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

Eddie I guess you dont have to answer that question about the 35p barrier as have stormed past it to day, will be interesting tomorrow to see what happens as last trade they were asking 40p.

We still need news of a rig been secured until that happens I think we are still in for a bumpy ride, but good to see the prise rise!

Ncfltwo---hope your still holding! Not a bad profit for one day.

Desire 18.3% up today or 6p

Cup and Handle
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.

As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways with a tendency towards a downtrend for four days to four weeks... then it takes off. Below is an example of a cup and handle chart pattern:



A couple points on trying to detect cup and handles: Length - Generally, cups with longer and more "U" shaped bottoms, the stronger the signal. Avoid cups with a sharp "V" bottoms. Depth - Ideally, the cup should not be too deep. Also, avoid handles which are too deep since the handles should form in the top half of the cup pattern. Volume - Volume should dry up on the decline and remain lower than average in the base of the bowl. It should then increase when the stock finally starts to make its move back up to test the old high. Retest (of old high) - doesn't have touch or come within a few ticks of old high. However, the further the top of the handle is away from the highs, the more significant the breakout needs to be.

Hi Marky and all fellow supporters
We are all aware of the 18% rise today
and very welcome it is after months of sidewinding and sliding.
The puzzle is why ? no breaking news but those in the
background must have a sniff of something.
Des was by far the highest riser in the oil sector today
2nd place only managed a 6% rise and interestingly
Falkland oil & gas was 5th up 4%
Des was also in 6th place in the overall market of over 2000 stocks
this does not happen by chance.
tomorrow will be interesting and a drop back could be expected
as we are now trading through the resistance level of around 34p
however it appears we may have turned the corner and news
soon, hopefully a rig date will comfirm.
The Dow & Nas are also both positive up .5% at time of post
bodes well for the overall market again tomorrow.
All the best
HUSTLER

Hi all

Well markymar DES has made some great gains, I'm sure the regulars are all feeling better. What I see is DES has moved up through the 200 Day moving average whilst the 200 day moving average had also started to move up. This is seen as a good indicator for a continuation up. As we can see there are some resistance areas which are about 0.4000p, 0.4300p and 0.4500p. I don't think the first two will be a problem, but the market may see 0.4500p as being a sticking point. However the fact that DES has re-joined the top part of the chart (moved up through the falling window) is a another bullish indicator. Todays candle closed on the days high DES was the highest mover by % in the sector. All good indicators, put these with some good news and I'm sure DES will rocket.

Great chart markymar cups looking good.




Good Luck All

Eddie

Oily Jim

I take it your seal has sniffed out something in the North Falklands & it aint fish.

Nice.

Marky , how did Des perform on the German exchange today ?
Regards
Berlingo

Hi berlingo

http://www.berlinerboerse.de/ 7.32 %up

markymar

I will send you the bill for the rights of the chart (cup and handle + explanation), I will tell the secretary not to bother with VAT.( ja, ja, ja, divina would say) some times is nice to say "were those nice things come from".

enjoy the rise, though not today so far, profit taking early this morning as some were expecting news, though a couple weeks or more most likely will be.

Morning Master,

Thank you for not adding the vat as have no money just a ticket waiting to be cashed in at some point in the near future I hope.

I did not realise you spread your wings this far over here and what happened to the Cup and Handle theory today?

Keep up the good work

Marky

markymar

re-Cup and Handle

the theory is still there, but any easy up , is easy down, spikes can not hold, you should know, but yet we are above the breaking 36p yesterday, and from here only better things to come.

I can hear now from many different sources that the rig is a "YES" thing but still a couple weeks to be reported (reason) do not know but I could speculate froma couple things

What reasons do you suspect would prevent Desire confirming the rig has been secured?

Hi Master,

When you say you hear from many different sources that a rig is a yes do you mean from your own contacts which I would think are creditable or do you mean from the boards ect.

There is something I am sitting on at the moment and trying to see if it is possibility but has not been mentioned on the boards at this present time which is good news as the boards are ripe with gossip and nothing to back it up.

Am sure Peak group have there finger on the button and there are good reasons why or when a rig becomes available until that time.

Hi all

DES still looking good, although some of yesterdays gains were given back. The chart is a little different it shows the support and resistance areas, support at 0.3333p, resistance at 0.4133p. Notice the support is above the 200 day moving average, the 10 day moving average is bellow. This is suggesting that the support is likley to continue. The 10 day and 50 day moving average are both moving at quite a sharp pace towards the 200 day moving average. As you can see it has been some time since DES has traded above the 200 day moving average. Another good sign is there was a couple of heafty buys at the end of the day.






Good Luck All

Eddie

Cheers Eddie,

I see that in berlin Desire shares were up 18% today

http://www.berlinerboerse.de/

Type in Desire Petroleum to get quote.

Rockhopper's turn today, up 14%
highest riser in oil sector by far.
8th overall in market highest risers.
Des & Fo&g yesterday's winners
something big is brewing
and with Des leading the way news will break soon.
We are all in rig news mode but what about a partner,
Major perhaps with a big stick and a rig ready to go ?????.
just a thought.
all the best
HUSTLER

Looks like anyone who holds GRWA shares will keep there exposure to Desire as they have no intention on selling there remaining shares they have in Desire, so a little good news there.

Good to see the price ticking up today so far 3.4% up wont be long knocking on door at 40p.

Aur,where are you gone,i told you not to go out and about lookingfor the drilling rig,wait for the fine weather,i found your glasses,come back in,rig is coming ,no need to worry,may come before we are pensioned off.

Hi all

Thanks to all for your updates.

DES looking great again today. The support has now moved up to 0.3600p. The moving averages still moving up. Next week is looking to be exciting, I'm looking forward to it!





Good Luck All

Eddie

anyone care to enlighten me regards the" Falklands Alternative"

Beautiful chart exhibiting a perfect cup with handle formation. William O'Neill believes this formation to be the most potent of all chart patterns and is a precursor to sustainable price gains. Companies showing such patterns before going on to rack up exponential price gains ARE:

Cisco
M;Soft
Intel