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

Desire issues Falklands EIA

Offshore staff

PORT STANLEY, Falkland Islands -- London-based Desire Petroleum has submitted an environmental impact assessment (EIA) to the Falkland Islands government.

RPS Energy prepared the EIA, which covers offshore licenses PL 006, 007, and 034 in the North Falkland basin. The submission was behind schedule, due to a delay in receiving the results of the analysis of benthic samples acquired last year.

PL034 is a recently awarded exploration license, following a farm-out agreement with Arcadia Petroleum. Desire has identified a new gas play in the area, which extends into this license.

Under the terms of farm-out accord, Arcadia agreed to drill and test the Alpha gas prospect, located on PL034 and Desire's existing licenses in Tranches I and L. Alpha is a large structural closure, with unrisked, mid-estimate potential recoverable reserves of 7.8 tcf.

Arcadia also agreed to drill and fund 85% of the costs of a well on the Ann oil prospect in a sub-area of Tranche C, which Desire estimates has unrisked potential reserves of 202 MMbbl.

The company is one of the more proactive in the Falklands sector, with plans and cash for a four-well program on its various prospects. Recently, however, it has been thwarted by rig availability constraints, heightened by the remoteness of the island's location in the southern Atlantic.

3/4/2009

As long as it moves up .5p a day I'm happy.

Falklands Update Feb 2009Phil Richards (BGS & Falklands Government)

http://energy.ihs.com/NR/rdonlyres/FA138072-6FD1-4578-A9AF-A2BF32C50779/0/I1_FalklandIslandsGov.pdf

Up 10% this am along with all the other oilies.

oh yummy yummy ..... another blue sky falklands oily.

mitzy ... as you rightly observe, ALL oilies are up (not AMER - lol!), even those without any oil!

I'm making money on this so I'm happy.

More rumours today.

This is 'not' a ramp for Shell.

Don't usually post on here as a holder with FKL, but having seen many posts on several sites mentioning the possible correlation between lack of investment in new fields and the drop in oil price, the following article effect all oil exploration/supply companies.

Shell reported yesterday that although the price of oil is lower than it has been for some time, they will not allow the price to effect their exploration programme. They are looking to maintain their dividend and will if required increase their gearing in order to do so.
Not posting this to ramp Shell (I don't hold Shell shares or at present intend to buy), but just to show that although oil prices are on a recent low, oil companies need to plan many years ahead in order have availability when required.
Obviously the majors have the cash to invest in the future almost at will, but smaller minnows such as Fogl, Des etc can not afford to step back whilst demand slackens.
They can not afford to slow down in the race for oil.

Plenty of rumours around today.

mitzy tell us more.

Well its mire related to FOGL drilling their first well late 2009 in an RNS and hopefully DES will benefit from Ds's expertise.

From Jac on iii who is a good honest poster

"Spoke to Ben Willey today and he says that he is confident that we should have a rig within the next 3 months - end of June. There is a memorial service tonight at which he is attending and will be speaking to board members at the Reform Club, London for Colin Phipps. Ben has spoken to me on several occasions as many of you will know from previous posts - he has never let me down yet so let's hope he comes good again. He also mentioned that rig contracts are being cancelled and he is of the opinion that a rig will come from Gulf of Mexico or West Africa."

told you before, there's plenty of rigs available at the moment ...... just go to aberdeen and/or see the comment from Lamprell just a few days ago ..... btw, i would doubt that the rig will come from west africa as TLW are getting all geared up to start work on the jubilee field and are calling in kit to be in situ May/June

"

Bollinger Bands

DES.L has closed below upper band by 14.3%. Bollinger Bands are 46% narrower than normal. The narrow width of the bands suggests low volatility as compared to DES.L's normal range. The bands have been in this narrow range for 17 bars. This is a sign that the market may be about to initiate a new trend.

Lets hope so mark.

"New trend" - Up or down?

Hi Harry,

The graph seems to be indicating that we are due for another push and hopefully push through 32p where the resistance seems to be.

Joint Operators Meeting
Falkland Islands offshore operators, along with
representatives of the Falkland Islands
Government and BGS, are scheduled to attend a
Joint Operators Meeting in Stanley on the 6th and
7th of May 2009.

Joint Operators Meetings provide an excellent
opportunity for operators to get together to share
information and discuss matters of mutual
concern with FIG and BGS, and to coordinate
activities.

crude will have to stay firm or better ..... should be a good chance of that, though i know some pundits are still reckoning the bottom will be $30 or less

http://news.scotsman.com/uk/Don39t-mention-the-Falklands-PM.5097423.jp

Don't mention the Falklands, PM told

Published Date: 23 March 2009

THE Prime Minister was last night urged by David Lidington, the Conservative foreign affairs spokesman, not to discuss the sovereignty of the Falkland Islands when he meets with the president of Argentina this week.
Mr Brown holds talks with Cristina Kirchner on Friday in Chile.

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

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