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

Interesting piece about rig availability on Harts e&pnet.com especially as it involves Peak Management.

As time moves on the share price has been stuck in a fairly narrow trading range for quite a while. People may be getting bored waiting and causing the price to drift off the last couple of weeks. The upcoming interims are hopefully going to give a boost with some information on the discussions about a rig and/or rig sharing. No point being too optimistic on that front but it would be helpful if there has been some progress.

Looking interesting again

The Chairman of FIH (Falkland Islands Holdings) reported at their AGM that FOGL's objective was to commence drilling in 2008 and rig options are being looked at.This is a clear indicator of the most likely time that any of the players,including Desire, in the region will drill depending still on rig availability and cost at that time.
DES meanwhile are slowly sliding backwards along with FOGL and are not likely to do a get deal untill closer to this time frame.

DES, FOGL & RKH all sem to be following a similar chart pattern over the last 3 months.
It will be interesting to see if this is repeated in an upwards direction when the first one strikes oil.

It would be interesting if it did'nt!

Always LOOKS interesting.

Time needs to pass.

Good board and good stalwarts posting, one day it will all be worth while I would expect.

Not holding currently.

I'm with you chav, I sold at 40p and waiting to get back in. I think the US and the world economy will slow next year and oil prices will fall. Some analysts think oil will drop to -$50. Maybe then there will be a rig available.

I sold same and likewise shall get back in maybe towards back end of 2007 when hopefully the price will be alot lower.$50 a barrel is still a very good price and only seems low because of the crazy high's of recent times,certainly still makes the FI'S an attractive prospect.Rig's will still be tight at that price unless new builds relieve the pressure.

Hopefully the latest positive share price moves herald a positive interim statement next week.

des is hovering around the 40p mark, nothing in any RNS that a rig is available or booked, and no drilling dates have been mentioned. Therefore since march 2005 a rights issue, and there holding your cash and return to share holders. we await for posative news but to no avail nothing will emerge this year, so i am out untill next year 2007.

http://www.falklandnews.com/public/story.cfm?get=4157&source=3

Desire Petroleum according to a report by Mrs. Phyl Rendell at the Mineral Resources Committee meeting held this afternoon, remains in readiness to drill and continues to work hard to secure a suitable platform to spud the three wells in their work programme. She added that they also continue to work closely with the Department of Mineral Resources and the Falkland Islands Government consultants, British Geological Survey (BGS) in preparation for drilling. Desire Petroleums consultants, one of which is Peak Well Management, are giving their attention to work needed before the first well is drilled.

Rockhopper Exploration has contracted a French company, CGG to carry out a 3D seismic survey starting in October. This will be carried out by a six-streamer seismic survey vessel and a chase boat. The area of survey will be in the north of the North Falkland Basin well north of the Illex fishery in the old Shell acreage. It is expected to take several months to complete the survey.

Phil Rendell is also Director of Agriculture which runs more on optimism than reality!

the deal is going down................we see

Still no rig available according to the update today...not for the foreseeable future.

No no rig and intrims indicte a loss,thus price of Des down by 3.5p. no surprise there, or untill 2007 if your lucky.

Desire slips into loss, farm-in talks continue
Mon 25 Sep 2006

LONDON (SHARECAST) - Desire Petroleum slipped back Monday as the Falkland Island focused oil explorer said it has yet to find a farm-in partner with access to a drill rig, although talks are ongoing.

The companys new strategy is aimed at identifying potential farm-in partners with access to drilling rigs suitable for resuming drilling in tranches C and D in the North Falkland Basin.

This strategy is now well under way and the group said it has contracted investment bank Tristone Capital Ltd to help widen the search for a suitable partner.

Although no agreement has yet been reached, discussions with several potential partners are continuing, it said.

These discussions are complex and take time, especially as all potential partners wish to undertake their own detailed interpretation of the data.

Due to the continuing high oil price, rig availability has not improved in the last six months, it said, with the strategy of seeking potential partners with rig availability being the only one likely to result in an early resumption of drilling.

On the financial front, the loss after tax for the six month period ended 30 June was 1.68m versus a 0.73m profit a year ago, almost entirely due to currency exchange losses.

Most of the company's funds are held in dollars, to match anticipated expenditure on future exploration programmes.

The strengthening of the pound against the dollar since the year-end has had the effect of unwinding much of the currency exchange gain made in 2005.

http://www.oilbarrel.com/home.html

26.09.2006
Tullow Oil Makes 581 Million Bid For Hardman Resources In What Looks Like A Vote Of Confidence In Ugandan Exploration Project

Likewise, DES & RKH, no drilling rigs yet available?
Absolutely no news updates recently that I can find.

Not since the interims on Monday, no.