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

www.bodecott.com

www.bodecott.com

Updated October 18th, 2004.
Telephone mobile/cellular (UK) 07 798 914 341



David Bodecott Consulting
Established 1981

An independent consultancy in International Oil & Gas Exploration and Evaluation, specialising in Petroleum Geology and Exploration Geophysics, especially seismic interpretation.

On July 31st, 2004 we celebrated 23 years successful consulting for clients world-wide and 30 years in the oil business.

Principal Partner: David Bodecott: 52 years young.




Recent Activities: October 18th 2004 Update.

In 2004, exploration is the buzzword again - drill wells and you find oil! At $40+ per barrel, buying production becomes prohibitive.

NORTH FALKLAND BASIN

We have been involved in all areas of North Falkland exploration with several clients for over eight years. Initial drilling results during 1998 were technically but not commercially successful.

The second phase of Falkland Exploration is gathering momentum despite pessimism from some original participants. We are closely involved with evaluations of all Falkland licence areas through the activities of two clients.

The Desire Petroleum interim 3D interpretation results confirm the high potential of their licence areas. With one of the worlds richest source rocks, relatively shallow water conditions, a benign environment, strong indications of good reservoir potential with DHI's (Direct Hydrocarbon Indicators), farm in partners have an attractive opportunity. Their recent 3D survey is only the second in the area, but the biggest to date. Economics are particularly attractive for their licences at present. We have details.

We watch carefully the activity south of the Falkland Islands that proceeds with FOGL, backed by RAB Capital. This is a frontier area, having scant seismic information, no wells, complex structure, deep water and a harsh climate. Any potential in this area might be ten or more years down the line from the North Falkland Graben - and with much bigger risks.


http://www.bodecott.com

COMMITTEE MEETINGS


Mineral Resources Committee: Monday, 01 November 2004 at 1030 in the Department of Mineral Resources

Found that mineral comimittee had there meeting on monday so maybe an update there soon on the web as they had a member who went to Houston as well


I also emailed DB from www.bodecott.com

Dear David,

I see you have an update on your web site on Desire Petroleum and I was wondering do you know how the trip went over in Houston and Canada with the potential Farm-in Partners and is Desire still looking at rig availability and do you think drilling will take place in late 2005.


His reply to email was

I know not the answers to your questions, but from my involvement, it is clear that the Chairman is very positive and he has commented that the 3D preliminaries look very interesting, so one would assume any potential farminees with brains will be carefully considering the obvious attractions of Desire's acreage, which compares well to many world-wide deals.

Everything however, takes time, particularly with the negative press created by Amerada, the Aberdeen fraternity etc. following the technically successful but commercially unsuccessful drilling campaign of 1998.

I think the Houston visit went very well.

Regards,

DB.

So we are no further with no news,but we know its coming soon and after been with this share from day one i am happy to wait and if you are daytrader a good share to make money on the ups and downs in the share price.

Regards Markymar

markymar,

Just slightly off topic...GRWA court hearing is postponed to Jan 12th 05.

GRWA are having a bad time at moment but a feel after tonight the parrot has spoken and should help there share price soon .http://www.thisisnorthscotland.co.uk/displayNode.jsp?nodeId=149235&command=displayContent&sourceNode=149218&contentPK=10996222&moduleName=InternalSearch

There is more?

Hi marky, I am here and it looks as though you've been busy in this thread for quite a while. I'm not sure about the parrot, maybe the tropical sun has got to it.
The Aberdeen 'Press & Journal' link doesn't really bring up anything new. This information about Ledingham and Chalmers solicitors having a man in the Falklands is not new. As the article hightlights he?she has been there a few years already. or maybe i'm missing something.

regards
Jon

let us know if you need a hand researching into something.

Cheers Jon, Have sent emails to certain party's but this office has been closed for years and has recently re opened so i have been told. There is a reason it has reopened and i will let you know the oil company behind it if any info comes about.

Early days but info comes from very good parrot with 32 years in oil buisness in supplying in Scotland.

The key for the door is in this Law company I just need the right key to open the door so if you come up with any info please post it here or through emailing me through site I was hoping oily might know something.

Regards Markymar

Its a lot quieter on this site hence no derampers or rampers or people having a go.http://www.ledinghamchalmers.com/firm/firm.htm

Good detective work, Marky. Let us know who is behind it all if you find out.

Cheers.

Got 2 emails back so far i think one got the wrong end of stick the other more postive but something does seem to be going on.Phyl Rendel is back in Falklands next wedenday for meetings,Oily you have contacts up in Aberdeen ask about ledinghamchalmers and the office in Stanley.If what have been told then this can not stay quiet so long but no way of backing this up..YET

The only time I've had anything to do with the law, Marky, is when I've been involved in any property transactions or getting locked up after a weekend on the lash !!!!

Norton Rose in Falklands first AIM float



Norton Rose has advised on what is believed to be the first Falkland Islands companys admission to AIM.
Corporate finance partner Simon Cox led the team advising Falkland Islands Oil and Gas Limited (FOGL) on the innovative admission.

The firm was asked to tender and the transaction took place during August and September. FOGLs shares were admitted to trading on 14 October and raised 12m.

Cox said because Falklands company law lags behind UK legislation, the team had to find a way to ensure the admission was compatible with both jurisdictions.

Norton Rose worked with the islands Attorney General and Companies House, with Ledingham Chalmers advising on Falklands law.

Cox said: It was a learning curve with relation to the law over there. Addleshaw Goddard advised issuer KBC Peel Hunt.



http://www.thelawyer.com/cgi-bin/item.cgi?id=112655&d=11&h=24&f=46

The news we have all been patiently waiting for!!

Desire Petroleum PLC
09 November 2004


Desire Petroleum plc

('Desire Petroleum' or 'the Company')

Interpretation of Seismic Survey Data

The Board of Desire Petroleum is pleased to announce that the interpretation of
both the fast-track and final-processed data from the 3D-seismic survey over
Tranches C & D has been completed. In addition to the new 3D-data, the
previously acquired 2D-data was incorporated in the interpretation where no
3D-data were available.

The interpretation included analyses of various seismic attributes as well as a
geological study. All of the processed data proved to be of excellent quality
and the new interpretation largely confirms the new geological model proposed by
the Company. In addition, other, new prospects have been identified associated,
in particular, with well-defined alluvial deltas and fans.

Within the area covered by the 3D-seismic a number of prospects have been
identified. Of these, at least six are large enough to contain economic
accumulations of oil in the range 100-1000 million barrels. These six are in
addition to those prospects already delineated by the 2-D seismic outside the
area covered by the 3D-survey.

One of the features of the 3D-seismic has been the presence of Direct
Hydrocarbon Indicators (DHI's), in particular, there are considerable
indications of the presence of natural gas as well as oil. Considerable volumes
of gas were encountered by the first well drilled by Shell in Tranche B but the
well was not tested because, at that time, the value of the gas was too low to
be economically producible in an area as remote from markets as the North
Falkland Basin. However, since that time, the price of gas (along with oil) has
risen sharply and new technology, such as gas-to-liquid (GLT) in which diesel
fuel is produced from natural gas, have been developed. As a consequence, the
Board commissioned a scoping study on the economics of gas production which has
shown that, at prices well below current levels, gas accumulations would be
economic given a field equivalent in size to a 300 million barrel oil field.
Several of the prospects identified to date match this requirement. It follows
that natural gas can now be added to the economic prospectivity of the North
Falkland Basin.

A number of parties interested in farming into Tranches C & D are now examining
the interpretation as well as conducting interpretations of their own.
Hopefully, these will lead to Desire Petroleum concluding a successful farm-out
leading on to exploration drilling of the most attractive prospects.

For further information contact:

Dr Colin B. Phipps (01684 892242)

Mr Stephen Phipps (020 7409 2138)



This information is provided by RNS
The company news service from the London Stock Exchange

As to my last post to do with Ledingham Chalmers things do seam to be going on in the back ground and look very intresting just when i though i was getting know where an email came back from them.

email i sent

Dear Gavin,

I was under the impression that the office had closed down in the Falklands has it opened up again due to the ******** to commence drilling in 2006

There reply

Mark

Our office has remained open and indeed is closely involved with a number of recent developments on the exploration front - if you would like to send me a note of your telephone number I will give you a call.

regards
Gavin

Strange i thought wants to speak to me shall i or not ..jepp your guess is right so i emailed my mobile number.

In side 10 minutes they were on the phone and a very cagey telephone call it was.
They were intrested to know who i was and what buisnes i do and how did i come across this story about this oil company which i have blanked out at the top there.

I also blaged my way in about Phyll Rendall who is in London at the moment and has had meetings with Desire this week and is flying to stanley this week.

They confirmed that on Wedenday he was having a meeting with Phyll Rendal. There is a lot going on in the background here and things which until i get 100% proof will not post up here as to this oil company which is involved and can i say here its a biggee.

Am very happy at info i have been told and is in front me and its only a matter of time forget FOGL its a long way down the road and a lot of hot air at some of the posts i have read.
Desire are 2 to 3 years in front ,as for the road Desire have gone down back in 98 FOGL will have to go down the same road and maybe a little shorter time if Desire hit oil.

looks like this will double in a day, 6 100 - 1000m barrel fields, the queue to sign must be quite large, there's no more speculation now, this is the real deal!

Marky, you gave him you mobile number !!, they must've been very suspicious as to how you know what you know !! Well done. Just shows how cloak-and-dagger this industry is.

Yes oily thought it was very strange but they know something is off and i no part of the story so intresting times ahead and meeting in middle of week and will email gavin again and see what he has to say then.

Am so near to printing this name of oil company but just need a little more or i would be ramping.Good times ahead and phipps will have to think of six more names now could i suggest one Miss money penny.

Bloomberg
Desire Petroleum Plc (DES LN), which explores for oil and gas near the Falklands Islands, surged 7.75 pence, or 28 percent, to 35.75 pence after saying it discovered natural gas at a site in the North Falkland Basin. A number of unidentified companies are considering tapping the gas, the company said.

How many prospects are there now?

Before the 3D there were 8 according to Desire's website. 5 in tranches C and D; 1 in tranche I; and 2 in tranche L.

The 3D covered tranches C and D. And the RNS tells us "at least six" prospects have been identified.

So has just one more prospect been discovered in C/D? Would one of the resident experts like to answer this question for me?

3D Completed: Seismic Identifies Falklands Oil Prospects
November 9, 2004
by J. Brock (FINN)

3D COMPLETED SEISMIC IDENTIFIES FALKLANDS OIL PROSPECTS



By J. Brock (FINN)



The Board of Desire Petroleum has announced that the interpretation of both the fast track and final processed data 3D seismic survey over Tranches C and D has been completed. They further announce that in addition to the new 3D data, the previously acquired 2D data was incorporated in the interpretation where no 3D data was available.



Analysis included in the interpretation covers various seismic attributes as well as geological study. Excellent in quality, the data and the new interpretation largely confirms a new geological model proposed by the Company. Other new prospects have been identified and are associated, in particular, with well-defined alluvial deltas and fans.



Data interpreted shows that within the area covered by the 3D seismic, a number of prospects have been identified. Of these, six are large enough to contain economic accumulations of oil in the range of 100 1000million barrels. According to information received from Desire Petroleum Plc, these six areas are in addition to prospects already identified by 2D seismic outside the area covered by the 3D survey.



Now for more features! The 3D seismic has shown the presence of Direct Hydrocarbon indicators (DHIs). In particular, there are considerable indications of the presence of natural gas as well as oil. Considerable volumes of gas were encountered by the first well drilled by Shell in Tranche B but the well was not tested because, at the time, the value of gas was too low to be economically producible in an area as remote from markets as the North Falkland Basin. However, since that time, the price of gas (along with oil) has risen sharply and new technology such as gas to liquid (GLT) in which diesel fuel is produced from natural gas, have been developed.



This being so, the Board commissioned a scooping study on the economics of gas production, which has shown that, at prices well below the current levels, gas accumulations would be economic, given a field equivalent size to a 300million-barrell field. Several of the prospects identified to date match this requirement and it follows that natural gas can now be added to the economic prospectivity of the North Falkland Basin.



Several parties interested in farming into Tranches C and D are now examining the interpretation and conducting interpretations of their own. It is hoped that these will lead Desire Petroleum to conclude an successful farm-out. This will lead on to exploration drilling of the most attractive prospects, said Dr. Colin Phipps of Desire Petroleum.