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

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.

I had to re-read your post Marky...I thought you said" he must be having his legover today" then I thought,no,he'll still be on the toenails down on his knees??? Yea, you're probably right Capt.Cheers

That tells you a lot about a man with dirty toe nails.....he mings

http://www.falklandnews.com/public/story.cfm?get=3258&source=3

Look's like FINN the falklands island minnow newspaper, are taking on one of Fleet steet's or is it wapping now allegedly quality rags??

http://www.peak-group.com/cms/index.php?option=com_content&task=view&id=112&Itemid=60

20/5/05 The Peak Group Announces Growth Plans for International Market
International well construction performance expert, The Peak Group, has enhanced its global growth strategy by announcing an expansion of its operations in Houston.

The Peak Group, whose headquarters is in Aberdeen, has been based in Houston for three years and has increased its office space 10 fold to 4,000sq ft with a move into 1 Greenway Plaza in the heart of the city.

The Houston operation, headed by The Peak Group vice president Michael Williams, is the hub of the groups activities in the Americas and has led to the company securing major contracts in various locations including the United States, Canada, Mexico, Argentina, Brazil, Venezuela, Peru, Trinidad and Bolivia.

The expansion in the Americas mirrors Peaks worldwide growth in activity, which will see it drill 30 wells this year with forecasts for a sustained growth in the demand for its international well project management services in 2006.

Mr Williams said: The Peak Group as a whole has benefited from the establishment of a presence in Houston. We had already a reputation in other parts of the world as the expert in well construction performance management and we are now growing this business in the Americas.

Demand for our services has reached such a level that we simply needed more space to operate. Every aspect of our business is expanding, from our innovative probabilistic software application P1, our manpower services division Peak Consultancy Services to our well management arm Peak Well Management.

We are actively exploring several opportunities in the Gulf of Mexico, Southern Louisiana and Southern Texas where we are well positioned to deliver top class well management services through a combination of our excellent local knowledge coupled with proven international expertise.

Peak, which employs 73 staff, was recently named Most Promising Company at the Scottish Offshore Achievement Awards, and has also enhanced its position in Aberdeen by expanding from 5 Queens Terrace into 6 Queens Terrace.

In line with its plans to cater for the anticipated work in 2006, Peak is looking to recruit up to 15 key personnel immediately. The available jobs include well team leaders, senior drilling engineers, drilling superintendents, completions engineers, technical assistants and well test specialists. The posts will be based at Peaks offices in Aberdeen, Perth, Dubai and Houston.

The Houston office currently employs eight staff and has three full-time positions for a senior drilling manager and two engineers.

Andrew Paterson, managing director of the Peak Group, said: The Houston office has really established itself as cornerstone of our business plans. The appointments there are in line with our growing international portfolio of work.

Our global programme of activity this year puts us at the forefront of international drilling activity in 2005. Houston will play a significant part in our continued growth throughout 2006.

To meet that growth we are looking for exceptional, talented people who are seeking a positive career step. In return we provide international experience, responsibility and technical development in a culture where planning and performance are valued and rewarded.

http://20/5/05 Peak Hosts International Probablistics Workshop

Shell, Agip, Tailsman BG all attended......its not over till the fat lady sings.

For Capt. Guns and Ruddy--------I'd really like to join for a drink pre and post AGM, but I have realised that my Des shares are actually in the trouble and strife's name and I haven't filled in the card to appoint me proxy to attend the meeting (which has to be there 48 hours in advance) What a bore!

I'm sure you wouldn't mind my company (I hope) I am awok on iii and a vociferous anti KO person. Next time maybe.........unless I go to the meeting and wing it.

Fatoldgit.

No worries meeting up, but myself and Ruddy will be tee-total prior to the AGM.

It might be a good idea to look for a cafe opposite the reform club if you do wing it.
I would not get to the cafe later than 5.00 though.

Thanks Capt.G. Have you any idea whether or not they check you are a registered shareholder at the AGM?

There were no checks at the last AGM or EGM.
You do have to sign what I can only describe as an attendance register.

Shame that you and the trouble and stife's initial is not the same ;-).

Actually it is.......but on the share cert it says Mrs Barbara ....... and I don't look like a Barbara, bit more like a barbarian!