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

Halifax is quiet he must have his head in a lady bird book or has the pin dropped and he has just worked out what a cracking deal Desire have made and not given half the prospects away to drill 2 holes like FOGL.

The lights on but dim

Desire remains a jam tomorrow/pie in the sky share as long as they dont have a rig/drilling program,they are riding on FOGL's shirttails following their agreement with BHPBLT.I doubt Arcadia has the financial muscle to finance an extended drilling program whereas the Aussies have real financial strength and experience in drilling. It would of course be far more sensible for all to pool resources as their are likely to be drilling disappointments as has happened in the past.

Thanks for the kind words marky so adult as usual.

The pin has still not dropped yet has it Halifax,here is a little help!

Acadia who are the farm in partner are owned by this man

John Fredriksen, (born 11. Mai 1944) is an oil tanker and shipping tycoon, owner of the world's largest oil tanker fleet, and was Norway's richest man until he chose to abandon his Norwegian citizenship and take up a Cypriot passport.[1] Norwegian magazine Kapital listed Fredriksen in 2007 with a net worth of NOK 55.5 billion ($11 billion USD). Through his investment companies Hemen Holdings and Meisha, Fredriksen controls the companies Frontline and Golar LNG from his 100 million Chelsea home in London. He also has major interests in the oil rig operator SeaDrill, the fish farming company Marine Harvest and the dry bulk company Golden Ocean Group. Fredriksen also recently announced that he through acquisitions and options and secured 9,6% of the worlds largest shipholding company Overseas Shipholding Group.

27 rigs he owns and 16 new builds on the way

http://seekingalpha.com/article/87340-seadrill-finding-gold-in-an-oil-driller

Marky how much does he owe the banks, remember Robert Maxwell? Rich lists are not worth the paper they are written on, just figments of journos imagination, everybody has two sides to their individual balance sheets, whatever happened to Asil Nadir by the way?

Very static today,and quite boring to see no activity after yesterdays surge and now back to where the price should be,hoping for a turn around soon.

Halifax i think the lady bird books are to advanced for you after reading that reply.

Telegraph comment:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/15/cxmktrep115.xml


Desire Petroleum, an oil explorer in the north basin of the Falkland Islands, rose 8 to 83p. Further to its announcement in February, it unveiled the terms of its agreement with private energy business Arcadia Petroleum.

Arcadia will pay the bulk of the costs of drilling two wells in the "Ann" prospect and Desire will maintain a 57.5pc interest in the field. Both companies have also been awarded new space in another prospect, the 300 sq km "Alpha", which is potentially one of the biggest gas fields in the Southern Hemisphere.

Landsbanki Securities said final details on the Desire farm-out agreement "moves exploration of the North Falklands Basin forward significantly, firming up four wells out of a six-well programme".

The broker said Rockhopper Exploration, which has a 15pc stake in the Ann prospect, also stands to benefit from the deal. Landsbanki said share prices in both Rockhopper and Desire should "recover strongly" following yesterday's news. Rockhopper jumped 7 to 66p.

marky which year will drilling start......2009......2010..... 2011..... do you know? Until then nothing has changed and even then the chances of finding oil or gas are as remote as ever. When a major like BHP/BLT turns up then the real action will start.

They said at the AGM that they hoped by the end of this year start or early next year.

You must have trouble reading statments as if you read the RNS yesterday it stated

"Rockhopper Exploration plc, as part of a larger transaction, is responsible for paying
the remaining 15% of the Ann well costs to earn
a 7.5% interest in Tranches C and D. Accordingly, the net result to Desire will be a 57.5%
interest in the Ann prospect for which the
Desire mid-estimate of potential recoverable reserves is 202 million barrels of oil. Following
AVO studies in 2007 Desire now estimates the
chance of success on this prospect at 50%, which is the chance of the prospect containing
hydrocarbons."

EG50%=Evens drill 6 holes 3 holes should hit oil

Now i dont know what you dont understand but if u dont understand it i will get my 9 year old son to explain it to you.


Have BHP given FOGL a date?

Can you tell me 5 of FOGL prospects and what they hold?

2 simple question for you to answer

Markymar - I would waste your time on Halifax.

He is only on this thread to goad and disrupt.

The only meaningful information to be posted on this thread has come from you.

Has anyone seen a meaningful range of price estimates both pre and post drilling?

Last time we of course hit over 4 pre-drilling with a much lower oil price (yes I remember that time) but I sense a reluctance to send the shares higher pre-drill this time around?

Diverveification, Ramco Energy Agm on the 19th August. This will be a standard procedure and the ratification from the Iraq oil ministers as duly been delayed by 3 months. Two ministers have opposed this venture untill further documentation is further approved. As Ramco energy will require additional time to forward the neccessary paper work for this exploration area of intererst in this region. This is considered as a slow process and the board members have been informed for at Ramco Energy. Anyone travelling to Aberdeen on this date expects to slightly dissapointed.

http://www.independent.co.uk/news/business/sme/small-talk-pawnbroker-thrives-on-credit-crunch-woe-900777.html

Desire deal takes chill off Falklands drilling plans

The Falkland Islands are generally considered to be a rather inhospitable place to live, given the weather and their remoteness. If you work for an exploration company and live there, and you cannot get hold of a rig to get at the gas that you think lies below the seabed, life must be doubly frustrating.

For those at Aim-listed Desire Petroleum, the frustration may be about to be lifted after the group announced last week that it has signed a deal with the shipping and drilling firm Arcadia Petroleum. As part of the agreement, Arcadia, and a third party, Rockhopper, will cover the 10m or so it costs to drill a couple of wells, while Desire will retain 57.5 per cent of the site, which they reckon has the potential to provide as much as 7.8tr cubic feet of gas.

The farm-out deal is a rather nifty piece of business, which not only gives Desire the chance of getting at the gas for no cost, it also avoids the prospect of going cap-in-hand to investors to ask for more money. The shares were up 10 per cent on the news last Thursday.

cant really understamd why the s.p. is drifting back so quickly after such positive news....any ideas

watcher

DES is just causing short-term excitement...price moving downwards again...now 76p

hyleo

do u just look up shares that go down each day?
all u do is want to gloat at others it seems...........why dont u go out on streets in uk and laugh at a teenager that just been stabbed to death.....maybe thats sort of person u r!

I'm shorting DES

who cares......u short most shares by looks of it.

pity u can short a war.....as i reckon theres going to be a major war kickin off in next year or so

Exstreme Caution: Ramco energy deal is off untill February 2009, Danger zone no ratification, Re: 35p

Agm commences at ramco Energy and traders are expecting delays for the ratification deal in Iraq and shares are been disposed in large quantities. 30p expected for this company. be carefull.

your short aint doing to well hyleo, lol......and thats when market plunges!