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

Oil Barrel today:

Desires 3D Results Highlight Oil And Gas Potential Of The Falklands
Desire Petroleums 3D seismic shoot over Tranches C and D in the North Falkland Basin off the Falkland Isles has exceeded expectations and the exploration outfit is now hoping to sign up joint venture partners ahead of starting drilling work next year.

Were very pleased with the results, Dr Ian Duncan of Desire told oilbarrel.com. Its confirmed what we expected to see and exceeded some of our expectations.

AIM-quoted Desire - named after HMS Desire, which discovered the Falkland Islands in 1592 - was formed in 1996 to participate in the first round of licensing offshore the Falkland Islands. The company holds 100 per cent of Tranches C, D, I and L, which cover a total of 3,650 sq km or the equivalent of 13.5 UK North Sea blocks. Desire also holds 12.5 per cent in the Talisman Energy-operated Tranche F.

While the 1996-1998 exploration campaign failed to live up to the high hopes of the international oil prospectors, which included major oil companies, five of the six wells sunk during the initial drilling season recorded oil or oil and gas shows and established the presence of one of the richest source rocks in the world, the lacustrine.

Desires latest technical work has strengthened its belief in the prospectivity of the North Falkland Basin and its geological model for the area. Existing 2D data has been incorporated in the interpretation of the new 3D data, enabling the geologists to see deeper horizons not tested by the 1998 Falklands exploration campaign. The new data has largely confirmed Desires geological model as well as identifying new prospects, of which at least six could hold between 100 and 1,000 million barrels.

The 3D seismic also highlights Direct Hydrocarbon Indicators that appear to point to the presence of gas. Considerable volumes of gas were, of course, found by Shells first well in Tranche B in the 1990s but left untested because it was considered uneconomic at the time. Desire believes those economics have now been turned around given the surge in the price of gas and the reduced costs of gas-to-liquids technology. The company reckons that even at gas prices well below current levels, a gas accumulation equivalent in size to a 300 million barrel oilfield would be commercially viable. Several of the prospects identified on the seismic match this requirement.

Potential farm-in partners are now assessing Desires data. A number of companies have expressed an interest and they are reviewing the data, which obviously takes some time, said Duncan. However, we would hope to put together a group so that we can get drilling as soon as possible, ideally towards the back end of next year.

Desire aims to retain at least a 50 per cent stake in the acreage. We want to keep our exposure because we really believe in it, said Duncan.

Desire, of course, is not the only company that believes in the prospectivity of the waters off the Falkland Isles. Falkland Oil & Gas with joint venture partners Global Petroleum and Hardman Resources are preparing to shoot a survey over their acreage in the South Falkland Basin later this quarter. Geologically the two areas are very different and results in one area cannot be used to understand the other. Even so, Desire sees the renewed interest in the southern Atlantic as positive.

Its good that other companies are there now, said Duncan. It means we may be able to share some rig mobilization costs and keep costs down.

He added: Theres a lot more interest in the Falklands because its a very under-explored area with a lot of potential.

Great post oily and good to hear your view mate and i think maybe your right.

Good morning, Marky.

My workmates tell me Newcastle is very, very good for a Spiv's Party.
Plenty of nice ladies who wear next to nothing ?

Sounds the ideal place to me !!

Hi all.

Having read through most of the interesting bits, I have jumped in having raided the piggy bank.

I can afford to wait till 2006/7 and this looks a real winner.

not even Maurice Green runs like Des, we have momemtum guys, mid morning and the volumes are fantastic: Nearly 8mio traded. I have few points about des (all conjectures of course but sound ones and feasible I feel)

Morning Oily just got back from Dentist i see we have been hijacked over on other B@B so will probaly chat on this one or iii untill settle down ,got in from work yesterday and 281 posts on far to many to read all day traders?

Never seen so many trades in Desire going through so i can say the spotlight is well and truley on us now and news by end of this month of who is drilling with us.

DES falling back nearly as quick as it rose.

See you all later!

signed a spineless investor

semen...so you wouldn't be too happy with + 20% today plus 40% yesterday plus 35% the day before?
How do you grapes taste? Not too sweet?

You are a silly billy.

I missed that boat, but caught another.

I made +7 which is better than a poke in the eye with a sharp stick.

Price currently below my buy in.

Sometimes some things come in little packages, but then you know that!

No need to be rude.

Each to their own.

markymar

topped out at 70p today then fell back to 56p bid at close not surprising
as it has moved up (105%) in three days the highest mover on the whole
of the market,will probably be volitile over next couple of weeks,
over 18 million shares traded today wow,profit taking will obviously take place.
News of partnering and stratgy the company is going to take will certainly
keep the momentum in share price moving up over the mid term.
the upside could,sorry WILL be huge.How many baggers will this be ????


regards HUSTLER

Hustler

The report was better than i thought it would. Also in the interview with Colin Phipps said "We have some decisions to make over the next" So more news inside 30 days i would think of farm-in partners and the rest is not rocket science. Last time they went in drilling the high was about 4.50p so there is no reason why if they start drilling that it does not go to near those highs again.

At the moment we dont know what cut Desire will get from this Farm-in deal or does Desire go to its shareholders and the city for this money to drill....so a but there but will find out soon. maybe sooner than you think.

I dont realy have a figure untill you stick a hole in the ground and X amount of barrels are there.I know what price i might sell at but we have a long long way befor i will sell but may sell a couple of thousand when they are drilling.

And here is me a grown man not to belive in Santa i think i have been wrong there is a santa and we will fellow spivs have a good christmas.

Regard markymar

whats the opinions of tomorrow? definately down? no chance of a rise??

SEMEN... to each his own, good luck in all you do.
It's not a war,give peace a chance.
woftm

little willie

you forgot to sign of with ARMEN.
perhaps maggie got it right in the early 80ies i was priviliged to have a pass
onto the dockside at southampton to see friends off on the canbbera.
Not all came back.
The war was not about future oil prospects was it.
as for D4N13L so what if the price falls tomorrow what do you want more
than 105% in 3 days - look at the bigger picture wait and smile.

regards HUSTLER

ps just got back from the pub after celebrating a great 3 days not
trying to take sides just enjoy.

we shall not forget

poppies forever it may be red, blue it will turn poppies forever



and morning oily befor you beat me to it mate

can't you sleep as well marky
got to sign off now and try
keep in contact

regards HUSTLER

Morning, Marky. I see 'thatsmart' has a nice bit of info regarding a consortium of Chicago lawyers wanting to buy into our Company.

Thanks to ShallowGas on a competitorthread :-

This article from :-

http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2004/11/12/cxmktrep12.xml&menuId=242&sSheet=/money/2004/11/12/ixfrontmarkets.html

"Among the tiddlers, Desire Petroleum (named after HMS Desire which discovered the Falkland Islands in 1592) became the latest oil minnow to attract attention. The shares started the week at 28p, but Tuesday's announcement that it had found significant oil and gas reserves north of the Falklands Islands has propelled the stock northwards. It continued to rise yesterday, adding a further 7.5 to 57.5p."

Morning oily, another blue day i see and hope, i see you are meant to get snow showers up your way today, blowing a gale down this neck of the wood.