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

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

D1

Is there anything more you can add further to your earlier comments?

kind regards

m

Hi all

There appeared to be more buys than sells today, I feel DES was cheated out of a move up. Todays candle has bearish implications, however the support I see as 0.2450p is still intact. Todays close is just above the support, which means we will have to wait till tomorrow to see if it holds up. Just a little to close for comfort, we may yet see the lower support Lynnzal has mentioned 0.2250p.
The hammer is still support untill DES closes under 0.2450p.




Good Luck All

Eddie

Hi all.

Nearly halved in the last two months.
With nothing to give support so where are we realy going
sub 20p why not. 16p cash support and still nobody wants
to buy us out ??. I am now seriously concerned about the 3D survey,
has anyone a clue what level to average down if any, my stoploss was 50p
but hung in as most supporters believing drilling was around the corner,
greed took over. Begining to sound like a small drug company all over again,
promise the earth take your money and deliver nothing.
just look at the chart
we are being slaughtered.
So where is the management,
25 mill in the bank fat wages and on the piss
who is looking after who here
HUSTLER

Hustler
A stop is a stop. Nevermind you know what to do next time. I dont hold any des but my friends do.I am thinking of going long at 20p but if keep falling then will not touch.My stop will not be more than 3p.

Hustler

You are right to be angry. The management have failed their shareholders and yet again dissappointed the market. With luck there will be something to Driftwoods posts about a farmin partner and the current board will be replaced.

kind regards

marrow

While I agree with what you have said Marrow, as a trader I think it is more important to consider the timing of such events (farmins). Certainly as the SP falls away there may be increasing pressure on the current board, but when holding shares in this company, how long and how far can people be expected to tollerate increasing losses? There have been numerous mentions of farmins over several months on other BB's but none of any real substance. Until someone has facts rather then speculation I would tend to discount it.

Hustler, my advice is for you to re-establish a game plan and then stick to it regardless of your emotions. i.e. dont let your heart rule your head.
Pick a stop for your holding (or at least part of it) and then pick a level where you would re-establish what you have taken out. Remember to pick one level that is lower than where you have stopped and one that is higher than where you have stopped incase the market decides to turn when you weren't expecting it.

Morning all,

When in business it does not matter how hard you plan things out and try to plan for the future s*it happens and things change and you must pick yourselves up and adapt to them changes and re-plan again and I believe the board are doing this to the best of there ability and still very pleased that we have Peak Group doing this on behalf of Desire.

This time last year we were awaiting the results of the 3D seismic and did not have any money and the share price was about the same level as it is now so what has changed?

We have 25 million in the bank ready to fund a 3 well dual target drilling program

We have a partner who is fully committed with funds in place at the moment.

The 3D seismic came up trumps and was of excellent quality and the BGS are over the moon with its findings and we have a total of 16 prospects identified so far of which all of them are large.

Oil price $60 a barrel

Acquired a 100% interest in Tranche F

We await Peak Group to find a suitable rig to re start drilling and preparation for all other logistics to be put in place, and that is the only problem we have apart from the SP is at the same level as it was a year ago, I for one am sitting on large losses(KO Smiles there) but that will change when a suitable rig is found and drilling re-starts until that time am happy to sit back and top up when ever I can and take advantage of the low share price and benefit from the longer this takes the less capital gains tax I will pay when I come to sell my shares when drilling commences.

Its not a question any more if we will drill any more but when and how much oil we find when we do.

Marky/Lynnzal

I fully agree with your posts but would wish to add that we (as shareholders) should have been better informed. I am still of the opinion that with different management we would have been drilling this year.
I think our problem is that CP has too much control and not enough skill to broker the bigger deal.
I truely believe that we will have our day but not sure there is a timetable in place.

kind regards

marrow

D1

Given that Tuesday has past and gone (for a week) would I be right in thinking there is now to be no deal done?

kind regards

marrow

The share price should of gone up again today looking at the trades.more buys than sells and the price goes down the same as yesterday.

Hi all

Yes Markymar it does appear that way, even if you add the unknown to the sells. Unfortunatly DES closed under the support 0.2450p today, this means it is no longer valid. The next support area as Lynnzal has said is 0.2250p. We are also running out of days (14 - 21), is suggested there should be a significant recovery. The change is from when DES meets the target price. The calculation use to arrive at (0.2800p) target, is 69% acurate. Knowing our luck it will be on the 31% side. Todays candle has bearish implications, all the more reason to be visiting 0.2250p. The oil & gas sector went down today, only 6 moved up. Britishbulls.com has DES on a wait.





Good Luck All

Eddie

Marrow, D1 frequetly makes comments without real substance. If u had read my sarcastic response you would perhaps have gathered that. Anyway, like I said before, lots of speculation regarding farmins and rig announcements over the past few months and if you keep acting like you know something, you will eventually be right (as long as you remains vague enough about what you alledgedly know). In other words take his remarks with a pinch of salt.
Markymar manages to come up with all sorts of intersting snippets of info, so watch out for those and make your own mind up and Eddie give great tech analysis of the candlestick chart.
Regards
Lynnzal

Further to my #1904, the market extended slightly lower to a minimal wave five projection at 24.25p (think it traded 23.5p at some point). The subsequent bounce has been sharp and may have already met an ideal recovery objective at 28p as my calculations suggest somewhere between 27p and 28.75p for a pullback.
Gains through the former base at 28.5p would suggest that the longer-term decline from 69.75p is indeed corrective, although firm confirmation can only be considered above the 45.25p lower high.
Risk still remains to the downside and there are various supports clustering around 20p that act as a draw. Note, the confluence of several supports can often be a good sign in terms of the strength of support or resistance in a particular area.
Regards
Lynnzal
21/10/05 NOTE - having reviewed my data this morning I notice that Thursday's high has been editied to 26.5 by my data vendor. Therefore, we still have scope for further recovery towards 27~28.75p.

Hi all

Thanks to all for the input.

Nice to see a move up at last. Todays candle has bullish implications, if DES continues up tomorrow, we will have whats known as a spring. This will show on the weekly chart as a small puncture of the support (0.2450p). This is regarded as a bullish move. The Britishbulls.com have the 3 day pattern as a morning star which is also regarded as a bullish signal ( this is not the classic morning star however). The Britishbulls.com has DES on a buy if again, we will need confirmation of this tomorrow. All being well we should see a continuation up tomorrow. DES was 7th highest mover by % in the oil & gas sector (UB07) today.





Good Luck All

Eddie

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It's good idea, you like? Ah ah ah!

Oh,FFS!

Didn't realise they let Sutcliffe have acsess to
such modern music even though it is years old , shame
never mind must be hard passing time in that padded cell
must drive you mad.
Perhaps they will let him out on day release, with a bit of luck
and then we all could Hammer it out with him.
What a pleasure i would love the chance to vent my anger
at present.
HUSTLER

D1

us or US

marrow

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