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

DIRECTOR OF MINERAL RESOURCES REPORT FOR 21 FEBRUARY 2008

By Phyl Rendell

Borders & Southern Petroleum 3D Seismic Survey

Borders & Southern Petroleums 3D seismic survey was completed on 13 February 2008. PGSs survey vessel Ocean Explorer came to Stanley for a final crew change on the weekend of 16 February and will shortly leave the area along with their chase boat Amber G. The survey took a total of 108 days to complete and the data obtained covers an area of 1492km. A Marine Mammal Observer on board the vessel reported 102 separate marine mammal sightings including one of 2 Blue Whales on the 19 January. Seismic Data interpretation ongoing.

Desire Petroleum and Rockhopper Exploration have been working on seismic data interpretation. Rockhopper Exploration now has a large 3D data set covering their northern blocks and report that following processing, interpretation work is revealing potentially encouraging hydrocarbon indicators.

Desire Petroleum has well site survey data having utilised the Wavefield vessel Bergen Surveyor, to acquire the data in December. Desire Petroleum is now a step closer to being ready for drilling when rig availability improves. BHP Billiton took over operatorship of Falkland Oil & Gas Ltds licences in the South Falkland Basin on 1 January. BHP now report on exploration progress to the Falkland Islands Government. A visit to the Islands by a team of BHP representatives is proving difficult to organise due to flight availability and all the key players being free to travel on a given date. Unlike our other licensees, BHP has a multiple exploration programme world wide and their staff need to be available to work on a number of projects. BHP will however be represented at a Joint Operators Meeting to be held on 7 March at BGS in Edinburgh and FIG will have a separate meeting with them on 6 March.

Environment Impact Assessment Activities

Rockhopper Exploration, Desire Petroleum and BHP Billiton are actively preparing EIAs for their licensed areas in preparation for drilling.

Oil Meeting and Marketing Events

A Joint Operators Meeting (JOM) has been arranged at the British Geological Survey offices in Edinburgh on 7 March. The Director will attend and will also meet with individual companies to get an update on their programmes of work.

The American Association of Petroleum Geologists (AAPG) convention is to be held in San Antonio, Texas from 20 to 23 April. FIG will have a stand in the exhibition hall in order to promote the Falklands as an oil exploration area. It will also be an opportunity to meet other oil companies and follow up on any business with BHP Billiton who operate the Falkland licences from their Houston office. Falkland Gold & Minerals Ltd cease exploration activity FGML are in the process of closing down their operations at Goose Green. The company has met all its obligations and has supplied FIG with an excellent geological data set. FIG will continue to have a dialogue with FGML until the expiry of their licence in 2009.

The core from drilling activities will be retained by FGML at Goose Green until the end of the year. It has considerable scientific interest and it is proposed that some of the geologically significant material will be preserved long term for research purposes. Dr. Phil Stone from BGS visited the Islands at the end of January to advise FIG on FGMLs data reporting and the future of the core that would have specific interest to future research.

Desire Petroleum plc
('Desire' or 'the Company')

Temporary suspension

The Board of Desire Petroleum plc has today requested a temporary suspension of
trading in the Company's shares on AIM. This suspension has been requested
pending an announcement, expected to be made later today, at which time trading
in the shares is expected to recommence.

For further information please contact:

Seymour Pierce
Jonathan Wright 020 7107 8000

just hope it's a rig

could they have secured a rig?? Markymar - your million might not be far off! or could there be a problem with the co? uhh oh - anyway guess we'll know later today

markymar - like the desire football team

Rob i expect good news later today!

CO is ok

Desire Petroleum PLC
25 February 2008

Desire Petroleum plc
('Desire' or 'the Company')

Farm-in agreement

The Board of Desire Petroleum plc is pleased to announce that it has accepted
the terms of an offer from a significant party to farm-in to three of the
eighteen exploration prospects identified by Desire in the North Falkland Basin
and currently carried in the Company's prospect inventory.

The farm-in remains subject to certain awards and approvals by the Falkland
Islands Government which are being applied for and a further announcement,
including the final terms of the farm-in, will be made once the necessary awards
and approvals are in place.

If successfully approved, the farm-in will involve the drilling of two
exploration wells, including the mobilization and demobilization costs
associated with the two wells, at no cost to Desire.

At current rig rates, in addition to the two wells above, Desire has sufficient
resources to be able to drill two wells for its own account in the North
Falkland Basin. Thus, in combination with the two-well commitment entered into
by BHP Billiton south of the Falkland Islands, there is now the potential to
hire a rig for a minimum six-well drilling programme, thus defraying
mobilization/demobilization costs for all parties. Desire continues its efforts
to hire a suitable rig in partnership with all of the other companies involved
in Falklands exploration.

Given the size of Desire's exploration inventory, the Company may seek other
farm-in partners for other prospects, in addition to any wells drilled for its
own account, and further discussions, which may lead to additional farm-ins, are
under consideration.

For further information please contact:

Desire Petroleum plc 020 7436 0423
Dr Ian Duncan, Chief Executive Officer
Stephen Phipps, Non-executive Director

Seymour Pierce
Jonathan Wright 020 7107 8000

Buchanan Communications 020 7466 5000
Ben Willey
Ben Romney

Ho Ho Ho

Old Pugwash is flying now.

Sounds like we have got a good deal Capt, tally ho! shell ..shell


"It also said it may seek other farm-in partners for other prospects, in addition to any wells drilled for its own account, and further talks that may lead to additional farm-ins, are under consideration."

Excellent News - onwards and upwards should be a premium tomorrow after it hits the papers

Yes good news robstuff , now who is the partner and what % of the prospects,

I also think that when one partner sighs more will follow and sigh up

Nearly 5 and a half million shares traded in 1 hour,will be a intresting day tomorrow

squirrel2005 i hope you still holding.

http://www.smallcapnews.co.uk/article/Desire_Petroleum_finds_a_farmin_partner/4549.aspx

Falklands oil drilling prospects boosted by Desire Petroleum

http://www.mercopress.com/vernoticia.do?id=12724&formato=HTML


A poscard from the Falklands in the near future?

Desire Petroleum, the oil explorer with a field north of the Falkland Islands, jumped 12p to 46p after it signed an outline farm-in agreement with an oil producer, rumoured to be BHP Billiton, which has already signed a similar deal with Falkland Oil & Gas, up 6p at 126p. Rock-hopper Exploration, which has assets in the area, gained 4p at 56p and Falkland Island Holdings rose 42p to 372p.


A snippet in the telepraph:
Desire Petroleum, one of several Aim companies prospecting for oil in the Falkland Islands, surged 12 to 46p after it signed a farm-in agreement with an as-yet unnamed partner


Snippet in the Financial times:
Desire Petroleum , the Falkland-focused oil and gas exploration company, surged 35.8 per cent to 46.5p after it announced an agreement with a third party which could lead to the drilling of two new exploration wells.

Why would it need approval? and what do the awards refer to?

"The farm-in remains subject to certain awards and approvals by the Falkland
Islands Government which are being applied for and a further announcement,
including the final terms of the farm-in, will be made once the necessary awards
and approvals are in place."

can anyone shed any light on this statement, thanks

The only thing I can think of, is an application for a new or transfer of an exsisting licence. + Operator approval by the FIG.

"significant party" ?? individual, group, or company??

I look forward to a significant party myself, I wonder who the Party chief will be.

Ooopps forgot,

An extension of the time frame a licence is valid for.

Really disappointed to see the SP reaction today. I was expecting an awful lot more!

well the big question is how much have they given away so until that is known it's difficult to place a value on the sp

Its looks to be a fantactic deal when you think about it,FOGL gave away 51% on there deal we have given 3 prospects up and we might still hold a percentage in them as well,knowing phipps we will.

Capt how much you think that deal is worth to us 50 mill or more? to get a free carry in two holes is fantactic news.

$ 64 million dollar question Markymar