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

Hi all

Thanks for the updates Markymar.

DES managed to stay above the rising trend line today. The market opened low, the bulls then pushed DES back up to yesterdays close. This created a bullish pattern called meeting lines. Britishbulls.com have some more reading on this, there is also a Buy If tag. This will need confirmation. All is looking good, I think DES will get the support, lets hope so. The fibonacci line is also being tested.




Good Luck All

Eddie

Thank you for up date Eddie,

Falklands : Hydrocarbons Daily Record (06/05/06)
Submitted by Falkland Islands News Network (Juanita Brock) 06.05.2006 (Current Article)
President Morales of Bolivia will be in Vienna next week to meet with European Oil Authorities and Companies.


HYDROCARBONS DAILY RECORD (05/06/06)



By J. Brock (FINN)



At 1800 LMT on Friday, 05 May 2006, prices reflected a slight rise in the price per barrel with Light Sweet Crude .25 Cents higher at 70.19 and Brent Crude .66 Cents higher at $70.95. This reflects cautious patience in analysing indicators that normally would cause nervousness.



Contributing factors seem to be the sabre rattling between the US and its allies through the UN Security Council and Iran over uranium enrichment. Iran has been firm in its denial of accusations that the enrichment is for Military means. The naturally reticent Iranians, playing their cards close to the chest, remain firm in their argument that enrichment is for power generation and nothing more. Even though Iran has offered the IAEA access for surprise inspections, the US views Irans nuclear fuel enrichment programme with suspicion.



In South America there was an impromptu meeting between the presidents of Argentina, Brazil, Bolivia and Venezuela on Thursday. President Kirchner of Argentina and President Lula of Brazil advised Bolivias President that unpalatable contracts will not do Bolivia any good. They did, however, agree that it was good that Bolivia took control over its natural gas reserves. Analysts say that unpalatable contracts lead to the decline in Venezuelas production from 3.3 Million barrels per day to approximately 2.5 Million barrels per day. The take-over has already put on hold a planned expansion of a gas pipeline by the Brazilian Oil Company, Petrobas and it is possible that if the contracts are too harsh other investment will be sized down or cut off completely.



Next Week President Alvo Morales of Bolivia will travel to Vienna, where he will meet with oil industry officials in the European Union. With dialogue he may be able to allay fears that those contracts will not be workable. We wait and see.



LOCAL IMPLICATIONS:



Local companies with oil interests are looking with caution on the events in South America. It is hopeful that contracts for Bolivian Gas will follow along professional, rather than political lines, in that the industry should help to offer alternatives as well as governments. A political solution may not benefit the industry or the people of Bolivia, who desperately need more support from their hydrocarbons industry.



Buchanan will be acting as ongoing media advisors to Desire. Basic plans include introductions to the financial media and oil and gas trade journals, extensive introductions to City analysts who cover the oil and gas space and further introduction to retail brokers.



Desire are presently working on the media materials and hopefully will advise on some changes to the format of the website so over the next few months they hope to build up the profile of Desire in a consistent, clear way.

Falklands : Hydrocarbons Weekend Record (06/07 May 2006)
Submitted by Falkland Islands News Network (Juanita Brock) 08.05.2006 (Current Article)
Rhetoric is heating up against Russia. Many analysts think it is because they do not support sanctions against Iran.


HYDROCARBONS WEEKEND RECORD (06/07 MAY 2006)

By J. Brock (FINN)


At the time of writing, markets for Light Sweet Crude and Brent Crude are just waking up and there is no firm price for over the weekend. Prices will be quoted in Mondays Daily Record. However, there was one indicator for Light Sweet Crude showing that it raised .16 cents in the Asian Markets early in the trading day.

The US, accustomed as it is to sabre rattling, has begun to speak out against Russia by saying that it is reverting back to its totalitarian past. Remarks made by Vice President Dick Chaney last week and those made by President Bush over the weekend have added to nervousness about oil supply to Europe. For its part, Russia has hinted that it might go ahead with a proposed pipeline to China and Japan. This increased rhetoric seems to be in response of Russias stance against sanctions against Iran.


The US and its allies through the UN Security Council have warned Iran to stop producing enriched Uranium. China and Russia are against sanctions for Iran and would rather have dialogue than war. President Bush in a recent statement did not rule war out of the equation and this increased acid stomach in oil investors.

In South America, Bolivia can rest easy for its philosophy of nationalising their natural gas reserves back and giving them to the people. In principle Argentina, Brazil and Venezuela agree this was a good move. The warning to Bolivia to make the new contracts with Foreign Oil Companies workable still holds as well as the temptation expressed by Brazils Petrobas SA to discontinue planned expansion of its gas pipeline from Bolivia.


President Alvo Morales of Bolivia will go to Vienna this week, where he will meet with oil industry officials in the European Union. If dialogue goes well President Morales may come away with advice that will do his country a lot of good.

LOCAL IMPLICATIONS:


The feel good factor still abounds with hopes that Desire Plc will get the rig it so desperately needs to explore prospects in the North Falkland Basin.

http://www.mercopress.com/Detalle.asp?NUM=7834

Falklands-Malvinas
Monday, 08 May


Kyoto protocol will extend to Falklands



THE Falkland Islands is going to join the UK in ratifying the United Nations Framework Convention on Climate Change and the Kyoto Protocol.



Before agreeing to do so, the government sought clarification of the implications of such a decision from the UKs Department for Environment, Food and Rural Affairs (DEFRA).
His Excellency the Governor reported, Having been reassured by DEFRA that ratification will not place any significant burdens on FIG, Executive Council agreed that the UK Government should now be informed that the Falkland Islands wishes to be included in ratification of these international treaties.

Also approved by ExCo was the Environmental Impact Assessment submitted by Desire Petroleum in connection with its plans to drill exploratory wells to the north of the Falkland Islands. The EI was approved subject to the following conditions:

that an operational addendum containing details of the drilling contractor and drilling unit when known should be submitted to the Mineral Resources Committee in consultation with the Environmental Planning Officer;
that the addendum to the EIA should be published in the Gazette;
that Desire Petroleum comment on and supply information as required by the Institute of Environmental Management and Assessments External Review recommendations. (These latter are being published.)

Just seen that FOGL, have knocked their 2D survey on the head 2,000 kms. short of the planned 15.000 kms.

I wonder if DES will try and use the Gulf Pacific for the site survey of ANN as indicated in the annual report.

Not the best time of year to do site survey seismic but maybe worth the risk bearing in mind MOB and De-mob costs.

Hi all

Thanks Markymar, Captguns for the updates.

The Buy If was not confirmed today, the good news is we get another go with the Buy If. DES is still sitting just above the rising trend line. There was also a large buy today which may be an early signal of support. Tomorrow will be the last day for which this Buy If will hold. Lets hope the bulls are out in force!




Good Luck All

Eddie

Thank you for the up date Eddie,

Capt bad news For FOGL as am sure will delay things and put back drilling and if i was a day trader would have a short on the share as drilling will be pushed back now till at least 2008 or even later.

Falklands : Hydrocarbons Daily Record (08/05/06)
Submitted by Falkland Islands News Network (Juanita Brock) 09.05.2006 (Current Article)
It has been predicted that a large oil company could have an interest in the Falklands and work with one of our hydrocarbons companies.


HYDROCARBONS DAILY RECORD (08/05/06)


By J. Brock (FINN)


At 1800 LMT on Monday, 08 May 2006, prices reflected a decline in the price per barrel with Light Sweet Crude .25 at 69.77 and Brent Crude at $70.21. This reflects a lull in rhetoric and optimism for dialogue efforts.

Contributing factors include rising supplies and a slightly less demand. It is not known if the trend will continue but it is hoped the situation will continue to contribute to lower hydrocarbons prices.



The President of Iran has written a letter to U. S. President Bush offering what he sees as the way forward and new solutions for the present stand-off between the two countries over Irans enrichment of nuclear fuel. The US has dismissed the letter as rambling and offering no substance. Iran stands by its claim that it is enriching fuel for energy generation only. Investors see the letter as an effort by Iran to seek a solution for the current impasse with the UN Security Council. This has lead to more confidence.


China and Russia are against sanctions for Iran and would rather have dialogue than war. It is possible their persuasion for dialogue may be a factor in the Iranian letter. Rhetoric by the United States against Russia has died down for now. Their accusations that Russia is using its hydrocarbons as a manipulative tool have not yet been proven to investors but they are waiting for more analysis.

In South America, Bolivias president is preparing for a meeting in Vienna with European officials and hydrocarbons industry representatives. It is hoped that the right advice will result in fair and workable contracts for Bolivian Gas.


LOCAL IMPLICATIONS:


When Desire gave a presentation in Stanley about the Environmental Assessment Dr. Phipps mentioned that it was unusual for a large oil company like Shell to get in on the initial exploration stage in the North Falkland Basin. He mentioned that large oil companies wait until all of the exploration work is done, then move in to buy part of take over the businesses doing the exploration. We in the Falklands are waiting to see if this happens with any of the entities searching for hydrocarbons in the North and South Falkland Basins.

Desire AGM is at 6pm on the 24th of May and will be held at the Reform Club, 104 Pall Mall, London


FOGL

The latest phase of seismic acquisition ended on May 5th. The rate of acquisition had recently slowed during a period of poor weather. Nearly 13,000 km of data has been acquired which has already substantially improved the definition of key prospects and has also helped to identify additional prospects in areas where the previous coverage was sparse. More seismic acquisition is planned to commence during the summer months in fourth quarter 2006. This takes the total amount of 2D seismic recorded by FOGL to 22,450 km which far exceeds the requirements of our licenses.

http://www.falklandoilandgas.com/fog/operations/pdfs/latest%20phase%20end.pdf

Who knows Markymar??

According to their web site 2008 seems to be the maybe plan now.

http://www.falklandoilandgas.com/fog/operations.php?sec=2

FOGL plans to conduct further seismic surveys targeting all the leads but with particular emphasis on the approximately 50 most promising. The aim will be to develop 20 high quality, technically sound and potentially economically viable drilling prospects. The Company then intends to develop a multi-well drilling programme which may be able to begin in 2008.

The news gets worse for FOGL capt,2008 a long way off and even that might be pushed back further as other delays might add to the problems.



Pip Pip

Shell on 'Big Cat' prowl

By Upstream staff


Shell is looking at several new exploration opportunities in the Asia-Pacific region to supplement its current portfolio, and is looking forward to a major operated drilling programme in Australia.

Wouter Hoogeveen, Shell vice president-exploration for Asia Pacific, said there were multiples of opportunities, and a number of prospective countries, but would not name specific countries.

"I will name those countries if we are awarded acreage," he said at the APPEA conference in Gold Coast, Australia.

"There are opportunities out there where we would be prepared to commit our intent and manpower," he said.

Meanwhile, the company is returning to operating wells in Australia for the first time since the 1990s.

Shell has contracted a semi-submersible for a 12-well gas hunt off Australia in a block that it believes could be a significant contributor to the supply of LNG to the Asia-Pacific market.

The supermajor hired Diamond Offshore semisub Ocean Epoch at a dayrate of around $225,000 from early November 2006 for 12 months.

Shell owns 100% of block WA-371-P in the northern Browse basin. The permit lies in relatively shallow water depths that range between 200 metres and 300 metres and is adjacent to the giant Ichthys/Brewster gas field operated by Japans Inpex.

Up 10% today on shell joint venture rumors

take a look on the ADVFN board, a report from the, Egm from dublin on (PCI) GOOD NEWS AWAITING TO BE RELEASED.

Hydrocarbons Daily Record (09/05/06)
May 9, 2006
by J. Brock (FINN)

HYDROCARBONS DAILY RECORD 09/05/06)



By J. Brock (FINN)



At 1800 LMT on Tuesday, 09 May 2006, prices reflected an increase in the price per barrel with Light Sweet Crude at $70.69 and Brent Crude at $71.14. This reflects confusion, with rhetoric dieing down and the hope of dialogue between Iran and the UN Security Council, which should mean a further reduction in prices. Clearly there are other contributing factors keeping oil prices high.



TRENDS:



There have been no reports about the trend of rising supplies and a slightly less demand being reversed. Though it is not known if the trend will continue, it is hoped the situation will contribute to lower hydrocarbons prices. However, this trend, along with the hope of dialogue, does not appear to be the defining factor in oil price reduction, though it may have helped to prevent a larger jump in prices.



DEVELOPING FACTORS:

(Iran and the UN)



In the past, nervousness over the situation in Iran has lead to higher oil prices. The United States has not changed its stance against Irans President Ahmadinejads letter to President Bush, saying it dealt with politics and not the current situation where Iran is enriching nuclear fuel for energy generation. US Secretary of State Rice has said that Iran brought all of this on itself by leaving the negotiating table itself and that the behaviour was unacceptable.



The UN Security Council met today on a wide variety of matters including Irans nuclear fuel enrichment. Iran has said that it would co-operate with the IAEA and the Security Council seems to have agreed with this saying that Iran must co-operate with the IAE Board of Governors. Iran has also said it would agree to surprise inspections by the IAEA. The Security Council further said that Iran would be offered a package of benefits if it co-operates and a package of sanctions if it does not. If Iran chooses not to co-operate the price of oil could go higher.



(Russia and China)



US Rhetoric about Russia has abated for the time being, with the possibility that Russia along with China is helping Iran to seek alternatives. One option is to enrich nuclear fuel for power generation in Russia.



There are no new reports about the proposed pipeline between Russia and China and Japan.



(Latin America)



In Latin America, the Government of Venezuela has announced on Sunday that it was going to create an extraction tax. President Chavez, who made the announcement, said he did not know how much it will be but was hopeful it would generate several hundred million dollars for his countrys treasury this year and more than $1Billion in 2007. Companies Affected by any new taxes include: local and foreign companies such as Spanish-Argentine Repsol YPF, China National Petroleum, the US firm, Chevron and Brazils Petrobras.



There were no reports today about Bolivias president preparing for a meeting in Vienna with European officials and hydrocarbons industry representatives.



(Falkland Islands)



Falklands Companies reporting results on the Alternative Stock Market via their web pages are Desire Petroleum and Falkland Islands Oil and Gas Limited (FOGL).



Desire Petroleum Plc today the share price rose by 3p to 35.25p on speculation that it is talking with Shell. There is no indication about what the talks entail but it is thought that a positive outcome could mean a rig for exploration in the North Falkland Basin. We wait and see.



Falkland Oil and Gas today the share price remained steady at approximately 147p. Yesterday FOGL announced the completion of its 2D seismic survey of the South Falkland Basin covering 25,000 sq km. It is expected that this stock price could go higher with a positive outcome from the data collected. Already there are several prospects that will need 3D seismic. Again, we wait for a positive outcome.

LOL Markymar, are you the editor??

Desire Petroleum Plc today the share price rose by 3.00 to 35.25 on speculation that it is talking with Shell. There is no indication about what the talks entail but it is thought that a positive outcome could mean a rig for exploration in the North Falkland Basin. We wait and see.

I would not be posting if Des's price got to 35 I'd be letting some bar prop me up.

FOGL were at @ 140p yesterday after a steady fall.

The 2D seismic was not complete it was abandoned due to weather.

Regards Capt Googly (Reverse spin)

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

BUY
CONFIRMED

Good call Eddie, lets see us break the 40p!

http://www.berlinerboerse.de/

In Berlin the price is also following up 10% to day,with the AGM on the 24th of this month looks like we could quiet happily sit around the 40p+ mark

marky,

AGM is 24th @ 6pm

eacninewhy ,

Thanks for pointing that mistake out and i See Finn has corrected his Capt.

Well sort of Markymar,

Mind you I think with a name like Juanita, I would think he is in fact a she.

Submitted by Falkland Islands News Network (Juanita Brock)

Looking foward to Eddie's update.