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

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

all of which are tech stocks compared to this company which is supposed to be an oil explorer but which has so far not dug for oil and isn't likely to find anything for years, if ever, at this rate.

Coeliac they drilled for oil back in 1998 and Peak are actively looking for a suitable oil rig for drilling to commence back in the Falklands to drill a 3 wells all with dual targets. You would not be interested in this share if you did not believe that oil was there in large quantities!!!!

Peak doing the buisness!!!

Peak pulls together wells campaign

By Upstream staff


UK-based Peak Group said today it has brought together Eni, ConocoPhillips, Santos and AED Oil for its first multi-well, multi-operator well management project in Australia.

The eight-well campaign is expected to take just over one year to complete and will cost more than A$100 million ($72 million).

This is the first time in Australian operations that a well construction project management company has established a shared programme of activity for operators.

Peak will hold the contracts for the semi-submersible Stena Clyde, the supply vessels, the third-party service contracts and the logistics and supply base services.

The company will provide a complete well construction project management and

procurement service for most elements of AED's Puffin 7 and 8 development wells and its Puffin 9 exploration well in the Bonaparte basin.

Peak will provide a range of contract services for the other client operators.

Marky I am interested in the share because of the hype and momentum and anyway I have a few locked away- with the emphasis on "few"! There is no real evidence of commercial oil though I realise some people like to believe it and have put all their eggs in this basket.

coeliac1
Read the " Falklands Alternative" and then tell us what conclusion you arrive at.
10 X the oil of saudi ?

Coeliac,

I dont know what you have read but I know what I have read and it does suggest that substantial amounts of oil has a cumulated in the NFB, the BGS have spent many years studying the basin and after Desire drilled back in 1998 one hole which was drilled oil was found on the logging tool which suggest itself that oil is there.

Its a bit like the North Sea were did 35 billion barrels come from? Companies which were prepared to drill there.

Tell me Coalaic before the drill bit goes down where would you think the share price will be?

marky
All the seismics in the world are no use if there is no drilling and therefore no evidence of a commerical find. So far this share has been only of use for trading on the ups and downs, as I have done in a small way.
As for your last point the drill bit hasn't gone down yet and the price is as it is. When a rig is booked there will be a huge hype and I expect the price will move up, as I expect you and everyone else does. Its all a matter of timing.

Coeliac we are both casual observers and have not been position to see the full technical facts so I leave that to the BGS who are highly qualified in the work they do and are professional at the job they do.

Now if they think that there is up to 60 billion barrels of oil has been generated then I will take there word on it, like when you have a tooth which is chipped you go to the dentist to get it fixed you dont go to a hairdresser.

There will be always doubters and its up to them to read the information which is available on the internet to make sense of it.


6 Wells were drilled in this basin in 1998, 5 of which encountered good oil and oil and gas shows.

The wells drilled in 1998 established the presence of a very thick (1,000metres+) lacustrine source rock (believed to be the second richest in the world). Only the bottom part of this source rock is mature for oil generation, and it is believed that the overlying immature source rock has operated as an effective, basin-wide seal, which may have prevented the migration of oil to the sandstone reservoirs encountered above it. These sandstones were the target of the initial drilling campaign and the presence of the seal could explain why these reservoirs are not charged with oil.

Only one well penetrated any depth below the source rock and, although it did encounter hydrocarbons, because the well was drilled in the centre of the North Falkland Basin farthest from a potential sand source, only siltstone reservoirs, of poor quality, were encountered. However, this result does suggest that, if suitable reservoirs do exist in traps below and/or adjacent to the source rock, they are likely to be charged with oil.

It has been calculated that very large volumes of oil (up to 60 billion barrels) may have been generated and expelled from the source rock

http://www.desireplc.co.uk/pdfs/figure-c.pdf

http://www.oilcareers.com/regions/730/FALKLANDISLANDS(MALVINAS)_oilrig.asp

Drilling Supervisor,


The Drilling Supervisor is the leading Company representative on the drilling rig or work-over unit. His/Her role is to manage the team on the drilling rig, to plan and prioritize activities and to use their expert knowledge to resolve operational problems to achieve the Company objectives safely and efficiently. The Drilling supervisor plays a vital role in providing leadership on the rig and ens...

Location: Multiple,
FALKLAND ISLANDS (MALVINAS) Oil Rig Job Type: Staff

Marky,
What I don't understand is that if there is such a substantial amount of oil, why does it take such a long time (8 years) for Desire to do something about it???
Please enlighten me.

Brilliant question!

simple it has taken that long to bring the price of oil up to level that makes
economic sense to drill in the Falklands.

Hlyeo

Rome was not built in a day!!!

Maybe you should ask Desire that question as i dont sit on the board of directors,but its given me 8 years of toping up and now holding a substantial holding, so am happy.

The last 2 years we have seen Desire show real commitment for drilling to recommence back in the NFB ,we have had 2 open offers one to raise money to complete a 3D seismic survey and the 2nd to fund a 3 well drilling campaign all which were successfully subscribed to.

The next step is to find a suitable rig.

Hi all

Thanks to all for the updates.

DES is looking good still, the 200 day moving average is till moving up. The 20 day moving average is about to go up through the 60 day moving average. When both the moving averages are moving up and cross, this is known as a golden cross. If this performs true to form, DES should be in for another move up tomorrow.





Good Luck All

Eddie

Thanks Eddie
All the best
Regards Berlingo

eddie - fantastic job you are doing here aided by markie and a few others.

take comfort that the info you produce is worth reading.

One of the best informed threads on Moneyam imo.

NO LET-UP IN DEMAND FOR RIGS



09:00 - 21 March 2006

The world's biggest offshore oil and gas drilling contractor Transocean has said it has a huge backlog of orders and it expects to see day rates for its fleet of drilling rigs rising significantly over the next year.

Chief executive Robert Long told an energy conference in New Orleans the company had contracts in hand that would generate 9.6billion in revenue - unprecedented in the industry. He said he expected average day rates for Transocean's high-specification deepwater semisubmersible rigs to rise to more than 180,000 by March, 2007, compared with the average of 102,000 now.

Meanwhile, oilfield service giant Schlumberger expects its annual revenue growth to continue at an average rate of "mid to high teens" at least until 2010, according to its chief executive, Andrew Gould, who was speaking at the same event.

No surprise that Transocean's share price has doubled in a year. I wonder what it would cost Des to hire a rig, never mind when.

should have bought transocean a year ago and switched into desire today, oh well, I'll remember that for the next oil boom in 2020 after oil prices have fallen back below $200 bbl. The chinese are suffering from diesel shortages according to today's papers.

Own up anyone who has been selling their Desire and buying a few RKH. two 50k purchases today and now 37p to buy.

Had a phone call to say there might be news this week from a dubious financial house, so there must be lots of rumours going around at the moment.