Desire Petroleum are presently shooting 3-D seismic in Falkland's waters. Estimated oil reserves are put at 60 billion barrels. www.desireplc.co.uk for more information.

Does anyone know if the survey is being completely funded by Desire's share issue or whether they have engaged partners to help fund? If so what percentage?

Presumably this percentage equally applies to any drilling costs and subsequent profits too?

Baughfell, have a look at www.desireplc.co.uk, News Section. All the info you need is there.

Desire raised all the money for 3D shoot through a placing of shares to its share holders and it was all underwrittin by semour pierce.

The next step is to wait and see how the 3D shoot went.Dont forget 2D shoot has all ready taken place over this area befor so when they do go to drill they will know where to drop the drill bit and will be 90% right where to drill.

What we need to see is in the desires report that the 3D shoot has been a sucess and that they have a big partner with them, and they will have partners queing up if all goes well.

There should be some tradin oportunities in this one given that the 3d data should be out soon. DES knows that there is oil out there, it is the type of oil that is important, the sandy stuff would be no good, a hard cap over a reservoir and it's the north sea all over again. This presents an interesting situation, almost a bet. Good news and this shares will rise by 100's of percentage points, bad news and it's pretty much wothless as there would be little desire to fund further surveys! Worth watching and a small punt if you like a gamble but don't put your pernsion as this is the definition of a risk with only two outcomes.

RNS Number:9312V Desire Petroleum PLC 01 March 2004



DESIRE PETROLEUM PLC

Interim report on the 3D-seismic programme in the North Falkland Basin

Approximately 40% of the 3-D seismic survey has now been completed and the first, unprocessed seismic lines have been received in the U.K. Data quality is high and, after processing, should provide a very good basis for interpretation.

Once the survey has been completed, it is expected that data processing will take approximately four months, at which time detailed interpretation can begin. This will not be available until later in the year but initial results are already encouraging.


This information is provided by RNS
The company news service from the London Stock Exchange

Did no-one esle think that this was good news. why would the management release the notice if they didn't think that this was good, we'll find out soon enough but the bet is still on and i think the odds in favour of a good outcome have shortened!

this RNS doesn't really say anything - to me it smacks of just putting out an RNS for the sake of it.

To me it says that the initial thought of upto 110 billion barrels of oil out is looking likly. Why come out with the statment like that unless they are very confident.They are ENCOURAGED what is in front of them and its a clear sign to buy these shares and which i dipped my toe in again to buy some more now its just the wait for 4 months befor data is processed and there might be news in the finals,last year were in April but they have untill june if they want to.

I dont want to miss the boat on this one ? Do you

They know there's a massive oil field - it's just getting the confidence of backers to drill for it and hence the need for quality seismic data. Once they have the proof, the Big Boys will be falling over themselves to get a piece of the action and Desire shares will rocket.. just wait...

not going down even when the market is down.may be it is tlling us something.

shes on the move

its going to blow

nice to meet others watching this stock. I bought a few at 11p - so watching with interest.

Wish I'd bought more from the recent Offer now ! Anyhow, onwards and upwards.

these have been over 5quid last time they had a rig out there, now interest is serious and these could as you say markymar - blow! soon

Morning Vasey
What do your reckon, out at 20p

Hmm...not sure on that one, jeff. 19p is certainly the next resistance area. Maybe it will charge through with the next pause 1.50. (Well, I can dream!)

A lot of interest today.
Does anyone have level 2 information please ? How many mm's are on the bid/offer ? Who's the house broker, by the way ?

oily, four MMs, all currently agreed 14 and 15.5. Same for both sides, top to bottom shows EVO, SCAP, WINS, KBCS