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

Marky,

My forecast was based on news released to date. However like you I feel there's more to come (partners/rockhopper/takeover).

Lynnzal,

I will settle for your estimate every day of the week however based on current market sentiment i'm not convinced. The sale of First Calgary will no doubt go against us and I still feel the market has not forgiven us from before. This time round I think we will need to prove our resources before we get our just desserts.

However you look at des, the only way is up

Game on

Marrow

Just for clarity...and for those that have missed my previous posts. I seen near-term risk down with a target at 26p (if we lose support around 30.5/31.5p). After that I see resumption of the underlying bull-trend to the targets outlined (94.75p then 134p). Note that they are longer-term projections and would likely have a rig announcement and drilling announcement provide the catalyst for gains.
Lynnzal

Hi all

Thanks for your input everone !

Looks like weve had a small drop in todays price. The charts are new & the candles are red for down, green for up. We now have the open, high, low, volume & change on the charts. We have a tweezers bottom (the two candles that look the same on the bottom) on this chart, which indicates the bottom of a down trend. Todays candle is a spinning top which means there is indecision in the market. The charts are much easyier to read. Most UK idices were down, the US look like they might finnish up, this may give us a good start for Monday.

US indices finnished down..








Good Luck All

Eddie

Excellent input everybody and very interesting reading for a layman like me.

Time will tell!

Good luck all.

Like the the charts eddie

Marvellous charting Eddie. I like the blue 'oil slick ' running across !

Hi all

Thanks aur, markymar & berlingo.

Yes I painted the oil slick, just wondered who would spot it first.
Look on the candles as us, it'll give you a nice feeling swimming in all that oil !

The slick also represents bollinger bands. Over sold is at the bottom, over bought is at the top. Looks like we have room to move up a little more.


Good Luck All

Eddie

Thanks eddie..........breath of fresh air on this board

http://www.thisisnorthscotland.co.uk/displayNode.jsp?nodeId=149212&command=displayContent&sourceNode=150624&contentPK=12439698

A little moe free PR today

DESIRE IDENTIFIES OIL TARGETS
Next Story | Previous Story | Back to list

09:00 - 13 May 2005
Desire Petroleum, the Aim-listed oil and gas explorer which focuses on the South Atlantic, said yesterday that it had identified 11 prospects in the North Falkland Basin with a potential of over two billion barrels of recoverable oil.

It said further interpretation of 3D seismic data had yielded a further five prospects, of which three could be tested at drilling locations already identified.

The company added that in addition, "numerous" less well-defined leads had been identified which would require further work before they could be classified as prospects.

Desire is planning a three-well drilling campaign and now all of the wells will have dual objectives. Its shares rose 1.44% yesterday to 35.25p

Hi all

Thanks markymar, fatoldgit

News on money am (XOM) suggest more up side to oil stocks.

Good Luck All

Eddie

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/05/15/cndob15.xml&menuId=242&sSheet=/money/2005/05/15/ixcity.html

A little of topic but staying with the Falklands..........

Dobson set to fuel football fortune by floating oil and gas company
By Sylvia Pfeifer (Filed: 15/05/2005)


Harry Dobson, the Scottish mining entrepreneur who last week made around 30m from the sale of his stake in Manchester United, is to make another fortune by floating a small oil and gas company.



Dobson holds a 20 per cent stake in Borders & Southern Petroleum, a small exploration company that aims to float on the Alternative Investment Market by the end of this month. It has already raised just under 10m, giving it an expected market capitalisation of 26m and valuing Dobson's stake at 5.2m.

Dobson, who is the nonexecutive chairman, founded the company last summer with Stephen Posford, a former European chief executive of Salomon Brothers, the investment bank that was taken over by Citigroup, who is a non-executive director. Borders & Southern is led by Howard Obee, an oil industry veteran who worked at BP and BHP Billiton.

One of Scotland's richest people, Dobson is estimated to have amassed some 500m through mining and property ventures. He recently floated Rambler Metals & Mining, a copper and gold venture with assets in Newfoundland.

Obee says his aim is to build Borders into a diversified, international company. "We're trying to build a proper exploration and production company over the next five years. We will have a global portfolio of acreage and are looking for other assets," he said.

The majority of the funds raised will be spent on exploring for oil and gas in the company's only current asset - a 20,000 sq km project in the southern Falkland Islands. The company already has five production licences and is conducting seismic surveys. with drilling expected to start in 2007.

Scott Pickford, an industry consultancy, has estimated that surveys indicate two areas in the field could hold a combined total of more than 600m barrels of recoverable oil and gas reserves.

Good info marky

Nice steady flow of falklands oil news-we await developments later this year with rockhopper and look forward to clues about a rig or drillship for des at the 24 may agm.

good luck all!

Nice start this morning, FOGL has been tipped in the Sunday Telegraph and hopefully the whole Falklands thing will start to get a bit more attention.

Feeling optimistic, let's hope it lasts.

Thanks for the updates Eddie, like the new charts. Can you clarify where you see the tweezer bottom please. If it is above the 2-May area (the two adjacent red candles), you will find that the second is a replica of the data from Friday 29th April that has been reposted because the markets were closed on bank holiday monday (2-May).
I hope you don't mind me raising this issue, because I hate having my analysis messed up due to bad data. Keep up the good work.
Lynnzal

Hi all

Thanks to all for your postings.

lynnzal I must appologise. Yes it was the 2nd of May. I overlooked the bank holiday. I don't mind you mentioning it, I'm glad you spotted it. Thanks !

DES went up slightly today, but closed jus above the open of the day. This gave us a spinning top, which means there is still indecision in the market. The support & resistances are still in place.






Good Luck All

Eddie

like the graph Eddie much better

You may like the graph but it's the price that really matters. I told you a couple of month ago to sell at 69 pence and you scorned me. The price now is 35 pence. Once again I tell you -SELL!!!
This company is going nowhere and has no future. Trust me because I know.

Pro
You continue to ramp AXM which at the moment is like a dying duck in a thunderstorm. With the share performance that AXM has had in the face of your postings, further scorn can only be expected.
Please let us know what you know?

pro

if you wish to be taken seriously why not share your knowledge with us?

i suspect you have no knowledge and as such i await your barage. it would however be nice if i was wrong and for once you could back up your allegations.

marrow

Very tedious Pro. You continue to backslap yourself over your bearish DES call and forget that you told us all to invest in AXM when it was closing at 30p (see below).

pro - 25 Apr'05 - 09:33 - 1138 of 1174

Could you please refer to postings 608 and 610.
Those who took the well-placed advice will be delighted at having done so. Those who did not and wish that they had done so can recoup their loss by trading in now and buying into Alexander Mining.
Incidentally, I'm not called Pro for nothing!

NOTE - AXM closed at 30p on 25 Apr and is currently down 30%
DES closed at 37.75p on 25 Apr and is currently off 4.6%

I think I know where I'd rather have my money