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 Petroleum plc

The Group presently owns 5,500,000 shares of AIM quoted Desire Petroleum plc ("Desire"). Following the recent Placing and Open Offer of new shares by Desire to raise #5 million to be utilised principally in carrying out a 3D-seismic survey over certain areas of the North Falkland Basin, this shareholding represents approximately 3.38% of Desire's issued share capital at a carrying cost of approximately 9.4p for each Desire share held.

The shareholding provides the Group with a continuing interest in Desire's exploration offshore the Falkland Islands. Desire reported on 7 January 2004 that Fugro Geoteam A/S had been contracted to conduct a 3D-seismic survey for Desire over Tranches C and D in the North Falkland Basin. The survey has been defined to refine the definition of what are currently considered to be the three largest, potentially-oil-bearing, prospects in the North Falkland Basin.

On 1 March 2004 Desire reported that approximately 40% of the 3D-seismic survey had been completed and the first, unprocessed seismic lines had been received in the UK. Data quality was high and once the survey had been completed, it was expected that data processing would take about four months, at which time detailed interpretation can begin. This will not be available until later in the year but Desire has reported the initial results are already encouraging.

And OPEC confirms it has agreed to a cut in production of 1 million barrels per day. Nice !

We must be close to having the 3D shoot complete. Another 7 - 10 days will be my guess.....hopefully we'll have an RNS from DES.

i think so oily then the wait up to 4 months

Yeah, so we'll be looking at the end of July/beginning of August for the processing to be complete......

Anyone intrested in Desire and what to know more about the history of desire and all the facts then go to.

http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=22664

This thread set up by oily is the bible of Desire petroleum and is a must read for anyone who would like to read the facts.

I hold some shares in Westmount Energy (WTE). Posted their interims yesterday and this in an excerpt from them (just for interest - if any!!!):-

Desire Petroleum plc

The Group presently owns 5,500,000 shares of AIM quoted Desire Petroleum plc
("Desire"). Following the recent Placing and Open Offer of new shares by Desire
to raise 5 million to be utilised principally in carrying out a 3D-seismic
survey over certain areas of the North Falkland Basin, this shareholding
represents approximately 3.38% of Desire's issued share capital at a carrying
cost of approximately 9.4p for each Desire share held.

The shareholding provides the Group with a continuing interest in Desire's
exploration offshore the Falkland Islands. Desire reported on 7 January 2004
that Fugro Geoteam A/S had been contracted to conduct a 3D-seismic survey for
Desire over Tranches C and D in the North Falkland Basin. The survey has been
defined to refine the definition of what are currently considered to be the
three largest, potentially-oil-bearing, prospects in the North Falkland Basin.

On 1 March 2004 Desire reported that approximately 40% of the 3D-seismic survey
had been completed and the first, unprocessed seismic lines had been received in
the UK. Data quality was high and once the survey had been completed, it was
expected that data processing would take about four months, at which time
detailed interpretation can begin. This will not be available until later in the
year but Desire has reported the initial results are already encouraging

Looks like the buying has picked up today.........consolidation period before the next leg up ?

The South Atlantic. Getting ready for kick-off ?

INTEREST REVIVING IN THE FALKLANDS WITH SECOND 2004 SURVEY ANNOUNCED.

BY JEREMY CRESSWELL.

GLOBAL Petroleum together with Cambridge Mineral Resources and Falkland Islands Company, is carrying out a two-month aero-magnetic survey of the Falkland Islands in a bid to better map the UK dependencys hydrocarbon, (coal, oil and gas), and other strategic mineral resources.
The partnership, known as Falkland Minerals Limited, (FML), is using Fugro Airborne Surveys, which will track lines at 1,000m and 500m spacings, with allowance for higher-density 250m spaced lines over previously identified areas of interest.
Results of this survey are expected to be available in the middle of this year and the intention is to follow up with selective land-based drilling.
The move follows a decision by Global early last year to buy 4,340km of South Falklands Basin 2D seismic to determine the most prospective offshore areas to commence exploratory activities.
In this case, Global is working in partnership with Hardman Resources, (30%), and Falkland Islands Company, (20%). They collectively hold 10 South Falklands Basin blocks off the island groups south and east coasts.
The South Falklands Basin is distinct geographically and geologically from the North Falkland Basin, which was the focus of exploration activity during 1996-98, with both seismic survey and drilling carried out.
While both basins are under-explored, North at least has been drilled, whereas South has only been subject to seismic, (8,000km shot in 1993).
This basin is said to be analogous to the Malvinas and Magallanes Basins in Argentine waters to the west, where a well drilled by Exxon in the early 1980s flowed 3,200 barrels per day of oil, demonstrating, according to Hardman, a nearby working petroleum system.
2004 is becoming an active year in the Falklands sector, which has been virtually moribund since the disappointing late-1990s drilling campaign.
During Q1, UK-listed Desire Petroleum shot seismic across a number of key targets in the North Falklands Basin, claiming promising early results.
In March, Energy reported that Pan American Energy had acquired interests in the Malvinas Basin offshore Tierra del Fuego in other words, Argentine waters, but which border on to the Falklands sector.
Pan American has secured a 35% interests in blocks 40 and 46 operated by Repsol-YPF. Total, which has a 31% stake in block 46, has apparently ordered a seismic campaign across both blocks, (aggregate area 6,500sq km), with a view to exploration drilling starting next year.
We reported in March that there was a twist to the Pan American transaction in that it would put BP in the South Atlantic as it is a 60% stake-holder in the company, with Argentinean corporation Bridas holding the balance of ownership.
Whether this campaign can in any way be made to link with Desires aspirations to restart drilling in Falklands waters is open to question, though it will perhaps be investigated. BPs indirect involvement could prove important to this regard.
The super-major did not participate in the Falklands drilling campaign of 1997-98 as its priorities lay elsewhere at that time. The Tierra del Fuego manoeuvre begs the question as to what BP might do next in the South Atlantic.
An industry source told Energy last month that the UK Government was making a serious mistake by not implementing and funding a systematic search for oil and gas in Falklands waters, especially as the North Sea is now in decline.
He questioned why 20 years had effectively been squandered since Prime Minister of the day, Margaret Thatcher, took Britain to war with Argentina over Falklands sovereignty.

up 12% today but must get past this 16p mark if get to 17p i think it will carry on riseing

RNS Number:3833X
Desire Petroleum PLC
06 April 2004


DESIRE PETROLEUM PLC

("Desire")

Seismic Survey Update


The 3D seismic survey over Tranches C and D in the North Falklands Basin has
been successfully completed.

In total, just over 804 square kilometres of 3D seismic were acquired and
initial indications are that it is of very good quality. Preliminary tests,
carried out by Robertson Research International Ltd., who will carry out the
detailed processing of the data, do not suggest that there are likely to be any
significant factors which would complicate processing. However, this is a very
substantial volume of data and processing will take upwards of six months to
complete before detailed interpretation can begin.

A number of companies have expressed interest in Desire's Licences and have
signed confidentiality agreements with respect to the data. Discussions with
thesecompanies will be progressed during the period required for processing and
interpretation of the 3D survey.

For more information contact:

Dr Colin Phipps 01684 892242

Dr Ian Duncan 01684 568415

Do you think if we all panic, we can drive the price ....lower...

ITS A BUY WITH THAT NEWS its just people selling who can not wait 6 months, a lot can happen in that 6 month period.

are MMs playing darty?

Well, no big shock at the length of time it's going to take to process the 3-D survey. Four months, six months - what the hell, we've waited long enough, a few more months won't make any difference. Drilling by Q4/04 or Q1/05.

what happened to block F ,oily as i have great respect for your knowledge on this subject do you think it will be less than 6 months as they have had some of the data for months and this could of being read already and do you think we will see one farm in partner or can you see more than one diffrent farm in partner on diffrent tranchers drilling.

I really don't know, Marky. As ever in the oil industry there are behind the scenes 'need to know basis' type stuff going on - and quite basically we don't need to know just yet............I'm sure 'F' was bombed too, we'll know soon enough in Desire's Annual Report.

cheers oily

the news released confirms to me that this is a potential 10x bagger, but it won`t be overnight as some seem to think, or expect. solid growth takes time and unless you are extremely lucky you don`t make mills in a few weeks. I`m in for more.
good luck and bestest

This is the best chance for a 10 bagger all year IMHO but it will take all year to achieve, I think yesterdays reaction to what is good news is a result of short termers. DES probably wouldn't be talking to third partyies unless they were pretty sure of the results. In which case you can assume that they have found the right type of oil and this cojmpany is worth significantly more than its current market cap.

In a recent interview with phipps on wall street reporter he said if 2 of the tranchers were on land they would be taking the oil out now....fact.