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

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.



OTHER STORIESMarket report: Wednesday close
Yesterday's trading: Microsoft eyes Blinkx
Market report: Tuesday close
Sunday newspaper share tips
Market report: Friday close
FTSE LATEST6549.60-0.80

VOTE NOWThe FTSE hit 6400 by April 2007. Will it beat its record 6930 by year-end?


Yes
No
More polls

RISERS & FALLERS Check the latest on shares in market data and don't miss the top 25 stock market winners and losers.
LATEST SHARE TIPS>> Small cap experts
>> Latest Midas
>> Mid-week papers
>> Investment extra
>> ALL SHARE TIPS
HOW TO PICK AN ISA Find out all you need to know about cash and equity Isas. Check out This is Money's definitive... Isa advice
SHARE DEALING Buy and sell shares for a flat fee of just 12.50 through our brilliant share dealing service.
>> Share dealing

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.

Thanks Chav thats very good news to hear and would explain why rise in share price maybe i wont start jumping up and down yet but very good news.

LEGISLATIVE COUNCIL MOTION OF THANKS SPEECHES
http://www.sartma.com/artc_4219_ALL_3.html

Of course Desire Petroleum are still looking at securing a rig. And, I appreciate this must be entirely frustrating for them but we, at least are sitting, watching and waiting with them. They have ticked all the necessary boxes, including providing an excellent environmental impact assessment. So, we look forward with them to their progress.

so no rig then. Faintly amusing comment about the excellent environmental impact assessment. Certainly thus far there has been zero impact apart from the occasional flight out there!

I admire your persistence marky.

Quite amusing the excitment on ADVFN over this sort of non news and scrabbling for shares,easy to see why they spike every now and again on nothing.

http://www.oilvoice.com/Desire_and_Rockhopper_Commission_Environmental_Assessment_Ov/9766.htm

Desire and Rockhopper Commission Environmental Assessment Over the Southern Part of the North Falkland Basin

http://www.newratings.com/analyst_news/article_1543833.html

Desire Petroleum "hold"

Monday, June 04, 2007 7:43:44 AM ET
Seymour Pierce

LONDON, June 4 (newratings.com) - Analyst Jon Dunningham of Seymour Pierce Research maintains his "hold" rating on Desire Petroleum (ticker: EYX).

In a research note published this morning, the analyst mentions that RPS Energy has been appointed by the company to carry out an environmental impact assessment for its North Falkland Basin-based operations. The successful approval of the assessment is required for carrying out drilling operations offshore of the Falkland Islands, the analyst says.

By the way,Lewis Clifton is one of the directors of DES.

Whoops,No rig in sight lets dive dive again!!

Chav last time they had a site survey they were drilling within 6 months of it been done.

I hope you are right since I got back in last week,but I have my doubt's.