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 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.

Eddie thank you for that.

I think with Rockhopper float the price will rise i just hope they can get the 30 million they are asking for what I have been told of the prospectus I feel it is out of date to what I know now.

Very interesting what Oily has said that there are 2 Rigs available to Desire and I trust Oily word 100% even though he is Scottish and last to buy a drink.

Reason to be glad

KO on holiday

Evil Weasel banned from iii

FOGL down DES up

And you can post on iii for a week before that idiot gets back.

I think happy days are back in fact am going to open a bottle of the finest Morrison wine at 2.99 wine as Rudys bar is just opening up the tight git he should be up in Scotland as well, us Northerners no how to be hospitable.

I like the Capts post about pickling today,

Marky

Hey Up, Marky. The bar opened late tonight, 10.30. Oh I do like the scots, back up there soon hopefully, where they take my english poonds off me gleefully and keep me locked in indefinately...heaven. But what's better fun is bringing scottish poond notes back to yorkshire and cashiers saying they're not acceptable...get them in your till girl...thems there notes are legal tender...great fun. By the way Marky I can't afford wine, it's finest ASDA 5% pils for me then 9% ASDA lager for the kick. See you soon Marky hopefully and cheers Eddie and Lynnzal and Capt don't fall down that chimney, you might find some fizzy tangerines and the rum gone. Cheers Ruddy

markymar,

"FOGL down DES up"


Pillock!!!

I dont know if anyone has noticed but another huge buy for 175,000 shares went through just after 5 I would think there is some people buying in the know or news is leaking but either way I think the price will continue to rise and it is Friday tomorrow always a good day for Desire.

Hi all

Thanks markymar.

Yes I had noticed, I also noticed the volume had increased, with a lot more buys than sells. I don't know why the share price didn't go up though. The candle that we have is a doji. Doji candles are normaly good at calling tops to a up trend. The fact that we are still bellow the falling resistnce line could still hold DES back. But I think the length of the lower shadow is suggesting support at the bottom of todays candle. The last buy that markymar has refered to may also be a good indicator, as buying late & leaving a large chunk of money over night may suggest someones in the know. The doji also indicates idecision, the market hates indecision. So lets hope they decide to rally, Fridays as markymar says is a good day for DES to go up. There may be a gap up tomorrow with the last buy, this may add some fuel to the fire. The 200 day moving average is now just above 0.4500p. The 10 day moving average has just come up through the 20 DMA, another good indicator.





Good Luck All

Eddie

Hi all

I will post a three month chart today, you can see todays candle better. Todays candle is a dragonfly doji (not the one shown on this chart, this one is a long legged doji). Dragonfly doji's normaly work best at the bottom of a down trend. However after todays trading I think it is still significant. The dragonfly normaly indicates support. Todays close is now above the falling resistance line, this is why I think the candle is significant (offering support). If this is correct then we may well see some good gains next week. The 200 day moving average is above 0.4500p also. The 10 day moving average is above the 20 DMA. DES just needs to stay above the falling reistance, all should be well.




You may as well have the weekly chart fer DES. Each candle has a weeks value.




Good Luck All

Eddie

Eddie, thank you for regular chart updates. The weekly chart looks much more encouraging and poised for a breakout, it'll be interesting to see if we get a breakout before August 9th.



Interesting article in The Business today about the majors looking for new offshore frontier prospects. It particularly mentions the Faroes and Madagascar but could equally well apply to the Falklands. Exxon have done a farm-in deal with Sterling Energy which previously had 100% interest in 13,100 sq miles but sold 70% for a free carry. The less upbeat news is that Sterling have only risen 5% since the annoucement. That is explained by the 3 year wait while Exxon carry out some technical study and some 2D after which they may chose to do some 3D and drill 2 wells on each prospect - so what deal would they have offered if the 3D was already done?

The market for doing deals seams to be improving all the time and offering 70% to a major for a free carry in a frontier region seems the norm now. So that must mean the chances of a deal closer to 50%, which it seems our directors are after, is getting closer for a more prospective area with previous oil shows, plenty of gas and completed 3D. Looking forward to the effect of the Rockhopper float,

Luckyswimmer

Having problems posting the link, so go to the address below then select World Business from the menu on the left

"http://www.thebusinessonline.com"

luckyswimmer-thanks for that-interesting article,yet once again,falklands is not mentioned as a possible new frontier.

let's hope that the rockhopper float will raise our profile a bit.

....interesting about sterling giving up 70%.

worth remembering that des has 85% of its interests still in tranches c and d not to mention 100% in tranches i,l and now f.

No success is guaranteed in any upcoming drilling,but if there is a conclusive result then the upside for the share price is quite considerable,to put it very mildly.

POtentially,we could be looking at nothing less than the most explosive stock performance of the decade.

Those still in Aur will fully agree with your last post.
One of the last frontiers to be exploited and
we all hope Des will win the race.
If and remember it's still a big If we strike the
volume as predicted by the board, we can all calculate
in our own way the value of the company which
is potentially mindblowing. However if we don't find oil or gas
we will be Hero to Zero overnight.
The upside before this, is the date we are going to drill
and we need this quick to rebuild momentum.
The market makers will have a field day and it will not for
the faint hearted. As some others, my head is ruling my
heart,but staying in for the ride.
All the best to all posters.
HUSTLER

Hi all

Thanks to all for the updates.

It looked like DES was going to close down today, but it seems like the bulls were waiting to buy DES at the lower price. There was quite low volume which could mean the bears aren't over doing the selling either. Although DES only moved up slightly, it is still a sign the bulls are still about. DES managed to stay above the falling resistance line, which should now become support. The 200 day moving average has moved up slightly also. The last few candles are showing indecision, I don't think this will continue for long. The fact that DES is now above the falling resistance gives me rason to think DES is intending to move up.





Good Luck All

Eddie

Cheers Eddie

Thanks Eddie.
Most oil growth stocks were up today,
and Des still moved up against an early fall.
Hope news of a rig is not far away.
All the best
HUSTLER

What's the problem with adding links on this thread Markymar?

FYI News of another farm-in deal.

LONDON (AFX) - Premier Oil PLC said that it has added a UK well to its near
term drilling programme through a farmout of its North Sea licence P1048 to
Oilexco North Sea Ltd.
Under the terms of the joint venture between the two companies, Oilexco will
fully fund Premier's drilling operations in the site, as well as on the Palmino
prospect, in return for a 21.25 pct share in the licence.
Drilling is planned for December.
Premier Oil chief executive Simon Lockett said: "We are very pleased to have
added a further well to our active exploration programme at zero cost".
har

Hi all

Thanks for the updates.

I'm not sure what has been going on today with the trades. These are the figures I have for todays trading. (Total trades 33. Buy 14. Sell 12, unknown 7). (Volume total 559 thousand). (buy 475 th), (sell 62.5 th), (unknown 8.6 th), (Total value thousands 227), (Buy 194 thousand), (sell value 24.6 thousand), (unknown value 8.6 thousand). It would appear from these figures DES should have moved up. Todays candle is another doji, which is suggesting the market is in a state of indecision. DES is still on top of the new trend line & is still above the falling resistance. The lows are getting higher & the highs are getting higher. The 200 day moving average is also moving up. These are all good indicators, lets hope the market sees it the same way. The Britishbulls.com have DES on a buy if signal. A gap up would be nice (wishfull thinking).





Good Luck All

Eddie