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 Eddie and co supporters like the new style chart.
I don't post often but i do watch daily
and thank you for your efforts and time.
Reality is we are being battered, and there is a reason
for this the aim market is being savaged at present
down 18% in the last couple of months, all good growth stock
has lost double or treble the market average des is only
one of the crowd on the back of a 4 fold increase in the past
year. But you have to have news to keep it going news news news
is what will drive this one, at present we are in the twilight zone
funding in place but nothing to show for it. Rig and drilling
date will start the frenzy again and if you are a supporter as
i am patience will prevail as the upside will be massive.
Can understand fears of newcomers who bought at 50p+
and now think they bought a pup, but those who follow and trust
the data now is fast becoming a buying opportunity - notwithstanding
it could go lower in the near future hope not less than 25p
but being in is better than waiting for the strike as the sp
will go up faster than the day it was announced viagra worked.
Needless to say when we strike oil we won't need viagra.
Leave it there as it could get rude
Hanging one and all
all the best
HUSTLER

Hi all

Thanks Hustler, very well put.

Good Luck All

Eddie

DES features in Shares Magazine "get your shorts on" (selling shares you don't own. 18 ideas for plays).

Weren't they recommending a buy for DES a couple of weeks back????

lynnzal
Personally I don't bother buying the Shares Mag anymore. Their tips have only ever lost me money (PCI, DEMG, POL etc).
Could be quite an encouraging sign if they are saying short DES! Reckless advice in my opinion.

Hi all

Just a small move up today. The market is still indecisive. Volume was slightly lower than yesterday. The market seems to be rejecting the days higher prices. This is shown by the shadows on top of the body of the candles. The support & resistances are still as before. The oil & gas sector also moved up slightly, but also has a high wave candle.






Good Luck All

Eddie

Thank you Eddie,

Out of intrest FOGL results are out and the highlights are...........

RNS Number:5538M Falkland Oil and Gas Limited 20 May 2005

Friday 20th May 2005

Falkland Oil and Gas Limited ("FOGL" or "the Company")

Preliminary unaudited results for the period ended 31 March 2005

FOGL is an oil and gas exploration company operating in the undrilled South and East Falkland Basins, potentially a new petroleum province in the South Atlantic. Formed in May 2004, these are FOGL's maiden results following its admission to AIM in October 2004.

Highlights


DURING THE PERIOD FOGL:

extended its licence area by 50,000 sq km through the award of a 100%
owned licence


completed a 9,450km 2D seismic survey, well in excess of the IPO
plan; the results of the survey far exceeded expectations by identifying 130
leads


strengthened the management team with the appointment of a second non-executive director and a full time exploration manager

FURTHER WORK IS PLANNED TO DEFINE UP TO 20 DRILLABLE PROSPECTS BY
mid-2006


CURRENT CASH POSITION OF #11 MILLION; THE COMPANY IS DEBT FREE

FOGL IS EVALUATING ITS FUNDING REQUIREMENTS AND THE SOURCE OF FUNDS for the increased exploration programme

FOGL IS TARGETING DRILLING OF THE FIRST EXPLORATION WELL IN 2007
John Armstrong, Executive Chairman of FOGL, said:

"We have made remarkable progress since last year's IPO. The results of the seismic survey are encouraging and have upgraded the licences by providing direct evidence of the presence of hydrocarbons.

"We are now planning a much enlarged exploration programme with the aim of developing a multi-well drilling plan in 2006, with the possibility of drilling the first exploration well in 2007. In this light, we are evaluating our funding requirements and the source of funds for the increased exploration programme. This includes the option of including another party or parties in the project across some or all of the licence acreage.

"This is the most exciting project I've been involved in for some years and there is a real chance that the Falkland Islands will become a new petroleum province."

Thought i would post JP post from last night as you would think he has a crystal ball in front of him and i know Eddie does not go to iii.

Ladies and Gentlemen,

You have here a VERY bullish JPDM!

Firstly, and again, my personal thanks to Oil Brat for the absolutely brilliant posting, I think the recommendations alone quantify this.

I last posted PX targets around the end of April when looking at the Px model I was expecting a trading range of 34p - 38p, I think that was pretty much the case and I did do a fair amount of buying and selling (999's and 888's) and picked up a few extra 's of profit on the way.

More recently we have had some major influences to the AIM oil sector culminating in Regals rather poor performance which has sent ripples that have affected Desire and our cousin FOGL. Important to note that Desire stood up pretty well to this as the current 'less enthusiastic' sentiment regarding Oil Explorers has already been factored into Desires share PX.

Basically, the markets are now focusing on giving value to shares that actually come up with the goods rather than pricing stocks ahead of potential success. PET, PCI, RPT have all been a factor in this as the success of Cairn becomes distant news.

We have now a share price that IMHO FULLY includes this market sentiment. What we have to realise with Desire is that their recent past experience in promises have been true and if anything underestimated. In my view, Desire is therefore trading at a discount to its true fair value compared to its peers in the sector. RIPE PICKINGS FOR THE GALANT INVESTOR me thinks!!!

Take a really good look at the content of Oil Brats Posting, think about what has been acheived so far and the future potential. THE FUTURE POTENTIAL HAS NOT CHANGED! all that has changed is the SHORT TERM market sentiment. There IS oil in those rocks around the Falklands and it WILL be found.

We await a rig to be booked and it may take time to secure the safety regs but it will happen, Desire are sitting on 25M of Cash, hell, they could even make a profit just by having this money in the bank!!!

You really must go to the www.falklands-oil.com website and read the facts and then it all becomes very clear! Its not just Desire and FOGL n co who believe there is oil down there, the British Geological Society have commented that Desires acreage sits bang on top of the second most oil rich rocks on this planet. WOW.!

PCI, PET, RPT all make wild predictions but Desire are calm and cool headed about what they see in them there rocks. I trust Desire 100% on their integity.

A rig will get booked but it may take time. I believe the market reaction on Desire is posed to change for the better and I see the PX moving up ahead of the AGM.

A dangerous time to give PX Targets but here I go:-

Up to AGM, bottom fish if you get the chance in the low 30's but I believe this opportunity is nearly over. Gentle trend (initially volatile) into upper 30's with slight upper peak ahead of AGM say 38p - 39p (Maybe agood time to take a little profit if you have been bottom fishing in the low 30's)

Beyond this its truely difficult to give mid term PX targets as once the rig is announced the price will rise substantially. What I can say IMHO is that the recent negative sentiment is IMHO fully priced in and we should now be on a general upward trend.

Once rig announced then again I'm of the opinion that the price will rise over a 3 day period to around 60p (I've built in a slight discount here to account for the recent negative sentiment in the sector and also based on an easing of the oil price)

Once Drilling commences then I still expect aprice dramatically rising up to 2.50+

A successful hit could give aPX anything up to 10 (thats the potential)!!!!

Basically rather than a relatively steady rise from now to drilling the market is awaiting results so the curve between now and drilling will be steeper.

Hope above is of help, thought provoking and stimulating, again, I'm very bullish about this stock indeed and am fully topped up with well into a six figure holdi

Hi all

Thanks markymar (JPDM)

A bit better trading today. At first I thought the rise was due to FOGL's announcement. But looking at the share price, it wasn't. FOGL went down & so did the oil & gas sector. It would appear DES went up on its own merrit. There is a small falling window which DES has to go through, between 0.3400p - 0.3500p. Todays candle has stopped at the resistance of the window without any upper shasow. So all being well, DES should pass through this resistance on Monday. DES may have become more favoured than FOGL, as FOGL isn't going to drill untill 2007.







Good Luck All

Eddie

Thanks Eddie.
Interesting that mark up at the end of the day. We shall see on Monday if any news.
I`m off to Spain for a week , to warm up my bones , in what could be a big week for DES what with the AGM . Anyone know if they have internet cafes in Benidorm?? Yes Benidorm ?? Marky , u well informed ?
Regards
Berlingo

hi berlingo
have a good hol
plenty of cafe's in beni drink coffee or rum or both
and dont fret last thing on your mind should be des
knowing your style it won't matter what the sp is
short term the song remains the same
the action starts next year
and the sp will be higher a lot higher than
at present.
happy holls
HUSTLER

Thanks Hustler.You`re right.Wait for the real action to start.
All the best
Berlingo

Hi berlingo

Have a great time !

Is it 1 week or 2 your away ?

DES is good & will move back up.

Enjoy your hols


Kind Regards

Eddie

Morning all, good hols Berlingo.

Marky, had some friends round last night and only just found Capt at his best on another board. He says what he means doesn't he. HEE HEE

Morning all,

fatoldgit -The Capt knows his stuff on 3D more than i can let on a wink wink nudge nudge as we say in Geordie land and was in good form with a dry sense of humour.Kickoff is not working at moment but i fear the reason is he has had a mental breakdown hence this attention problem he has and the need to be accepted by people and why I am the target for his aggression .I hope he is getting help.


http://news.ft.com/cms/s/3f64ba28-c93e-11d9-b9f4-00000e2511c8.html

Kevin Goldstein-Jackson: Better to ignore the racing pages
Published: May 20 2005 15:51 | Last updated: May 20 2005 15:51

In the FT last June I mooted whether a political bet might be more profitable than investing in shares. I contemplated a combination bet that both Tony Blair and Charles Kennedy would be replaced before the general election. Im glad I did not make such a bet.


I know a number of regular gamblers. Many of them will comment on their more spectacularly successful bets on horses, but keep quiet about their losers.

Some people start off as modest gamblers: they put 10 on a horse at 5 to 1. It wins. They put their winnings on another horse at 6 to 1. It wins. They then roll over those winnings to another bet at 5 to 1 and win again. Convinced they have great foresight or a magic touch, they put all their winnings plus some savings on another horse at 3 to 1, believing it must be a safe bet. They lose the lot.

They hate losing. So they raid their savings again and bet on a horse at greater odds: 10 to 1. The result: another loss. To try to recoup they raise more cash and bet on a rank outsider at 50 to 1. They lose again.

Now, if these people were hedge fund managers and playing with billions of other peoples money, they would be winners not losers.

If their winners were all in the first one to two years of their trading, the managers would pocket perhaps 20 per cent of all the funds profits as well as enjoying a fat salary.

If the losses in year three then wiped out the entire hedge fund, so what? Hedge fund managers are not required to hand back profits pocketed in earlier years. The hedge fund investors may well not have been aware of the exact nature of the bets made on their behalf.

If the fund had also borrowed many millions for increasingly unsuccessful speculative punts, then it is not only the funds investors who will have suffered but the banks and other institutions that lent that money.

Such fears of potential hedge fund problems around the world make me very cautious of greatly increasing my exposure to the stock market.

Although my self-invested personal pension scheme (Sipp) has a healthy amount of cash I also feel the need to pay much closer attention to the everyday newsflow relating to my Sipps investments.

Recent news has encouraged me to retain some of the investments on which I had contemplated taking profits. For example, in March Bloomsbury Publishing announced 2004 pre-tax profits up by 6.9 per cent to 16.44m. Bloomsburys directors also stated they expected the company to perform ahead of their original expectations for 2005 and now anticipated that profit before tax and goodwill for 2005 would be not less than 20m.

Premier Oil reported in March that its 2004 profits after tax had shown an increase of 57 per cent. The company had an ungeared balance sheet with strong cash flow from production. This year Premier will be undertaking an exciting exploration programme of up to 16 wells in eight countries and would continue to search for attractive new commercial opportunities.

Although my Sipp does not hold shares in Desire Petroleum, I was delighted with Desires announcement on May 12 that recent interpretations of the 3D seismic data of part of its oil prospects in the North Falkland basin had yielded a further five drilling prospects. So far, Desire believes its Falkland oil rights areas have a potential of over 2bn barrels of recoverable oil.

This news was helpful to my Sipps holdings in three companies which also have Falklands oil prospecting interests: Falkland Oil Gas (FOG), Falkland Islands Holdings (which has a share stake in FOG) and Westmount Energy (which has a share stake in Desire Petroleum).

http://business.scotsman.com/utilities.cfm?id=558882005

IAIN DEY
CITY EDITOR
idey@scotlandonsunday.com


AS MANY as six oil exploration companies are poised to join the Alternative Investment Market, despite the shockwaves sent through the sector last week by Regal Petroleum's devastating drilling news.

North Sea scavenger Granby Oil & Gas, Indian operator Hardy Oil & Gas and Houston-based Vanco have all begun marketing flotations in the City.

Wham Energy, which plans to drill gas fields in the southern North Sea, and Falklands exploration firm Rockhopper, are in the final phases of deliberating whether to go to market now or later in the year.

Scottish mining tycoon Harry Dobson has already raised 10m for his oil exploration venture, Borders & Southern Petroleum, which will start trading on AIM on Tuesday.

Combined, the six flotations are believed to be aimed at raising around 300m. But with the City still bruised by losses of more than 200m from the Regal debacle, they could now struggle to raise the cash.

A corporate financier working on one of the flotations said: "It's not exactly a great time to be trying to raise money for an oil company, but it's a bit too early to tell just how much damage Regal has done to the sector. The Regal issues are very particular to Regal and hopefully we will be able to get that message across.

"But the markets generally are looking a bit more shaky and there's not quite so much money available anyway."

Regal Petroleum saw its shares dive 60% last week after revealing that a much-hyped well off the east coast of Greece was not commercially viable. The move came just three weeks after the firm raised 44.8m in a share placing.

Some investors in the share placing are believed to be considering legal action and the Financial Services Authority is expected to launch an inquiry.

Hardy and Rockhopper are both being advised by Arden Partners. Granby is being marketed by KBC Peel Hunt and Wham is being advised by Bridgewell Securities.

Vanco, which was originally expected to have a market valuation of more than 400m upon reaching the market, is being advised by Citigroup and Evolution, the broker whose reputation has been hauled through the mud by the Regal affair.

It is understood Panmure Gordon was planning to float two additional oil companies, but both these listings have been postponed until autumn.

The flurry of AIM flotations comes ahead of a change to listing regulations in June, which will increase the amount of documentation that needs to be produced as part of the initial public offering process, pushing up flotation costs.

Nice find, Marky...I see by the date it's obviously out of the archives...also boarders and southern float is on tuesday...one to watch.

Its all coming together at last Ruddy just need to find oil.

You going to AGM Ruddy and are you having tipple with Capt?

I don't know Marky...he seems quite dangerous that Capt. He could lead me astray.ha ha. Definately going Marky and looking forward to going. Like everyone else I will report back with whats been said at the AGM and general mood. There's also alot happening next week with one thing and another, hopefully boding well for Desire shareholders. Anyway Marky, thanks again for all the work you put in to gather information for everybody else...it is much appreciated. ps I see KO's getting his knickers in a twist....again.lol

Early start 5.30 means more drinking time Ruddy and keep away from them easter eggs.I wish i was down there with you all but a Spive party we will have next year i hope.Am surprise KO has not posted today he must have his lego to play with today.

http://www.falkland-malvinas.com/Detalle.asp?NUM=5698

Me lead you astray Ruddy? LOL.