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

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

following the good news the SP has shot up, when the news wears off and the SP settles where do we think it may rest?
I realise this is a 'crystal ball' type question but anyone care to speculate, ie does anyone think it will retrace to 34p where the jump occurred or somewhere in the middle because of the farm-in?
Alex

Last July FOGL was about 80p. News of a possible farm in pushed the price to about 180. It then fell back to near 90 before recovering to 120 in the light of recent news from the Falklands. I think all the Falkland explorers are in for a bumpy ride but with an upward trend based on news flow over the next 3 months, but DYOR.

Robert Alexanderhow long is a piece of string question, I think it depends if your happy keeping what shares you have and holding and what price target you see at the end of the day your happy to sell at.

34pthe deal I see at moment is a fantastic deal and we dont know the full out come as yet but a strange one as I have not come across it before, but a deal got to be worth 30 million in my eyes easy capt stick your 2 p worth in this is more down your street its a cracking deal when you look at FOGL giving away 51% for nearly the same deal


robertalexander where do you see this share in 1 year? 2 years ?

If FOGL is the benchmark, Then Des looks cheap - at least 10% based on Mkt cap. Guess more info is required, particularly the party to the farm-in. Can't see it taking too long to get the statutory approvals, the FI govt will be just as anxious as everyone else to move this along.

Seymour Pierce have reiterated DES as a BUY/STRONG BUY as of yesterday

Markymar

Depends on rig availibilty. When drilling starts they will be up and away but how soon will that be? [another crystal ball question i fear.] I am not very good at holding shares for any length of time[though i wish i would].

i am not a holder but have all of these FI assoc oilies on my watch list and am biding my time but trying not too miss the boat

Alex

DESIRE is the one though, the North Basin has all the oil, the others are higher risk.

robertalexander

I wish I could give you an answer to when we will drill, the only definite thing which stands out is FOGL who has sighed an agreement with BHP to drill the minimum of 2 holes within 3 years and worst case is we have to wait 3 years to share the rig with FOGL.
FOGL might be ready to drill at the end of this year. Who knows?


Another thing worth pointing out here is the meeting which is to be held in Edinburgh, as long as am aware all Falkland oil companies will be there and BHP and maybe some other companies and I suspect we will get and update within the next 10 days, So I fear you may miss the boat

http://www.sartma.com/art_5023.html

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 share price hit 4.45p at its height here is a story from back in 1998 and the share price was said it could hit 42 ,am not a greedy man so if anyone wishes you can have my shares for 40

http://www.thisismoney.co.uk/news/article.html?in_article_id=393501&in_page_id=2&in_a_source=

Another story I like was last years which is a good read; its the 25 billion it could be worth

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


Rob lets see your calculation on the share price

A good sign of some 1 in the know.



RNS Number:9062O
Desire Petroleum PLC
28 February 2008



Desire Petroleum plc
(the "Company")

Director Shareholding

The Company was notified on 27 February 2008 that Byron Holdings Limited, a
company of which Lewis Clifton, a non-executive director of the Company, is a
director and shareholder, acquired 200,000 ordinary shares in the Company at a
price of 53.125p per share on that date. Following this acquisition, Mr Clifton
is beneficially interested in 1,612,500 ordinary shares in the Company,
representing 0.7 per cent. of the issued share capital of the Company.