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

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

Hi all

Thanks for the updates. Much appreciated.

Unfortunatly DES took a dive today, lots of heavy selling as luckyswimmer has said. Todays candle is a bearish engulfing pattern, it definatly looks bearish. The candle needs confirmation tomorrow to show if the market intends to go down. The trend over the past 51 days has been up, so some consolidation generaly takes place. There is still a rising support line which isn't shown on this chart at 0.3850p, this is at the bottom of the shadow of the small candle just before the gap up. If DES closes bellow this, then we may see a lower price. The market may just want to test the support again before moving up. The 200 day moving average is still rising & is at 0.4543p, the other moving averages are also moving up. As I said in my last posting DES needs to close above the falling window which is at 0.4150p. DES has tested this area twice already, normaly the area may be tested upto 3-4 times before going through. I generaly work on 3 times. So lets see what tomorrow brings. (Hi volume buys, maybe wishfull thinking).



Good Luck All

Eddie

Hi all,

Today there were a lot of big selling as pointed out and one of my thoughts were it could of been Greenwhich Resoures trying to raise some more cash by selling part of there stake in Desire as the have no money and i lot to pay out on court cost at moment.

LONDON (AFX) - Greenwich Resources PLC swung into a pre-tax profit of 141.000 stg in the first half from a 214,000 stg loss a year earlier, due mainly to a 425.000 stg gain from strategic sales of parts of the holding in Desire Petroleum PLC.

That was the news from the interim accounts on the 29.6.05 which only left them with a profit of 141.000stg last year there Administrative expenses were (489) stg so money getting burnt away very quickly.

Anyway just a thought and it could be some one in for a quick killing on Rockhopper selling out of Desire but I would of thought we should not mirror Rockhopper but there share price should mirror us as we hold the cards.

As for the Rig if you have read the prospectus for drilling to start the Pride South Atlantic has to be favourite as it is in for a refit after it contract finishes in December and stick the time for re fit on and to sail down to the Falklands fits the time scale from the Rockhopper prospectus but only my opinion, and just off the top of my head in the prospectus I think it said a rig from Brazil?

http://http://www.falkland-malvinas.com/Detalle.asp?NUM=6172

They say they can see $70 a barrel by the end of the year and also mention Iran been the second biggest producer of oil but am going to do a ZZ here and just look at the possible bigger picture and point out the troubles in Iran at the moment with continuing of the nuclear program which is causing a lot of problems at the moment even the UN has been at them about and been talk that USA may go in and if they did could you imagine the price of oilJust a ZZ moment there you never know.

Thank you for the link Capt, I realise I have not been keeping up to date with Desire's own site. Now I understand that the mature kitchen is biased to the eastern, deeper side and so favours Anna, our second drill target. Slides 13, 16(my, isn't Phyllis a big girl?) and 20 clearly show why triple decker opportunities abound, slide 16 even suggests that 5 targets could be tested from one well, that should make for an exciting well No.2.

I also realise on closer examination of the prospectus that $110,000 per day, not $145,000 is the expected rig hire rate for Desire's initial campaign and yes, Marky the prospectus mentions out of Brazil so hopefully Rockhopper knows something we don't. We should soon find out with an RNS if the culprit was Greenwich. Thank you Marky, Eddie and other posters for keeping this board informative as usual.

Luckyswimmer

i think greenwich are already under 3% so i do not think there is a need for a rns even if they sell them all. That 504943, was a strange figure and i suppose it could be someone selling out their entire holding, but as has been said, why?, i'd guess it could be a buy but still strange figure and why did it not move the sp also most sells were equal to or above that price meaning the mms would have lost money on that one. also why was someone so keen to sell 200000 that they accepted 39p when the quote was 41p, thats 4000 they threw away. very strange day!!!!!!!! Anyone got a logical explanation?

ian
the market size is 50000 currently
the mm's only have to honour
the price within the spread. if you want to
dump inexcess you have to
accept or dismiss the quote given.
mm's rule again.
regards
HUSTLER

http://http://www.falkland-malvinas.com/Detalle.asp?NUM=6179

News in brief

FCO visitors.

TWO representatives from the Foreign and Commonwealth Office (FCO) have visited the Falklands this week to learn about the Islands first hand.
Sam Lones is the Assistant Desk Officer for the Falkland Islands in the Overseas Territories Department of the FCO and Ian Duddy is the Second Secretary in the British Embassy in Buenos Aires.
They visited San Carlos and Darwin on Sunday, spent Monday morning at Mount Pleasant and the afternoon and Tuesday in Stanley. They travelled to West Falkland on Wednesday.
Mr Lones left on Thursday and Mr Duddy leaves on the weekend.
Speaking to the Falkland Islands Broadcasting Station, Governor Howard Pearce said it has always been his policy to encourage colleagues from London and Buenos Aires to visit the Islands so they can, understand our situation and peoples views first hand, adding, I very much welcome this visit

http://http://www.growthcompany.co.uk/companies/new-issues/

Looks like Rockhopper float put back again

Dealings will start 31.8.06 i checked this web site yesterday and it was blank so new date today.

Mark



We have not confirmed the admission date as yet as it is subject to completion of the necessary documentation. However, 15 August looks like the date we are aiming for.



Regards

Andrea Tubb

Corporate Broking

Hi All
Des stayed buoyant today. Looking at tick up on Monday ? Straight in with some big buys ?
Interesting to see what you think Eddie ?
Regards Berlingo