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

It will be going up today...watch it

xmortal, I refer you to post 286.

Looking again at the chart, if there's no further good news, this share will probably drift for as much as 3 months, whence it'll bounce back up from around 38p. Dull, I know! Esp as I jumped in at 57p! Trouble is with these types of share you never know when it might be an AEN situation. Sometimes you've got to close your eyes and go for it. Got my timing right on that one, wrong on this one, but DES will be doing well for me by next spring (I hope!!). And I'll be first in the queue to top up at 39p!

Of course, there may be something further in terms of news which will propel it up or down............

This has the potential to be the 2005 share of the year. It will take some time for the third party companies to interprete the data, and, all going well, negotiate a farm-in arrangement. Shell seems a natural for at least part of the acreage, since it has done some work in the area in the past and is desperate to replace reserves.
Assuming all progresses well, it would be helpful for the small shareholder to release a general statement when detailed farm-in negotiations start.

I have just bought more at 48.75p. Buy,buy,buy.If it goes down again i will keep buying .

smiling at the positive atitude there berlingo, if there is no tie in to another major company this could be a slow process to see the full potential reached, fiongers crossed it ain't that way.

watcher

Price and buys tipped up at the end of the day, good news for tomorrow?

Don't be nervous...this will be a great catch in months to come

Hi all

Well we only need to look at the indices to see what has gone on today. They are all down. So anyone seeing this might just take some proffit. Des is still looking good. I'm sure if the price drops any lower the buyers will step back in and send the stock up again.

Good Luck All

Eddie

I totally agree with you, Eddie...I think I will buy more tomorrow.

Hi all

It looks like the buyers were back in at about 0.455p. The open was 0.525p, high 0.560p, low 0.455p & close 0.475p. If we look at the gain from 0.28p to 0.615p. The change is 0.335p, divide this by 2. We get 0.1675p then add it back to our start of 0.28p we should have 0.4475p. This roughly where the buyers came back in today. Looking back at other large rises in des the shares seem to go back to about half way. Hope this is the case this time. I think only bad news would stop this share from rising.

Good Luck All

Eddie

I was buying more at the end of the day - saw this as an important top-up level and I would just like to thank all the weak holders for creating the opportunity to buy some more at this level

Eurofox , I`ve topped up twice in the last two days and am prepared for more if same keeps happening. Mid term this share only going one way , UP !
Good luck all !

David Bodecott Consulting
Established 1981

An independent consultancy in International Oil & Gas Exploration and Evaluation, specialising in Petroleum Geology and Exploration Geophysics, especially seismic interpretation.

On July 31st, 2004 we celebrated 23 years successful consulting for clients world-wide and 30 years in the oil business.

Principal Partner: David Bodecott: 52 years young.




Recent Activities: November 10th 2004 Update.

In 2004, exploration is the buzzword again - drill wells and you find oil! At $40+ per barrel, buying production becomes .

NORTH FALKLAND BASIN

We have been involved in all areas of North Falkland exploration with several clients for over eight years. Initial drilling results during 1998 were technically but not commercially successful, i.e. oil was found but not produced.

The second phase of Falkland Exploration is gathering momentum despite pessimism from some quarters. We are closely involved with evaluations of all Falkland licence areas through the activities of two clients.

The Desire Petroleum interim 3D interpretation results confirm the high potential of their licence areas. With one of the worlds richest source rocks, modest water depths, a benign environment, strong indications of good reservoir potential with DHI's (Direct Hydrocarbon Indicators), farm in partners have an attractive opportunity. Their recent 3D survey is only the second in the area, but the biggest to date. Economics are particularly attractive for their licences at present, even for gas reserves.

We watch carefully the activity south of the Falkland Islands that proceeds with FOGL, backed by RAB Capital. This is a frontier area, having scant seismic information, no wells, complex structure, deep water and a harsh climate. Any potential in this area might be ten or more years down the line from the North Falkland Graben - and with much bigger risks.

All Falkland players are currently under the spotlight as share prices rise again with renewed interest. Desire has been the best performer recently. The fundamentals are all there - a world class source rock, reservoirs, good plays and some highly attractive relatively shallow water areas that compare well with any exploration areas world-wide. Hopefully this will lead to a new drilling campaign in the Falkland second exploration phase

Top share performer today...

Unless yopu compare it to AST up 433%!!

Hi all

Yes AST is up 433% but is there any goood news with this company? It has only just floated on the AIM on the 10/11/04 & doesn't have any history to compare with this rise. Yes I'll stick it in my watch list as its may be worth some consideration. Anyway not much resistance today for DES, idices are all looking better. Looks good for another rise.

Good Luck All

Eddie

If you bought Desire at start of year you would be up about 450% so i would say share of 2005 and will be share of 2006 as well!

Regards markymar.....Oily?

Eddie, just caught up on the historical side of the share and I like the IMHO side of the fence, so to pick you brain if I can, lets say the rigs moving towards the atlantic (see entry 263) prove to be an assest to DES and things go well in the negotiations to find a partner to start work, whats the SP for year end, predictions IYHO.

thanks watcher

Last time in 1998 when oil was $10 a barrel the high was about 4.80p but there are more shares in circulation but the prospect are even greater than in 1998 so who knows.