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

ignore him marky.......he does this with most shares......apart from rift, rbs etc which he bought recently.......123p for rbs and it went to 90p by end of day!! no, not month or year but in a day.

AGREE markymar what stock market is not crashing!! And yes He Is a total one ; ))

Seems like you have a fan club hlyeo98. It's not just me then.

Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them.

The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort.

The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again. But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching.

The man increased his price to $25 each and the supply of monkeys became so sparse that it was an effort to even see a monkey, much less catch one.

The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf.

While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.'

The villagers rounded up all their savings and bought all the monkeys.

They never saw the man nor his assistant again and once again there were monkeys everywhere.

Now you have a better understanding of how the stock market works.

When I started reading about monkeys markymar I thought we were going to get a tale about hlyeo98.

: )) me to

lol......hilarious queen......chin up smiler me old chap.......keep up your posts as they are usualy informative

It's sometime good being realistic. Sorry if I offend you guys but I certainly see this falling in the long term.

Time will tell.

In the long term??? Why?
Short to medium term I agree, but a couple of years down the line when they are up & running all of these explorers should be either producing or out of business due to uncommercial reserves.

Out of business - that's is even worse.

oil prices are falling and likely to continue to fall - where is the incentive to go to the back of nowhere?

Depends on commercial quantities of oil (and whether the Argentines kick off again maybe!).

The 10 year chart shows if one has bought recently, one may not see his investment capital back for many, many years.

maddoctor oil is going to stay at round about this price so dont fool yourself.

Opec to cut supply if oil stays below $90

By Upstream staff


Opec may need to consider cutting oil output if the price of crude remains below $90, Iraqi Oil Minister Hussain al-Shahristani said today.


"It has been a source of concern since the price has fallen since June and July," he said on the sidelines of an energy conference in the Turkish coastal city Antalya to Reuters.

"We are now looking at the market and if there are any future declines below $90 we will need to consider taking action," the minister said.

Oil fell by more than $4 to a 10-month low today as expectations mounted the international financial crisis would have a major impact on demand for fuel, but later pared some of its losses.

Fellow Opec members Libya and Iran have also expressed concerns this week about the impact of the worsening global crisis on the oil market.

Opec decided at a meeting in Vienna in September to comply strictly with its formal output target, a move officials said would result in the group trimming supply by about 500,000 barrels per day.

Opecs next scheduled conference is on 17 December in Algeria.

http://www.upstreamonline.com/live/article164466.ece

HARRYCAT

Argentina cant even drill what they have on the own land as they have no money the country is nearly bankrupt,you walk down a street in Argentian and you get mugged,,,They lost once and they dont have the money or the balls to do anything but make threats so its a no no there.

the price of oil is set in Chicago !!!!

not by the t*ssers in Opec

I'm all in favor of keeping dangerous weapons out of the hands of children.

Let's start with hlyeo98 keyboard.

I've seen people like you before hlyeo - but I had to pay an admission...

Why drill when the price is low??????

If it falls to $50 it will be 5x what it was when the Falklands was last drilled.

I agree with Markymar, I don't believe it is going significantly lower (although it could do for a very short period). The US has dwindling influence on anyone these days. They've played all their cards in that respect.

As I said earlier, only real risk short term is if Arcadia becomes short of funds.

hlyeo98 - what are you talking about! That share price chart doesn't mean a bean when an announcement is made. You can't sensibly analise investor behaviour in a stock like this the way you can with a highly liquid FTSE 100 company. You are in the same trap as IC.

and what has happened to expenses since then?.

don,t get me wrong , I am interested in Falklands drilling and hope one day this company will succeed. Have been following Des for years but their time has not come yet

but it is not far away.......so whilst there is blood on the streets buy houses.....so the saying goes......

Gordon Brown has a cheek its high petrol price we pay as we get taxed 70% nearly.

Opec output cut 'the wrong move'
News wires

UK Prime Minister Gordon Brown said it would be "wrong" of Opec to cut production just as oil prices are falling.


"I'm concerned when I hear that the Opec countries are meeting, or are about to meet, to discuss cutting production - in other words, making the price potentially higher than it should be," Brown told Reuters.

"So I'm making it clear to Opec also today that it would be wrong for the world economy - wrong for British people who are paying high petrol prices and high fuel prices at the moment - for Opec to cut production."

In response to deep price falls this week, several Opec ministers said supply should be cut and the group has called an emergency meeting on 18 November in Vienna to discuss the impact of the financial crisis.

Qatar's Oil Minister Abdullah al-Attiyah said earlier today that Opec would discuss whether to cut oil production to balance supply and demand when it meets next month.

He told Al Arabiya television that there could be a "huge decline" in crude oil prices if Opec did not devise a quick plan to counter the impact of the global financial crisis.