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

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!

May 2005 New Licences in North Falkland Basin issued to Rockhopper Exploration
Rockhopper Exploration has been awarded a further two Production Licences (PL 032 and PL 033) covering blocks 14/5 and 14/10 (PL 032) and 15/1, 15/2, 15/6 and 15/7 (PL 033) in the North Falkland Basin. These blocks were previously held by Shell and Agip, who drilled two wells there as part of the 1998 drilling campaign. Both the Shell wells encountered hydrocarbons; one flowed gas to surface and the other flowed live oil to surface. Rockhopper plan a minimum 685 sq km 3D survey over the most prospective parts of these licences, and have also committed to drill a well to test the most attractive prospect within the first 5 years of the licence.

This award brings the number of blocks held in the North Falkland Basin by Rockhopper Exploration to 22, see map.

May 2005 Falkland Oil and Gas Ltd (FOGL)
FOGL have, during the Austral summer, been using the GSI Admiral to collect new 2D seismic data across their extensive licence holdings in the southern basins (see map). They have acquired almost 9,500 km of new data, and have plans in place to acquire more in the near future. FOGL report that they have identified a number of interesting leads on this survey, a substantial part of which extends into previously un-surveyed territory.

April 2005 Borders and Southern Petroleum (BSP) commence new seismic survey
BSP have commenced a new survey over their deepwater, South Falkland Basin acreage, adjacent to the South American/Scotia plate boundary. This new survey, of approximately 2,500 km, covers a number of interesting features, as well as extending into previously largely un-surveyed territory.

April 2005 Falkland Islands visit by Desire Petroleum and their contracted drilling manager.
The Chairman and Chief Executive of Desire Petroleum visited the Islands in April 2005 together with the CEO of Peak Well Management, whom they have contracted to run the next phase of offshore drilling in the North Falkland Basin. These three executives were in the Falklands to engage in high-level talks with Government, and also to start the planning process for the next round of drilling.

Hi all

Thanks for all the postings.

Lets hope for a bullish AGM. DES is back at the support level again, todays candle looks quite bearish. The market seems to be rejecting the higher prices for DES at the moment. We need some positive news about the rig to move DES up again.







Good Luck All

Eddie

Capt and Ruddyy

Pretty much decided to attend AGM.

Intend to visit coffee shops opposite or in vicinity of Reform Club at 4.45pm.

Will be carrying Desire Report and copy of Racing Post (my bible). If you don't see me try and grab me in meeting for perhaps something a bit stronger after. Probably just one (maybe two) can't stay late.

Wife says I shouldn't meet people from the internet!!!!

fatoldgit-Have a good time and i wish i was there with you and the rest of the clang.