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

Capt like to have a guess?

Data interpretation also ate into the budget, with some older data being sold to help offset the costs.

Makes you wonder who else is that interested to buy older data, could the older data be Desires 2D or Shells 3D or Argos 2D?

Not much to go on Marky,

The Dept. of mineral resources / BGS do not own any exclusive data to my knowledge.
Maybe they get a commission on some of the older spec. data.??

RKH, must have bought some as it was part of the licence deal.
Initial term of 3 years:Acquire and interpret existing data over acreage, within 12 months of licence issue.Acquire 640 km of seismic data.

I'm pretty sure both Fogl. and Bor. would have purchased some of the old spec. data as well.

The BGS acting for the Falklands government would, I expect get a data set (or partial data set) of any seismic shot. (But not for re-sale)

Best I can do Markymar.

Cheers Capt,

Good to see some big buys today,should help the SP move forward and break through the 40p this week.

Good see a large buy of 775,000

I`ve had mail from SVC securities? trying to tempt me with a report on Desire that they have supposedly done. Probably a ruse to tempt me to invest via their Company. Anyone else had this ?
Thanks for all updates from usual posters ,Eddie ,Marky etc
Regards Berlingo

Higher volume . More buys then sells i think . Getting interesting !

Hi all

Well yes more volume but no price movement unfortunatly. DES is still looking good with the 10, 20, 50 day moving averages still moving up. The 200 day moving average has droped a little though. Todays candle is one of indecision, the candle shown on Britishbulls.com is the one I have (not the one on moneyam). Britishbulls.com have DES on a sell if, but confirmation is required though. The 0.4000p is where the resistance is, this may be tested upto three times. DES is sitting just above the 10 day moving average, so the support seems to be there still.





Good Luck All

Eddie

Berlingo, I had the same offer from SVC securities but there report is more about the oil price and AIM stocks in general. They just copied the latest news releases from Desire and so could have assembled the report in 5 lazy minutes, definitely an unprofessional group.

Very pleased to see the 775k purchase today.

Hi All,
Thanks Luckyswimmer,i thought it was another one of 'those' companies but it`s
nice to get a second opinion .
There is definitately a feel good factor about DES at the moment . Price is
holding up well and some large buys going through , does make you wonder
that something positive going on in the offices of PEAK !?
Good luck everyone and thanks to all regulars . Come on you DES .
Berlingo

Hi all

Thanks to all for the updates.

DES made a another move up today. The sell if was not confirmed. The 10 day moving average has dipped a little though. The market appears to be giving support, an attempt on the 0.4000p looks to be on the cards. DES has re-joined the main part of the chart today and has managed to close on the days high. With this in mind, I think we may see a bit more support for DES. DES is currently 60% up from the recent lows, dating back to December.





Good Luck All

Eddie

Thanks for update Eddie

I see that the Pride Venezuela comes off contract in May 06

Also Pride South Seas is under contract to Petro until 31 July 2006 so still options there for Desire.

Aur,you are still away looking for the oil rig ,no need ,every one is looking for the oil rig ,even Peak,an aussie outfit,even Rhp,when one comes,there will be an turbo boost to the s.p.

RHP bit of a Knightrider then?

i say we drill in 2008

Hi all

DES lost some of the gains today. The moving averages have started to drop a little, the volume also. Britishbulls.com confirmed the sell if today. The 0.4000p resistance may take a little while to crack. We should have support at about 0.3500p. There was support towards the end of todays trading, this is the small shadow on the bottom of todays candle.





Good Luck All

Eddie

Evening All
Thanks for the charts as always Eddie . Was that 125k at close a buy or sell ?

Shame Bob did not tell Phipps as he might of pulled his finger out!

Publication:ENRM; Date:Apr 1, 2006; Section:SHAMBLES; Page:8

Rig crisis drives ILT to hire a consultant


THE shortage of drilling rigs in the UK North Sea has hit home, with theIndustry Leadership Team (part of steering group PILOT of whichthe Department ofTrade &Industry is amember)seeking tofind a solution tothe deepening cr isis.

According tonewswire Rigzone, energyconsultancy SenergyofAberdeenhas been commissioned to study the probl em .

In fact,it isSenergys CEO, James McCallum, who has been asked by ILT to do the work, not the DTI,asRigzonealso cl a i m s .


Dismissing itsquotes, Mc-Callum told Energy: Its not true tosay Senergyis putting together the report.

Iwas askedtolead awork group as part ofILT to make recommendations for sharing rigs in the North Sea. Phase one of thework iscompleted; the second phase has just begun. Currently, the initiative has inputfrom 11differentcomp a n i e s .


McCallum agreedthat the problem was notunique to the NorthSea. Ithas becomea worldwide issueand thisnow dictates what drilling tonnage is av ailable.

AtEnergy,we arepuzzledas to why ILT should commission suchastudy, giventhatthe worryof rigsharingis notnew and the solution is simple.

Moreover, our February front page leadhighlighted thefact that this processwas already well developed, thanks to Aberdeen company Peak Group.

It dovetailsthe drillingrequirements ofa portfolioof client explorationand production companies together to create essentiallyseamless work programmes for the rigs it hires on their behalf.


Our headline read, UK faces exploration drilling crisisas rig shortage bites. We reported that this is a different drilling boom toanything experiencedinthe pastbecause itisthe nowlarge cohort of smalland mediumsized independents that are driving the demandfor rigs
not themajors, aswas previously always the case.

Weindicated thatthebiggest chunkofthat demandisbeing co-ordinated by Aberdeen company Peak, which has come to the fore in just three years as the number-oneclientfor the drillingcompaniesby commanding more than a third of the UK wellconstruction market last year.

Lastyear, thecompany notched up 24exploration and appraisal wells on behalf of its client oil companies, which was roughly one-third ofthe entire 2005 E&A market.

Once again, in 2006, Peak is in the lead, controlling the largest sliceof theUK drillingmarket. ItsMD, BobLyons, warnedthat he could see the crisis coming a mile off at the start of 2005.


Last year,UKOOA indicated at a mediabriefing that some sort ofrig club mightbe formed, but this was no more than a proposal at that time.

Perhaps thestudy beingcarried out byMcCallum will lead to the idea being matured.

Marky

Bob Lyons DID warn Colin Phipps he could see the crisis coming a mile off at the start of 2005.

This was in a statement he made in his last interview.

Kind regards

marrow

http://www.falklandnews.com/public/story.cfm?get=3835&source=3


"DESIRE'S ENVIRONMENTAL IMPACT ASSESSMENT


It was recommended that the Environmental Impact Assessment that was carried out on behalf of Desire Petroleum be accepted. It was the first time something of this size had been done in quite some while, so it was a welcome study."

Hi all

Thanks markymar.

Not very much been going on of late. Todays trading was a little unusual, there were much more sells than buys. DES managed to move up? not sure what is going on but todays candle has shown support and has bullish implications. The 200 day moving average also moved up by a fraction. DES appears to be holding well at this price, and may be ready to move up a bit more. The volume was quite a bit higher also today, so if the bears havn't managed to push DES down today then we may see them have another go tomorrow. Britishbulls.com have DES on a buy if tag.





Good Luck All

Eddie