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

Cheers Eddie i see we have a BUY CONFIRMED

http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S

OIL GIANT DROPS MAJOR RIG ORDER



11:00 - 17 December 2005
Major North Sea operator Shell has slashed a rig contract after a tax hike.

In his pre-budget report, Chancellor Gordon Brown said tax would soar to 50% of profits.

Experts fear offshore drilling investment could plummet by a third.

SNP leader Alex Salmond revealed Shell's decision to cut an order for three rigs to two following the tax increase.

Shell confirmed the move saying it was made "after an investment review" and more cuts may follow.

Shell said it was continuing to evaluate the impact of the 10% tax rise on offshore oil company profits.

There has already been a drop in projected exploration activity and other companies could follow suit.

Mr Salmond said: "Now we have the first tangible sign Scottish jobs are being sacrificed on the altar of Brown's tax grab.

"The danger is that billions of pounds for Brown today will become thousands of jobs lost in Scotland tomorrow."

Shell admitted it was "disappointed" with the Government's decision and the UK Offshore Operators Association said it was "ill-judged".

The confirmation that Mr Brown's decision to raise tax on the profits of offshore oil companies to 50% from 40%, effective in the new year, has already resulted in a reduction of projected exploration activity and reinforced the alarm voiced by industry experts when the tax rise was announced in the pre-Budget report.

West Aberdeenshire Liberal Democrat MP and energy spokesman Sir Robert Smith said the news confirmed their worst fears.

Rig count takes a tumble

By Upstream staff


The number of rigs drilling for oil and natural gas in North America decreased 2.3% this week according to data compiled by Baker Hughes.

The number of North American drilling rigs in operation was down by 50 compared to last week at 2112.

The total US rig count fell 20 to 1463 and the total Canadian rig count fell by 30 to 649.

Evening all,

I was just wondering how everyone who has taken part in the moneyam championship investor is doing?

I have been making steady progress this month but Desire needs to start moving and one of my other selections

Overall Rank: 686 (686) View league Monthly Rank: 143 (143) View league

Morning Markymar, (Late night??)

19 December 2005


Desire Petroleum plc (Desire)

Drilling Update

Desire is pleased to announce that the Environmental Impact Assessment, required
for drilling in Tranches C and D in the North Falkland Basin, has been submitted
for approval to the Falkland Islands Government. The full documentation will be
posted on the Desire website.

In order to increase the flexibility of the drilling programme, a detailed
analysis of the shallow 3D seismic data, for site- survey purposes, at nine
drilling locations, within Tranches C and D in the North Falkland Basin, has
been submitted for comment to the Health and Safety Executive (acting for the
Falkland Islands Government (FIG)).

In addition, and in response to long lead times for the supply of drilling
equipment, Desire has decided to order now, all of the casing needed to fulfil a
three-well drilling programme. When received, this casing will be stored in
Aberdeen ready for the drilling programme.

Work is now well advanced on all of the fronts necessary to commence drilling as
soon as the rig market allows and Desire will continue to review both its
drilling programme and well design in order to meet changing circumstances when
a suitable rig does become available.

At the recent conference in London on Commercial and Technical Strategies for
Managing Exploratory Risk in Frontier Regions Ian Cross, Vice-President of IHS
Energy presented a paper entitled " What can we really expect from unexplored
areas?- Global elephant hunting. "
In this paper he highlighted the significant exploration wells to be drilled in
the World in the next 18 months ie wells with the potential to find a major
field with 250 million barrels or more of recoverable oil. In this category he
included Desire's wells to be drilled in the North Falkland Basin.
He also noted that there are very few areas in the World where oil fields of
this size can now be found with discovery levels now back at the levels last
seen in the 1950s.
IHS is a leading global provider of consultancy services and technical
information to the oil and gas industry and as such are well placed to provide a
global overview of the oil exploration scene.

Hi Capt,

You could say i had a late night! Better day for you today Eddie

http://www.desireplc.co.uk/pdfs/eis_full.pdf

Hi all

Well DES had a nice move up today, gap up. The drilling update seems to have brought the bulls back in. The volume was a fair bit higher with mainly buys. The candle does have a shadow on top this shows the bears are still selling at the upper end of todays trading. The Britishbulls.com have DES on a hold after a buy tag. DES is currently above the 10 & 20 day moving averages. Lets hope the buying continues.





Good Luck All

Eddie

FT.com Alerts
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SMALLER COMPANIES UK: Desire makes Falklands progress

By Rebecca Bream

Shares in Desire Petroleum rose some 6 per cent after it said it was making progress at exploration projects in the Falkland Islands.

The Aim-traded group had submitted its environmental impact assessment for two oil and gas projects in the North Falkland Basin, known as tranches C and D, to the Falkland Islands government.

Desire's exploration work has been hampered by the shortage of drill rigs in the oil industry, and its stock has halved in price this year.

Desire said yesterday that, "in response to long lead times for the supply of drilling equipment", it had ordered all the equipment needed for a three-well drilling programme. The group would store the equipment in Aberdeen until it received approval for drilling, it said.

The shares rose 1p to 26p. Rebecca Bream

Many thank's to Eddie and Lynnzal for there chart updates.

The seismic charts have to be updated as well with ref. to the EIA.

Refer.

http://www.desireplc.co.uk/pdfs/eis_full.pdf

The 3 holes in my old chart have now become more defined, and indeed positioned to within a few metres.

The number of holes has inceased to 9 but alas, at the present moment in time only 3 will be used.
However after the interpretation of the navigational data available, I predict the following. (9 red dots)

Main cluster is the Liz/Beth overlap (the 3 red dots closest together in the SE corner, the 3 outer dots in the SE corner are over Beth (two) and Liz (one) only.

The 3 in the NW spread wide are (left) Ninky, (top right) Kath/Rachel overlap, and (bottom right) Anna + Anna deep??(reads ANN in the EIA, typo??)

So it looks like the 3 hole option with 6 targets is still on.

All of the above requires confirmation by Desire Bulldogs.
So a tentative "Drill if " has been posted, subject to rig availability.

Happy Phippin Christmas and a well oiled New year.

I hope you have a sence of humour.

Capt, having looked carefully at the red dots I agree it was a typo. One is slap bang over Anna

I don't mind which 3 targets they chose first as long as they turn out to be lucky choices. Anyway Happy Phippin Christmas to you too and all posters holding Desire shares.

I would think it is a close call on the first well location.

COS. % of Anna and Liz, very close. (top 2)
COS % of Ninky?? They do seem more bullish on Ninky lately Imho.
Dr.Pickerings presentation seemed upbeat on Ninky as well.

My opinion is the result from the 1st well will determine the order and name of the next 2.

Capt cheers for that and will tug on them whiskers of yours a little longer.

http://www.falklandnews.com/public/story.cfm?get=3673&source=3

Finally, ExCo agreed that an environmental impact assessment prepared by Desire Petroleum plc in connection with their proposals to drill three exploration wells to the north of the Falkland Islands should be published. ExCo proposed to consider the EIA once the process of public consultation had been completed.

Hi all

Thanks to all for your updates.

After yesterdays move up the market appears unsure again about which direction to move. Todays candle shows a doji, after a move up. The volume was a little lower again today. The Britishbulls.com have DES back on a sell if today.





Good Luck All

Eddie

Interesting news that Rockhopper have signed a contract with OHM. If the shallow water electromagnetic survey proves effective then Rockhopper may be ready to drill at the same time as Desire. Not sure if Rockhopper have enough funds but something might give in that direction which will start to bring down Desire's costs of bringing in a rig from the North Sea. I understood that there was a patent dispute effecting OHM but according to the OHM BB that only applies in North West Europe and the new shallow water survey is exclusively OHM's which has software to remove interference from surface reflections. So we now have casing being stored in Aberdeen, a partner (RKH) is accelerating surveying of prospects and the EIS has been completed. This is a lot of random news at once. OHM were involved in the unsuccessful faucon-1 well off Mauritania so their technology isn't perfect but is hopefully evolving and improving.

Hi all

DES moved down a little today, the volume was lower again today. The sell if on Britishbulls.com was not confirmed. Confirmation is still required. Which ever way DES goes tomorrow, just takes us a day closer to getting a rig.





Good Luck All

Eddie

Lot of buying today, sp up 8%, has news leaked on the rig?

Hi all

Yep DES is looking very good this far. It'll be great if DES closes on the days high.

Good Luck All

Eddie

I guess the rig is on course now

Hi all

What a DES fantastic day. DES made great gains today, although the sells seemed to be more than the buys, there were a lot of unkown which must have been buys also. The volume was up some today also. DES is currently above the 60 day moving average. The 10 day moving average has just come up through the 20 day moving average. DES has a few buy indicators Renco, Point & Figure and candles now suggesting buy signals. Britishbulls.com have DES on a hold, from a buy, DES has gained 15.46% since the buy signal. DES was the 2nd highest mover by % in the oil and gas sector today. All being well the bulls & MMs will be pushing DES up some more.





Good Luck All

Eddie

Cheers Edd, Marky, and all supporters, have a good one.
About time some good news came through,
still a bit thin but at least positive,
news of a rig date in Jan would be welcome.
Alll the best
HUSTLER

Hi all

I'll use the chart above.

Another nice move up today, the sells looked to more than the buys again, with quite a few unknown. The volume was reduced again today. DES closed on the high of the day and still has a hold tag on Britishbulls.com. Continuation would be nice.


Good Luck All

Have A Great Christmas

Eddie