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

I don't know if anyone else has asked DES this question, but here's my e-mail to them asking about the lack of RNS on the RKH option:


Hello,

I am shareholder in DES.

It is my understanding that RKH had an option to increase their contribution to the forthcoming drilling campaign from 15% to 30%, in return for an increased share in the results from 7.5% up to 15%. I believe this option expired on 31 October.

My assertion is that their decision either way is market sensitive for both companies, and I would have expected an RNS by now to explain their decision.

I also note the vague speculation in the market place about bids for DES, or indeed that you might by now have secured a rig or drill ship and the welcome sharp rise in the share price as a result.

Can you please explain the lack of RNS about the RKH option, and set my expectation on when news will be forthcoming on both these topics.

Regards.


Anyone have any updates on last week's fun and games?

Kiwi, you got your answer this morning with an RNS to say that RKH are not increasing their holding beyond 7.5% which suggests there's no imminent farm-in deal with a third party. Looks like we have a bit of a wait now for either news of a rig or farm-in..

Hi all

It's a bummer when it goes wrong.

A disapointing day today. With the support & resistance so close, the news sent DES on a dive. Although DES fell dramaticaly in price, the buys were not that far off matching the sells. This indicates the bulls are still interesded but want to buy at the lower price. Once the market gets over todays announcement, selling should slow down. We will have to see what the revised drilling program consists of. In todays drilling update, the suggestion is DES can still fund the drilling programe, even at the higher rig rates. I think I've undrstood this correctly. We are now looking at support at 0.2625p with the resistance still at 0.3200p. DES is currently bellow the 10 & 20 day moving averages. Re testing the support of 0.2400p cannot be ruled out either. I'm sure it'll all come good with the rig.






Good Luck All

Eddie

Where are you Marky - no posts since the RKH news, you seemed confident they would take up the option.

Hi all

I'll not post a chart as we have one above. DES made a small move up today, volume was low again. Todays candle has bullish implications, DES is on a buy if on Britishbulls.com. We will need confirmation on the buy if. DES is currently above the 20 day moving average but back bellow the 10 day moving average.
Although we had quite heavy selling last week, the short term trend line is still up off the 0.2425p. We will have to see what is in the revised drilling programe.


Good Luck All

Eddie

Oct 2005 News letter.
http://www.bgs.ac.uk/falklands-oil/download/download_files/news.pdf

Maybe we should tell Dr Duncan that the Regal 'King Alexander' rig is up for sale at a bargin price, since they have the money to purchase and operate themselves?

how much have des got for a rig because OILexco have just coffed up 82million $ for one year!

Capt,

Have you noticed that all the pictures were taken outsdie the same building. Oh, to have been a fly on the wall in the hotel restaurant in that week!

Hi all

DES gave back the small gain it made yesterday. The volume was low again today, the market seems uncertian which way to move at the moment. The support and resistance are very close together again (see chart), todays move suggests the market tested the support today, which did hold up (although the volume was very low). DES moved back under the 20 day moving average again today. Britishbulls.com still have DES on a buy if.






Good Luck All

Eddie

Hi all

I'll use the chart above.

The buy if was not confirmed, DES has now given back nearly all the gains from last weeks rally. The support and resistances have moved again (see chart). The bears were out in force, todays candle has bearish implications. The oil and gas sector moved down today, which certianly didn't help. The chart shows support at 0.2350p, however I think it is at 0.2425p. The bulls did show a bit of interset at the lower end of todays trading, this is represented by the shadow at the bottom of the candle.


Good Luck All

Eddie

Cheers Edd
Doing your best as always.
Thread has gone a bit quiet.
Not enough black arm bands to go round
we have all been f.....d doing our brains short term,
but have we the nerve or no option to hang in.
Hope not to many people have the mortgage on this one
going to be a bumpy ride, management doing nothing to
reasure us. However i still believe long term this will come good
not so sure it will be called Des though
just hope i live long enough to see it

hustler

Support from me Ed, as well.

Been a bit morose of late and a bit quiet....can't think why....then I snapped out of it and tried to buy a chunk of DES at 26p and....guess what... I missed it.

Incidentally, gone on a November diet, so there is room to add a bit of weight back over Xmas....diet includes no wine or alcohol....Blinking heck, life can be very boring when there's nought to drink.

I still keep the faith.

Hi all

Thanks Hustler & Fatoldgit.

Nice to see DES move back up today, DES regained the losses of yesterday.
todays candle has bullish implications, DES is back on a buy if on Britishbulls.com. The oil & gas sector moved down today, DES was the fourth highest mover by % in the oil & gas sector today. The buy if will need confirmation.





Good Luck All

Eddie

Cheers Edd & soon Slimoldgit
Looks like we will all be losing a few pounds come xmas the way this one is going.
Just canceled the Bently but put an order in
on a 3'' version in a box, dinky somthing i think
it's called from memory, but i will keep the box this time, thought i was smarter now
older but obviously not must be John Lowes brother Dinlow.

hustler

Hi all

Not much volume today again, DES gave back a small amount of yesterdays gains. The buy if was not confirmed, however it is still buy if for Monday. I will post a weekly chart which shows the support at the lower end (shadow on the bottom of the candle). The weekly candle is a hammer which has bullish implications. The buy if will need confirmation. Hustler it looks like we will all have to stick with the dinky versions for a while.




Good Luck All

Eddie

Hi Edd
Whats your view of the future in terms of timescale
we all support and surmise the outcome of Des
but now Rockhopper have turned down the full comitment
and they have had info we are not privalege to
in my mind it does not look good.
Where is The Master who quoted recently Dolfhin rig secured for April 06, correct or crap, it is all very thin
in my view. What we need is the management to come clean.
Regards
hustler

Hi all,

Am back online after been hit by lightning and certain things getting blown up,hope all are well and hope the hangover was not to bad Hustler today?

Keep up the hard work Eddie and stuck a counter on the top just out of interest.

Welcome back Marky.
Hope you are fully rebuilt and ready to roll again,
your imput and research is very much appreciated,
As you are aware not to much positive news has broken
recently which is driving us to frustration i tend to react
in anger as been burnt badly before by management who
don't deliver, i do however realise somtimes it takes time for
it all to come together i just hope this the case with Des.
I wasn't at the front of the queue when patience was
handed out but i am still in support,however some positive news
would be most welcome and overdue.
All the best
HUSTLER

Cheers Hustler,

Been a bit daunting with so much money involved and not knowing whats going on and relying on the old telly text for the share price or the ringing up of some friends but still as confident when I rigs becomes available the share price will correct its self.

A lot of catching up to do with homework and contacts but that oil isnt going anywhere and time I have and time will tell.

Cabin boy I hope all went as well as could ,will catch up with you soon and clogs off tonight and more time in that crow nest from now on and EK will resume

Marky