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

Interesting angle on things, Nambu.
Admittedly none of these explorers have conclusively found oil yet, so the sp has been hyped up on the weak $, high crude price & hope. Also, it will be interesting to see how the sp holds up when they start to drill, as the strike rate is not going to be 100%. Dusters (or the equivalent subsea) will knock the sp down, but good for the active traders though. Maybe the safer plays are the ones with huge backing from the oil majors?

All good points HARRYCAT but I think a prediction of 20p is taking a huge gamble that oil is NOT under the sea in the Falklands. You'd have to be very brave to short DES IMO.

I hold this stock, so 20p would be very bad news & I think unlikely in the near future, hence I am still holding. But it does beg the question as to what the valuation of DES 228.8m shares is based upon. I am assuming the answer is estimated, untapped reserves @ $130 per barrel?

I recollect this valuation of Heeley as being of months back - before news of the possible farm in. How can you make a new valuation without knowing the terms of the buy in?
The new partner will have access to a lot more information than Heeley and the eventual deal will show how good it rates the Des assets. Only then can a short term price be set, that could be blown out of the water once drilling commences.

http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/05/27/ccseas127.xml

Oil crisis triggers fevered scramble for the world's seabed
Last Updated: 10:49am BST 27/05/2008

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

BUY
CONFIRMED

Buy failed, according to bb bullsh**, But I see those clever people have managed a 2000% increase since 2006. Why does anyone take them seriously!

britishbulls is pish, marky.....if thats how u want to waste your life then so be it

http://www.mediafire.com/?0jmxdrwwh9p

Edison investment report on Rockhopper

http://www.sartma.com/art_5390.html

PARTIAL LIFTING OF OPEN-DOOR LICENSING SUSPENSION


The Falkland Islands Government has (from early April) partially lifted the suspension on open-door licensing. The partial lifting of the suspension applies only to blocks 25/7, 8, 9, 12, 13, 14b, 17 and 18. A copy of the new guidance notes for applicants can be downloaded here.

http://www.bgs.ac.uk/falklands-oil/download/NotesApril2008.doc

http://www.falklandnews.com/public/story.cfm?get=4978&source=3

GOVERNORS ADDRESS TO THE OPENING SESSION OF LEGISLATIVE COUNCIL: 28 MAY 2008

The Department of Agriculture will continue next year to provide the necessary technical support and data collection to enable farmers to make informed choices and business decisions. The establishment of an appropriate internationally recognised scheme of organic certification for agricultural products should be completed, with a view to increasing returns to participating farms. The creation of the Rural Development Strategy Group led by Cllr Hansen will focus on a number of key areas to continue the push towards economic self-sufficiency in camp; with new developments in communications, opportunities are improving though the challenges are still significant.


On minerals, although Falklands Gold and Minerals left without success, the data they bequeathed us will be of huge importance in years to come. In hydrocarbons, the prospects for another drilling round look good. The year has seen the completion of a major 3D Seismic survey in the southern basin, and various other surveys in both southern and northern basins in preparation for drilling. There has been a significant farm-in to the FOGL acreage in the south-east, and there is interest in the Desire Holdings in the North. Drilling commitments therefore remain on track and new activity can be expected to materialise in the coming months. Open door production licencing has been re-opened for a limited area in the north to encourage potential bidders.


The tasks of the Minerals Department next year will be to facilitate drilling programmes by advising licencees on the required environmental, health and safety and technical approvals in order to bring rigs to the Islands. From the industry perspective, some easement in the market for drilling rigs combined with unprecedented oil prices makes the prospect of drilling in 2009/10 much more likely. As in the first drilling round, it will be the role of FIG and FIDC to ensure that every possible opportunity is provided to local companies to provide the support services required, and to maximise local involvement in the drilling process.

Barclays out any comments before I top up?

Should have a better idea after AGM tonight on future plans!

http://www.mercopress.com/vernoticia.do?id=13670&formato=HTML

Falkland Islands flourishing upbeat assessment in London

I think DES is starting to realise the IC article that it is only worth 20-25p.

little more time is needed!

Like 2-3 years!

agm yesterday says its up to FI GOV approval .....up to 3 months, then setting things up ......so it could be end of year......it will be 1st quarter / 2nd quarter max though.

partner involved is very wealthy too! which is good.....also rkh are fully funded to help des according to agm.

so enough of scare stories or de-ramping, halifax.....you seem to be a bit like that in last week or 2 from what i seen.

Not de-ramping just stating the facts as known at present. It is unlikely DES will start drilling before 2010 after FOGL/BLT have drilled and been successful or otherwise.

well thats not what was inferred at agm yesterday......it is feasible to drill end of this year, if not it will be 1st half of next year

scotty inferred is not a fact.