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

cheers lyynzal

Hi all

Don't know if anyone is in the mood for a chart yet.

Today the bulls moved DES up in a strong move, which looks likley to continue. Thats not to say the bears wont have a go at pushing DES back down. On todays chart I have changed the 200 DMA for support & resistance lines. The line formed at the bottom is the support, this means if the bears do try to push DES back down the bulls should respond at or before this line. If you look at the resistance it has quite a sharp slope, it is unlikley for des to have a problem with this as it will move up each day. So if you look at where the share price is at, then compare it to the resistance line. You can see the gains which could be made. So it looks like DES has good reasons for moving up. DES was 3rd highest gainer in its sector today.






Good Luck All

Eddie

Thanks Eddie I agree totally with what you are saying.

Good to see DES on the up.. did we get wunna them dragonflies on the weekly candle chart? (Eddie will talk us through that, I'm sure). I'd like to see it break former support at 38.5p as it would endorse the impulsive nature of the gains from 33.75p. Topside targets were posted 6 Jul #1507.

From the newswires earlier today-
13:11 RTRS-G8 COMMUNIQUE CALLS FOR SIGNIFICANT INVESTMENT IN OIL EXPLORATION, PRODUCTION, ENERGY INFRASTRUCTURE

Regards all
Lynnzal

Morning all,

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/07/10/cnrock10.xml&menuId=242&sSheet=/money/2005/07/10/ixcity.html

Rockhopper aims to raise 30m in float
By Sylvia Pfeifer (Filed: 10/07/2005)


Rockhopper Exploration, an oil and gas company planning to drill in waters off the Falkland Islands, is hoping to raise 30m in a flotation on London's Alternative Investment Market early next month.
The company, chaired by Pierre Jungels, the former chief executive of Enterprise Oil, which was bought by Shell, the oil giant, for 43bn in 2002, will start marketing this week for the flotation. Rockhopper is expected to be valued at around 70m.

Jungels, who joined Rockhopper as executive chairman in January, has hired a number of heavyweight executives, including Chris Walton, the former finance director of easyJet, the low-cost airline.

"It's very exciting," said Jungels. "The key to me is that in today's world, the whole oil industry is back in exploration mode."

Rockhopper has been awarded a number of licences in the North Falkand basin, including some previously owned by Shell. The company has also acquired a stake in a drilling prospect alongside Desire Petroleum, another British oil explorer.

Independent research estimates that Rockhopper's exploration prospects could hold 500m barrels of "risked recoverable" reserves.

Hi all

Thanks Lynnzal, markymar

As you can see DES has started to move up from the lower support line. We need to close above 0.3975p to close the falling window which appeared last Monday. If DES closes above the window we should then expect a continuation. The top of the window is still regarded as resistance. The last couple of candles have shown good strong bullish moves, so there every chance of closing this window.






Good Luck All

Eddie

Hi all

Not going to post another chart, there is one on the board still. DES has now closed the falling window & is looking good for continuation. The 200 day moving average is looking closer again. Lets hope we pass up through it this time. DES was the 6th highest mover in its sector today.


Good Luck All

Eddie

Eddie,

How dare you have the night off on tuesday your a SPIV and i know only 9 of us post on this thread but a lot of silent people watch and feed back from you and Lynnzal.

Keep up the good work there is light in the tunnel even KO watchers your posts and he is an ar** hol* but thank God he does not post on here but he can not put a sentence together

Maybe the silent may just say 1,2,3 4 ect that they watch this thread it maybe not the the no1 thread but we like your thoughts on the graphs and what you think. respect is given and i hope the silent ones just say hello.


Well done Eddie every night and Lynnzal

Hello Marky.
Had a few tonight have you, a few to many it would seem
from your last post, not to worry i also post when w######d.
However after Des statement after hours 2 Fri ago which i
was incenced by, the market didn't react to bad, but on reflection
mid to high 30t'ies shows it was in the price as a rig was not forthcoming
and the market knew it b4 we did, after all we all bought the offer at 45p
thinking it was cheap when the price was 50p plus now we have survived
a meltdown we should look to the future. The board have to send out some
positive news ie rig and drilling date this side of xmas, a waiting game
it was always going to be,we are however leading the race by far in the
north falkland basin. Nearly sold my stake but resisted i still think given
time it will work and be a winner.
Many thanks to you Marky, Eddie, Lynnzall, and others for keeping the thing
going, keep it up if it works, in time it will be a pension beyond belief.
wishing well
HUSTLER

Hi all

Thanks markymar.

I didn't post because the chart was still there from the weekend. Well it took a couple of weeks to correct DES's announcement. So those who felt negative about it should be out. This should give DES a chance to advance on its own merit.

HUSTLER

Hope your heads not to bad today. Glad you stuck with DES, I'm sure you will think this in the not to distant future. As you said the market seem to know things before we do. This was evident if you look at the doji at the top of the chart. The market started to turn before the raising of funds was announced. So if there are some wispers I'm sure we will see this in the charts. The fact that DES has now retested the low of 0.2850p, should mean it's ok to move up.


Good Luck All

Eddie

Hi all

Thanks markymar.

I didn't post because the chart was still there from the weekend. Well it took a couple of weeks to correct DES's announcement. So those who felt negative about it should be out. This should give DES a chance to advance on its own merit.

HUSTLER

Hope your heads not to bad today. Glad you stuck with DES, I'm sure you will think this in the not to distant future. As you said the market seem to know things before we do. This was evident if you look at the doji at the top of the chart. The market started to turn before the raising of funds was announced. So if there are some wispers I'm sure we will see this in the charts. The fact that DES has now retested the low of 0.2850p (0.3375), should mean it's ok to move up.


Good Luck All

Eddie

Hello and thanks to all from "one of the silent ones"

Marrow

Thanks from me too !! Without the efforts of Eddie , Marky , Lynnzal i poss would have sold my stock !
Please keep it going .
Regards Berlingo

I thank you for all the items each day on des.What are your thoughts on bids for desire or merging with say Rockhopper?

Thanks for all support out there, I'm glad the analysis is of some use!
Support in the 34.5p area held well and I am encouraged by the subsequent recovery gains through 38.5p and subsequently 41.25 as it confirms that the sell-off from 45.25p was corrective in nature.
Breaking down the rally off the 33.75p low suggets that we may have seen the top for the time being (chart suggested 41.5p as likely target). If this proves the case then I would expect a minor pullback towards 37p (maybe slightly below) over the next few days. As things stand though, I would use this dip as an opportunity to buy as all the signs are saying more bullish action ahead. If the market continues to edge higher through today's peak (42p?) then we are likely to see an extension towards an objective at 47.5p before seeing a minor pullback. NOTE - this is all part of the anticipated rally towards 61p (posting #1507).
Regards
Lynnzal

By Tom Cahill
July 14 (Bloomberg) -- Pierre Jungels, who ran Enterprise Oil
Plc when it was the U.K.'s biggest independent oil producer, is
back in the hunt with a prospect he says has been overlooked:
north of the Falkland Islands in the south Atlantic.
Jungels, now executive chairman of Rockhopper Exploration
Plc, this week started meetings with investors to raise 30 million
pounds ($52.8 million) in an initial public offering on London's
Alternative Investment Market. The proceeds will fund drilling and
seismic surveys north of the Falklands, remote islands with
roughly one resident for every 240 sheep. Argentina and the U.K.
fought a war over the islands in 1982.
Jungels was chief executive of Enterprise for four years
until October 2001, six months before Royal Dutch/Shell Group
bought Enterprise for $6.2 billion. Rockhopper's prospects include
two blocks Shell explored in 1998, when oil prices on the New York
Mercantile Exchange sank as low as $10.35 a barrel, compared with
more than $60 today.
``The Shell geologists wanted to stay, but they were barred
by management by what was then a $10 a barrel oil price,''
Jungels, 61, told investors yesterday at a lunch at the Hotel
Lotti, a block from the Tuileries Gardens in central Paris.
``There's a saying in the oil exploration industry: `If you want
to find oil buy ex-Shell acreage.'''
Shell spokesman Simon Buerk said the company couldn't
immediately comment on its activities in Argentina.
The British Geological Service estimates that as many as 60
billion barrels of oil may be generated in the North Falkland
Basin, where Rockhopper has its exploration blocks. The previous
six wells drilled there focused on its center and not the margins
and deeper levels where Jungels said Rockhopper plans to explore.

Penguins' Home

``It could be another basin the size of the central North
Sea,'' Jungels said in an interview. ``When we were at $10 oil,
Shell said `Let's cut back and focus on core operations.' Now that
we're north of $50 they might wish they could look again.''
Since leaving Enterprise, Jungels has been president of the
U.K.'s Institute of Petroleum and chairman of Offshore Hydrocarbon
Mapping, a surveying company that listed on London's AIM market in
March 2004.
In February, he joined Rockhopper, named after the penguins
that make their home on the Falklands. The Salisbury, U.K.-based
group controls four exploration licenses covering 5,820 square
kilometers and has signed a farm-in agreement for two more
licenses with Desire Petroleum Plc, an explorer based in
Worcestershire, England.
Jungels said that as a pure exploration company its prospects
range from zero to ``billions.''
``This is for the brave. You could lose everything,'' Jungels
said in the interview. ``There are not that many virgin areas
left, this is one of them. And if it's not truly virgin territory,
before it was just tickled.''

--Editors: Osborne, Coulter

My thanks too to Eddie, Lynnzal and Marky. Particularly find all the charts and comment useful. Also this is a much friendlier board.

Regards the fat one

Hi all

Well thank you all for your comments & postings. Much appreciated.

Today we had slightly less volume than yesterday, the bears managed to push DES down a little. As lynnzal says there may be pull backs, I say this because of the falling window which appeared in mid April (Friday 15th). DES traded up above this window on intraday today. The market may have been just testing this for tomorrow, just to see how strong the bears are. Although todays candle does have bearish implications, we will need to get confirmation tomorrow. I think the bulls are leading the bears into a false sence of security, letting them take DES down a little today before a push up again tomorrow. DES has made good gains since the its announcement on block F, it would appear the general consesus is to continue up.





Good Luck All

Eddie

Nice post again marky

well jungels always seems very upbeat and that's a positive sign

keep posting gentlemen:marky, your credentials are well known on maoneyam,iii and advfn;lynnzal and eddie, your posts are always read with interest by me.

good luck all , and kindest regards.

Lynnzal ===whats on your mind dont understand iii you know email to me is open on here and respect thoughts.

AUR thankyou you will be rewarded in gold i hope.

Eddie the axe is out soon and sharpened maybe i should keep it blunt for KO

Hi all

It looks like the window is proving a little harder to close than I thought. The volume was quite low today, with very few buys. This has created a falling trend line, which may sugest either consolidation or retest of the recent support line. If you look back to 23/06/05 this is where DES fell bellow the windows support. DES then had some consolidation just under the top of the window (which had then become resistance). As it stands now DES will have to make about a 0.03p gain to close the window, so it may take few days. It looks like a symmetrical triangle that is forming, this will mean DES will have to break either up or down. I would definatly prefer up, as generaly we would see quite a big move after the break. (we will have to see if it is a true symmetrical triangle that is being formed)


Hi all

I'll not bother putting a fresh chart up, as it will be just the same. Not much volume again today, very little buying. the bears had thier day. At the moment it looks like we're having a bit of a problem with the falling resistance line & the open window. We may see the support being tested again. DES is sitting on top of the 10 day moving average at the moment, which is also moving up slightly. The 200 day moving average is also moving up, so all being well DES should also be moving up soon.





Good Luck All

Eddie