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

I really need a drilling budget to deceide which way to vote.

with RKH having been crunched by its cash-raising share issue, DES has continued to soften, albeit to nothing like the same degree.

anyway, i draw everyone's attention to a very long article, primarily about BP, in yesterday's Sunday Times.
the nub of it was that regardless of the short term issues surrounding the price of crude, known oil reserves are being depleted far quicker than new are being found.
of course this does not necessarily mean that crude will rise - it almost certainly will over time, but it is driven by other factors - but that second tier and smaller companies with proven reserves of both quality and quantity, will become ever more tempting morsels.

as it stands, DES and others in the falklalnds basin still have to actually find the alleged multi million/billion/trillion barrels of oil said to be just sitting, merely just awaiting the drill bit ...... so, if you believe the story, then now is possibly not a bad time to buy DES, as its sp having fallen about 20% from its recent high, is just about touching the 50 dma, from which it could/should bounce

Thanks Cynic - useful analysis

hi T ..... wedding was a total blast! ..... i don't normally enjoy that sort of thing much, but suffice it to say that we did not go to bed until 2:30 sunday morning!

Good job you had an extra hour then! - thought it would be fun!

Mark, the Placing is conditional on the Shareholders agreeing it at Meeting 9/11 but if price goes below the 70p are the Institutions obliged to take up the placing?

Hi Rob,

The Shareholders must agree to the resolution for both placing and open offer to go ahead but this is only a formality as the Phipps family hold so many shares and any shareholder who does not agree must be short of a screw.

The way i understand it is that the institutions have agreed to take the 42 mill shares at 70p and are held in on that price.

The open offer will be made to share holders on would like to buy X amount of new shares in Desire at 70p it will not be on the bases of how many shares you hold.
Also the open offer at 70p may be less than the 70p if the share price drops further nothing is in ink yet.
I think once the placing and open offer is out the way the price will start to rise and when the OG leaves Scotland to the Falklands well its time for the champers.

ok thanks Mark, theres no doubt in my mind they will shoot up towards Feb i was jus wondering if their funding has been secured at 70p as its not too clear from the particulars

Rob,42 is secured the 20 mill we have to wait and c but the vote does not matter its a done deal.r

u must have figures in yr head if oil is struck or gas or get shaun on case,would be great to hear them in private or on thread?

Hitler's angry at Desire Petroleum


http://www.youtube.com/watch?v=HzmWefseY8s

check out link for article on DES and AGR page 24


http://www.energyinternat.com/3dissue/3DIssue456/pageflip.htm

is that a recent article as the news in it seemed comparativley old - i.e. it mentions the vessel expected to leave Invergordon in November ..... given that that is where we are now, it would not have been unreasonable to expect something a bit more precise

The magazine was the October 09 addition so a little old but still of interest.

The rig will sail from Invergordon on the Nov 24th. She will head for Las Palmas before heading for Brazil and then onto the Falklands and will be drill ready early February if all goes well with been towed all that way.

http://www.diamondoffshore.com/ourFleet/rigStatus.php.

UK smallcaps UK smallcaps news


11:31GMT 06Nov2009-Desire Petroleum, Rockhopper up on IC tip

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Shares in Falklands oil and gas explorer Desire Petroleum and its partner Rockhopper rise by 4.3 and 5.2 percent respectively after comment in the Investors Chronicle sparks investor support for oil companies with assets in the region.

'There's a mention in the Investors Chronicle and Rockhopper, Desire Petroleum and Borders & Southern Petroleum (up 2.4 pct) are all getting pulled up as a sector move,' a trader says.

'Access to the area has always been a problem in the past and it looks like they (Desire and its partners Rockhopper) managed to get a rig out there which opens it up a lot,' he says.

FROM III

Just been informed that rig will not be leaving the Queens dock on Monday. Anchor chains are still on the dock. Diamond want to keep the rig alongside for as long as possible before departure on the 24th. This is to make it logistically easier to carry out remaining work and load up! Transocean do want a rig in her mooring so she may have to move out before the 24th but it won't be Monday. The route from Invergordon to Las Palmas has not yet been decided.

doh!
turn left out of the harbour, or you'll run aground .... turn right when you find the open sea and keep heading south ...... turn right again at dover etc etc etc .... it's a much more enjoyable route than turning left at the open sea and going via the western isles in mid-winter!

Trawlling through various charts this morning I stumbled upon this cracker of a cup and handle chart pattern. Should at least lead to a return to the recent high of 110p and maybe a lot more. Broker forecasts also support the TA angle here.

One of the most potent TA patterns to be found.



Heres an explanation/details of the pattern....

http://www.investopedia.com/terms/c/cupandhandle.asp

Forgot to add the Broker recos for des Desire Petroleum on previous post....

New buy slapped on friday by Oriel.......

Desire Petroleum PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
06-11-09 BUY

Seymour Pierce
23-10-09 BUY -0.30 -0.30

http://www.ft.com/cms/s/0/a112916a-9dcd-11de-8de8-00144feabdc0.html?catid=8&SID=google

SMALL CAPS: Falklands hopes lift Desire

Desire Petroleum surged on Thursday after the energy explorer became the first to secure a rig to drill on the Falklands Islands since 1998, write Miles Johnson and Neil Hume.

The news sparked buying of other Falklands-based explorers, including Desires partner Rockhopper up 51 per cent to 58.5p and Borders & Southern, which rose 18.4 per cent to 58p.

Securing a rig has been the key to near-term share price performance and this is very good news, said Seymour Pierce. While a clearer view on valuation awaits well results, we believe the shares will perform well ahead of the drilling campaign.

Oriel, meanwhile, argued the news was positive for all Falklands explorers, noting that the other companies could use the same rig as Desire while it was in the area. Desire shares closed 39.5 per cent higher at 90p.

Business Financial Newswire
"Falklands oil and gas explorer Desire Petroleum plans to launch an open offer as soon as possible.

This follows its 42m placing, approved by shareholders today.

Documentation for the open offer is currently being finalised. "