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

Apparently the CEO Ian Duncan is visiting the Falklands this week, check out today's company press release.
http://www.desireplc.co.uk/press_releases.php#

Hi all

Thanks for the input.

DES managed reasonable gains today, the trades were a bit odd though. There appeared to be more sells than buys, and a lot of unknown. It would appear the unknown were buys. DES is currently 21.48% from the breakout confirmation price. It is said the average decline is about 22% in a bear market. The support area of 0.2450p has managed to stay intact so far. Also it is said significant recovery can be exspected between days 14 - 21. Britishbulls.com have DES on a buy if at the moment. All being well the bulls will give support.




Good Luck All

Eddie

This will come right in the long term imo.

I hold GBP and and feel I asm in the same boat, so float!

Crap day all round generally.
Of the stocks i hold at present
8 are oil based,everything apart from Des went down.
Des not up much but as it has been such a shit
day to see a small rise gives me some hope somthing may be brewing
that we are not a party to and the mm's are, if nothing else this
could be seen as a signal the bottom has been reached or at least close. very overweight on Des still at present but may be tempted to buy a few more
at this level next week, hope the gain today will continue.
HUSTLER

New face for Pride board

By Upstream staff


Houston-based drilling contractor Pride International has appointed Francis Kalman as its new director.

Kalman has been McDermott Internationals chief financial officer since February 2002 and has held other senior executive positions over the past decade.

Taken from Westmount Energy results today


Desire Petroleum plc

Since June 1996, the company has invested a total of #909,915 in the issued
share capital of Desire for which it has acquired a total of 7,820,830 ordinary
shares. Desire's shares were admitted to AIM on 17 April 1998 and from June 1998
the company has realised #996,442 from the sale of 2,329,830 ordinary shares.
This has resulted in the return of all the funds invested along with a surplus
cash flow of #86,527. The company has generated profits from the proceeds of
shares sold of #328,781, #50,211, #176,047, #24,365 and #204,140 respectively,
in the five financial years ended 30 June 1998, 1999, 2000, 2002 and 2005,
totalling #783,544. The company retains 5,500,000 ordinary shares representing
2.51% of the issued share capital of Desire at 30 June 2005, with a carrying
book value of #697,017 equivalent to approximately 12.67p for each Desire share
held. The middle market closing price on 30 June 2005 of a Desire share was
40.25p. This shareholding provides the company with a significant indirect
investment in the exploration of the North Falkland Basin, South Atlantic.

Of the six wells drilled offshore in the North Falkland Basin in 1998, five
recorded oil, or oil and gas, shows. The first phase of drilling has
demonstrated that this basin contains a working hydrocarbon system.

Desire holds a 100% interest in licences over tranches C, D, F, I and L in the
North Falkland Basin. Rockhopper Exploration will earn up to a 15% interest in
tranches C and D by funding 30% of a three well drilling programme.

In 2004 Desire acquired 804 square kilometres of 3D seismic data on tranches C
and D. Five major prospects have been identified in addition to two major
prospects mapped on the earlier 2D seismic data. Environmentally, the water is
not deep, 300-400 metres, and the weather is similar to the central North Sea.
Heavy-duty deep-water rigs are not required to drill in the area. In addition,
most of the targets are at reasonable depths, shallower than 3,000 metres.

Desire raised #24.4 million by way of an open offer and share placing at 45p per
share in March 2005 to support a three well drilling programme on tranches C and
D. The current worldwide rig market is very tight as a response to current high
oil prices and Desire have not as yet been able to contract a suitable rig for
the three well programme. However, it is understood, essential work for the
programme is progressing well in preparation for drilling in 2006.

Signed - A floater from Huston, the rig will be taken out of cold and be on a six month contract. You can bet it's not going here folks.

That RNS? now more like 60/40, time is not on your side sorry. If you don't get it byTuesday you may need your hard hat if you still hold these.

Hi all

Looking at the trades it appeared there were more buys than sells today. Unfortunatly the chart suggests different. Todays candle has bearish implications, DES gave back most of yesterdays gains. DES is still trading very close to the 0.2450p support area, which is also close to the suggested 22% decline (from the breakout price) for this chart pattern. DES has currently declined 23.7% since the breakout price. The buy if on Britishbulls.com has changed to wait.





Good Luck All

Eddie

hahahaha....driftwood, you are indeed very funny. I suspect you talk to flowers and read tea leafs too! What on earth are you on about now? The imaginary RNS didn't happen on Friday did it?...maybe next week or the week after. Failing that I would say sometime the next month or else before the end of the year. And when it arrives the sp will either go up or down depending on the content. Of course if it doesn't arrive in 2005 the RNS will definately turn up in 2006. Mark my words and remember what I have just said (lol). I will be proved right and you will all sit up and take notice of me.
There driftwood....you don't need to bother posting anymore, because I have doen it all for you. Thanks for absolutely nothing.
Isn't it true that the hands of a broken clock tell the right time twice a day....

Well done Lynnzall
The bloke is like a laxative - just gives you the shits.
However there will be news in time, no news we go lower
then vultures will prey and take over and news will come, or
rig secured and news will come, the board is obviously
aware so throw the dice. Who knows what it will land on.
Appriciate your imput along with others.
We are stuck between a rock and a hard place at present
with most supporters doing thier brains.
Fortune favours the brave they say just hope it's true
in our case.
Hustler

"guess it's an RNS on Friday"

Guess you don't know what "guess" means and sorry you guys I thought you knew a bit more then you clearly do. It would be nice to make direct statements but the law you know. I'm here to play (as I have told you). It's up to you to think around the words if you wish to.

A tip, don't think about what you might wish for or moving this project two years forward, think about what might be going on right now and who might be talking. Changes are afoot and it will impact the SP in Oct, at the moment 60/40 for the best but the deal is not signed.

A tip, ypu are full of b*shit... More profound statements! Changes are afoot eh...yawn. The law of what, bye the way?
Lets have some facts and if u want to say something but are scared of 'the law' Tell them you heard the information from me.
Say something meaningful, before you lose any credibility.
Thanks1

You seem to think I want something from you, I don't.

I'll have my fun and you think what you like laddie.

One point, b*shit ? check what I've told you, have I been wrong ? perhaps you are just too stupid to work it out kipper.

D1

Do you hold des shares or intend to in the near future?

Given the non events of the last year, I for one, can easily see why changes could very well be afoot. Not only in stragedy but also in leadership.

I would welcome a less cryptic message next time should you decide to post again on this matter.

kind regards

marrow

KO,

Stop winding people up there is no need for it.

http://www.falkland-malvinas.com/Detalle.asp?NUM=6606


Desires progress continues



DESIRE Petroleum plc continues to progress towards exploratory drilling in the Falklands.



Chief Executive Ian Duncan was in the Islands earlier this month along with a representative of consultants RPS Group plc, to work on an Environmental Impact Assessment (EIA).
Mr Duncan said Desires EIA will be an update on that carried out in 1998 and preparation work involved meetings with the governments Minerals, Fisheries, Public Works and Environmental Planning departments, along with Falklands Conservation and government officials.

He said RPS will now work on EIA with a view to submitting it at the end of November. It will publish in the Gazette then a forty-two day consultation period will begin. This will involve a public meeting, which Mr Duncan will attend, which is expected to take place in February.

According to Mr Duncan, Desire is very conscious of the importance of the Falkland Islands environment, ...and we must do everything properly. The EIA, he said, is part of that proper approach.

He added, A lot of time has passed since 1998, we need to address any issues that people may have today. We want to involve people in the process, we want to be open and transparent - were aware of our responsibilities.

Originally, Desires exploratory drilling, planned to take place in the summer, has been delayed due to the unavailability of a rig. Mr Duncan said, Were still looking for a rig; Peak Well Management (contracted by Desire) is involved with drilling around 30 wells worldwide and is talking to all the major owners. So we will get one, hopefully sooner, rather than later.

He said the drilling, which will take place in the same area as the 1998 exploration, will take a shorter time than it did then.

We are looking at around 100 days, adding, ...theres good base line information, its a very routine operation.
Were very well up on the learning curve. (PN)

"You seem to think I want something from you, I don't.

I'll have my fun and you think what you like laddie.

One point, b*shit ? check what I've told you, have I been wrong ? perhaps you are just too stupid to work it out kipper."

Listen here pup, you have not been wrong because you have never stated any clear facts, just usual cryptic messages that mean nothing. You are a dreamer and amuze yourself with silly games. Yes, I can think what I like and I know what I know.... I have been in the city over 20 years and suspect I could teach you just a thing or two laddy. You clearly don't impress anyone on this bb and although that does not mean that you have no right to comment in open forum, you ought to grow up a little.

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=404365&in_page_id=23

Framlington's star manager
David Burrows, This is Money
17 October 2005
THIS week, in our regular Fundwatch column, David Burrows talks to the man behind the top-performing Framlington Monthly Income fund.

GEORGE Luckraft's Framlington Monthly Income fund has a record for consistent top performance that other fund managers must envy. The fund currently has a top-five ranking over one and three years showing returns of just under 70% over three years.

Luckraft explains some of the key themes that have helped him to outperform most of his peers.

He identifies oil as a major play. 'The oil price is likely to stay above $50 a barrel for the foreseeable future with a danger that it could spike considerably higher if we get either unrest in some of the oil exporting nations, or we see new violence in Iraq,' he says. 'There's plenty of oil in Iran and Iraq but with their regimes not particularly stable, it will be difficult to get the investment that's required there. Also, the quality of crude in Iraq is declining due to a lack of proper operations within the fields, which is just worsening the current shortages.'


Oil companies within Luckraft's portfolio include Royal Dutch Shell and BP.


One area that he is not keen on is High Street retailers as he has real concerns over consumer debt in the UK. 'The levels of growth we have seen in personal debt are unsustainable and, as such, the UK economy is going through a tougher time. Generally, I'm not favouring consumer-related stocks because of this current environment.'

He feels there has been a definite slow down already in retail spending with oil prices acting as an added tax on the consumer's pocket. Luckraft is also concerned that the current oil situation will have a knock on effect on inflation levels.


He believes corporate activity in particular merger and acquisition will pick up providing good buying opportunities. He believes large European corporates will use the low interest rates to make acquisitions in the UK.

'It's going to be a stockpicker's market, and, providing we avoid the pitfalls, we'll reap some benefits from bid approaches. The pipeline for new issues looks very busy and, as always when there's a lot of corporate activity happening, there's the good, the bad and the ugly to sift through. We hope to identify the good ones and make some money for our investors.'


Luckraft picks out some of the 'good' names that have been added to the fund portfolio, one of which is in line to benefit from Chinese eating habits. 'Devro, the sausage skin manufacturers is an interesting story. We expect this stock to benefit from the predicted increase in sausage consumption expected in China. Then there is Renova Energy, which turns grain into ethanol. This is performing well, following recent US legislation passed to increase the amount of ethanol to be used for reducing the dependence on oil, but also because of greenhouse gas emissions.'


Cambrian Mining is another stock Luckraft is bullish on. 'The company has stakes in Asia Energy and Western Canadian, both of which have substantial coal deposits that they are in the process of bringing to market.'

One of the few familiar retailer names to figure in the fund is Topps Tiles. Luckraft concedes that the stock is experiencing tougher trading conditions, but points out that it is still experiencing gross margins of above 60%.


Luckraft also mentions three recent purchases he has made over recent weeks. 'Brit Insurance is a Lloyd's insurer that offers an attractive yield in an industry where the strong will grow stronger. Diageo is a drinks company that has seen its shares underperform and we thought a prospective yield of 4% provided an attractive entry point.


'And finally, we added Rockhopper Exploration to the fund. The company has oil exploration rights in the Falkland Islands. On one of their blocks, Shell found oil which was uneconomic when oil prices were well below $20 a barrel. At current levels, the economics could work well.'

Hi all

Thanks to all for the updates.

DES moved down a tad more today. The volume was up from Fridays.
Todays candle is the hammer, which is said to be hammering out the bottom. DES also touched the area I still see as support 0.2450p. The hammer was formed by the bears pushing DES down to the low, then the bulls pushed the price back up. This created the long lower shadow. The hammer has bullish implications, but must be confirmed tomorrow. If the support 0.2450p is going to hold, DES should move up tomorrow. For the chart pattern Adam & Eve we are also expecting a move up between days 14 - 21 after the target price was hit (0.2800p). Britishbulls.com has DES on a buy if.





Good Luck All

Eddie

Nice work eddie, thanks.
Assuming we have seen the base (wave 5 terminus) of the decline from 31.5p then we should see a recovery towards the 27~29p area. If however, the market turns lower from current levels (25.5p) then we should see initial weakness towards 22.5p before a bounce. A break below 22.5p would scew the current wave count, but we'll cross that bridge if we come to it.
Regards all
Lynnzal