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

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.

FOGL sp dropping like a stone!

Global rig demand eases

By Upstream staff


Worldwide offshore rig demand fell by one last week while the number of available rigs fell by the same number, ODS-Petrodata Group's weekly survey showed today.

Worldwide rig utilisation rose to 91.3%, with 597 rigs under contract out of a fleet of 652.

In the US Gulf, 119 rigs were under contract out of 145, with utilisation at 82.1%.

In Europe, utilisation was at 97.9%, with 94 out of 96 rigs in use, Reuters reported.

http://www.bodecott.com/picture.php?domain_name=bodecott.com

http://www.bodecott.com/picture.php?domain_name=bodecott.com

That's awfully enlightening Capn.

Aye Aye,

http://www.investegate.co.uk/Article.aspx?id=200610180700366250K


(Rockhopper update)

....New 3D seismic acquisition programme
Our 3D seismic programme with CGG Marine in licences PL032 and PL033 will now
begin at the end of October, some 2 months earlier than anticipated. This will
accelerate our work programme and could lead us to have a number of additional
drillable targets by the middle of 2007. At that point, we will be ready to join
any drilling programme in the Falkland Islands subject to funding....

Falklands-Malvinas
Saturday, 21 October


Falklands offshore survey to increase oil drillable targets



Rockhopper Exploration plc begins this Saturday (October 21) a 65-day, 3D Seismic Survey, in the South Atlantic North Falklands Basin with the purpose of increasing its drillable targets in the area.



The 3D seismic survey will be undertaken in an east-west direction by the survey vessel CGG Laurentian that will be towing 6 x 6000 meters long seismic streamers with a total deployment width of 600 meters.
Earlier in the year Rockhopper Exploration announced that data from Controlled Source Electromagnetic Surveys (CSEM) carried out by Offshore Hydrocarbon Mapping plc, when superimposed with acquired 2D seismic data, provided greater clarity of the structures surveyed and significantly de-risked the acreage.

We now have a highly de-risked drillable prospect and a number of encouraging leads reported the company at the time adding that the drillable prospect named Ernest, if successful could contain over 100 million barrels of recoverable oil.

Prospect Ernest was described by Rockhopper Exploration as a relatively low risk independent 4-way dip closed structure in 160m of water only 100km from the Islands.

Combining all the data and using fairly conservative assumptions leads us to believe that Ernest, as mapped to the less risky four way closure, could contain approximately 312 million barrels of oil, of which approximately 100 million could be recoverable.

The Expected Monetary Value of prospect Ernest, given the reduction in risk combined with a higher oil price environment has increased prospects of success and with an estimated 100 million barrel recoverable field at an oil price of 50 US dollars per barrel, is in the range of a billion US dollars, and should oil price fall to 30 US dollars, in the range of 323 million US dollars.

The 3D program which according to Rockhopper Exploration is advanced by an estimated two months will accelerate our program and could lead us to have a number of additional targets by the middle of 2007

At that point, we will be ready to join any drilling program in the Falkland Islands subject to funding.

The dark blue hull and white superstructure CGG Laurentian has a dark blue painted hull and a white superstructure and will be accompanied throughout the survey period by the Chase Vessel Brodospas Ibis with a green painted hull and a white superstructure.

Vessels operating in the area are requested not to pass within 10 kilometers astern of the CGG Laurentian, or within a 3 kilometer corridor along either side of the width