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

Hi all

Thanks for the updates.

The volume was very low again today, there appeared to be more sells than buys today. The candle that formed was a doji, this indicates the market is indecisive as to go up or down. Britishbulls.com have DES on a sell if again, this will need confirmation. DES is currently above the 10 day moving average and just bellow the 20. The market may decide tomorrow which way DES is to go.






Good Luck All

Eddie

http://www.theherald.co.uk/business/51564.html#

Investors set sights on fledgling oil companies

Rockhopper Exploration gets a mention.

CNPC to pay out $1 billion to build 100 units over three years
China in race for rigs
China National Petroleum Corporation (CNPC) has committed up to $1 billion to build 100 onshore drilling rigs in China over the next three years.
The rigs are to be in the 1500 to 2000 horsepower range and built for drilling deep targets between 7000 and 9000 metres.

About half the units are set for domestic use, while the remainder will be sent overseas, said sources.

The state-owned giant has a fleet of more than 600 land rigs, with more than 100 of those units working internationally for Great Wall Drilling Company, CNPC's overseas drilling subsidiary.

China-based sources suggested most of the new units would be additions to CNPC's armada, while a marginal number would replace older rigs.

All the onshore building work will be split between about four yards all partly owned by CNPC that are well versed in "big rig" (units of at least 1000-HP) fabrication.

The yards are Baoji Oilfield Machinery, Zhong Hua, Lanzhou-National Oilwell and one other, said sources.

CNPC officials confirmed the newbuild programme and said the company was short of rigs, especially for drilling gas prospects in north-west China's Ordos basin.

Strong rig demand would also come from CNPC's overseas operations, especially those in Kazakhstan and Sudan.

The company predicted its overseas rig demands would increase by 40% per annum in the coming years.

The officials declined to comment on the cost of the newbuild drive, but said CNPC needed at least 70 more rigs for both domestic and overseas drilling before the end of 2010.

Sources said CNPC had been building land rigs regularly in the past five years to help sustain its immense commitments overseas, where it has exploration and production operations in about 30 countries.

The current newbuild splurge was a continuation of that trend, which is driven by China's huge oil and gas demands rather than any sudden desire by CNPC to cash in on high oil prices.

"Even if the oil price fell back to $30 per barrel, CNPC would still go to places (to explore for oil and gas) that other countries can't go to," said a China source. "They are driven by energy demand."

Sources said China was highly adept at building land rigs for up to 5000 metre drilling depths, but was not experienced in the larger units. It is understood CNPC has just one existing rig for 9000-metre targets.

Certain equipment such as instrumentation and top drives were perhaps the only high-tech items that China does not make to overseas standards.

However, CNPC has stepped up the research and development of components required for domestically-made 9000-metre rigs. It announced recently that a top drive tool, designed for 9000-metre rigs, had passed an examination on 7 September and would "play an active role in the oil and gas exploration of deep reservoirs".

Meanwhile, a host of overseas drilling companies, including several North American players, are either building rigs and equipment or evaluating Chinese yards prior to placing construction orders, said sources.

The booming worldwide drilling market environment is leading to a shortfall in the number of available rigs.

Drilling sources said the global demand was placing a premium on newer, more efficient rigs that can be delivered both quickly and in quantity in many venues.

One well-known North American driller, understood to be Precision or Nabors, has ordered more than 20 rigs to be delivered over the coming years, said sources.

Looks like this is a dead horse- seen the chart lately?

Hi all

The volume was very low today, the buys appeared to be very few. The unknown must have been mainly buys. Todyays candle is a four price doji, this indecates confusion in the market. The Britishbulls.com now have DES on a hold tag, the sell if wasn't confirmed. DES is still above the 10 day moving average and jus bellow the 20.





Good Luck All

Eddie

Cheers Eddie,

Like the old days with no trades so far today!

Crude nosedives to hit 6-month low

By Upstream staff


Crude oil prices continued their downhill spiral, with the front-month contract settling at the lowest price per barrel in almost six months.

January crude lost 86 cents to close at $56.50 a barrel on the Nymex, after trading as high as $57.75 earlier in the session.

The contract's price has shed 6.3% since the end of October and 19% since the end of September.

Meanwhile, Nymex natural gas for January delivery inched to a high of $12.15 per million British thermal units, before trimming gains to close at $11.736, up 10.2 cents.

The Energy Department is slated to issue its latest update on petroleum supplies Wednesday, with most analysts expecting a decline in the nation's crude inventories for the week ended 25 November.

IFR Markets predicted crude supplies likely fell between 1 and 3 million barrels, while Wachovia estimated a 2.5 million drop.

In contrast, Fimat USA expected a 1.9 million barrel increase.

On Thursday, the Energy Department will release its data on natural gas supplies in storage.

Platts analysts are predicting a 48 billion cubic foot fall in inventories last week, while IFR's forecast pegs the estimated decline at between 35 and 45 billion cubic feet.

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Hi all

Thanks for the update markymar

Well it looks like the market decided to move DES down today. Very few buys, the volume was a bit higher today, but unfortunatly mainly sells. There were a coulpe of late trades which lifted DES from a low close. The oil & gas sector moved down also today. The Britishbulls.com still have DES on a hold tag. DES has currently moved bellow the 10 day moving average.





Good Luck All

Eddie

Cheers Edddie

http://media.corporate-ir.net/media_files/irol/72/72166/pdf/Contract_Status_Report_120105_FINAL.pdf

http://www.latinpetroleum.com/article_4943.shtml

Capt a little story for you,makes the mind tick!

Hi all

Thanks for the update markymar

The volume was slightly higher today and also prety even. The bears were most active in the early part of the morning, the bulls came in to take DES up from the low of the day. The candle which has formed is a bullish hammer. The hammer is a potential turning point, it is said the market is hammering out the bottom. Britishbulls.com have DES on a buy if tag. Lets hope the bulls continue tomorrow.





Good Luck All

Eddie

eddie , thought you were in trouble there this morning , good luck

Hi maddoctor

I think I've already past that point.

Regards

Eddie

Upsy Daisy news on the way.

Hi all

The volume was low again today, more buys than sells. The buy if signal was confirmed. DES closed on the days high, which is said to be a good indicator. The fact that the bulls are prepared to stay in over the weekend, is a good sign of commitment.





Good Luck All

Eddie

Hello Driftwood
So you are the man it would seem so what do you know
substance or bollocks, you like playing mind games,
Granted at present supporters have been tucked up but
we all have a common interest in stock generally, mainly to make
some doe, your inside information on this one would be most welcome.
regards
hustler

Driftwood

Surely even DES are running out of additional bad news!!

Are n't they????????

Kind regards

marrow

Hi all

DES closed on the days low, the volume was low again with very few buys. The buy if was confirmed on Friday but has now changed to a sell if tag on Britishbulls.com. Still blowing hot & cold.





Good Luck All

Eddie

Hi all

DES closed on the days low, the volume was low again with very few buys. The buy if was confirmed on Friday but has now changed to a sell if tag on Britishbulls.com. Still blowing hot & cold.





Good Luck All

Eddie

Computer went mad