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 all

Thanks aur, fatoldgit & Lynnzal.


The bulls tried to move DES up again today, but the bears were back in selling again. The main thing for today is the closing price didn't close under yesterdays open. This means the bulls still intend to move DES up. The volume was a little higher today. We will need to see a bit more action from the bulls before the bears will back off. I still feel this is the area at which the retracement may have finnished. So lets look forward to some bullish action tomorrow.

fatoldgit don't drink all that wine in one session !

Lynnzal hope you find out how to post an external chart. I think that would be great !






Good Luck All

Eddie

keep posting edd

look forward to your price targets lynnzal


regards all

Me 2
Excellent postings from Eddie , Lynnzal , Marky .
Regards Berlingo

If the link works, this should show you my wave count for DES since July 2003.

Well, the chart didn't seem to work so I'll see what the helpdesk gets back to me with.
Meanwhile, I have been taking a closer look at DES to see what we might expect over the coming sessions. I have mentioned 37.25p in one of my previous postings as being an important support level and that remains the case. While DES is above there we appear to have completed an 'a,b,c' correction from the 45.25p peak (21 Jun). That correction is currently labelled as wave 4 within the recovery rally from the 28.5p low and we are now beginning wave 5.
Now there are various ways in which the terminus of wave 5 can be projected and we can only know as the rally develops, which is the most likely to be correct. Having run through the various permutations however, I see the most likely peak coming in the 48.5p region (range 47.25/49.75p). Note 48.25p is key in confirming the end of the correction from 69.75p. If bullish momentum builds then it is possible that wave 5 will extend to the 55p area and at an extreme 65.5p before further consolidation is seen. A minimum objective for this current bull move is in the 44p area.
When the market breaks 48p I will update the longer term projections.
Regards all and thanks for all the input.
Lynnzal

Hopefully this works for the chart. It may take a while to load, so I will convert the file type and make sure it is readable as soon as I get the chance.
Lynnzal

Hi all

Thanks for trying Lynnzal, I'm sure you'll sort it.

Berlingo how ya doing ?

Not much volume today, the bulls did manage to take DES up still. It looks like the bears arn't to keen to sell at this price. This may give the bulls a bit more incentive to push the price higher. Maybe some more consolidation first, or the market may be expecting some news. We have a buy confirmation on Britishbulls.com. As markymar says friday is a good day ! Des is sitting above the 60 day moving average, the cadles are above the 20 DMA but bellow the 10 DMA. We are also about the middle of the billinger band area, which means there's room to move up a little before looking over sold. The top of the bands are at about 0.4500p. This may be why the bulls aren't pushing to hard yet. We need a good days volume to open the bands up a little more.








Good Luck All

Eddie

Cheers Eddie and all for input i see we have a buy again
http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S

But there again it is Friday soon now Eddie why is Friday always a good day 80% of the time ?

Hi all

Thanks Lynnzal, The chart looks great !

Kind Regards

Eddie

Lynnzal, Eddie thank for the charting stuff quite fascinating.

My thanks too, to Eddie and Lynnzal....very useful stuff.

Today is the first of July, and if my detailed calculations are correct, I believe that in six months time it will be the 1st January, 2006!

I think that the next six months are going to be absolutely fascinating for the Desire share price.

Despite the fact that a rig has not yet been announced, I have no real reason to believe that drilling will be delayed either (in fact some rumours suggest news is due quite soon). So in the said six months, we might well have a rig on site preparing to spud.

There has been a lot of comment about what price the shares will be as the drill bit enters the bottom of the sea. I prefer to remain more cautious than some and think that something around 1 looks possible. That will ascribe a value of 200+ million to Des, which is asking quite a lot. However, I am prepared to acknowledge that should the right conditions apply (eg higher oil price, crazy journalists, thin markets due to Xmas etc.) the price could be higher.

Two other factors interest me

1. Who will have the guts to be short as the drill goes in...not many I think.

2. A lot of investors and bb posters have plans to sell a piece of their holding to take a profit and get a free ride.....will they actually do it or will greed get the better of them? I think there will be some considerable reductions in stake size in the weeks before drilling but most of this will hopefully be taken up by Johnny-come-latelys.

So all in all a fun ride for a few months with the prospect of a steadily rising share price....roll on Xmas.

Hi all

Here is another chart showing support & resistance levels. I did post it last night but it had gone mad by the morning. DES is sitting on the support at the moment. We have a doji on the intraday, but this may change.






Good Luck All

Eddie

Hi Eddie
Doing well , thanks. Being patient cos our time will come. Volume a bit low today , lets hope we get more after lunch !
Kind Regards
Berlingo

Hi berlingo

It looks like we may get a flat liner( four price doji). This is where the open , high, low & close are all the same. It was a four price doji just before the recent move up.

Kind Regards

Eddie

Now that I have sorted the chart problem I can point out the features more easily. As a quick recap from the chart I have annotated (below), we can see that the primary wave one topped in Jan 2005 and primary wave 2 appears to have terminated at the end of May, after the intermediate a,b,c lower. We are currently staging a minor five wave advance and it looks that minor wave 4 ended at 38.5p. Minor wave five should 'most likely' extend to the 48.5p area, which in turn will comlete the intermediate wave one off the 28.5p low.....

In anycase, consolidation above 37.25p is a good sign that the next move is up!
Enjoy the weekend all.
Lynnzal

Thanks Eddie . Nice chart Lynnzal .
Berlingo

Hi all

Thanks Lynnzal.

berlingo you can go out now.

fatoldgit not wine over the weekend.

markymar sure your on the brown ale already.

I'll not bother with a chart.

Good Luck All

Eddie


Desire Petroleum PLC
01 July 2005


Desire Petroleum plc

Production Licence

The Board of Desire Petroleum plc (Desire) are pleased to announce that the
Governor of the Falkland Islands has approved the assignment of production
licence PL005 from Talisman Energy Sweden AB to Desire effective from 25th
November 2005, which is the end of the first exploration period of the licence.

PL005 comprises of Blocks 14/24 and 14/25 (1599 km2) which are the remaining
blocks on Tranche F in the North Falkland Basin. All of the work commitments for
the first exploration period have been fulfilled. The second exploration phase,
beginning 25th November 2005, requires the drilling of one well and, as of that
date, Desire will hold 100% of Tranche F and become the Operator.

Dr Ian Duncan, CEO of Desire, commented: 'We are very pleased to have acquired
100% of Tranche F, which lies immediately south of the Liz and Beth prospects in
Tranche C, both of which may be drilled as part of Desire's three-well drilling
programme.
The current, world-wide rig market is very tight as a response to current high
oil prices and we have not, as yet, been able to acquire a suitable rig for the
three-well programme.
However , essential work for the programme is progressing well in preparation
for drilling in 2006.'

Contacts: Dr Ian Duncan 01684 892242
Mr Stephen Phipps 020 7409 2138




This information is provided by RNS
The company news service from the London Stock Exchange

No worries eddie,

Plenty of wine booked in...small delay for DES no problem ...bit of a winner on the nags today.....there's always something to be happy about.

Why does DES issue aRNS at 5.30 pm on a friday after markets close, no possibility of any spike in SP.