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

Morning all,

So Lucky will we see another one today?

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/09/16/cniraq16.xml&menuId=242&sSheet=/money/2005/09/16/ixcity.htmlMorning all,

Just a little bit at the bottom about the Falklands...but i guess we know that!

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/09/16/cniraq16.xml&menuId=242&sSheet=/money/2005/09/16/ixcity.html

Terror threat will lock up Iraq oil for another five years, warns UK driller
By Christopher Hope (Filed: 16/09/2005)


Iraq will not start to produce "substantial oil" for at least five years, according to the boss of Abbot Group, Britain's biggest oil drilling company.





Alasdair Locke, Abbot's executive chairman, said Abbot was watching how Iraq develops but added that the war-torn country was too dangerous for his staff.

The security dangers were delaying the development of the country's oil and gas infrastructure, which would cost "tens of billions of dollars" to put right. Mr Locke added: "There is no tap you can just turn on. The situation has got to calm down.

"I can't send my people to Iraq - it is too dangerous. We know what needs to be done.

"It will be at least five years before we get any substantial oil out of Iraq, and to get from 1m barrels a day to 3m barrels a day will take three years."

He was speaking as Abbot reported a drop in first-half profits from 12.6m to 11.7m on sales down from 188.4m to 165.5m, caused by a decline in drilling activity in the North Sea.

However, land rigs rates were up by as much as 15pc from $20,000 (11,000) a week to $25,000 a week.

Mr Locke suggested that with oil prices touching $60 a barrel marginal fields around the Falklands Islands became economic. He forecast that the company was "confident of delivering materially improving results year-on-year from 2006 and thereafter".

Abbot's shares closed down 7 at 261p.

marky, very interesting, why would Mr Locke mention that unless there were already some discussions concerning Falklands.

Thanks for the chart updates Lynnzal a very good chart reader is allways hard to find.
Guess that applies to all charts.

What's the rig charts looking like Oily.

Not long to wait now.
Come on Phippsy, my Pride is at stake !, lol !!

I have a good feeling about DES now, it's time...

Today's trading above 40.25p (the 23 Aug low) pretty much dispels any doubts that the losses from the 15 Aug high (44.75p) are anything but corrective. This is all part of an a,b,c correction that started at the 45.25p recovery high (21 Jun) and looks to be the final stages (ie. the c-leg). It is possible that we have already seen the termination point of 'c' when we reached 37p last week. However, I cannot yet rule out a final push lower. Any further decline through 37p would be likely to test the 33.75p low (target 33.25p). However, things have been looking reasonable of late and hopefully we are now resuming the next stage of the up-trend (wave 3).
Regards
Lynnzal

I bought some at 38 Lynnzal. Now I need my fisheries mate to direct his asian trawlers to the rig site and get up to the minute well reports. OI!Any oil yet...Thats if he stops drinking.
F

Cheers Lynnzal,

Eddie due back today?

Hi all

Thanks for the updates Lnnzal.

Thanks to all the other regulars for your updates.

Unfortunatly DES fell bellow the rising support line on the 01/09/05. This then created a falling window on the 05/09/05. The market then decided to test the low of 0.3700p, this is where Lynnzal pointed out the hammer. The hammer is said to be hammering out the bottom of the down trend. The hammer also tested the long term trend line which is still intact, this line is off the low of about 0.0750p. Todays candle has bullish implications, but confirmation of this should be if DES closes up over todays close. DES has closed just above the 10 day moving average, which it has trading bellow for the past 11 days. Provided the support from the hammer holds DES should be ready to move up again. There may be some resistance at the falling window which is at 0.4200p. All beeing well DES should be on the move back up.





Good Luck All

Eddie

nice one eddie, welcome back...hope you had a good break.

Hi Eddie welcome back and hope you had a good holiday and the kids enjoyed them selves.

Looks like you have come back at the right time its just about to start getting interesting!

Al lot going on at the moment in background

Glad your back Eddie and EEN looking interesting at moment.

I hope you did not spend to much on presents Eddie, there is no need and the heat wave has just broke on Sunday so back to colder weather but I hear we are in for a lot warm winter.

Cheers Lynnzal and welcome back Eddie.
Great work on the charts keep it up.
However what we can't dismiss is a trading statement
is long overdue, this is bugging me at present.
Is there a rig or new partner.
If neither were are dead short term. Not withstanding if there is
positive news it will support a lot higher sp.
Anyone know when a trading statement is due.
All the best
HUSTLER

http://www.peak-group.com/cms/index.php?option=com_content&task=view&id=20&Itemid=44

Hi all

Thanks markymar, nice to see DES on Peaks rota.

Today was a day for the bears, very little buying. The candle that formed has bearish implications. The oil & gas sector went down, this may have had a knock on effect on DES. The gains we had yesterday, were all given back today. The close of today is at yesterdays open. The long term trend line is still intact, but may be tested again. The long term trend line is at the bottom of the hammer (0.3700p) that Lynnzal pointed out.




Good Luck All

Eddie

Hi all

Well DES went down again today, but has stopped just before the low (thin line under the hammer date 13/09/05). The low of the hammer is very close to the long term rising support line, support is still intact. Todays candle has bearish implications, tomorrow should confirm if the market is testing the support of the hammer & long rising support line or intends to take DES down further. There was also a gap down today which is also bearish. On the brighter side DES does look over sold. DES is at the bottom of the bolllinber bands, which is a good place to buy, the Bollinger bands have also opend up more. This means DES can have a better run up without looking over bought to soon.

I have tried to look back over the news to see if DES gave an interim announcement on 01/09/05, I didn't find any. Does any one know if there was one ? If there wasn't this may be having an effect on the share price. News of a rig & drilling programe would be nice.



Good Luck All

Eddie

Thanks Eddie and welcome back !

Cheers Eddie,

Interims due out soon as well as a new updated Desire Petroleum web site at the same time. Quiet happy at the share price dropping as funds in place and maybe dive back in for more tomorrow.

Lynnzal to cheap at moment was holding back for **p but its a bargain.you will see it go through.

Falklands-Malvinas
Wednesday, 21 September


UK has no doubts about its sovereignty over the Falklands



The United Kingdom has no doubts about its sovereignty over the Falkland Islands and there can be no negotiations on the sovereignty of the Islands unless and until the Islanders so wish, stated the UN British delegation.



In reponse to remarks from Argentine president Nestor Kirchner and Foreign Affairs minister Rafael Bielsa during last week's high level plenary meetings of the United Nations General Assembly, the office of British permanent representative Sir Emyr Jones Parry KCMG in exercise of the right of reply circulated as document of the General Assembly the following:
Statement of the delegation of the United Kingdom of Great Britain and Northern Ireland in exercise of the right of reply to the remarks made by the President of the Argentine Republic in the High-Level Plenary Meeting of the General Assembly on 14 September 2005.
The British Government attaches great importance to the principle of self-determination as set out in Article 1.2 of the UN Charter and Article 1 of the International Covenant on Civil and Political Rights. That principle underlies our position on the Falkland Islands.
The elected representatives of the Falkland Islands once again expressed their own views clearly when they visited the United Nations for this years debate in the UN Committee of 24. They asked the Committee to recognise that they, like any other people, were entitled to exercise the right of self-determination. They reiterated that the people of the Falkland Islands did not wish for any change in the status of the Islands.
There can be no negotiations on the sovereignty of the Falkland Islands unless and until such time as the Islanders so wish.
The United Kingdom has no doubts about its sovereignty over the Falkland Islands.

Similarly with the oral reply to Mr. Bielsa:

I am taking the floor in Right of Reply to the remarks just made by His Excellency Rafael Bielsa, Minister of Foreign Relations, International Trade and Worship of the Argentine Republic on the sovereignty of the Falkland Islands.
The UK's position on this issue is well known, and was last set out in detail by the UK's Permanent Representative to the United Nations, Sir Emyr Jones Parry, in a written right of reply to the statement by His Excellency President Nestor Carlos Kirchner of the Republic of Argentina in the High-Level Plenary session of the General Assembly on 14 September 2005.
The United Kingdom has no doubts about its sovereignty over the Falkland Islands.
There can be no negotiations on the sovereignty of the Falkland Islands unless and until such time as the Islanders so wish.

Cheers Marky
When is the new Warship ready another 2 - 3 years
previous thread seems a long time ago now
and not taken up with merit.
Seems to me party politics have taken over.
If Nestor wants to carry on where his predicesor
left he had better have a glass bottom boat to
inspect his fleet again.
Thanks for info on peak
but have to say, remote location,
what do they realy mean cant risk it without
back up.gov.
Every oil stock is going up except us.
The truth is, what we want and the board better
start delivering soon.
Even if it means we have to wait longer if
.gov is involved, it means the black stuff is there
in volume.
I wont mention the Middle East or why we are there.
Regards
HUSTLER

In the meantime, the Group has pressed ahead with its drilling preparations in
order to be ready to drill as soon as a rig becomes available and is also
considering other ways of securing a rig. In particular, the Group continues to
receive approaches from companies interested in participating in the North
Falkland Basin and, although another farm-in partner is not required to finance
the project, should a potential farminee have access to a rig it might be to the
Group's advantage to reach an agreement with them. As a consequence, the Group
continues to welcome such approaches.

On the plus side, the increase in the oil price means that the Group's drilling
prospects, should they result in discoveries, are likely to be twice as valuable
as indicated in the Prospectus for the Placing and Open Offer published on 14
February 2005, in which a maximum oil price of $30/barrel was assumed, even
taking into account increasing costs. It is particularly pleasing, therefore,
that, as already announced, the Group has identified additional prospects in
Tranches C and D and has acquired a 100% interest in Tranche F.