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 it Friday soon always a good day 9 times out of time 10

Lucky i think your right someone is buying on the cheap

Hi markymar

Yes I think it's fatoldgit.

Here are the figures I have. Total trades 150. (buys 20) (sell 97) (unknown 33) = 150. (buy volume 147,000. 42,000) (sell volume 1.51million. 428,000) (unknown volume 1.09million. 313,000) a lot of unknown.

Then look at the open, high, low, close.

Open 0.3075p, High 0.3075p, Low 0.2750p, Close 0.2925p.

Take the close from the open 0.3075 - 0.2925 = 0.015p. Todays change.

Then take the low from the close 0.2925 - 0.2750 = 0.0175p. The difference between the low and the close, seem to sugest the unknown were buys. This is why the shadow is so long. It is also the reason why I'm saying the bulls seem to be buying at the lower end. (unknown value 313,000 volume 1.09million).

Kind Regards

Eddie

Hi Eddie & all.
Above is the chart that goes with my previous comment (#1808).
As I mentioned, the break down through 28.5p labelled 'A' meant that the prior recovery off that low could not be impulsive. Therefore, the terminus of '2' has yet to be seen. Near-term I think we have scope for recovery towards the 34p area as we complete the (b) leg off the 27.25p low. This should then see further downside to sub 20p under current calculations (although there is further possible downside risk). That final move would conclude the correction off the 69.75p high and be the beginnings of a major third wave advance that will carry us through 69.75p. Please note that the lines that I have appended are not indicative of the timescale that will be involved.
Regards Lynnzal

Hi all

Thanks for the chart Lynnzal.

DES managed to move up today, this therfore means the hammer is still intact. The volume was a bit lower today and also a bit odd. Todays candle has bullish implications, but cofirmation of the markets intentions is needed. So were looking at support at about 0.2850p, resistance about 0.3400p at the moment. Britishbulls.com have DES on a buy if today.





Good Luck All

Eddie

lynzal , if the A wave is as you suggest surely it should be a 5 , and not abc. I know the numbering can be a problem , perhaps you could amplify

liked the figure of 90% accuracy , pity Prechter and his boys could not manage that during 2003 , 2004 and early 2005 , they cost me with their predictions of the end of the world as we know it.

Cheers for the input Eddie and Lynzal looks intresting!

http://www.upstreamonline.com/hardcopy/news/article99404.ece

Desire puts drill plans on hold
BRITISH minnow Desire Petroleum has been forced to shelve plans to drill exploration wells off the Falkland Islands because it cannot get a rig, writes Iain Esau.
When the company surveyed rig availability at the end of last year, seven of the 10 companies contacted said they had a suitable drilling unit available.

However, after talks with rig owners, it emerged there was only one suitable rig available, but Desire said it was "unable to agree an acceptable contract".

The company and its drilling advisor Peak Well Management hope that rig availability improves in 2006, although Desire said it may consider farming out part of its acreage if the interested party has access to a rig.

Can I ask who operates the tranche to the west of Desire tranche C (Ann) please?

There is also a tranche F to the south called "Desire non operated".Does that mean they have the licence but don't plan to drill there?

Thanks

Coeliac1, Argos Evergreen are the operator of tranche A, although this is to the west of Rockhopper's acreage and not Desire's, (see link) :-
http://www.desireplc.co.uk/pdfs/figure-a.pdf

From what I recall, they are due to perform a certain amount of seismic, (3-d ?), in that tranche over the next year. I'm sure Capt Guns will have more knowledge of this as he is the resident expert in this area.

Post 1802 - what makes you think Chevron are interested, Rob ?

From the interims

"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."


Upstream artical

"The company and its drilling advisor Peak Well Management hope that rig availability improves in 2006, although Desire said it may consider farming out part of its acreage if the interested party has access to a rig."

Evening all,

What was interesting about the article was that Desire were interested in farming out part of there acreage in return we get a rig, does that mean Desire and Rockhopper know which targets they are going to drill as quoted by them will be all dual targets and the big if is do we let one of the bigger boys come in to drill the likes of e.g. Phyllis or some other target and they get lets say 80% what is found and Desire get a free carry and 20% of which is found in that target.

Just a thought nothing more so dont read anything into it, but does make you wonder why there are a lot of suits in the Falklands at the moment.

Hi maddoctor, thanks for the input. Actually, in corrective patterns, its only the C leg that should be broken down into 5 waves, but I haven't shown that to avoid confusion. Generally corrective waves are either zig-zags (5-3-5) or flats (3-3-5). Therefore I am calling this an 'irregular flat' correction. Of course it may be a double-three. I.e. a-b-c-x-a-b-c, but to mention that would start making this thread way to complex for most readers.
By the way, I think prechter is calling for meltdown in 2012 now, so u still have time to make a few quid. Personally I don't worry what they think. Just DYOR!

lynnzal , thanks for reply , always interested in interpretation.
Prechter's book "View from the top of the Grand Supercycle" had me convinced and caused me to have a short view for far too long. Taught me however to never believe in guru,s :-(((

p.s. many lurkers out there and a full explanation will always interest some punters

Hi all

DES move up a little today, the candle has bullish implications. A buy confirmation was also given on Britishbulls.com. DES has resistance at 0.3400p area, so we may see some more consolidation before moving through this area. The volume has increased recently, so lets hope the bulls stay interested.




Good Luck All

Eddie

Hi all

DES gave back the gains from yesterday. Todays candle has bearish implications. The buy confimation has now changed to sell if (Britishbulls.com). The trading volume was very low today, with very few buys. The oil & gas sector UB07 moved down today, which may be the reason DES failed to move up after the buy confirmation. The market should decide tomorrow if the buy confirmation still stands. There are suggestions the market may have over done the sell offs, and the oil sector should bounce back.





Good Luck All

Eddie

Cheers Eddie

Thanks Eddie for your continuing analysis ! V.much appreciated . I always look forward to your charts and comments.
Hope all regulars are well . Des will come good , prob when we least expecting it !!
Regards
Berlingo

Hope you dont mind Oily

Oily1 - 5 Oct'05 - 22:30 - 23694 of 23705


Meanwhile back at the ranch......

Have been chewin' the fat following the very disappointing news.
Phipps is definately going to have to look further afield than Brazil if he's going to get a rig, ie., Equatorial Guinea, Angola, Nigeria; basically any western African country or any South American country such as Mexico, Venezuela, Caribbean and Gulf Of Mexico area. North Sea, Australasian base rigs etc are a no-go, imho, due to the mobilisation cost.
MAJOR drilling contractors have following 2nd/3rd generation semis available 2Q/06.

Global Santa Fe :-
GSF 135, available March 2006. Capable of drilling in 2,400 feet of water. Day rate unknown. Presently drilling in Equatorial Guinea.
http://www.globalsantafe.com/fleet/frames/locfr.html

Pride :-
Pride South Atlantic, available June 2006.
Enough said about this particular one, I think we'll all agree.
http://media.corporate-ir.net/media_files/irol/72/72166/Contract_Status_Report_100405_FINAL.pdf

Transocean :-
Sedco 700, available January 2006. Capable of drilling in 3,600 feet of water.
Presently drilling in Equatorial Guinea.
http://media.corporate-ir.net/media_files/irol/11/113031/reports/093005.pdf

Dolphin :-
Bulford Dolphin available end of 2Q/06. Problem here is she can only drill in 1,250 feet of water - not quite good enough for the northern parts of tranches C & D, but modification wouldn't be overly expensive. Rig is presently under contract to Equator via Peak Well Management, drilling offshore Nigeria.
Rig doesn't feature on Dolphin's website (?!):-
http://www.dolphin.net.uk/index.asp?tid=8011&title=Contract+Overview&topimg=

Diamond :-
Ocean New Era is available June 2006. Presently drilling GOM. Capable of drilling in 1,500 feet of water.
Ocean Voyager is available May 2006. Presently drilling GOM. Capable of drilling in 2,000 feet of water.
Ocean Whittington. Available October 2006. Presently drilling Mexico. Capable of drilling in 1,500 feet of water.
http://www.diamondoffshore.com/excel/October%204,%202005.xls

Rowan :-
Predominantly a drilling contractor who specialises in jack-up rigs. Nothing for Desire here, imho.
http://www.rowancompanies.com/pdf-files/offshore.pdf

Noble :-
The only semi-subs they have are ultra-deep water rigs - too expensive for our Mr. Phipps, imho.
http://www.noblecorp.com/rig/foverviewfrX.html


DYOR, IMHO, etc.

Hi Marky
Great research you should be a Director, as i
believe more you say than the board.
I only wish the directors would come forward
with somthing constructive. i for one am becoming
more than concerned i feel we are being sold down the
river, issue at 45p - 20% discount at the time,looks cheap now dosen't
it 28p. We all believe the potential is there but
the board are hiding a lot of things from the shareholders.
In the meantine we are all doing our dough big style.
In to deep to get out without getting slaughtered,
and the truth is we could sink to below 20p
what is there to support the sp only hype
at present.
vultures will be preying on us shortly if not already,
perhaps that is what the board want
after all they will benifit most.
Keep up the good work Marky,
hang in and prey what else is there.
Regards
HUSTLER

A little birdie told me that Ian Duncan is still in the Falklands after 1 week and looks like his stay is for 2 weeks there and I would not be surprised to see some sort of PR from the Falklands about Desire Petroleum in the coming days.