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

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.

U.S. CRUDE FUTURES DOWN $6 AT $80.59/BBL

Desire petroleum's project could be in jeopardy !, the price of crude is dropping like mad.....below a certain level...it would no longer be worth trailing a rig out there !....not looking good I'm afraid to say !....I'm not in these, but I'm still losing on others...hoping for a crude rebound....this has to stop sooner or later !.

required field it will course no problems unless oil drops to $22 a barrel which it is not going to as high oil prices are here to stay.

http://www.desireplc.co.uk/technical_economics.php

Hope you are right markymar about high oil prices because I'm being stuffed at the moment....bad mistake I've made of staying in !.

They will be ok ; ) But things could be better crap time for all !!

Roger Wiegand: Oil to Reach New Highs by Year-End
by: The Energy Report posted on: October 10, 2008

Despite severe economic turmoil, demand for oil is rising significantlyin fact, it will land somewhere in the range of $150 to $157, according to Roger Wiegand, editor of Trader Tracks

http://seekingalpha.com/article/99296-roger-wiegand-oil-to-reach-new-highs-by-year-end

required field

Am in the same boat as you as I am down 10s of thousands at moment, the markets will stabilizes at some point after many years of bad practice from banks, the fundamentals have not changed at all for Desire they have a cash rich partner which can access rigs and tankers and Desire still have there money safely banked and are drill ready when a suitable rig is found.

The deal they got with Arcadia was a fantastic one you wont find a better one in the industry..why such a good deal? When Fred wants something he goes and gets what he wants am sure this deal has been going on for years in the back ground.

rf
comforting words are nice. they stop us from selling.
usually when we wake up to it we think its too late anyway.
havnt read the whole thread, maybe i should.
markymar sounds all too familiar, im sure i know his style.
anyway less comforting words such as idiot and fool, dont help.
maybe join the club, you are now a veteran might.
maybe your own experiences might help others.
will they listen?
did you?
did I?
no reply required.
best regards
jkd

I'm starting to think that the way to play these crazy markets nowadays is to : not to have a wide spread like I have in stocks...buying and selling as they come into profit one by one.....and when it's like it is at the moment , the whole lot goes down, but to: just concentrate on a few...perhaps a maximum of 5 stocks and get out as soon as there is some profit showing and repeat this operation all the time...that way when the market goes pearshaped (as so to speak) selling the lot would only take 5mn , also just go long or short on 1 stock....!.

marky

if this deal has been in the background for years why do you think its only just been announced? I agree by the way, I think its been announced to coralate with the other FI Cos drilling schedules but I'm interested in your thoughts.marrow

Hi Marrow,

I have tranlated it from nogy to English the best i can,they also presented over in Norway 2 years ago so i think it has been on the cards for a good while maybe why the 3D was fast tracked.


http://arkiv.nettavisen.no/Nyhet/154993/Fra+Opticom+til+olje.html

Desire Petroleum oil is coming soon to Norway to make themselves beautiful for Norwegian riggselskap and rig brokers. Selskapet eier oljefelt i den nordlige delen av Falklandsene, men har ett problem. The company owns oil fields in the northern part of the Falkland Islands, but has a problem.

De har ikke borerigg til gjennomfe boreprogrammet de har planlagt. They have not drilling rig to conduct drilling program they have planned.

Keith og Fussell tungt inne Keith and Fussell heavily
Robert Keith og Thomas Fussell er sammen den nest stste eieren i selskapet, som er notert pA-listen i London. Robert Keith and Thomas Fussell is the second largest owner of the company, which is listed on the A-list in London. Hovedeieren er Phipps-familien, som lenge har vt involvert i oljebransjen. The main owner is the Phipps family, which have long been involved in the oil industry.

Keith og Fussell var med investere i selskapet fra etableringen i 1998, og solgte sitt eget oljeselskap Gaelic Resources til Desire Petroleum. Keith and Fussell was to invest in the company from its creation in 1998, and sold his own oil Gaelic Resources to Desire Petroleum. Til sammen har den omstridte investorduoen en eierandel pmellom 8 og 12 prosent i selskapet. Together, the controversial investor duo a stake of between 8 and 12 percent of the company.

Fussell og Keith er mest kjent i Norge som investorene bak IT-boblen Opticom, og nde for alvor rampelyset da Petter Stordalen, Orkla og stein Stray Spetalen kastet duoen fra styret i selskapet pen meget dramatisk generalforsamling i fjor ht. Fussell and Keith is best known in Norway as the investors behind the IT bubble OPTICOM, and reached for serious limelight when Petter Stordalen, Orkla and stein Stray Spetalen roll duo from the board of the company in a very dramatic 'meeting last fall. Fussell er ogsstyreformann i Fast Search & Transfer, der Robert Keith er styremedlem og ansvarlig for investorrelasjonene. Fussell is also chairman of Fast Search & Transfer, where Robert Keith is a board member in charge of investor relations.

Keith og Fussell har sin bakgrunn fra finansmiljt i London, men Fussell er faktisk utdannet geolog. Keith and Fussell has his background from the financial community in London, but Fussell is actually trained geologist. I stedet endte han opp som analytiker og aksjemegler, som i dag er aktiv investor be i Asia, London og Oslo. Instead, he ended up as an analyst and broker, who today is active investor in Asia, London and Oslo.

Rigg-lokking i Norge Rig lokking in Norway
Desire Petroleum hentet for halvannet siden inn penger i en emisjon for finansiere en borekampanje psine felt utenfor Falklandsene. Desire Petroleum acquired for a half years ago the money in a private placement to fund a drilling campaign on their fields outside the Falkland Islands. Men siden den gang har det vt stadig vanskeligere skaffe en borerigg. But since then it has been increasingly difficult to obtain a drilling rig. Ratene har steget til himmels og selskapet har 26 millioner pund i kontanter. Rates have risen to heaven and the company has 26 million pounds in cash.

Det rekker kanskje ikke lenge ettersom selskapet trenger en oppgradert 2. The series may not be long because the company needs an upgraded 2 generasjonsrigg eller en 3. generation rig or 3 generasjonsrigg til arbeidet. generation rig to work.

- Vi planlegger komme til Norge de kommende ukene for me investorer, riggeiere og riggselskap, og fortelle dem historien om Desire, forteller Stephen Phipps. - We plan to come to Norway in the coming weeks to meet investors, rig owners and riggselskap, and tell them the story of Desire, "says Stephen Phipps. Han er styremedlem i selskapet, der hans far, Colin Phipps er styreformann. He is a board member of the company, where his father, Colin Phipps is chairman.

- Norge har fantastisk mange riggeiere og et marked som forst riggeiere. - Norway has many wonderful rig owners and a market that understands the rig owners. Vi tror at vi kan fet mottakelig publikum for vt budskap i Norge, sier Phipps til NA24 iMarkedet. We believe that we can have a receptive audience for our message in Norway, "said Phipps to NA24 iMarkedet.

Tf start Tough start
Selskapet ble startet i 1998, og var da med en gruppe, bestnde blant annet av Shell, som gjennomfte boringer pfelter nord i Falklandsene. The company was started in 1998, and was with a group, consisting of, among other things, Shell, which conducted drilling activities in areas north of the Falkland Islands.

Men oljeprisen raste i 1999, og det var begrenset suksess i de funnene man fant. But oil prices collapsed in 1999, and there was limited success in the findings Monday found. Oljekollapsen pslutten av 90-tallet fte til at partnerne trakk seg ut, mens Desire Petroleum ble vende og heller kjte seg opp. Oil collapse in the late 90s led to the partners pulled out, while Desire Petroleum stayed and either bought up.

Phipps forteller til NA24 iMarkedet at de siden den gang har foretatt seismiske underselser i feltet som er oppltene. Phipps says the NA24 iMarkedet that since that time has made seismic surveys in the field are encouraging.

- Det er god geologi i omret. - It is good geology in the area. Vi vil vise at Falklandsene er et interessant omre, sier Phipps som mener potensialet i feltene er pmellom en og to milliarder fat olje. We will show that the Falkland Islands is an interesting area, "said Phipps believes that the potential in the fields of between one and two billion barrels of oil. Men disse reservene er plangt n bevist, noe som gj at preboring er prevd. But these reserves are on the far proved, something that allows exploratory drilling is required.

Vil bore kjapt Will drilling instantly
Desire Petroleum har navnet sitt fra den fste ben som ankom Falklandsene, som ligger utenfor kysten av Argentina, og var i verdens selys da Argentina ville ta over en fra britene. Desire Petroleum has its name from the first boat that arrived in the Falkland Islands, located off the coast of Argentina, and was in the spotlight when Argentina would take over the island from the British.

Phipps forteller at alle muligheter burde ve til stede for drive en god oljebusiness i omret og peker pat forholdene er lignende til de i Nordsjn. Phipps said that all options should be available to drive a good oil business in the area and points out that the conditions are similar to those in the North Sea. Vanndybden er pmellom 300 og 400 meter, og klimaet tillater oljeboring et rundt. The water depth is between 300 and 400 meters, and climate allow oil drilling year.

- Vi har gjort mye klart for bli klare til bore, men problemet har vt ftilgjengelig rigger. - We have made clear to be ready to drill, but the problem has been to available rigs. Det er ogsderfor vi kommer til Norge for fen partner eller en rigg tilgjengelig, sier Phipps til NA24 iMarkedet. It is also why we come to Norway for a partner or a rig available, "said Phipps to NA24 iMarkedet.

Selskapets aksjer handles til 32 pence pA-listen i London, noe som priser selskapet til rundt 67 millioner pund. The company's shares traded at 32 pence on the A-list in London, which rates the company to around 67 million pounds. Men det eneste selskapet har av verdi er oljefeltene. But the only value of the company's oil fields.

marrow
first post? or have you posted before?
we know m's opinion whats yours?
regards
jkd

Oil sinks to fresh 13 month low near $73
Wire services

Crude fell for a third day on today as it plumbed a new 13-month low near $73 as commodity investors again rushed for the exit on fears of a collapse in demand growth with the world economy tilting toward recession.

Bleak US economic data and warnings from the US Fed that tough times are not over led Wall Street to its worst day since the 1987 stock market crash, wiping out earlier optimism fuelled by government steps to avert a financial meltdown. Japan's Nikkei index dived as much as 10% in trade today.

US crude for November delivery fell $1.26, or 1.7%, to $73.28 a barrel by 0520 GMT. The front-month contract has lost nearly a third in value in three weeks, the steepest such decline since it began trading in 1983.

London Brent crude fell $1.17 to $69.63.

"The oil markets are now highly correlated to the stock markets. Everyone now uses the stock markets to gauge the health of the economy," said Clarence Chu at US-based options trader Hudson Capital Energy.

Crude now stands more than 50% off its July peak above $147, and analysts have scaled back global demand growth estimates after a recent slew of gloomy data that has overshadowed Opec's talk of possible production cuts and a hurricane that is disrupting Carribean refining operations.

Japan's crude inventories hit a 14-month high last week as crude runs stayed low, in part due to slack domestic demand, industry data showed today.

JP Morgan cut its average crude price forecast for 2009 to $74.75 a barrel, and the Opec also reduced its forecasts for world demand for crude next year in its latest monthly report.

The cartel meets in November in Vienna to assess the global financial crisis's effect on the crude market, with growing expectations it will want to lend support to a market that has been swept up in the de-leveraging across commodity markets.

"Sentiment is just so bearish. I would think $70 is a pretty strong support, but the way the market is selling down, we just don't know," Chu said.

Venezuelan President Hugo Chavez said oil prices would probably keep falling as the US economy headed south.

"The price of oil is falling? Yes. The price will carry on falling? Probably. But Venezuela will not drown," he said. Venezuela is one of the US' biggest oil suppliers, with about half its government revenue derived from oil, he said.

US weekly oil inventory data due later in the day is expected to show that crude stocks probably rose for the third straight week, gaining 1.9 million barrels, while distillate and gasoline stocks also increased amid weak demand, an expanded Reuters poll showed.

The data is to be announced at 11 a.m. EDT (1500 GMT), a day later than usual due to Columbus Day on Monday.

Hurricane Omar, which disrupted shipments from Venezuela this week, strengthened into a major Category 3 storm today as it headed toward Puerto Rico and the northeastern Caribbean, but was on a north-east trajectory away from the US Gulf, the National Hurricane Center said.

Processing units at the 500,000 barrel per day Hovensa refinery on St. Croix in the US Virgin Islands, a large supplier of gasoline and heating oil to the US East Coast, were being shut down ahead of Omar's arrival, Hess Corporation said, reported Reuters.

jkd,i've been posting here for ages but not used the site in a long time.

marky,des have defo been speaking with jf for a couple of years i was wondering what you thought regarding the timing of the deal?Why not announce the deal a year ago for example?

i wonder how much longer we'll have to wait for a drilling timetable from the company?marrow

U.S. Fed said that tough times are not over led Wall Street to its worst day since the 1987 stock market crash, wiping out earlier optimism fuelled by government steps to avert a financial meltdown. Japan's Nikkei index dived as much as 10 percent in Thursday trade.

U.S. crude for November delivery fell $1.26, or 1.7 percent, to $73.28 a barrel by 6:20 a.m. The front-month contract has lost nearly a third in value in three weeks, the steepest such decline since it began trading in 1983.

London Brent crude fell $1.17 to $69.63.

"The oil markets are now highly correlated to the stock markets. Everyone now uses the stock markets to gauge the health of the economy," said Clarence Chu at U.S.-based options trader Hudson Capital Energy.

Crude now stands more than 50 percent off its July peak above $147, and analysts have scaled back global demand growth estimates after a recent slew of gloomy data that has overshadowed OPEC's talk of possible production cuts and a hurricane that is disrupting Caribbean refining operations.

Japan's crude oil inventories hit a 14-month high last week as crude runs stayed low, in part due to slack domestic demand, industry data showed on Thursday.

JP Morgan cut its average oil price forecast for 2009 to $74.75 a barrel, and the Organisation of the Petroleum Exporting Countries also reduced its forecasts for world demand for crude next year in its latest monthly report.

Old news, justyi. See post 3007. Try & keep up! :o)

Some say it costs $70 per barrel to produce oil in the north sea, how much to produce in the Falklands?