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

beat me to it Eddie

More good news

Hi all

Thought you were still in bed markymar.

Looks like the trading has started early today. Gap up !

Good Luck All

Eddie

Morning all, more good news today.

I've posted this before but slides 3, 7, and 11 are well worth another look at.

http://www.ihsenergy.com/news/presentations/nape_2005/room2/falklands_richards.pdf

Hi luckyswimmer,

Anything is possible,i wonder how much oil we could be sitting on as the 2.4 billion went out the window way back need to find some more spiv girls, the story gets better and better.

Eddie cant wait to see that chart tonight,Lynzal any views ?

http://www.falklandnews.com/public/story.cfm?get=3341&source=3

ExCo also approved a draft amendment to the Offshore Petroleum Licensing Regulations 2000, which gives effect to a decision by ExCo at its April meeting to allow the Falkland Islands Government through Executive Council to open and close open door licensing as required and in specific areas, the purpose being to maximise the economic benefit to the Falkland Islands.

Hi all

Thanks for all the updates.

Without a doubt, a much better days trading for DES. Todays candle opened with a gap up, the share price closed up from the days open. The candle is a high wave candle which does suggest uncertinty in the market still. The gap up window should offer support if there is further selling. If the bulls are still feeling bullish tomorrow we should see a continuation. We have another falling window which may offer some resistance at 0.4150p 18/04/05, after that we have the 200 day moving average to go through 0.4534p. The Britishbulls.com have confirmed DES as a buy. All being well then DES should continue up.




Good Luck All

Eddie

Hi guys ,
Sorry i havnt posted for a while. As asual , enjoying the excellent posts that appear here. I feel things are getting really exciting with DES and Rockhopper . Gut feeling on this lately is positive , even though DES keep a stoney silence when things must be really happening with them and PEAK .Thanks to Marky , Lynnzal , Eddie et al.

Hi all,

A little mention in Stockmarket Reporter tonight

Desire Petroleum shares gained 2.5p to 41.25p after the oil explorer announced it had it acquired and become operator of another area of the North Falkland Basin. Desire said that the seismic surveys of the newly acquired tranche had identified two significant prospects, named Helen and Jayne, both of which had the potential to contain several hundred million barrels of recoverable oil and add substantially to the group's exploration portfolio.

http://http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S


Buy confirmed

It would be interesting to know how many billion barrels of recoverable oil Desire are now sitting on as with a further 1.4 billion today announced and with the 2.4 billion we know about and then all the extra targets in C and D the likes of Phyllis who looks like an elephant all by her self and I expect more targets in F to be given as time goes by things can not look better for this share.

Me too, ( sorry I haven't posted recently), but the wife has me decorating and fitting a new kitchen (which I can't do. )

Lynnzal...your charting forecasts have been excellent (and yours Eddie) congats to both of you!!

I feel really good about DES at the mo. There is something more around than the RNS today I think.

Short term, Rockhopper seems to be the key to the price action, I feel sure it will be a success and move DES up some more, but I would like to hear about the rig.

Marky, my parrot is speechless at the moment!!

Tucking into some excellent red now and will leave the board alone.

Notice KO back on iii and has managed 16 posts today....what happens when he gets in full swing?

He might hang himself Brian.

Things are certainly looking good and I am vey encouraged that the sp held above 36.75p and even more so that it held above 38p on Monday because it fits the extended third scenario very well indeed ! (mentioned 29 Jul #1566). The break above 41.25 endorses the impulsive nature of the extended third which met a minumum intraday objective today at 42.5p and got close to a more likely near term target in the 44/45p area. If we have satisfied the initial (intraday) bull leg then we could also have satisfied the subsequent corrective phase when we pulled back to 41p. Its great to see the close above 41p and I hope that level holds.
At this rate we may have seen the last of the 30's !?
Over the next week or so I am looking for Des to extend to 49.25/50.5p and then as mention a more satisfactory target at 57.5p.
I will probably not post over the next week due to vacation, but will endevour to make an effort if I see things on the move. Tuesday"s rally is certainly making me re-assess my top-up/buy levels with my broker...
Keep up all the posts guys, it's making this one of the most informative bb's out there for Des.
Regards
Lynnzal

Thanks Eddie,Lynnzal,Marky, And all.
This is still news driven and today confirms this.
Bring on the drill date and it will be take off big style.
Untill then it will bump up and down.
All the best
HUSTLER

Hi all

Thanks to all for the updates.

Just a little move up today. The trades appeared a little odd again today, fewer buys than sell & a lot of unknown. The candle I have doesn't have a lower shadow, which means DES didn't trade lower than the open (if sharescope is correct). This would suggest less bearish trading. The close of the day is at the falling widows close 0.4150p, 15/04/05. DES will hve to close above 0.4150p to close the window, then allow DES to move up, after that DES should move towards the 200 day moving average (0.4539p) which is still moving up. As HUSTLER says DES is very much news driven. I do feel the market is behind DES, given the right news, we may see volume of 18 million again (all buys I hope). The trend lines have changed a little. DES is above the rising support line, but is also under the new rising resistance line, DES will have to break one way or the other soon.



Have a great holiday Lynnzal.

Berlingo nice to hear your OK.

Fatoldgit I knew you were on the wine.

Good Luck All

Eddie

Hi All
500k traded by 9.30 ! Could be a high volume day . But how many buys ?
Regards Berlingo

Does not look many buys berlingo but price holding up.

Can't be long now before they get a rig.

Some thoughts on the larger trades recently.

For the last two months the price seems to have gravitated around 40p suggesting there are investors trying to buy below 40p and others trying to sell a large holding at 40p. With these large trades going through recently I think the outcome of the battle should be known soon. It's surprising that the seller is not waiting for the positive effect of the Rockhopper float - maybe he's one of those lucky enough to be invited to the Rockhopper placing and wants to raise some money for a short term profit. I can certainly believe people such as Richard Visick would be investors in both companies.

I can't see any other explanation for chunky sales before the Rockhopper float - any other views on these large trades?

For those with access to the prospectus, figure 3 on page 34 is the first picture I've seen of the mature kitchen and makes tranches C and D look well placed. I'm probably putting 2 and 2 together and making 5 but does any one know which rig is charged out at $145,000 a day?

Try this link Lucky

http://www.desireplc.co.uk/pdfs/figure6.pdf

I would assume that the $145,000 a day is for a rig for Rockhopper in the future.

Your point about double investors makes sence to me.

Eddie's late tonight.

This link is a it clearer Lucky.

http://www.desireplc.co.uk/graphics/slide22.jpg