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

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

http://www.bnamericas.com/story.jsp?sector=9&noticia=324071&idioma=I

Rockhopper to raise US$53mn for exploration in early Aug - Falkland Islands
Published: Monday, July 18, 2005 13:36 (GMT -0400)

UK company Rockhopper Exploration plans to raise 30mn pounds sterling (US$52.6mn) on the London AIM stock exchange in early August for exploration offshore the Falkland Islands, a consultant at Rockhopper's PR firm Aquila Financial, William Davidson, told BNamericas.

Rockhopper will be the third UK company after Desire Petroleum and Falkland Oil and Gas Limited (FOGL) to list on the AIM to obtain financing for exploration in the Falklands.

"There has been appetite certainly in London and the European markets for small oil companies to raise money and list, that has been the case for the last 12 months at least," Davidson said.

Rockhopper was awarded two licenses in the North Falkland basin, PLO32 and PLO33, in early June covering 1,620 sq km and bringing to four the number of licenses it owns in the basin.

In December 2004 the Falkland Islands government awarded Rockhopper licenses for the PL023 and PL024 blocks covering an area of 4,203 sq km some 50km to the north of the islands in the northern basin.

The two licenses awarded in June were formerly held by Anglo-Dutch company Shell, which carried out a 3D seismic survey and two-well drilling program on the acreage in the 1990s. Oil and gas shows were found in one well and oil shows in the other, but neither well was tested.

"That was a time when the oil price was substantially lower than it is today, so the economic bar was much higher then," Davidson said.

"Oil at US$60 a barrel means regions that wouldn't have been economic at US$10/b are now economic. In general, attention is turning to areas previously overlooked or deemed uneconomic and the Falklands falls into that category," Davidson said.

Rockhopper plans to conduct an extensive 3D seismic survey over its acreage during the next two years.

"We are in discussion with a number of seismic contractors about beginning work on our existing acreage and are excited about the drilling program we are undertaking with Desire," Rockhopper executive chairman Pierre Jungels said in a statement in June.

In February the company signed a memorandum of understanding with Desire Petroleum to farm-in to three wells to be drilled on Desire's acreage in tranches C and D also in the northern basin, where sizeable prospects have been identified.

Rockhopper has already identified a number of prospects and leads in its own license areas.

The Falklands benefits from a "benign taxation and royalty environment and this, combined with the relatively shallow water depths in the Rockhopper licences, mean that discoveries of less than 50 million barrels could be economic," the statement said.

By Julian Dowling
BNamericas.com

Falklands-Malvinas
Tuesday, 19 July


Falklands at Calgary oil conference



Interest in the Falkland Islands at the biggest worldwide oil exploration conference was down this year; however this has been attributed to increased use of the Mineral Resources Departments website.



The American Association of Petroleum Geologists (AAPG) Conference is an annual event held in North America. This years event took place in Calgary, Canada last month and the Falklands were represented by Councillor Stephen Luxton, Director of Minerals and Agriculture Phyl Rendell, Oil Statistics Manager Alex Blake and Phil Richards and Bob Gatliff from British Geological Survey.
Councillor Luxton said the event was well attended with over 7.000 delegates though there seemed to be less interest in the Falklands stand than in some previous years.

As always though, it was a handful of very good contacts that made the event worth attending, rather than the total numbers of people visiting the stand, as the majority of visitors only have a casual interest in the Falklands.

He said the emphasis on the Falkland Islands Governments activity at the conference has changed, ...from marketing to potential new license holders over the last few years, to now mainly providing information on the farm-in opportunities available with existing license-holders who are well advanced in their seismic exploration programmes.

He added that the excellent and comprehensive Mineral Resources website www.falklands-oil.com has also reduced the number of personal enquiries, ...as many interested companies can now access much of the information they require on-line.

The North American AAPG is believed to be the biggest worldwide oil exploration conference and attracts delegates from virtually every sector of onshore and offshore minerals worldwide.

Councillor Luxton said many companies have very large and elaborate stands there promoting their products, but for us the main interest is in making contacts with new venture exploration managers of oil and gas companies, and providing them with information which they may then pursue to either a license application or a farm-in with an existing license holder.

He said a number of useful contacts were made during the conference. (PN).-

Chart update
Last Thursday (14 Jul, #1532), I suggested that we may have formed a near-term top (my chart indicated 41.5p as the likely target). This proved to be the case and the subsequent setback has since reached my initial objective in the 37p area. I would now like to see support here hold for the next impulsive leg higher. Assuming the 37p area can hold, we can expect to see gains towards 49.25p/50.5p. This would confirm the end of the corrective bear phase from 69.75p (assuming we hold over 48p as we should) and allow for further strength towards a target at 61p further out.
If we fail to hold todays low then we could see a re-test of the 6 Jul low (33.75p) and I will re-assess my calculations.
Regards all and thanks for the daily updates Eddie. I appreciate hearing your perspective.
Lynnzal

Hi all

Thanks for the updates markymar & Lynnzal.

It looks like the support held out today, I think this was a definate test of the 0.3700p that Lynnzal is refering to. Todays trading had low volume again, there were more buys than sells, unfortunatly the price didn't close on a plus. This was due to the low opening price of 0.3675p. The bulls did manage to push the price up off the lows of the day, but not in to a positive close. The pattern that is forming looks like a morning star, however it is not the classic pattern. If this was a test of the support area, then we will need to see some more action from the bulls. I think a possible rally, otherwise the bears may push DES under the support.





Good Luck All

Eddie

Hi all

Good to see DES went up today. The volume was quite low again though. The chart is slightly different than the one above, it has the 200 day moving average. The 200 DMA is now just under 0.4500p, this was the price at which DES raised the money for its drillling programe. Also the 200 DMA is now moving up which we can take as a good indicator. The 10 day moving average is also about to move up through the 20 DMA, another good indicator. Looking at the last chart you can see there is still some restance (the falling resistance line). DES is but upto this resistance, I think DES will pass through this tomorrow (all being well). Britishbulls.com have a wait signal after a sell, I feel sure this will be a buy signal again soon, todays candle is bullish so I think we will seen more of the bulls. Tomorrows trading should confirm the markets intentions. A gap up would be nice. If you look at the top of the chart, you will see the key for the chart indicators.





Good Luck All

Eddie

Cheers eddie.

Interesting to see increasing speculation/rumours about rigs appearing on other bb's.Time will tell if the rumours turn out to be true.

I think the imminent flotation of rockhopper is very significant for desire shareholders as it gives us another source of information.I am pleased that the level of institutional backing is very solid and am sure the issue will be enthusiastiacally greeted by private investors.If only an announcement of a rig contract would come shortly or immediately after!
But nevertheless,it is a waiting game at the moment,and I am willing to wait.
KInd regards and good luck all.