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

http://news.bbc.co.uk/1/hi/business/6571431.stm

Snips long article

If you believe the oil men, the inhabitants of the Falkland Islands could soon become among the richest people in the world.

In the year in which the islands commemorate the 25th anniversary of Argentina's invasion, a handful of exploration firms believe they are on the verge of striking it big.

Later this year, they hope to begin drilling in the South Atlantic ocean bed surrounding the Falklands to prove once and for all that the region is rich in oil reserves.

Striking oil would no doubt transform the small and remote British territory, which currently relies on fishing and sheep rearing for most of its income.

If successful, the island's population of about 2,800 would be propelled into the major league of oil producing nations.

"It could make the Falkland Islanders the richest people in the world per head of capita, much more so than in places like Dubai," says Colin Phipps, chairman of oil exploration firm Desire Petroleum.

But while the islanders are taking a keen interest, they've heard it all before.
........

"We could be looking at 5 to 6 billion barrels of reachable oil, with a potential value of $50bn (25bn)," says Desire Petroleum's Mr Phipps.

"That would have the most incredible effect on the Falklands economy. It would also have a huge effect on UK Plc, especially with North Sea oil declining."

A respected oil industry expert and former UK politician, Mr Phipps stresses that the islands potential oil wealth has yet to be seen.

But he is keen to get on with the job.

"Desire is the closest to drilling. If we could get a rig we would drill tomorrow."

......

Phil Richards, of the British Geological Survey, estimates that there is a one in five chance of finding commercially viable oil in the basin north of the Falklands, falling to a one in 10 chance in the south.

From the "UPS" thread .............Analysis selection for DES

DES price 26.50p

About 5 times the usual last Friday with large trades at the end of day

Bouncing from long retracement on what seems a double bottom and Indicators on the rise from oversold

Expectations of a deal for a rig soon in the South Atlactic Falkland Basin, is allways on the investors minds after a long wait

Seismic work completed in the basin were is believed to hold in excess of 2 billion barrels of oil in place it holds 5 tranches in the area

http://business.timesonline.co.uk/tol/business/markets/article1695921.ece

Rockhopper Exploration was ahead 1p to 43p and Desire Petroleum gained 1p at 28p amid fresh talk about that Woodside Petroleum, of Australia, could invest in a deal to explore their prospects in the Falkland Islands.

HA HA!!!

Taken from finals today

Consortia and farm-out agreements

In addition to holding licences on its own account, the Group is a member of
consortia. As explained below, the Group's proportionate share of the consortia
costs are included in intangible fixed assets. During the year, the Group
continued a farm-out agreement with a third party in respect of certain
licences. The Groups proportionate share of the costs is included in intangible
fixed assets

Rockhoppers cann't fly and cann't run very quick.

great input off you Chav

DES are never going to drill before the rest are ready in the area.To do so would be bad economics as the cost of getting a rig to the F.I.,s and back is prohibitive and would reduce considerably the amount of money available per holes drilled.Sharing the rig cost with the rest would mean that DES could afford to drill an extra hole maybe or not have to drill one less.This would still be true if DES,RKH + another jointly funded the DES trances.I would rather they waited and utilized the available funds to best advantage.

Des are experts at waiting Chav, so no problem there.

Unlike BLR etc DES have the possibility of a very large pot of gold at the end of the rainbow rather than a piece of lead!!

Minsec could tempt risk-takers
Brian O'Connor, Daily Mail
8 May 2007

The market has hundreds of small mining companies, with exotic names and exotic projects in the mountains of China or the deserts of Africa.



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Now some seasoned mining punters are putting two exploration vehicles - Aim-quoted Scarborough Minerals and Australia's Mineral Securities - together in the hope that diversity will bring strength.


Scarborough itself was formed from a three-way merger of two Australian miners with Greenwich Resources, a gold mining wannabe linked with former Labour MP Colin Phipps. Scarborough is chaired by Robert Champion de Crespigny - an Aussie accountant and mining financier who now lives in the UK - and Minsec by Keith Liddell, who used to run Aquarius Platinum.


Minsec is making an all-share offer, giving Scarborough investors 55.7% of the enlarged Minsec group, chaired by de Crespigny with Liddell as chief executive, and a board including former Aussie cabinet minister John Moore and Sir Bruce MacPhail, formerly of P&O.


When the deal, and some related asset sales, are completed in June or July, Minsec should have a 30m cash pile. Should you care? All depends on the quality of Minsec's portfolio, ranging from gold exploration in China to copper and zinc in Australia.


The star is its 16% stake in Platmin, which has four platinum projects in South Africa near the Aquarius mines Liddell used to run. He claims it has the ability to produce 600,000 ounces a year and calls it 'Aquarius on steroids'.


This is big talk, since Aquarius's value has soared eightfold since 2005 to 1.4bn. Platmin is not due to produce until 2009, but its shares have risen 50% in six months and Minsec's stake, which cost 12.5m, is valued at 52m. That is half of Minsec's market value. The rest of the portfolio pales somewhat in comparison. Tianshan Goldfields in China (30% owned) could become a mine in 2009. CopperCo in Australia (19%) should be in production by mid-2007.


The Greenwich Resources connection gives Minsec 2.3% of Desire Petroleum, a Falkland Islands hopeful whose shares once soared, then subsided. Getting a drilling rig to the far off Falklands is a problem. Desire's half-year report tells us: 'Apart from the lack of a rig, all the most important steps to resume drilling are now in place.' Even at $65 crude, the Falklands remains a long shot. Should you be tempted to have a punt on Minsec? On the plus side it offers a spread of investments, which reduces risk but makes it hard to track. But you need to watch mining deals to make sure they are not simply lining the dealmakers' pockets.


Minsec has been adept at floating new prospects, which essentially means raising money. The problem for investors is to pick something that will actually pay them back. Liddell says: 'Our team of geologists and engineers looks at about 300 projects a year, and picks two to five early-stage ones where you can make five or ten times your money.'

Both Scarborough and Minsec are loss-making. He aims to use the new group's cash to buy in earnings. If he issues more shares, this will dilute present investors, but Liddell says: 'This is the last thing we would do.'


Scarborough shares, over 1 two years ago, closed at 54p on Friday. Aussie-quoted Minsec has doubled in that time to A$1.75 (around 72p). To buy into the merged group now, you could buy into Scarborough and accept the offer. To avoid the paperwork, wait until the deal is done. If you do buy, set a stop loss at 20% below your entry price.


Buying is a gamble on Liddell repeating his Platmin success with other ventures. This is high-risk stuff, for punters only. But at least your risks are spread over a series of projects.

Strong stirrings today, up 11.5%. Surely this couldn't be in anticipation of a rig announcement?! :-)

Let's hope so. But RKH not moving and FOGL's gone down.

But BOR up last couple of days.

Can't see DES and BOR doing it on their own though.

So maybe it is just specualtion ahead of the AGM.

I expect so - it has been for a couple of years now :-(

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

BUY
CONFIRMED

I see in todays Penquin News that DES are starting a 2D survey tomorrow.

Post the story Chav

It's in there as a notice for shipping etc.The P.N.'s comes as a Pdf file and I can'nt quite work out how to highlight and cut without selecting all which is alot of other general news.

DESIRE PETROLEUM PLC
SEISMIC SURVEY INFORMATION NOTICE
Desire Petroleum plc will acquire 2D seismic data in North Falklands Basin
commencing on 03 June 2007. The survey will be undertaken by the seismic
survey vessel Bergen Surveyor, radio call sign LACS5 (LIMA ALPHA CHARLIE
SIERRA FIVE). Depending on prevailing weather conditions the entire data
acquisition is expected to take around 15 days to complete.
The seismic data will be acquired at four site specific locations. The acquisition
priority listing and site specific coordinates are as set out below:
From time-to-time and for operational reasons the survey vessel may manoeuvre
outside the above limits.
Bergen Surveyor will be towing a single 1500 metre streamer submerged to a
depth of around 3 metres. The end of the streamer will be marked by a floating
buoy fitted with a flashing white light. The vessel has a red painted hull and a
beige painted superstructure.
The Bergen Surveyor is to be given a wide berth by all other vessels.
Vessels shall not pass within 2000 metres astern or 500 metres abeam or
forward of the Bergen Surveyor. Securite messages will be broadcast twice
daily by the Bergen Surveyor at 09:30 hours local time and 21:30 hours local
time on HF radio 4066.1kHz. Fishing vessels working in the vicinity of the
survey area should maintain a good listening watch on VHF radio Channel 16
at all times.
Lewis Clifton, Fisheries Liaison Officer
1. Ann Prospect Site Survey
Point Easting Northing Latitude Longitude
NW 543318.10 4530128.00 49 22 48.025 S 059 24 11.529 W
NE 547318.10 4530128.00 49 22 46.954 S 059 20 53.152 W
SE 547318.10 4526128.00 49 24 56.473 S 059 20 51.437 W
SW 543318.10 4526128.00 49 24 57.546 S 059 24 09.959 W
2. Tie-line Site Survey
Point Easting Northing Latitude Longitude
SOL 545729.90 4511369.48 49 32 54.785 S 059 22 04.116 W
Ann A 545318.00 4528128.00 49 23 52.260 S 059 22 31.520 W
Ann B 545270.00 4520900.00 49 27 46.316 S 059 22 30.935 W
EOL 544668.74 4537362.84 49 18 53.407 S 059 23 07.465 W
3. Dawn Prospect Site Survey
Point Easting Northing Latitude Longitude
NW 559447.50 4456914.10 50 02 13.565 S 059 10 11.498 W
NE 562447.50 4456914.10 50 02 12.459 S 059 07 40.703 W
SE 562447.50 4453914.10 50 03 49.582 S 059 07 38.942 W
SW 559447.50 4453914.10 50 03 50.689 S 059 10 09.822 W
4. Ruth Prospect Site Survey
Point Easting Northing Latitude Longitude
NW 571210.30 4411644.00 50 26 34.416 S 058 59 49.635 W
NE 574210.30 4411644.00 50 26 33.077 S 058 57 17.561 W
SE 574210.30 4408644.00 50 28 10.189 S 058 57 15.421 W
SW 571210.30 4408644.00 50 28 11.529 S 058 59 47.581 W

LOL Chav, old yokahama fenders needs to get her act together or pick up a penguin.

"Bergen Surveyor will be towing a single 1500 metre streamer submerged to a
depth of around 3 metres.

Phipps said substantive but this looks like high resolution to me.