and Simon Nixon (Filed: 03/04/2005)

Let's stop gushing about overvalued oil shares

Imagine you run an oil company. Not a major like Shell, but a small oil company listed on London's Aim market. Let's call it Cash Shell. This firm has no hard assets - that's to say, no proven or probable reserves, which are those most likely to be commercially developed. But it has produced a sheaf of geologists' reports that point to humungous "possible" reserves of oil.

The distinction between proven, probable and possible reserves might have been enough to get Sir Phil Watts sacked as chief executive of Shell last year. But this doesn't seem to bother your investors, and there is a gusher under your share price. Indeed, the whole Aim-listed oil and exploration sector has been gushing lately.

This has been as true of tiddlers as of large firms. Last week, shares in India Star Energy rose 137 per cent in their first day of trading. The company's only asset is 900,000 in cash - hardly enough to buy more than a few thousand barrels of oil at its current price of $55. First Calgary Petroleum, which doesn't produce any oil, has a market capitalisation of 1.5bn.

It has, however, made some promising gas finds in Algeria, and independent auditors reckon these might be worth 2bn. But strip out "possible" reserves - the lowest quality kind - and the firm's bankable reserves are worth only 700m. On that basis, First Calgary is trading at a 114 per cent premium.

Socking premiums have become the norm among smaller oil exploration stocks. There are currently some 50 small or mid-capitalisation companies listed in London, with a combined market cap of 15bn, equivalent in size to, say, a BG Group.

The 20 biggest trade at an average 67 per cent premium to their core net asset values, according to estimates by Canaccord, assuming a long-term oil price of $35 a barrel. By contrast, BG Group trades at around a 10 per cent premium.

Part of the valuation gap reflects hopes that a big fish will snap up one of these minnows - even though deals in recent years have typically closed at just a 20 per cent premium. The rest embodies hopes of an exploration success - as at Falklands Oil and Desire Petroleum.

Those firms' stock prices have doubled over the past six months, yet neither has even started to drill. And while a high oil price does mean a greater number of finds are likely to be economically viable, the historical success rate remains only one well for every 10 sunk.

Soaring oil prices combined with one or two lucky finds, such as Cairn's Indian jackpot last year, have helped fuel this dotcom-style enthusiasm for small oil firms. Investors that bought into Cairn or one of the other lucky companies a while back have indeed made a packet. But buying stock in Cash Shell at current levels looks like a mug's game.

Typical hack Marky-distorting up to date facts-historical data-key word being historical.

Interesting presentation.
Maybe more to come from Des's block.
I like the Moby Dick shape underneath Ninky.

http://www.ihsenergy.com/news/presentations/nape_2005/room2/falklands_richards.pdf

http://www.ihsenergy.com/news/presentations/nape_2005/room2/falklands_richards.pdf

Cheers for link Capt

Hi all

Well another down day for DES. The buys were more than sells. The open 0.4700p, high 0.4700p, low 0.4325p, close 0.4400p, combined volume 2.797m. The volume was up again today. The candles give us a bearish engulfing pattern. The fact that this pattern has come in a down trend gives it a possible different outlook. The pattern is known as the last engulfing pattern. Tomorrow will confirm if this is correct. The last engulfing pattern generaly marks the bottom or top of a trend. Lets hope it is the bottom ! The rally should then follow.






Good Luck All

Eddie

Eddie im afraid this would appear to have 37.5p written all over. Dont see any support until then.

Hi all

Well we didn't get cofirmation of the rally today. The open 0.4425p, High 0.4425p, low 0.4150p, close 0.4325p, combined volume 2.795m. Looks like you could be right momentum. Today we had good volume, but a lot more sells than buys. The candle that was formed was a hammer. This candle generaly comes out at the bottom of a down trend. It's said to be hammering out the base. Looking at the intraday chart, it looks like the bulls didn't get involved untill later in the afternoon. On sharescope DES went through the 200 day moving average today. This is where the bulls appear to have come in. The hammer being at the 200 day moving average looks to be confirming support at this area. However as momentum has said the lower level at the rising window may be tested. Lets hope not !







Good Luck All

Eddie

Hi all

No postings today ?

I'll not post a chart as there is a couple on the board aready. The open 0.4325p, high 0.5625p, low 0.4325p, close 0.5575p, combined volume 1.401m. The volume was down today, but more buys than sells. It would appear DES is showing signs of support at about the 200 day moving average. This will need confirmation ie DES will need close up again tomorrow. With a bit of luck the bears will be out and the bulls will be in. DES was the fourth highest mover in the oil & gas sector, up 5.78% since yesterday.

Britishbulls.com have a morning star pattern. (although not the classic pattern) it is still a reversal pattern. I hope we get confirmation tomorrow !

Good luck all

Eddie

Cheers Eddie am in the background there watching and Friday is always an up day so get through Thursday see what happens.


So Eddie why is Friday a good day for Desire? press over weekend?


I dont think the Desire board know about press but the best secrets in life are kept quiet so keep it quiet as we are going to make a fortune here,

Cheers markymar

Lets hope we do !

What a pity I was away from the markets for the past couple of days. It seems that I could have missed some great buying levels! It is encouraging to see people on other DES bulletin boards talking about closing out their longs, as this is often a sign that the last stragglers are out now out of the way - leaving room for buyers to come back in. Psychologically, the nervous traders bit the bullet under 45p and looking at the 'hammer' pattern this confirms that the squeeze may well have completed on Tuesday. Good to see stochastic divergence (momentum rising while price makes new lows)...another great indicator for a bottom. Not to mention rising trendline from 2003 and 200 day M.A. A move back above 48p would really be a boost to the upside.

Hi all

Well we didn't get the confirmation today. The open 0.4575p, high 0.4575p low 0.4450p, close 0.4450p, combined volume 554.0 K. Looks like we have had a strange day. Low volume, very few buys & less sells than normal. Something is brewing. Looks like the bears may become bulls tomorrow. As lynnzal says DES looks great for a buy. As markymar says Friday is a good day for DES. It looks like the bulls have stepped aside today, letting the bears do their worst. The candles now give us dark cloud cover, which is generaly bearish but I think the bulls are ready to rally.







Good Luck All

Eddie