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

have they just loined SETS? can't understand why so many ATs - institutions buying and selling now like its a blue chip.

Now a month since the farm-in announcement. Further news ought to be imminent.

Well that meeting of the Executive Council is today so we might hear some thing in the near future.

http://www.falklandnews.com/public/story.cfm?get=4890&source=3

LOCAL DEVELOPMENTS:

Several suggestions have come in as to who Desires farmin partner is. At the moment we await Executive Council where there might be a clue as to who this partner is. HDR wont be speculating as it could lead to that all important deal falling through. We wont be holding our breath either.

Westmount Energy Limited
26 March 2008

PRESS RELEASE

WESTMOUNT ENERGY LTD: INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2007

Snipet from interims

Our last remaining holding, and indeed the very first investment made by our
late Chairman Derek Williams, Desire Petroleum Plc is at last moving towards a
drilling programme in the Falkland Island Basin and they announced in February
2008 that a Farm In agreement has been signed with a major oil company to drill
two wells. This is extremely encouraging news and has been reflected in the
increase in the Desire share price which we took advantage of and sold 300,000
ordinary shares at a price of 77.79 per share. We await further news on this
development.

It remains your Board's intention to realise value from the investment portfolio
as and when the opportunities arise, and to return capital to shareholders.

Mervyn Bradlow

Chairman

26 March 2008

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

BUY
CONFIRMED

http://www.falklandnews.com/public/story.cfm?get=4894&source=3

Speculation is ripe that Oil Company representatives will be visiting the Falklands in May to discuss logistics for the up and coming drilling round. Nothing is firm but HDR will keep an ear to the ground.

However, even attracting a
farm-in partner can provide a
boost to a share price. Falkland
Oil & Gas rocketed after it
announced it was in talks about a
farm-in agreement with major
resources company (eventually
revealed as BHP Billiton (BLT))
last July up more than 50% in
the course of a single day.
Although, interestingly, when
the details were confirmed that
old adage about buying on the
rumour selling on the fact came
to mind, as the stock retreated.
When fellow Falklands explorer
Desire Petroleum (DES:AIM)
announced earlier this month
that it too was in talks with an
unnamed partner it also saw its
shares take off.
Of course the Falkland Islands
are something of a special case.
For quite some time the
companies looking for oil therewere dismissed, not unfairly, on
the basis that they would never
be able to get a rig to the region.
The mobilisation costs alone
were potentially astronomic,
perhaps as much as 30 million
and that supposed that a rig
contractor could be persuaded to
make the journey to the south
Atlantic in a tight rig market and
with plenty of work available in
less remote regions. The arrival
of BHP Billiton has made drilling
far more likely in fact the
company has entered into a
commitment to drill two wellsthat some drilling will take place
next year.
There is another reason why a
farm-in attracts buyers.
Effectively it serves as a seal of
approval on the companys
assets particularly if the partner
is someone of the profile of BHP
Billiton. If a firm with that level
of credibility is prepared to
invest it inevitably boosts
confidence in the prospects of
eventual success.
Ultimately, as discussed
above, if you can judge the
quality of a companys assets
you can judge the quality ofcompany. Obviously having a
good management team helps,
as does a good track record and
strong financial backing. But at
the end of the day what really
matters is the oil or gas in the
ground for a number of firms
a farm-out, at one end of the
scale, or a takeover, at the
other, can be a good way of
realising value.
And in order to tap into the
potential excitement generated
by asset trading we have
sought to identify companies
which have large equity
positions in projects attractive
enough to snare a bidder or
attract farm-in interest.

From Shares mag.

DES Desire Petroleum PLC '' 77.50 78.00 79.00 74.50 74.50 -3.87% SELL-IF

British Bulls

http://www.mercopress.com/vernoticia.do?id=13052&formato=HTML

Will UK demand hydrocarbons income from the Falklands?

Of course the cost of the war has to be recovered.

Strong momentum today along with RKH and BOR. Bodes well for further possible rises.

http://momentum-trader.co.uk

Very strong today, must be news soon. check BB on www.iii.co.uk some very good posts on it

Nice tick-up today :>)

http://www.forbes.com/forbes/2008/0505/042a.html

OutFront
The Falklands. Again?
Christopher Steiner 05.05.08

Argentinean President Cristina Fernandez de Kirchner recently proclaimed her country's right to the Falkland Islands "inalienable." These would be the same Falkland Islands that Margaret Thatcher snatched back for Britain, embarrassing Argentina, after Kirchner's country invaded in 1982. We all understand the occasional bout of nationalism, especially when it comes from a head of state in South America, where that seems to be the going shtick. The real question: Why the heck does Kirchner, or anyone, want the Falkland Islands? We've ranked theories for plausibility, from 1 to 100 points.

1. She's hoping to prove that the Falklands wolf, a species last spotted in 1876, is still around. 1 point.

2. Kirchner wants to establish an economic think tank and tap the brainpower on the islands. The resident population consists of doddering British expats who wear tweed and herd sheep. 2 points.

3. She's after those rabble-rousing runts of the Falklands, the Macaroni penguins, whose heads are adorned with yellow feathers, much like Yankee Doodle. 2 points.

4. Kirchner is preparing for her exile once her government gets overthrown by soybean farmers who roiled international markets with a March strike after Kirchner jacked export taxes above 40%. 5 points.

5. There's oil--conceivably 60 billion barrels beneath the Falklands and surrounding seas. Even if the economically recoverable quantity is only 10% of this total, it's interesting. Six exploratory wells were drilled in 1998, and they exposed rich source rock in the north end of the Falkland basin. Desire Petroleum, a British firm, is preparing to explore further but is hindered by the scarcity of floating drilling platforms, almost all of which are far from the islands and can cost $4 million a week to operate. Perhaps Royal Dutch Shell (nyse: RDSA - news - people ) now regrets pulling its interests out of the Falklands a decade ago when oil was dirt cheap. 90 points.

North Falkland push shifts up a gear

By Upstream staff


UK junior Rockhopper Exploration said it is moving into the last phase of preparations before kicking off a drilling campaign in the North Falkland basin.

We have identified a number of targets in PL032 & PL033 on the 3D seismicwhich are sufficiently low risk for us to drill in addition to the Ernest prospect and we are waiting to see what the interpretation of the new 2D over Weddell shows us, said Rockhoppers chairman, Pierre Jungels.

The outfit has hired SPD Group to carryout a range of well engineering services, while at the same time Thompson Knight Global Energy Services has been appointed to assist in its drilling farm-out campaign.

The company has also hired RPS Energy to undertake an Environmental Impact Assessment (EIA) on licences PL032 and PL033 in preparation for drilling. The EIA on licences PL023 and PL024 is already in progress.

CGS Veritas has been commissioned to reprocess the short offset 3D data over licences PL032 and PL033.

Following the reprocessing and evaluation of this data and completion of the EIAa, the company expects to be ready to drill two to four targets across its acreage.

These two to four wells, when added to the four wells to be drilled by Desire and its partner result in a potential eight well campaign in the North Falkland basin.

Rockhopper estimates that the acreage licensed to them may contain over 3.5 billion barrels of oil.

Sorry but I missed the name of their drilling/farm out partner?

The partner is still a mystery halifax. All will be reveiled in time!

Fair enough but why the delay in making the disclosure? What matters is that their partner has sufficient cash resources to fund a very expensive drilling programme. FOGL has already achieved this by partnering with BHP.

They need the nod from the Falklands Government before it's a go.

Halifax i hope you read the bit about the possible 8 holes drilled in the NFB,news before the end of the month.