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 Captguns
Great post, when the mayhem generally over the
Falklands gets fully focused on quality
the north is where it is most likely to happen.
Which leaves Des way out in front of the rest.
all the best
HUSTLER

Agreed there Hustler MMs getting a kicking today and price should move if not will put boots on a kick them myself

http://www.scoop.co.nz/stories/WO0506/S00281.htm

hi fatoldgit

thanks for your reply. got a few questions i wouldn't mind bouncing off you if you have the time.
regarding the spreadbet i intend to open my understanding is that for every penny rise or fall eqates to 1000, additionally they require 20k margin.
1. If des go to 80 next week (i wish) if i closed the position would the return be 80-45 (price quoted)= 35+20 (return of margin)?
2. Is there a maximum payout(as at some bookies)?
3. If the bet goes cash positive will the margin still be held until the position is closed?

Any advice will be gratefully received

marrow

Marrow, a quick answer


1 yes
2 no
3 you can take money out without effecting the margin if you are in profit before you close the position.

I'm sure fatoldgit will give a more full answer but I find spreadbets are good as long as you have plenty of margin and spare cash incase the price moves against you unexpectedly and they ask for more margin.

luckyswimmer

Marrow, was it your spreadbet that moved the share price in the last few minutes? Luckyswimmer

luckyswimmer

thanks for your answers and unfortunately cash is tied up till wed. bugger!!!

kind regards

marrow

Hi all

A great day again. DES is now up at the 200 day moving average. It looks set to pass through this tomorrow. The momentum should build as the the bulls take DES through the 200 DMA, we shaould also get support when the golden cross takes place, this should be in the next few days. Also news of a rig will give DES a boost.







Good Luck All

Eddie

Cheers Eddie,

What happens with the Golden cross?

Hi markymar

The golden cross is when the 20 day moving average comes up through the 60 day MA. This is seen as a buy signal, as is the candles moving up through the 200 DMA. Both of these should happen soon (all being well).


Kind Regards

Eddie

Cheers Eddie
Good chart.
Good post Captguns.
Golden cross.
Price is rising.
May it all continue
now all we need is a rig,
it all seems to be coming together nicely
all the best
HUSTLER

Thankyou for that Eddie can you see my Range Rover in them charts

Hustler I dont think Capt will be posting as computer has gone bang for a bit so a bit missed input there.

Cheers Marky
I am not that hot on charts but i think
i see 4 Range Rovers, one in each colour, MM1 - MM4
keep up the good work
all the best
HUSTLER

Marrow...re spread bets

Luckyswimmer replies correct with one comment.
1. yes, your calculation of profit correct.
2. No max. profit worries....always remember the spread firms hedge everything and don't take risk themselves...they just charge you a commision in the spread.Not like those nasty bookies who limit winnings. I knew a guy who was convinced the markets were gonna fall. He opened up bear positions in the Dow and suffered a bit of pain as they crept higher but was so convinced he kept increasing his position. This was in Oct 87...(Time of the crash) he made 2m in two weeks. He also had big balls.
3. This is the one I'm not sure of. If your position goes positive, I'm not sure you can withdraw cash, but you will have an enhanced credit position to do other things with if you wish.

I suggest you read the brochures quite carefully...all the details will be there!

Mega good luck FOG

Hi HUSTLER markymar

I think its oil I see, forgot to mention DES went up through a falling window today. This is generaly seen as resistance, DES has closed well above the window. This can be taken as another good sign. Maybe it is a Range Rover, you put oil in them.

Kind Regards

Eddie

On a tip site i use, they think oil will be $62 dollars very soon

In the falkland they think it would cost $18 to $21 to extract and take it away so you can see if oil is found then profit margins are big.

Remember live oil was free flowing in shell block and others had shows and when you find some oil there is more near it.

Keep them thoughts more to come!

Eddie them twins will not have to want for anything apart from love from parents

Blue sky

Markymar

Hi Eddie, thanks for your ongoing work. I was wondering what you thought of the state of the RSI & stochastic indicators that you have mentioned in the past. We've had a decent run up from the 28.5p low and I am concerned about potential for a near-term pullback (let's call it better buying levels), as the momentum indicators are into overstretched territory. Also there is a potential 'dark cloud' - but that will hopefully change by the close.
My point being, if we are due a pullback, where do you think we will re-base?

I think 38p should be seen as a good level to buy. It's the rising trendline off the low and also the 60-day moving average. Plus in Elliott terms, the peak and 37.25p (3 Jun) should stay intact to allow an impulsive (5-legged) rally off 28.5p.

Regards
Lynnzal.

Hi all

Hi Lynnzal

Yes the momentum indicators are looking slightly streached. But I thought there was still room to manage over the 200 day moving average. Todays candle is a bearish counter attack, it does have bearish implications, but needs confirmation of trend reversal. The pattern isn't quite as bearish as dark cloud cover, ie the close hasn't gone to far into yesterdays close. This doesn't mean we don't have to be carefull. But cofirmation is needed. Des has made some great gains over the past few weeks, the bears will be looking to take some profit. I also think the fact this is just about the issue price, we may see more volume, the bulls will have to stand their ground. It looks like a big battle may take place. Lets hope the bulls have the upper hand.






Good Luck All

Eddie

Cheers Eddie.

Cheers for that Eddie and lynnzal good to see thoughts

Am quiet Bearish at moment as things going on in back ground and not a rig as its all hype.

After Calgary out of the way i dont know the time frame or if we have smiley faces at moment news will be with in the month and rig sorted